Europe In-Vitro Diagnostics (IVDs) Market to Worth $31.68 Billion by 2029 - Germany to Dominate the Market in the Next 6 Years - Arizton

According to Arizton’s latest research report, the Europe in-vitro diagnostics (IVDs) market is growing at a CAGR of 2.23% during the forecast period.

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The market's growth is driven by increasing demand for in-vitro diagnostics solutions and an increase in the aging population with chronic infectious diseases. In addition, the increasing access to disease diagnosis and technology advancements in IVD solutions accelerate the adoption of IVD solutions.

The study considers a detailed scenario of the present in-vitro diagnostics market and its market dynamics for 2024−2029 in Europe. It thoroughly overviews several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent players operating in the market.

MARKET DRIVERS

Growing Importance for Personalised Medicine: Personalised medicine is becoming increasingly important as scientists learn more about genetic makeup. The undeniable potential of digitization in healthcare is driven by this industry's capacity to recognize the worldwide demand for more advanced and personalized care. The new European Partnership for Personalised Medicine (EP PerMed) was officially launched in 2023. This will promote all areas and disciplines of precision medicine, facilitate innovation and transfer, and encourage its consolidation in health systems, allowing continuous improvement.

Increasing Adoption of Automation in Laboratories: Integrating automation into the IVD manufacturing process benefits IVD device designers and manufacturers. Automation allows for the inclusion of software-based calculation, calibration, and documentation, improving test efficiency, calibration schedules, regulatory compliance, and instrument/equipment traceability. These benefits lead to less labor, reduced errors (standardization) risk, and fewer calibration tests. Furthermore, automated volumetric measurements simplify production fabrication processes by giving manufacturers better control over manufacturing equipment and steps on the production line. 

EUROPE IN-VITRO DIAGNOSTICS (IVDs) MARKET INSIGHTS

·        The reagents and consumables segment occupies a major market share of over 65% in the Europe in-vitro diagnostics (IVDs) market, owing to increasing focus on research in molecular biology and technological advancements in genomic sequencing. With the increasing adoption of in-vitro diagnostics solutions, the demand for reagents and consumables is increasing. Infectious diseases and pandemics such as COVID-19 significantly fuel the demand for reagents in diagnosis.

·        The hematology technology segment is growing significantly, with the fastest-growing CAGR during the forecast period. The growth of the hematology market is attributed to the increasing incidences of blood disorders and other diseases, rapid technological advances in hematology, and the emergence of high throughput hematology analyzers. As the demand for testing has surged in recent years, the laboratory's role in diagnosing and managing diseases has grown significantly.

·        The diabetic application segment showcases the highest growth rate in the Europe in-vitro diagnostics (IVDs) market. Rising health consciousness among the population and the demand for diabetes monitoring devices, coupled with the easy availability of advanced diabetes devices, are fostering market growth in this segment.

·        By end-user, the standard reference labs segment dominated the market share of the Europe in-vitro diagnostics (IVDs) market. In recent years, standard reference laboratories have rapidly expanded to offer numerous tests and deliver high market growth by adopting new technologies and product offerings, thus driving market growth.

REGIONAL ANALYSIS

Spain shows the highest growth rate, with a CAGR of 3% in Europe's in-vitro diagnostics (IVDs) market. The demand for IVD solutions has increased in the country due to the rising prevalence of chronic diseases associated with the aging population. In addition, awareness of early detection and diagnosis of various diseases, point-of-care IVD solutions, and advancing technologies in healthcare settings are major factors contributing to market growth.

SEGMENTATION & FORECAST

• Products & Services
• Reagents and Consumables
• Instruments/Analyzers & Software
• Services
• Technology
• Immuno and Clinical Chemistry
• Molecular Diagnostics
• Hematology
• Microbiology and Cytology
• Others
• Application
• Infectious Diseases
• Diabetes
• Cardiology
• Oncology
• Autoimmune Diseases
• Nephrology
• Drug Testing
• Others
• End-Users
• Standard Reference labs
• Hospital Affiliated Labs
• Individuals
• Clinics
• Others
• Region
• Germany
• France
• Russia
• Spain
• Italy
• U.K.

VENDORS LIST

• Key Vendors
• Abbott Laboratories
• bioMerieux
• Danaher
• Hoffmann-LaRoche
• Bio-Rad Laboratories
• Siemens Healthineers
• Thermo Fisher Scientific
• Diasorin
• Other Prominent Vendors
• Qiagen
• Quest Diagnostics
• Atomo Diagnostics
• Sysmex Corp
• Myriad Genetics
• Arkray Inc
• Agilent Technologies
• BD
• Illumina
• Mindray
• Revvity
• Grifols
• Hologic
• Amoy Diagnostics
• Altona Diagnostics
• Sentinel Diagnostics
• Epigenomics
• Seegene
• Medtronic
• Exact Sciences
• Ascensia Diabetes Care
• Werfen
• EKF Diagnostics
• Alpha Laboratories
• QuidelOrtho
• Accelerate Diagnostics
• Tosoh
• Menarini Diagnostics
• Horiba
• LifeScan
• AccuBiotech
• Agappe Diagnostics
• AgaMatrix
• B&E Biotechnology
• bioLytical Laboratories
• Bag Diagnostics
• Biocept
• Biosynex
• Biocartis
• Biomerica
• Boule Diagnostics
• Balio Diagnostics
• Cupid
• Caredx
• Contec Medical Systems
• Chembio Diagnostics
• CellaVision
• Dialab
• Dexcom
• Diagon
• Diatron
• Dirui
• Drucker Diagnostics
• EDAN Instruments
• ELITechGroup
• Trinity Biotech
• Erba Diagnostics
• Genrui Biotech
• BTNX
• Linear Chemicals
• INTEC
• J. Mitra & Co.
• Maccura Biotechnology
• Medsource ozone Biomedicals
• Trividia Health
• Meril Life Sciences
• MP Biomedicals
• NIHON KOHDEN
• Norma
• NOWDiagnostics
• Trivitron Healthcare
• OPKO Health
• OraSure Technologies
• Perkin Elmer
• Prestige Diagnostics
• Sekisui Diagnostics
• SFRI
• Shenzhen Dymind Biotechnology
• Shenzhen Landwind Medical
• Sinocare
• Spinreact

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