The Europe diagnostic labs market is expected to grow from US$ 88.31 billion in 2022 to US$ 139.27 billion by 2028. It is estimated to grow at a CAGR of 7.9% from 2022 to 2028.
Point-of-care testing (POCT) has become critical to patient-centric healthcare due to the rapid diagnostic results required for accurate and faster treatment decisions. A shift from centralized point-of-care testing to decentralized testing for chronic and infectious patients has resulted in convenient patient access to these diagnostics. The current trend in Point-of-Care Diagnostics (POCD) is strongly tipping toward mobile healthcare (mH) smart devices, which could revolutionize personalized healthcare monitoring and management, paving the way for next-generation POCT. POCT can significantly improve infectious disease management, particularly in developing countries where access to timely medical care is challenging, and healthcare infrastructure is outdated and sparse.
In addition, technological developments in diagnostic kits have resulted in fewer manual errors, thus, becoming a prominent driver of the diagnostic labs market. The demand for high-quality point-of-care diagnostic kits is increasing rapidly with the rising prevalence of acute and chronic diseases. The extent of cirrhosis due to HBV varies across the region. Regionally, HBV is associated with one-third of deaths from HCC. Considering the above statistics, the demand for diagnostic products among patients is anticipated to increase in the coming years. The high prevalence of HIV is expected to boost the demand for point-of-care diagnostics and further accelerate the growth of the diagnostic labs market during the forecast period.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe diagnostic labs market growth at a notable CAGR during the forecast period.
Point-of-care testing (POCT) has become critical to patient-centric healthcare due to the rapid diagnostic results required for accurate and faster treatment decisions. A shift from centralized point-of-care testing to decentralized testing for chronic and infectious patients has resulted in convenient patient access to these diagnostics. The current trend in Point-of-Care Diagnostics (POCD) is strongly tipping toward mobile healthcare (mH) smart devices, which could revolutionize personalized healthcare monitoring and management, paving the way for next-generation POCT. POCT can significantly improve infectious disease management, particularly in developing countries where access to timely medical care is challenging, and healthcare infrastructure is outdated and sparse.
In addition, technological developments in diagnostic kits have resulted in fewer manual errors, thus, becoming a prominent driver of the diagnostic labs market. The demand for high-quality point-of-care diagnostic kits is increasing rapidly with the rising prevalence of acute and chronic diseases. The extent of cirrhosis due to HBV varies across the region. Regionally, HBV is associated with one-third of deaths from HCC. Considering the above statistics, the demand for diagnostic products among patients is anticipated to increase in the coming years. The high prevalence of HIV is expected to boost the demand for point-of-care diagnostics and further accelerate the growth of the diagnostic labs market during the forecast period.
With new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe diagnostic labs market growth at a notable CAGR during the forecast period.
Europe Diagnostic Labs Market Segmentation
The Europe diagnostic labs market is segmented on the basis of lab type, testing services, revenue source, and country.- Based on lab type, the market is segmented into single/independent laboratories, hospital-based labs, physician office labs, and others.
- Based on testing services, the market is divided into physiological function testing, covid-19 testing, general and clinical testing, esoteric testing, specialized testing, non-invasive prenatal testing, and others. By physiological testing services, the market is segmented into ECG, Echo, X-ray, endoscopy, CT, MRI, and others.
- Based on revenue source, the market is divided into healthcare plan operators and insurers, out-of-pocket, and public systems.
- Based on country, the regional market is segmented into Germany, the UK, France, Italy, Spain, and the Rest of Europe.
Europe Diagnostic Labs Market - Companies Mentioned
Quest Diagnostics Incorporated; Eurofins Scientific; Laboratory Corporation of America Holdings; Exact Sciences Laboratories LLC; SYNLAB International GmbH; Dasa Labs; Bio Reference; and Healius Limited are a few major companies operating in the Europe diagnostic labs market.Table of Contents
1. Introduction
3. Research Methodology
4. Europe Diagnostic Labs Market - Market Landscape
5. Europe Diagnostic Labs Market - Key Market Dynamics
6. Europe Diagnostic Labs Market-Market Analysis
7. Europe Diagnostic Labs Market Revenue and Forecast to 2028 - by Lab Type
8. Europe Diagnostic Labs Market Revenue and Forecast to 2028 - by Testing Services
9. Europe Diagnostic Labs Market Revenue and Forecast to 2028 - by Revenue Source
10. Europe Diagnostic Labs Market Revenue and Forecast to 2028- by Country
11. Europe Diagnostic Labs Market-Industry Landscape
12. Company Profiles
13. Appendix
Companies Mentioned
- Quest Diagnostics Incorporated
- Eurofins Scientific
- Laboratory Corporation of America Holdings
- Exact Sciences Laboratories LLC
- SYNLAB International GmbH
- Dasa Labs
- Bio Reference
- Healius Limited
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 171 |
| Published | September 2022 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 88.31 Million |
| Forecasted Market Value ( USD | $ 139.27 Million |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 8 |
