The europe molecular diagnostics market is expected to reach USD4.0 billion by 2024, according to a new report by Grand View Research, Inc. Growing geriatric population and the increasing prevalence of neurological and cardiovascular disorders is expected to drive the growth of molecular diagnostics. Moreover, increasing demand for more efficient healthcare delivery to facilitate early diagnostics is further expected to boost market growth.
Rising
awareness levels among individuals pertaining to the availability of effective
molecular diagnostic tests to determine the presence of genetic disorders is
expected to increase the client base for this industry, consequently leading to
early diagnosis of disorders in the population.
In
addition, with the demand for high levels of accuracy and cost effectiveness of
diagnostic procedures, the existent technologies are continually undergoing
progressive changes to develop improved and efficient testing tools. Presence
of a number of established healthcare facilities coupled with the technological
advancements facilitating and expediting accurate disease diagnosis are
expected to serve this market as significant drivers fueling growth.
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Further key
findings from the study suggest:
- The overall vertical was
dominated by the reagents with their revenue generation estimated at over
USD 930.0 million in 2015 owing to their higher usage including formamide,
salts, and dextran sulphate or heparin employed in the drug development
process to detect disease-related novel biomarkers
- Introduction of reagents for
technologically advanced instruments are anticipated to attribute towards
an attractive growth of reagents segment over the forecast period
- Central laboratories held
the largest market share of around 60% in 2015 owing to the highly
developed healthcare infrastructure and skilled healthcare professionals
& staff associated with them.
- Point of care is the fastest
growing test location segment with an estimated CAGR of over 12.0% over
the forecast period. Increasing demand for expedited diagnosis and rapid
analysis has led to the growth of this section.
- Infectious diseases
dominated the market on the basis of application with the largest revenue
contribution in 2015 owing to the large test volumes and extensive
portfolio of commercialized products in this area.
- HIV held the largest market
share of around 14.0% in 2015 in the infectious disease segment.
Government initiatives being undertaken in Italy and France to create
higher awareness about infectious diseases, such as HIV/AIDS and Hepatitis
B, are factors responsible for its high market share.
- Polymerase chain reaction
(PCR) technology dominated the vertical with overall market revenue of
over USD 725.0 million, attributable to the increasing application of
molecular diagnostics in the field of drug discovery & development and
pharmacogenomics
- DNA sequencing is estimated
to emerge as a profitable market over the forecast period with a CAGR of
around 15.0%. With the sweeping technological advancements in the field,
DNA sequencing is presently one of the most cost-effective technologies
used to decode the genetic cause underlying a range of diseases.
- The next generation
sequencing technology segment will witness the highest growth rate
throughout the forecast period majorly owing to the increasing R&D
initiatives for development of novel drugs.
- Germany held the largest
market share with maximum revenue generation in 2015, which is attributed
primarily to its huge elderly population base. Growing geriatric
population coupled with decreased immune levels would engender the
widespread prevalence of chronic diseases conditions comprising
cardiovascular, neurological, and diabetes
- The molecular diagnostics
sector in the UK is estimated to grow at a faster rate with a CAGR of over
11.0% throughout the forecast period. The presence of sophisticated
healthcare infrastructure, higher disposable income, and the increasing
R&D intensity are the key factors contributing towards the growth of
this sector in the UK.
- Some leading companies in
the molecular diagnostics sector include Roche Diagnostics, Alere Inc.,
Cepheid, Hologic, Inc. (Gen Probe), Sysmex Corporation, Abbott
Laboratories, Bayer AG, Siemens Healthcare GmbH, Becton, Dickinson and
Company, Johnson & Johnson, bioMérieux SA, Dako, Novartis AG
(Grifols), Danaher Corporation, Bio-Rad Laboratories, Inc., and Qiagen
N.V.
- The established players in
this vertical are adopting strategies, such as mergers and acquisitions,
new product development, expansion activities pertaining to R&D of
novel diagnostic products, and strategic collaborations to widen their
existent product portfolios
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Grand View Research has segmented
the Europe molecular diagnostics market on the basis of product, technology,
applications, test location, and country:
Europe Molecular
Diagnostics Product Outlook (Market Revenue in USD Million, 2013 - 2024)
- Instruments
- Reagents
- Others
Europe Molecular
Diagnostics Test Location Outlook (Market Revenue in USD Million, 2013 - 2024)
- Point of care
- Self-testing or OTC
- Central laboratories
Europe Molecular
Diagnostics Technology Outlook (Market Revenue in USD Million, 2013 - 2024)
- PCR
- In-situ hybridization
- Isothermal Nucleic Acid
Amplification Technology (INAAT)
- Chips and microarrays
- Mass spectrometry
- Sequencing
- Transcription-mediated
amplification
- Others
Europe Molecular
Diagnostics PCR, by segments Outlook (Market Revenue in USD Million, 2013 -
2024)
- Multiplex PCR
- Others
Europe Molecular
Diagnostics Application Outlook (Market Revenue in USD Million, 2013 - 2024)
- Oncology
- Pharmacogenomics
- Infectious diseases
- Genetic testing
- Neurological diseases
- Cardiovascular diseases
- Microbiology
- Others
Europe Molecular
Diagnostics Oncology, By Application Outlook (Market Revenue in USD Million,
2013 - 2024)
- Breast Cancer
- Prostate Cancer
- Colorectal Cancer
- Cervical Cancer
- Kidney Cancer
- Liver Cancer
- Blood Cancer
- Lung Cancer
- Others
Europe Molecular
Diagnostics Infectious Disease, By Application Outlook (Market Revenue in USD
Million, 2013 - 2024)
- Methicillin-resistant
Staphylococcus aureus (MRSA)
- Clostridium difficile
- Vancomycin-resistant
enterococci
- Carbapenem-resistant
bacteria testing
- Flu
- Respiratory syncytial virus
(RSV)
- Candida
- Tuberculosis and
drug-resistant TB
- Meningitis
- Gastro-intestinal panel
testing
- Chlamydia
- Gonorrhea
- HIV
- Hepatitis C
- Hepatitis B
- Other
Europe Molecular
Diagnostics Genetic Testing, By Application Outlook (Market Revenue in USD
Million, 2013 - 2024)
- Newborn screening
- Predictive and
presymptomatic testing
- Others
Europe Molecular
Diagnostics Country Outlook (Market Revenue in USD Million, 2013 - 2024)
- UK
- Germany
- France
- Spain
- Italy
- Belgium
- Switzerland
- Netherlands
- Poland
- Austria
- Greece
- Sweden
- Turkey
- Finland
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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