Report : Europe Molecular Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Disease Area (Infectious Disease, Oncology, Genetic Testing, Cardiac Diseases, Immune System Disorders, and Others) , By Technology(Polymerase Chain Reaction (PCR),In Situ Hybridization, Isothermal Nucleic Acid Amplification Technology (INAAT),DNA Sequencing and Next-Generation Sequencing (NGS),DNA Microarrays, and, Others) , By Type(RT-PCR,qPCR ,Multiplex PCR, and Others), By Product and Services(Assays and Kits ,Instruments ,Services and Software),And By End User(Diagnostic Laboratories ,Hospitals and Clinics ,Research and Academic Institutes ,and Others)
Oncology Segment has the Largest Share of Disease Area in the Europe Molecular Diagnostics Market during 2020–2028
According to a new market research study on “Europe Molecular Diagnostics Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Disease Area, Technology, Type, Product and Services, and End User” is expected to reach US$ 8,924.78million by 2028 from US$ 3,708.43million in 2021. The market is estimated to grow at a CAGR of 11.7% from 2021 to 2028. The report provides trends prevailing in the Europe molecular diagnostics market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to increase in Demand for Point-of-Care and Developments by Market Players are the key factors driving the market growth. However, the market is expected to experience slow growth during the forecast period owing to limitations associated the Molecular Testing.
European region is highly affected by the outbreak of the COVID-19 pandemic. Countries like Italy, Spain, the UK, Germany, France, and other European counties such as Russia, Switzerland are highly affected. The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK are among the most affected European countries, and the number of deaths is also high. An increase in demand for identifying the potential COVID19 patients is expected to boost the region's overall demand for diagnostic kits. Moreover, the self-test and at-home test kits are gaining popularity among the general population, which positively impacts the molecular diagnostics market. However, the panic buying of molecular diagnostic products is expected to have a negative impact on the molecular diagnostics market.
The Europe molecular diagnostics market is segmented on the basis of disease area, technology, type, product and services, and end user. By disease area, the market is segmented into oncology, infectious disease, genetic testing, cardiac diseases, immune system disorders, and others. The infectious diseases segment held the largest share of the market in 2021; however, the oncology segment is anticipated to register the highest CAGR in the market during the forecast period.
Abbott ,; Agilent Technologies, Inc. ,; Thermo Fisher Scientific Inc.,; F. Hoffmann-La Roche Ltd. ,; QIAGEN, bioMérieux SA ,; Siemens Healthiness AG ,; Illumina, Inc.,; and Danaher, Novartis AG. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for Europe molecular diagnostics market is segmented into disease area, technology, type, product and services, and end-user. Based on Disease Area, the Europe molecular diagnostics market is segmented into infectious disease, oncology, genetic testing, cardiac diseases, immune system disorders, and others. Based on Technology, the Europe molecular diagnostics market is segmented into Polymerase Chain Reaction (PCR),In Situ Hybridization, Isothermal Nucleic Acid Amplification Technology (INAAT), DNA Sequencing and Next-Generation Sequencing (NGS), DNA Microarrays, Others. Based on type, the Europe molecular diagnostics market is segmented into RT-PCR, qPCR, Multiplex PCR, Others. Based on Product & Services the Europe molecular diagnostics market is segmented into Assays and Kits, Instruments, Services and Software, And Based on end user the Europe molecular diagnostics market is segmented into diagnostic laboratories, hospitals, and clinics, research and academic institutes, and others. Regionally, the Europe molecular diagnostics market is segmented into (UK, Germany, France, Italy, Spain, and the Rest of Europe.)
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