Monday, July 6th, 2020

Europe Diagnostics Market To Witness Significant Growth until 2025

Increasing geriatric population is expected to drive the growth of Europe Diagnostics market

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According to TechSci Research report, “Europe Diagnostics Market By Product Type (Reagents, Instruments, Software & Services), By Type of Test (Lipid Panel, Metabolic Panel, Infectious Disease Testing, Others), By Technique (Immunodiagnostics, Molecular Diagnostics, Tissue Diagnostics, Clinical Techniques, Others), By Usability (Reusable v/s Disposable), By Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, Others), By End User (Hospitals & Clinics, Diagnostic Centers, Point-of-Care Testing Centers, Private or Commercial Laboratories, Others), By Country, Forecast & Opportunities, 2025”, the Europe Diagnostics Market is expected to grow at an impressive rate during the forecast period on account of the increasing number of diagnostic centers, laboratories and point of care testing centers. Additionally, increasing lab automation and adoption of advanced technologies in the healthcare industry is further expected to foster the market growth through 2025. Furthermore, increasing investments on advanced healthcare infrastructure coupled with new diagnostic products, instruments or testing techniques launches by the major players operating in the market, is expected to create lucrative opportunities for the market growth over the next few years. Besides, associated benefits such as early disease detection, disease management, ease of procurement of samples, quick results delivery, availability of affordable tests, lesser pain, among others are further expected to fuel the market growth during the forecast period. However, stringent regulations pertaining to approval of diagnostic products, kits, reagents, instruments, among others might restrict the market growth through 2025. Also, slow reimbursement rate might further hamper the market growth.

"Europe Diagnostics Market"

The Europe Diagnostics Market is segmented based on product type, type of test, technique, usability, application, end user, company and region. Based on product type, the market can be categorized into reagents, instruments and software & services.Among these, the instrument segment is expected to register significant growth in the market owing to the increasing demand for advanced medical instruments and equipment, which deliver accurate and reliable diagnostic test results.Based on technology, the market can be categorized into immunodiagnostics, molecular diagnostics, tissue diagnostics, clinical techniques and others. Out of these, the molecular diagnostics market is expected to dominate the market owing to the increasing application of molecular diagnostic techniques in point-of-care testing and pharmacogenetics. Additionally, increasing number of blood tests being performed on account of growing prevalence of chronic diseases is further driving the segmental growth.Based on end user, the market can be fragmented into hospitals & clinics, diagnostic centers, point-of-care testing centers, private or commercial laboratories and others. Here, the hospitals segment is expected to dominate the market owing to the increasing volumes of tests being conducted in hospitals. However, the point-of-care testing centers are expected to witness significant growth in the market owing to the increasing geriatric population suffering from various diseases. Additionally, these tests deliver immediate results and help in improving overall patient care.

Roche Diagnostics, Alere, Inc., Abbott Laboratories, Inc., Hologic, Inc. (Gen-Probe), Qiagen N.V., Bio-Rad Laboratories, Inc., Quidel Corporation, Becton, Dickinson (BD) Company, Inc., bioMerieux, Inc., Siemens Healthcare GmbH and othersare some of the leading players operating in Europediagnosticsmarket.The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“European countries have a highly regulated healthcare infrastructure owing to the presence of major healthcare and pharmaceutical companies in the region. The Europe diagnostics market is expected to grow at a formidable rate owing to the increasing awareness regarding preventive healthcare among the population. Additionally, supportive government policies and schemes for promoting better healthcare and disease prevention are further expected to create lucrative opportunities for the market growth through 2025.”said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Europe Diagnostics Market By Product Type (Reagents, Instruments, Software & Services), By Type of Test (Lipid Panel, Metabolic Panel, Infectious Disease Testing, Others), By Technique (Immunodiagnostics, Molecular Diagnostics, Tissue Diagnostics, Clinical Techniques, Others), By Usability (Reusable v/s Disposable), By Application (Infectious Diseases, Cancer, Cardiac Diseases, Immune System Disorders, Nephrological Diseases, Gastrointestinal Diseases, Others), By End User (Hospitals & Clinics, Diagnostic Centers, Point-of-Care Testing Centers, Private or Commercial Laboratories, Others), By Country, Forecast & Opportunities, 2025”, has evaluated the future growth potential of Europediagnosticsmarketand provides statistics &information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Europe Diagnostics market.

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