Report : Europe Acetaminophen Reagents Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product (Antibody/Substrate Reagent, Enzyme Reagent, Acetaminophen Antiserum, Acetaminophen Fluorescein Tracer, and Pretreatment Solution), Application (Enzymatic Assays and Immunoassay), and End User (Hospitals, Diagnostics Laboratories, POC Testing, Forensic Laboratories, and Others)
Enzymatic Assays Segment to Dominate Europe Acetaminophen Reagents Market During 2021–2028
According to a new market research study on “Europe Acetaminophen Reagents Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Application, and End User” is expected to reach US$ 222.79 million by 2028 from US$ 164.88 million in 2021. The market is estimated to grow at a CAGR of 4.4% from 2021 to 2028. The report provides trends prevailing in the Europe acetaminophen reagents market along with the drivers and restraints pertaining to the market growth. Rising adoption of acetaminophen testing and increasing incidence of drugs overdose are the major factor driving the growth of the Europe acetaminophen reagents market. However, surging risk of ADHD and other complication in pregnancy hinder the growth of Europe acetaminophen reagents market.
In case of COVID-19, Europe is highly affected specially the UK. The European region is severely affected due to the exponential growth of the COVID-19 pandemic like other parts of the planet. As per the European Centre for Disease Prevention and Control (ECDC), bans have been reintroduced due to the second wave of COVID-19 crises in the UK, Spain, and Italy. The rising occurrence rate of coronavirus results in increased stress on the region's healthcare system, raising the demand for diagnostic tests in its healthcare system, supporting the expansion of the sector in this region. The acetaminophen reagents market witnessed a shortfall at the beginning of the COVID-19 crisis due to disruption in the supply chain and slumped demand due to the lockdown announced by most European countries that caused disruptions in manufacturing and operations in the pharmaceutical sector. Additionally, appointments and operations have been delayed in many clinics around the world due to increasing cases, as approximately 40% of the diagnosed COVID-19 cases required hospitalization; and some critical cases were admitted to intensive care units (ICU). With the number of rising cases, there was a significant decrease in procedures due to a lack of healthcare resources. It also impacted the new product launches, impacting sales and growth of the market in the region. However, with the implementation of proper guidelines and protocols by the European Commission to reduce SARS-CoV-2 exposure and ease in restrictions on movement, the market is expected to grow in the forecast period.
The Europe acetaminophen reagents market has been segmented based on product, application, end user, and country. Based on product, the market has been segmented into antibody/substrate reagent, enzyme reagent, acetaminophen antiserum, acetaminophen fluorescein tracer, and pretreatment solution. The antibody/substrate reagent segment dominated the market in 2020 and enzyme reagent segment is expected to be fastest growing during forecast period. Based on application, the market has been segmented as enzymatic assays and immunoassay. The enzymatic assays segment dominated the market in 2020 and immunoassay segment is expected to be fastest growing during forecast period. Based on end user, the market has been segmented into hospitals, diagnostics laboratories, POC testing, forensic laboratories, and others. The hospitals segment dominated the market in 2020 and diagnostics laboratories segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into the UK, Germany, France, Italy, Spain, and rest of Europe.
Abbott; American Screening Corporation, Inc.; Beckman Coulter, Inc.; Bio-Rad Laboratories, Inc.; Biorbyt Ltd.; EKF Diagnostics; Randox Laboratories, Ltd.; Sekisui Diagnostics; Siemens Healthineers AG; and Thermo Fisher Scientific Inc. are among the leading companies in the Europe acetaminophen reagents market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Thermo Fisher Scientific Inc., the world leader in serving science, announced that it has completed its acquisition of PPD, Inc., a leading global provider of clinical research services to the biopharma and biotech industry, for $17.4 billion.
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