Report : Europe Molecular Diagnostics Market Forecast to 2030 - Regional Analysis - by Disease Area (Oncology, Infectious Disease, Genetic Testing, Cardiac Diseases, Immune System Disorders, and Others), Technology (Polymerase Chain Reaction, Isothermal Nucleic Acid Amplification Technology, DNA Sequencing & Next-Generation Sequencing, DNA Microarrays, In-Situ Hybridization, and Others), Product and Services (Assays & Kits, Instruments, and Services & Software), and End User (Hospitals & Clinics, Diagnostic Laboratories, Research & Academic Institutes, and Others)
At 11.8% CAGR, the Europe Molecular Diagnostics Market is Speculated to be Worth US$ 11,225.77 Million by 2030, says The Business Market Insights
According to the Business Market Insights’ research, the Europe molecular diagnostics market was valued at US$ 4,592.54 million in 2022 and is expected to reach US$ 11,225.77 million by 2030, registering a CAGR of 11.8% from 2022 to 2030. Development of new products and increase in demand for point-of-care testing and surging prevalence of associated diseases are the critical factors attributed to the Europe molecular diagnostics market expansion.
Molecular diagnostic techniques and platforms are being used in all areas of anatomic and clinical pathologies. DNA or RNA sequences that are associated with disease, including single nucleotide polymorphism, deletions, rearrangements, and insertions, can be detected in molecular diagnostic tests. Molecular diagnosis has undergone further improvements after the emergence of COVID-19. Conventionally, CT scans, hematological tests, and RT-PCR were in use for testing. As COVID-19 cases grew rapidly in 2020, the need for rapid, precise testing platforms surged to overcome the disadvantages of conventional testing. Computed tomography (CT), a cost-intensive procedure that may not be available in all hospitals, fails to detect viral infections and other diseases in asymptomatic patients. RT-PCR, which was widely used, was also time-consuming and expensive, and was unable to detect a low viral load during the early stages of infection. Consequently, researchers developed novel approaches to detect SARS-CoV-2, which were faster and more cost effective. Reverse transcription loop-mediated isothermal amplification (RT-LAMP), microarray-based detection, aptamer-based diagnosis, SHERLOCK, SHERLOCKv2, FET Biosensors, cell-based potentiometric diagnosis, and molecular imprinting technology are a few of the examples of novel molecular diagnostics techniques developed for COVID-19 diagnosis. In the last few years, FDA reports have indicated that advancements in molecular testing, antigen-dependent testing, and serological testing have been approved. Collaborative efforts by scientific communities in different countries to manage the COVID-19 pandemic and reduce the extent of mortality have benefited the overall molecular tools and diagnosis landscape, which is likely to create significant opportunities for the molecular diagnostics market in the future.
On the contrary, limitations associated with molecular testing hurdles the growth of Europe molecular diagnostics market.
Based on disease area, the Europe molecular diagnostics market is segmented into infectious disease, oncology, genetic testing, cardiac diseases, immune system disorders, and others. The infectious disease segment held 42.1% share of Europe molecular diagnostics market in 2022, amassing US$ 1,931.90 million. It is projected to garner US$ 4,788.64 million by 2030 to expand at 12.0% CAGR during 2022–2030.
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, and others. The polymerase chain reaction (PCR) segment held 47.5% share of Europe molecular diagnostics market in 2022, amassing US$ 2,182.30 million. It is projected to garner US$ 5,497.17 million by 2030 to expand at 12.2% CAGR during 2022–2030. The polymerase chain reaction (PCR) is further sub segmented into RT-PCR, qPCR, multiplex PCR, and others.
Based on product and services, the Europe molecular diagnostics market is segmented into assays and kits, instruments, and services and software. The assays and kits segment held 64.7% share of Europe molecular diagnostics market in 2022, amassing US$ 2,969.82 million. It is projected to garner US$ 7,513.11 million by 2030 to expand at 12.3% CAGR during 2022–2030.
Based on end users, the Europe molecular diagnostics market is segmented into diagnostic laboratories, hospitals and clinics, research and academic institutes, and others. The diagnostic laboratories segment held 39.3% share of Europe molecular diagnostics market in 2022, amassing US$ 1,807.09 million. It is projected to garner US$ 4,538.76 million by 2030 to expand at 12.2% CAGR during 2022–2030.
Based on country, the Europe molecular diagnostics market has been categorized into the UK, Germany, France, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 25.7% share of Europe molecular diagnostics market in 2022. It was assessed at US$ 1,178.27 million in 2022 and is likely to hit US$ 2,944.39 million by 2030, exhibiting a CAGR of 12.1% during 2022–2030.
Key players operating in the Europe molecular diagnostics market are Abbott Laboratories, Agilent Technologies Inc, Thermo Fisher Scientific Inc, F. Hoffmann-La Roche Ltd, Qiagen NV, bioMerieux SA, Illumina Inc, Danaher, Siemens Healthineers AG, and Novartis AG, among others.
- In July 2023, Thermo Fisher launched new software for molecular diagnostics labs. This software helps in streamlining routine diagnostics testing for standardization and rapid time-to-results. It can enhance the potential of a lab to dynamically respond to quickly changing testing environments by connecting workflow steps within a single interface.
- In Nov 2021, Thermo Fisher Scientific Inc., the world leader in serving science, has innovative proteomics solutions and a series of co-marketing agreements with industry experts, advancing the throughput, comprehensiveness, and quality of proteomics workflows for applications such as single-cell studies and translational research.
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