Allied Market Research has published a study report with the title Europe In Vitro Diagnostics (IVD) Market Size is projected to Garner USD 18 Billion by 2027 at a CAGR of 4.8% During Forecast Period.
In vitro diagnostics is defined as medical devices which are used by laboratories to perform diagnostic tests. These tests are performed on samples collected from a patient’s body such as blood, urine, and tissues. Furthermore, medical devices used to perform in vitro diagnosis also require the use of various technologies to conduct tests. For instance, blood collected from a patient is analyzed for hepatitis infection by using enzyme linked immunosorbent assay technique to analyze the blood. Furthermore, the testing procedure also requires use of various chemicals & reagents and software for smooth operations. In addition, in vitro diagnostics are used for detection of various medical conditions such as infectious diseases, diabetes, oncology/cancer, cardiology diseases, autoimmune diseases, nephrology, and HIV/AIDS. Moreover, these tests are performed in various medical facilities such as hospitals, standalone laboratories, and academic & medical schools.
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Top Key Players of Europe In Vitro Diagnostics
- 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
- JOHNSON & JOHNSON
What Are the Market Drivers for Europe In Vitro Diagnostics?
In vitro diagnostics (IVD) is a growing market in Europe, driven by several factors. Some of the key market drivers for Europe’s IVD industry include:
- Aging population: The aging population in Europe has created a demand for IVD tests, as the incidence of chronic and age-related diseases such as cancer, cardiovascular disease, and diabetes increase. This has led to an increase in demand for diagnostic tests that can detect these diseases early and accurately.
- Technological advancements: Advances in technology, including automation, miniaturization, and digitalization, have led to the development of more accurate, efficient, and cost-effective diagnostic tests. These advancements have allowed for faster and more precise diagnoses, and the development of new tests and applications.
- Increasing healthcare expenditure: Healthcare expenditure in Europe is increasing, driven by growing demand for healthcare services, an aging population, and rising healthcare costs. As a result, healthcare providers are looking for more cost-effective solutions, including the use of IVD tests to improve patient outcomes and reduce costs.
- Government initiatives: Governments in Europe are increasingly investing in healthcare infrastructure, including IVD testing facilities. In addition, regulatory bodies are implementing policies and regulations to ensure the safety and efficacy of diagnostic tests, which has helped to drive growth in the market.
- Rising awareness and screening programs: Increased public awareness and education campaigns, as well as screening programs for certain diseases, have led to increased demand for diagnostic tests. For example, programs to screen for certain cancers, such as breast and cervical cancer, have led to increased demand for tests such as mammograms and Pap smears.
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Europe In Vitro Diagnostics Market Segmentation can be done based on several factors, including:
By Product Services
- Chemicals & Reagents
- Instruments
- Software and Services
By Techniques
- Immunodiagnostics
- Blood Testing
- Molecular Diagnostics
- Tissue Diagnostics
- Other IVD Techniques
- Hematology
- Clinical Chemistry
By Application
- Infectious Diseases
- Cancer
- Cardiac Diseases
- Immune System Disorders
- Nephrological Diseases
- Gastrointestinal Diseases
- Other Indications
By End Users
- Standalone Laboratory
- Hospitals
- Academic and Medical Schools
- Point of Care Testing
- Others
By Country
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
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