LONDON, Sept. 29, 2016 /PRNewswire/ -- The Europe IVD
market is expected to reach over USD 15.5
billion by 2024 according to a new report by Grand View
Research, Inc. This expected increase in the demand is ascribed to
the presence of novel and promising technologies in clinical
laboratories, such as the introduction of Troponin T test by Roche
Diagnostics in May, 2011.
Persistent research and development efforts made to introduce
automation in laboratories that perform analytical testsare
projected to propel the market growth over the forecast period.
Clinical laboratory operations require automated analyzers to cope
with the large test volumes,which enhance the overall operational
workflow. It minimizes the need for dedicated operator training
andnegates the risk of human errors. In addition, the rising demand
for portable and handheld IVD devicesis one of the major factors
pushing forward the growth of the market.
The increasing prevalence of chronic diseases, such as diabetes,
cancers, and cardiac dysfunctions and the rising geriatric
population coupled with the rising awareness towards early
diagnosis in low-income countries, such as Bulgaria, Finland, Malta, and Estoniaare the potential drivers of
the Europe IVD market.
Further key findings from the study suggest:
In 2015, the reagents segment dominated the Europe IVD market
due to its increasing number of applications in the companion
diagnostics area and the introduction of disease specific kits,
such as the XpertTB kit
The IVD instruments market is anticipated to show lucrative
growth due to the introduction of portable instruments, such as
MinION Analyzer by Oxford Nanopore, and the availability of various
platforms to performtarget sequence analysis, thereby driving the
overall demand
Germany is one of the largest
segments in 2015 with a share of over 19% owing to the presence of
a larger geriatric population base in this region and the amendment
ofthe German lawfor the prevention of hospital-acquired
infections
UK is expected to be the fastest growing regionduring the
forecast period.The rising demand for the point-of-care devices
coupled with the government interventions to incorporate
innovative, cost-effective solutions in the healthcare services are
expected to drive the market growth during the forecast period.
The hospital-based IVD testing segment held the largest share of
over 45% in 2015. The highprocedure volumes in this segment, is one
of the major reasons resulting inthehigh share and;hence, is
anticipated to maintain its market position over the forecast
period.
The market players of the Europe IVD market include Alere, Inc.,
bioMerieux, Inc., Hologic, Inc. (Gen-Probe), Roche Diagnostics,
Qiagen N.V., Bio-Rad Laboratories, Inc., Quidel Corporation, Abbott
Laboratories, Inc., Becton, Dickinson (BD) and Company, Inc., and
Siemens Healthcare GmbH
The presence of major IVD market players in Europe accelerates the penetration of the IVD
products throughout the European Union. For instance, in
September 2014, Roche Diagnostics
launched the CE approved Cobas 6800/8800 systems, which offers
IVD-based viral load monitoring withenhanced flexibility and
automation.
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