Description
The Europe IVD market is expected to reach over USD
15.5 billion by 2024 according to a new report by Grand View Research, Inc.
This expected increase in the demand is ascribed to the presence of novel and
promising technologies in clinical laboratories, such as the introduction of
Troponin T test by Roche Diagnostics in May, 2011
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Persistent research and development efforts made to
introduce automation in laboratories that perform analytical testsare projected
to propel the market growth over the forecast period. Clinical laboratory
operations require automated analyzers to cope with the large test
volumes,which enhance the overall operational workflow. It minimizes the need
for dedicated operator training andnegates the risk of human errors. In
addition, the rising demand for portable and handheld IVD devicesis one of the
major factors pushing forward the growth of the market.
The increasing prevalence of chronic diseases, such
as diabetes, cancers, and cardiac dysfunctions and the rising geriatric
population coupled with the rising awareness towards early diagnosis in
low-income countries, such as Bulgaria, Finland, Malta, and Estoniaare the
potential drivers of the Europe IVD market.
Further key findings from the study suggest:
In 2015, the reagents segment dominated the Europe
IVD market due to its increasing number of applications in the companion
diagnostics area and the introduction of disease specific kits, such as the
XpertTB kit
The IVD instruments market is anticipated to show
lucrative growth due to the introduction of portable instruments, such as
MinION Analyzer by Oxford Nanopore, and the availability of various platforms
to performtarget sequence analysis, thereby driving the overall demand
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Germany is one of the largest segments in 2015 with a
share of over 19% owing to the presence of a larger geriatric population base
in this region and the amendment ofthe German lawfor the prevention of
hospital-acquired infections
UK is expected to be the fastest growing
regionduring the forecast period.The rising demand for the point-of-care
devices coupled with the government interventions to incorporate innovative,
cost-effective solutions in the healthcare services are expected to drive the
market growth during the forecast period.
The hospital-based IVD testing segment held the
largest share of over 45% in 2015. The highprocedure volumes in this segment,
is one of the major reasons resulting inthehigh share and;hence, is anticipated
to maintain its market position over the forecast period.
The market players of the Europe IVD market include
Alere, Inc., bioMerieux, Inc., Hologic, Inc. (Gen-Probe), Roche Diagnostics,
Qiagen N.V., Bio-Rad Laboratories, Inc., Quidel Corporation, Abbott
Laboratories, Inc., Becton, Dickinson (BD) and Company, Inc., and Siemens
Healthcare GmbH
The presence of major IVD market players in Europe
accelerates the penetration of the IVD products throughout the European Union.
For instance, in September 2014, Roche Diagnostics launched the CE approved
Cobas 6800/8800 systems, which offers IVD-based viral load monitoring
withenhanced flexibility and automation
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