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Europe IVD Market Expected to Reach $26,623 million by 2023

Stand alone laboratories occupied the highest share of the market in 2016 and is expected to maintain the lead during the forecast period due to increase in prevalence of infectious & chronic diseases and improved healthcare infrastructure

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Europe IVD Market Expected to Reach $26,623 million by 2023

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  1. Europe IVD Market

  2. Stand alone laboratories occupied the highest share of the market in 2016 and is expected to maintain the lead during the forecast period due to increase in prevalence of infectious & chronic diseases and improved healthcare infrastructure. Europe IVD market was valued at $19,124 million in 2016, and is projected to reach at $26,623 million by 2023, growing at a CAGR of 4.7% from 2017 to 2023. Get Sample Report

  3. In vitro diagnostic tests are performed using biological samples to detect the health ailments and other diseases. Rise in technological developments in IVD techniques, increase in incidence and prevalence of chronic and infectious diseases and increase in government healthcare expenditure in the European region drive the market growth. However, stringent government regulations related to the safety and efficacy of the IVD and unfavorable reimbursement policies are expected to restrain the market growth during the forecast period.

  4. Based on product type, the reagents segment held the highest market share of third-fifths in 2016, due to introduction of efficacious reagents in the market that are utilized in IVD technology for the detection of several disease. Based on technique, the immunodiagnostics segment contributed the highest market share (one-third) in 2016, owing to the increase in prevalence of chronic diseases such as cancer that is analyzed by tissue or other diagnostic techniques and increase in demand for non-invasive techniques. Based on application, the infectious diseases segment contributed the highest market share (two-sevenths) in 2016, owing to the increase in prevalence of infectious diseases such as tuberculosis, malaria, and pertussis that fuel the IVD market.

  5. Key Findings of the Europe IVD Market: • The reagents segment dominated the market in 2016, and is projected to grow at the 3.7% CAGR. • The immunodiagnostics segment accounted for the highest share in 2016. • The pathology segment was the major shareholder in the Europe IVD market in 2016. • The standalone laboratory segment accounted for the highest share in 2016. • UK was the major shareholder of Europe IVD market in 2016. • Germany is expected to grow at the highest CAGR in the Europe IVD market.

  6. The major players profiled in the Europe IVD market are Thermo Fisher Scientific Inc., Alere Inc., Biomerieux, Danaher Corporation, F. Hoffmann-La Roche AG, Becton Dickinson and Company, Bio-Rad Laboratories, Bayer AG, Sysmex Corporation, and Johnson & Johnson.

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