The Europe in-vitro diagnostics market is expected to grow from US$ 22,616.55 million in 2022 to US$ 34,247.12 million by 2030. It is estimated to grow at a CAGR of 5.3% from 2022 to 2030.
Rise in the Demand for In-Vitro Diagnostics During COVID-19 Pandemic Fuels Europe In-Vitro Diagnostics Market
The European in-vitro diagnostics (IVD) market experienced a significant acceleration in demand as the COVID-19 pandemic spread across the continent. IVDs, encompassing critical diagnostic tools such as immunoassays and molecular assays, became essential for the identification and management of the infectious disease. Diagnostic companies actively focused on expediting their research, development, and manufacturing processes to effectively address the urgent needs of the COVID-19 crisis. Furthermore, regulatory bodies across Europe implemented temporary modifications to their existing guidelines, which facilitated the faster introduction and broader adoption of novel IVDs during this unprecedented period. Consequently, the demand for both molecular-based and immunoassay-based diagnostics witnessed a substantial upswing, further bolstered by various governmental initiatives and public health interventions aimed at controlling the pandemic. Additionally, numerous companies strategically expanded their production capacities and diversified their product offerings within the IVD sector to meet the escalating demand.
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Europe In-Vitro Diagnostics Market Overview
The European in-vitro diagnostics market is geographically segmented into key countries including Germany, France, the United Kingdom, Italy, Spain, and the broader Rest of Europe. The sustained growth of this market across these diverse regions can be primarily attributed to a growing public awareness and emphasis on proactive and precise disease diagnosis, a steadily increasing proportion of elderly individuals within the population demographic, and continuous technological progress within the in-vitro diagnostics industry, collectively contributing to the overall market expansion and dominance. Notably, Germany commands the largest market share within the European in-vitro diagnostic (IVD) landscape and is widely recognized for its strong commitment to research, development, and technological innovation. The German IVD industry benefits significantly from ongoing advancements in crucial scientific domains such as molecular biology, the development of sophisticated miniaturization technologies for diagnostic devices, and the widespread integration of automation across laboratory workflows. Furthermore, Germany’s ambitious “Industrie 4.0” initiative is actively promoting comprehensive digitalization across various industrial sectors, including ICD, through the dedicated development and implementation of “Lab 4.0,” which focuses on optimizing data management systems, deploying advanced cloud-based IT infrastructure, streamlining laboratory and production automation processes, and fostering enhanced digital connectivity and collaboration across the industry.
Europe In-Vitro Diagnostics Market Segmentation
The Europe in-vitro diagnostics market is segmented into product & services, technology, application, end user, and country.
Based on product & services, the Europe in-vitro diagnostics market is segmented into reagents & kits, instruments, and software & services. The reagents & kits segment held the largest share of the Europe in-vitro diagnostics market in 2022.
Based on technology, the Europe in-vitro diagnostics market is segmented into immunoassay/ immunochemistry, clinical chemistry, molecular diagnostics, microbiology, blood glucose self-monitoring, coagulation & hemostasis, hematology, urinalysis, and others. The immunoassay/ immunochemistry segment held the largest share of the Europe in-vitro diagnostics market in 2022.
Based on application, the Europe in-vitro diagnostics market is segmented into infectious diseases, diabetes, oncology, cardiology, autoimmune diseases, nephrology, and others. The infectious diseases segment held the largest share of the Europe in-vitro diagnostics market in 2022.
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