Europe Syndromic Multiplex Diagnostic Market – Industry Trends and Forecast to 2030

Europe Syndromic Multiplex Diagnostic Market, By Product and Services (Reagents and Consumables, Instruments, Software and Accessories and Services), Infection Type (Viral, Bacterial, Parasites and Fungal), Disease (Respiratory Infections, Gastroenteritis, Sexually Transmitted Infections, Sepsis, Meningitis and Others), Panels Type (Respiratory Panel, GI-Enteric Panel, Sexually Transmitted Disease Panel, Blood-Sepsis Panel, Meningitis Panel and Others), End User (Clinical Laboratories, Hospitals, Pharmaceutical and Biotechnology Companies, Research Institutes and Others) – Industry Trends and Forecast to 2030.

Europe Syndromic Multiplex Diagnostic Market Analysis and Size

According to a World Health Organization (WHO) report updated in September 2021, more than 55 million people worldwide live with dementia, and nearly 10 million new cases are diagnosed each year, with Alzheimer's disease (AD) accounting for the majority of cases. Several multiplex panels have been developed to detect such rare diseases. For example, the April 2021 article "Advances in multiplex PCR for Alzheimer's disease diagnostics targeting CDK genes" stated that the study's researchers developed a multiplex-PCR (polymerase chain reaction) based diagnostic method that demonstrated the rapid and accurate detection of AD biomarkers. Such advancements and research increase the demand for syndromic multiplex diagnostics, propelling the market forward.

Data Bridge Market Research analyses that the syndromic multiplex diagnostic market which is USD 3879.99 million in 2022, is expected to reach USD 7562.53 million by 2030, at a CAGR of 8.7% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Europe Syndromic Multiplex Diagnostic Market Scope and Segmentation  

Market Definition

Syndromic multiplex diagnostic testing is a type of advanced diagnostic test used to detect infectious diseases such as respiratory infection, infective gastroenteritis, sexually transmitted infections, sepsis, and meningitis, among others. The syndromic multiplex diagnostic also aids clinicians and hospitals in detecting the symptoms and signs of various diseases. This allows health care providers to provide the best treatment for their patients while also providing more precise outcomes and care that can be delivered more quickly.

Europe Syndromic Multiplex Diagnostic Market Dynamics

Drivers

• The rising demand for the diagnostic procedure for infectious diseases

Most patients' first symptoms of an infectious disease are not specific to the source of infection: fever, diarrhoea, coughing, headache, and so on. Traditionally, identifying the responsible disease agents involved testing for the most likely cause of a disease, waiting for test results, and then repeating the process if the results were negative.

As a result, the syndromic approach, which uses a single test for all microorganisms suspected of causing infectious disease, offers a novel approach to the problem of infectious disease diagnosis. When a disease is diagnosed, time is saved and the patient can begin treatment sooner. The syndromic multiplex diagnostic test provides more accurate, realistic, and comprehensive results in critical care. For instance, the BIOFIRE FILMARRAY technology, uses a single test to detect bacteria, viruses, fungi, or parasites that can cause infectious disease, with results available in 45 to 65 minutes.

• Rising demand for precise and timely results

Globally, there is an increasing demand for precise and timely results. For instance, Hologic, will launch the Novodiag System in Europe in October 2021. Novodiag is a fully automated molecular diagnostic solution for on-demand testing of infectious diseases and antimicrobial resistance. QuantuMDx will also launch its Q-POC, a rapid PCR point-of-care diagnostic system, in July 2021. QuantuMDx's Q-POC system and its first test, a SARS-CoV-2 detection assay, have also received CE-IVD marking under the In Vitro Diagnostics Directive, allowing them to be used in Europe. Such developments are expected to fuel market growth.

• Rising diagnostic healthcare expenditure

Rising healthcare spending is expected to increase service availability and affordability, allowing patients to select better and more precise diagnostic services to manage their diseases. Increased healthcare spending makes diagnostic services more readily available. As a result, high health-care spending is a positive factor driving the syndromic multiplex diagnostic market's growth.

Opportunities

• Strategic Initiatives are taken by market players

BioMérieux received CE marking for its molecular biology ARGENE test for the multiplex detection of influenza viruses A and B, SARS-CoV-2, and RSV and hMPV viruses in December 2020. This marking has aided the company in commercializing its product, increasing revenue while also providing an opportunity for market growth.

Restraints/Challenges

• High cost of Diagnostic Products

The real-time polymerase chain reaction (PCR) is used in multiplex syndromic testing applications to deliver results with amplification curves and correct values. The syndromic multiplex diagnostic instruments have high maintenance costs. As a result, the market faces a challenge due to the high cost of instruments.

This syndromic multiplex diagnostic market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the syndromic multiplex diagnostic market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In 2021, Cepheid (a Danaher subsidiary) received a CE mark for Xpert Xpress CoV-2/Flu/RSV plus, a rapid molecular test for detecting viruses causing COVID-19, Flu A, FluB, and respiratory syncytial virus infections. This has aided the company in expanding its presence.
• In 2020, BD announced that they had received Emergency Use Authorization (EUA) approval from the US Food and Drug Administration (FDA) for their additional molecular diagnostic test for COVID-19. The new test was also CE marked for the IVD Directive (98/79/EC). Following this announcement, the company's market credibility has increased.

Global Syndromic Multiplex Diagnostic Market Scope

The syndromic multiplex diagnostic market is segmented on the basis of product and services, infection type, disease, panels type and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product and Services

• Reagents and Consumables
• Instruments, Software and Accessories
• Services

Infection Type

• Viral
• Bacterial
• Parasites
• Fungal

Disease

• Respiratory Infection
• Gastroneteritis
• Sexually Transmitted Infections
• Sepsis
• Meningitis
• Others

Panels Type

• Respiratory Panel
• GI-Enteric Panel
• Sexually Transmitted Disease Panel
• Blood-Sepsis Panel
• Meningitis Panel
• Others

End User

• Hospitals
• Clinical Laboratories
• Pharmaceutical and Biotechnology Companies
• Research Institutes
• Others

Syndromic Multiplex Diagnostic Market Regional Analysis/Insights

The syndromic multiplex diagnostic market is analyzed and market size insights and trends are provided by country, product and services, infection type, disease, panels type and end user as referenced above.

The countries covered in the syndromic multiplex diagnostic market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.

Germany syndromic multiplex diagnostic market is expected to grow due to an upsurge in the prevalence of infectious diseases.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The syndromic multiplex diagnostic market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for syndromic multiplex diagnostic market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the syndromic multiplex diagnostic market. The data is available for historic period 2011-2021.

Competitive Landscape and Syndromic Multiplex Diagnostic Market Share Analysis

The syndromic multiplex diagnostic market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to syndromic multiplex diagnostic market.

Some of the major players operating in the syndromic multiplex diagnostic market are:

• Seegene Inc. (South Korea)
• Luminex Corporation (U.S.)
• F. Hoffmann-La Roche Ltd (Switzerland)
• BD (U.S.)
• Bio-Rad Laboratories, Inc. (U.S.)
• Danaher (U.S.)
• QIAGEN (Germany)
• Abbott (U.S.)
• Hologic, Inc. (U.S.)
• Thermo Fisher Scientific Inc. (U.S.)
• Siemens Healthcare GmbH (Germany)
• Biocartis (Belgium)
• QuantuMDx Group Ltd. (U.K.)
• Bosch Healthcare Solutions GmbH (Germany)
• Prominex Inc. (U.S.)
• Curetis (Germany)