By April 2021, chronic diseases will cause about 41 million deaths annually or 71% of all fatalities, predicts the World Health Organization (WHO). The management of chronic illness conditions and the prevention, detection, and diagnosis of disease have thus all shown the value of diagnostic tests. Clinical diagnostics enable early prevention and intervention by identifying specific risk factors and warning indicators. As a result, the market is anticipated to expand as chronic illnesses become more common.
According to Data Bridge Market Research, Diagnostic Tests Market was USD 160,573.05 million in 2022, is expected to reach USD 324678.67 million by 2030, at a CAGR of 9.2% during the forecast period 2023 to 2030
"Increasing prevalence of chronic diseases surge market demand"
The increasing prevalence of chronic diseases in Europe, including cardiovascular diseases, cancer, diabetes, and infectious diseases, has created a greater demand for diagnostic tests. Early and accurate diagnosis is vital in effective disease management and treatment. Diagnostic tests enable healthcare professionals to detect diseases early, facilitating timely interventions and improving patient outcomes. The growing adoption of diagnostic tests in Europe is driven by the need for early detection and efficient management of chronic diseases, ultimately improving public health.
What restraints the growth of the diagnostic tests market?
"Cost constraints can impede the market growth”
Cost constraints in the diagnostic tests market arise from the expenses of advanced technologies and specialized tests. The high costs can limit accessibility and affordability, particularly in healthcare systems with limited resources and for patients facing financial constraints. Such barriers can result in delayed or inadequate diagnosis, impacting patient outcomes. Efforts to address cost constraints involve balancing innovation and cost-effectiveness, promoting cost transparency, and exploring reimbursement models that ensure equitable access to diagnostic tests for all patients.
Segmentation: Europe Diagnostic Tests Market
The diagnostic tests market is segmented on the basis of type, solution, technology, mode of testing, approach, sample type, application, testing type, age, end user and distribution channel.
- On the basis of type, the diagnostic tests market is segmented into glucose test, Infectious Diseases test, cytology test, cbc test, blood culture test, syphilis test, urea test, c-reactive protein test, antigen test, hba1c test, pregnancy test, lipid profile test, electrolytes test, liver function test, stool helicobacter pylori test, calcium test, crossmatch test, thyroid function test, stool microscopy test, urine microscopy test, unit packed rbcs test, esr test and others test.
- On the basis of solutions, the diagnostic tests market is segmented into services and products.
- On the basis of technology, the diagnostic tests market is segmented into immunoassay-based, pcr-based, next gene sequencing, spectroscopy-based, chromatography-based, Microfluidics, substrate technology and others
- On he basis of mode of testing, the diagnostic tests market is segmented into prescription-based testing and otc testing
- On the basis of approach, the diagnostic tests market is segmented into molecular diagnostic instrument, in-vitro diagnostic instrument and point of care testing instrument
- On the basis of sample type, the diagnostic tests market is segmented into urine, saliva, blood, hair, sweat and others
- On the basis of application, the diagnostic tests market is segmented into cardiology, oncology, neurology, orthopedics, gastroenterology, gynecology, odontology and others
- On the basis of testing type, the diagnostic tests market is segmented into biochemistry, haematology, microbiology, histopathology and others
- On the basis of age, the diagnostic tests market is segmented into pediatric, adult and geriatric
- On the basis of end user, the diagnostic tests market is segmented into hospitals, diagnostic center, research labs and institutes, research institute, homecare, blood banks, specialty clinics, ambulatory surgical centers and others
- On the basis of distribution channel, the diagnostic tests market is segmented into direct tenders, retail sales and online sales.
Regional Insights: Germany Dominate the Europe Diagnostic Tests Market
Germany's dominance in the Europe diagnostic tests market can be attributed to strategic initiatives undertaken by the government. These initiatives include acquisitions and focused product launches in specific segments alongside expanding their reach and enhancing their product portfolio, companies in Germany can generate more revenue. The government's support and strategic approach to promoting the growth of diagnostic tests have positioned Germany as a key player in the market, driving its dominance in the region.
To know more about the study, visit, https://www.databridgemarketresearch.com/ar/reports/europe-diagnostic-tests-market
Recent Developments in Europe Diagnostic Tests Market
- In 2020, The RAPIDPoint 500e Blood Gas Analyzer, which broadened the company's product line and is also utilized in COVID-19 efforts, was officially released by Siemens Healthcare GmbH. As a result, the line's revenue rises.
- In 2020, A ten-year partnership between Siemens Healthcare GmbH and the Marienhaus Hospital Group has been announced. Long-term, the company will gain from this collaboration in terms of diagnostics. The financial situation of the business will also benefit from this agreement.
The Prominent Key Players Operating in the Europe Diagnostic Tests Market Include:
- F-Hoffman La-Roche Ltd. (Switzerland)
- ABBOTT (U.S.)
- Danaher (U.S.)
- B.D. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- ACON Laboratories Inc. (U.S.)
- Hemosure, Inc. (U.S.)
- MicroGen Diagnostics (U.S.)
- QIAGEN (Germany)
- Grifols, S.A (Spain)
- BODITECH MED INC. (South Korea)
- Chembio Diagnostic Systems, Inc. (U.S.)
- Nanoentek (South Korea)
- DiaSorin S.p.A. (Italy)
- Bio-Rad Laboratories, Inc. (U.S.)
- BIOMEDOMICS INC (U.S.)
- EKF Diagnostics Holdings plc (U.K.)
- Siemens Healthcare GmbH (Germany)
- PerkinElmer Inc. (U.S.)
- BIOMÉRIEUX (France)
- ARKRAY USA, Inc. (U.S.)
- Biohit Oyj (Finland)
- Germaine Laboratories, Inc. (U.S.)
- Quidel Corporation (U.S.)
- Illumina, Inc. (U.S.)
- Lamdagen Corporation (U.S.)
- LifeSign LLC. (U.S.)
- Medixbiochemica (Finland)
- Nova Biomedical (U.S.)
- Ortho Clinical Diagnostics (U.S.)
- Sannuo Biosensing Co., Ltd. (U.S.)
- STRECK (U.S.)
- Sysmex Corporation (Japan)
Above are the key players covered in the report, to know about more and exhaustive list of Europe diagnostic tests market companies contact, https://www.databridgemarketresearch.com/ar/contact
Research Methodology: Europe Diagnostic Tests Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
