Europe Immunochemistry Market to 2027 - Regional Analysis and Forecasts by Application; Product; End User, and Country

The Europe immunochemistry market is expected to reach US$ 775.97 Mn in 2027 from US$ 430.82 Mn in 2018. The market is estimated to grow with a CAGR of 6.9% from 2019-2027.

The growth of the immunochemistry market is primarily attributed to the significantly increasing prevalence of cardiovascular diseases and rising incidence of diabetes in the region. However, shortage of skilled professionals is likely to have a negative impact on market growth. On the other hand, rising healthcare expenditure in Europe is likely to have a positive impact on the growth of the Europe immunochemistry market in the coming years.

The growth of the immunochemistry market is primarily attributed to the significantly increased prevalence of cardiovascular diseases and the rising incidence of diabetes in the region. However, a shortage of skilled professionals is likely to have a negative impact on market growth. On the other hand, rising healthcare expenditure in Europe is expected to have a positive impact on the growth of the European immunochemistry market in the coming years.

Cardiovascular diseases (CVDs) are likely to endure the most significant cause of mortality and morbidity worldwide. The CVDs include the heart and blood vessels and include cerebrovascular disease, coronary heart disease, rheumatic heart disease, and other conditions. Some of the significant lifestyle factors which lead to cardiovascular disease and difficulties are the use of tobacco, unhealthy diet, and physical inactivity increases the risk of heart attacks and strokes. Whereas the other risk factors for cardiovascular diseases are diabetes, high blood pressure, increased level of cholesterol levels. CVDs are one of the major leading causes of death that affect more people as compared to any other disease across the globe. According to the World Health Organization, cardiovascular diseases are the number one cause of death across the world. According to the WHO data published in 2017, states that, in 2016, approximately 17.9 million people died from CVDs, which was 31.0% of all the global deaths. Among these, about 85% death estimated due to stroke and heart attack that are mainly caused due to fatty deposits that block the blood vessels that prevent blood from flowing to the brain or heart. Also, strokes are caused due to bleeding from a blood vessel in the brain or from blood clots. Heart attacks and strokes are caused due to increased consumption of tobacco use, unhealthy diet and obesity, physical inactivity and rising alcohol consumption, hypertension, and diabetes.

As per the data estimated by the European Cardiovascular Disease Statistics 2017, cardiovascular disease (CVD) causes 3.9 million deaths and more than 1.8 million deaths in Europe every year. The CVD accounts for 45.0% of all deaths in Europe and 37.0% of all deaths in the EU. CVD is the primary reason for the death of men and women in all countries. Furthermore, as per the American Heart Association (AHA) 2019 statistics, 121.5 million adults in the U.S. which are around half of the US adult population, suffer from cardiovascular disease.

In 2018, the diagnostics segment accounted for the largest market share in the Europe immunohistochemistry market by the application. The advancements in immunohistochemistry have extended the use of technology to diagnose various type of chronic diseases. The molecular diagnostics appplications have enabled to the treated patient as per their genetic make-up also the diagnosis through immunohistochemistry has increased the use in the precision medicine. Also, the cost-effective nature of the immunochemistry is driving significant growth across the region.

In 2018, the antibodies held the largest market share of the immunochemistry market, by product. This segment is also expected to dominate the market in 2027. Moreover, the reagent segment is anticipated to register the highest CAGR in the market during the forecast period, since they form an essential component of any reaction and can be chosen as per the result to be obtained.

In 2018, the hospital & diagnostic laboratories segment held the most significant market share of the immunochemistry market, by the end-user. This segment is also expected to dominate the market in 2027. Also, the segment is expected to grow at the fastest rate during the coming years owing to the rise in the prevalence of infectious diseases, cancer, and autoimmune disorders.

Some of the major primary and secondary sources for immunochemistry included in the report are, Federation of AIDS Organisations (AFAO), Agência Nacional de Vigilância Sanitária (ANVISA), HIV and AIDS organization (AVERT), Centers for Disease Control and Prevention (CDC), Centers for Diabetes and Endocrinology (CDE), Council of Scientific and Industrial Research (CSIR) and others.

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