Europe Companion Diagnostics Market 2022-2028

Europe Companion Diagnostics Market 2022-2028

MARKET OUTLOOK

Triton Market Research’s report infers that the companion diagnostics market in Europe is deemed to advance at a CAGR of 12.61% in value during the forecast years 2022-2028. Italy, Spain, France, Germany, Poland, the United Kingdom, and the Rest of Europe are evaluated in the market report.

In France, the majority of the population is supported by statutory health insurance overseen by the Hauté Autorite de Santé (HAS). In this regard, the national healthcare system in the country is considered to be considerate as it aims to reduce healthcare expenditure. The reduction in healthcare expenditure will ultimately reduce excess government spending. Due to high reimbursement coverage, the penetration of CDx is high in the country. Thus, such developments support the companion diagnostics market’s growth across the country.

Furthermore, Spain has been witnessing economic restraints over the past few years. This has made it imperative to reduce healthcare expenses. In this regard, CDx is executed in the outpatient hospital site. On the other hand, hospitals directly negotiate with the manufacturer. The hospital funding system relies on the global budget since reimbursement coding is unavailable for CDx. Nevertheless, the rising efforts to reduce healthcare expenses will increase the need for cost-effective technologies for diagnostics, opening new avenues for the market.

COMPETITIVE OUTLOOK

The prominent companies in the companion diagnostics market consist of Abbott Laboratories, Arup Laboratories, Biocartis, Almac Group, GE Healthcare, and Roche Diagnostics.