Europe In-Vitro Diagnostics Market - Growth, Trends, and Forecasts (2020-2025)

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 country. In addition, patients can deal with their conditions better with the help of IVDs (diabetic patients can use portable blood glucose monitors on a regular basis, 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 Trends

The Instrument Segment is Expected to Experience Good CAGR over the Forecast Period

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, solely to provide information for diagnostics, monitoring, or compatibility purposes. Examples of IVD instruments include coagulation test systems, urine test strips, pregnancy tests, blood sugar monitoring systems, slide processing systems, cell imaging and analysis systems, and IVD assay and PCR testing platforms, like Abbott’s 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.

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. For instance, in April 2019, QIAGEN and NeuMoDx expanded the assay menu for their next generation of fully integrated PCR systems for clinical laboratories in Europe. They also announced the availability of NeuMoDx 96 version. The major players include Roche Diagnostics, Abbott Laboratories, Bio-Rad Laboratories Inc., Danaher Corporation, and Thermo Fisher Scientific Inc., who 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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