Europe In-Vitro Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Europe In-Vitro Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The European in-vitro diagnostics market is expected to register a CAGR of 5.5%, over the forecast period. Major factors that are fueling the market include a rapid increase in chronic diseases, increasing demand for point-of-care testing and personalized medicine, and technological advances, along with the rising geriatric population in the region.

COVID-19 has a positive impact on the European in-vitro diagnostics market. The Frontiers in Bioengineering and Biotechnology Journal article titled ‘COVID-19 in-vitro Diagnostics: State-of-the-Art and Challenges for Rapid, Scalable, and High-Accuracy Screening’ updated in January 2021 reported that in-vitro diagnostics have high accuracy, scalability, and rapid testing is essential in the fight against outbreaks, especially respiratory viral diseases that can be transmitted easily from person to person. It also reported that the deployment and frequency of testing across the globe can be influenced by the geographical and economic constraints in each country given the complicated workflow and price of some testing technologies, such as that RT-PCR. The high significance of in-vitro diagnostics in the diagnosis of COVID-19 infection has helped the market studied grow during the pandemic years i.e., 2020 and 2021.​

According to the GLOBOCAN report of 2020, about 628,519 new cases of cancer were diagnosed during the year 2020 in Germany. Breast and colorectum cancer were more prevalent in females, while in males, prostate and lung cancer were more prevalent in the country. The European Union has launched two initiatives in 2020 to improve the lives of more than three million people affected by cancer by the year 2030. With this initiative, the government is focusing on awareness about the importance of cancer diagnosis. Hence, with an increased diagnosis of chronic diseases such as Cancer in Europe, the market for in-vitro diagnostics will witness strong growth shortly.

In addition, patients can deal with their conditions better with the help of IVDs (diabetic patients can use portable blood glucose monitors regularly, to determine their blood glucose level). Therefore, the demand for IVD products is influenced by an increase in the incidences of chronic diseases. As the demand for IVD is increasing, the market in Europe is expected to healthy growth with the presence of many manufacturers and research activities going across many countries.

Key Market TrendsThe Instrument Segment is Expected to Experience Good CAGR over the Forecast Period

In-vitro diagnostics (IVD) instruments are medical devices used to perform tests to detect diseases and infections by examining specimens of bodily substances, such as urine, blood, tissues, and stool. The instruments include control material, kit, apparatus, piece of equipment, devices, or system that is used alone or in combination for the examination of specimens, including blood and tissue donations derived from the human body. The instrument segment encompasses the apparatus or devices, which are used alone or in combination, and are intended by the manufacturer for the in-vivo examination of specimens derived from the human body.

Some of the common IVD instruments include coagulation test systems, urine test strips, pregnancy tests, blood sugar monitoring systems, slide processing systems, cell imaging and analysis systems, and PCR testing platforms such as Abbott m2000 RealTime System. One of the primary growth drivers of IVD instruments is the increasing adoption of multi-test platforms. In-vitro diagnostic testing through the use of multi-test platforms has the added advantage of allowing multiple different markers to be detected at once. This is particularly advantageous when screening for the presence of drugs in a patient. Rising acceptance of routine diagnostic and the advent of precision and personalized medicine are likely to drive the growth of the instrument segment of the market in Europe, over the forecast period.

As per the 2021 World Health Organization (WHO), more than 40,000 products are presently available for in-vitro diagnostic testing, covering a wide range of conditions. This indicates the increasing utilization and demand for in-vitro diagnostic instruments. These devices are employed to diagnose various medical conditions, such as infectious diseases, cancer, cardiac disorders, and nephrological disorders. Hence, with the wide application of IVD instruments and increasing usage of the same, the segment is dominating the market studied in Europe.

United Kingdom is Expected to Witness Significant Growth Over the Forecast Period

The in-vitro diagnostics market in the United Kingdom is expected to grow due to the increase in the use of point-of-care (POC) diagnostics tests and the rising prevalence of different chronic diseases in the country. The rising geriatric population increases the burden of chronic and infectious diseases, as they are more prone to infections and age-related diseases due to low immunogenicity, which is expected to drive the growth of the in-vitro diagnostics market in the country.

For instance, according to the Globocan 2020 report, the United Kingdom reported about 457,960 new cases of cancer in 2020, and the most prevalent forms of cancer were prostate, breast, colorectum, lung, and melanoma cancer. Also, as per the same source, the cases of cancer are expected to reach 528,902 by 2030, and 595,909 by 2040. According to the United Nation’s World Population Dashboard, in 2021, the total population of the United Kingdom was 68.2 million, of which, 18.8% of the population are aged 65 or older, and as per the August 2019 report by the Office for National Statistics of the United Kingdom, in the next 50 years, there will be an additional 8.2 million people aged 65 years or older in the United Kingdom. With the increasing geriatric population, there will be a high number of people suffering from age-related chronic conditions which are believed to propel the demand for in-vitro diagnostics in the country.

Competitive Landscape

The European in-vitro diagnostics market is consolidated in nature, due to the presence of many market players. The major market players in Europe are focusing on partnerships and agreements to enhance their market presence. The major players include Roche Diagnostics, Abbott Laboratories, Bio-Rad Laboratories Inc., Danaher Corporation, and Thermo Fisher Scientific Inc., which hold large shares in this market. However, with the help of product innovation and technological advancements, there is a possibility of new players entering the market in the future.

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