Europe Molecular Diagnostics Market Trends And Opportunities For The Industry By 2025

Transparency Market Research (TMR) observes that the Europe molecular diagnostics market is likely to see intensifying competition due to large number of players in the market. Companies are expected to focus on product differentiations and customizations to remain relevant in the competition. Thermo Fishcer Scientific and Bio-Rad Laboratories held a lion’s share in the regional market of about 50% in 2026. The leading companies will show a keen interest in mergers and acquisitions to expand their operations in the region.
According to the research report, the Europe molecular diagnostics market is expected to be worth US$769.0 mn by the end of 2025 from US$395.7 mn in 2016. Between the forecast years of 2017 and 2025, the regional market is expected to register a CAGR of 6.6%. Analysts expect that the real-time PCR systems segment will lead the pack as it is poised to be worth US$482.0 mn by the end of 2025. In terms of geography, Germany is expected to lead the Europe molecular diagnostics market as it accounts for US$185.2 mn in the regional market by the end of 2025.
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Increasing Affordability of Diagnostics Propels Growth of Europe Molecular Diagnostics Market
Europe molecular diagnostics market has been burgeoning due to the steady rise of healthcare expenditure. The growing awareness about various chronic diseases and disorders, access of diagnostic centers, and rising affordability of diagnostics are some of the key factors propelling the growth of the regional market. The report states that the increasing support from the government, improving investments in research and development of advanced diagnostics, and high prevalence of infectious diseases are also likely to make a significant contribution to the soaring revenue of the Europe molecular diagnostics market.
The World Cancer Research Fund International states that Denmark registered highest number of cancer cases in Europe in 2012. This was closely followed by France, Belgium, Ireland, and the Netherlands. Thus, the high prevalence of cancer is expected to spike the demand for real-time PCR systems, which are the most preferred assays for the detection of these chronic conditions. The significant rise in product launches in Europe, especially in the field of automated liquid handling systems is likely to augment the demand for lab automation systems. This shift toward automation is expected to benefit market growth in the coming years. Additionally, the partnerships and collaborations between companies and research institutes to offer advanced products are expected to strengthen the market growth over the forecast period.
Difficulty of Sourcing Skilled Labor to Hamper Market Growth
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On the flip side, the Europe molecular diagnostics market is being held back by a few factors. The key challenge for the players operating in the regional market is sourcing skilled labor, which is both expensive and scarce. Furthermore, as this skill gap worsens it is likely to make it tougher for the companies to keep their costs reasonable, which, in turn, will adversely impact revenue margins. The constantly growing need for new and improved technologies is also expected to act as an impediment for the molecular diagnostics market in Europe. For instance, adoption of next generation sequencing (NGS) is likely to discourage uptake of real-time PCR systems. Thus, these factors are likely to restrain the market from achieving its full potential. However, the market will have tremendous scope to grow as the demand for non-contact dispensing technologies is poised to augment the sale of liquid dispensing systems in the near future.
This review is based on Transparency Market Research’s report, titled “Molecular Diagnostics Market (Product - Real-time PCR Systems, Liquid Handling Systems, and DNA Extraction Systems; End User - Hospitals, Diagnostic Laboratories, Academic and Research Institutes, and Pharmaceutical and Biotechnology Companies) - Europe Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2017 – 2025.”

Europe Molecular Diagnostics Market Offering High-growth Opportunities for Market Players

The presence of a large number of vendors has rendered the competitive landscape of the Europe market for molecular diagnostics largely fragmented, observes a recent report by Transparency Market Research. The market is, however, dominated by few leading vendors such as F. Hoffmann-La Roche, Abbott Laboratories, QIAGEN N.V., Hologic, Inc., and Cepheid, Inc. Collectively, these companies accounted for a nearly 63% of the overall market in 2014. In the highly bullish market, companies compete on the basis of criteria such as product cost and accuracy of diagnostic kits associated with various test kits.

The number of mergers and acquisitions have increased in the past few years as companies attempt to exploit the vast growth opportunities in the market. Recent instances of acquisitions in the market would be the acquisition of GeneWEAVE BioSciences, Inc. and Ariosa Diagnostics, Inc. by Roche Diagnostics in 2015 and 2014, respectively. The market is expected to remain highly competitive in the next few years as companies strive to strengthen their footholds by developing technologically advanced tests and innovative products.

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Transparency Market Research estimates that the Europe molecular diagnostics market will exhibit a promising 11.4% CAGR over the period between 2015 and 2023, rising from a valuation of US$1.6 bn in 2014 to US$4.2 bn by 2023.

Western Europe Accounts for Leading Share

From a geographical standpoint, the Europe molecular diagnostics market has been segmented into Eastern Europe, Northern Europe, Western Europe, and South Europe. Of these, the market in Western Europe led the overall Europe molecular diagnostics market in 2014, accounting for a staggering 47%. This dominance is attributed to the region’s high population density and the rising prevalence of chronic infectious diseases. Over the report’s forecast period, the market for molecular diagnostics in Eastern Europe is expected to exhibit the leading, a 12.1% CAGR. Factors expected to support the Eastern Europe molecular diagnostic market’s growth are the high number of government-initiated awareness programs and rising healthcare expenditures.

In terms of application, the Europe market for molecular diagnostics benefits the most from infectious disease testing. This segment of the molecular diagnostics market in Europe held a valuation of US$484.5 mn in 2014 and is expected to expand at a promising 11.4% CAGR over the report’s forecast period.

Rising Prevalence of Chronic and Infectious Diseases Key Growth Factors

The leading factors driving the Europe market for molecular diagnostics include the vast rise in prevalence of chronic and infectious diseases in the region in the past few years. According to estimates by the WHO, nearly 3 mn new cancer cases were diagnosed in Europe in 2011, accounting for nearly 20% of the total deaths in the same year. As the gravity of disease and its rate of prevalence continues to worsen, government bodies are actively working towards the goal of increasing awareness regarding the need for timely diagnosis. This factor has led to a significant rise in the sales of a variety of molecular diagnostic kits in the region and is expected to continue to drive the market in the near future as well.

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Disparities in Reimbursement Policies to Restrain Market Growth

As molecular diagnostics tests are an integral part of medical care, medical diagnostic kits are reimbursed by several private sector and federal healthcare insurers in Europe. However, the rates of reimbursement are not specific in the industry and significantly differ with different payers. Along with this factor, the stringent screening and evaluation procedures that medical test kits, similar to all other healthcare products, undergo to gain approval from the European Commission challenges the overall growth prospects of the Europe molecular diagnostics market.

The study presented here is based on a recent market research report by Transparency Market Research, titled “Molecular Diagnostics Market (By Technology: Polymerase Chain Reaction, Hybridization (ISH and FISH), Mass Spectrometry, Transcription Mediated Amplification (TMA), Next Generation Sequencing, Biochips and Microfluidics, and Others (Nanotechnology and Proteomic); By Application: Oncology, Infectious Disease Testing, Genomics, Blood Screening, Women's Health, Microbiology, and Prenatal and Newborn Screening) - Europe Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015-2023.”

Molecular Diagnostics: Recent Trends and Future Perspectives

Molecular diagnostics is a technique utilized for monitoring and diagnosing diseases, detecting risks, and deciding the best therapies for patients. Molecular diagnostics is amongst the most rapidly growing segments of the in vitro diagnostics industry. The increasing occurrence of hospital-acquired infections and the increasingly unhealthy lifestyles of people within Europe are fuelling the development of the market for molecular diagnostics in this region.

Furthermore, a number of technological advancements within the field of molecular techniques, proteomics, and nanotechnology are also stimulating the growth of the market for molecular diagnostics within Europe. In addition, the rising acceptance of and awareness about personalized and companion medicines are also fuelling the Europe molecular diagnostics market. On the other hand, the rising reimbursement policy issues are amongst the prime factors impeding the growth of the market in Europe.

Polymerase Chain Reaction Held a Share of 40.1% in 2014

In terms of technology, the Europe molecular diagnostics market is segmented into polymerase chain reaction, mass spectrometry, hybridization (ISH and FISH), transcription mediated amplification (TMA), biochips and microfluidics, next-generation sequencing, and others including proteomic and nanotechnology. Amongst these, in 2014, the segment of polymerase chain reaction led the Europe molecular diagnostics market with a share of 40.1% owing to the cost-effectiveness of this technique in the amplification of copying of tiny segments of RNA or DNA. On the other hand, the segment of next-generation sequencing is poised to be the most swiftly developing segment in the coming years owing to its advantages such as speed, flexibility, and high throughput.

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Oncology Emerged as the Largest Application Area in 2015

On the basis of application, the molecular diagnostics market in Europe is segmented into infectious disease testing, oncology, genomics, women’s health, blood screening, prenatal and newborn screening, and microbiology. Amongst these, in 2014, the segment of infectious disease testing led the market with a share of 30.6% due to the rising occurrence of various chronic infectious diseases such as HIV, tuberculosis, and hepatitis, and others in Europe. On the other hand, the segment of oncology is predicted to rise at the swiftest CAGR from 2015 to 2025 due to the increasing occurrence of cancer within Europe.

Western Europe Molecular Diagnostics Market Held the Largest Share of 47.1% in 2014

In terms of geography, the Europe molecular diagnostics market is segmented into Eastern Europe, Northern Europe, Western Europe, Southern Europe, and Rest of Europe. Amongst these, in 2014, Western Europe dominated the molecular diagnostics market in Europe with a share of 47.1% owing to factors such as the rising count of government initiatives and the increasing occurrence of infectious disorders. Furthermore, the increasing preference of the population to affordable molecular diagnostics tests is also stimulating the growth of the Western Europe molecular diagnostics market. On the other hand, Eastern Europe is poised to be the most promising market in the coming years and is predicted to rise at the greatest growth rate between 2015 and 2023. The rising disposable incomes of people and the increasing healthcare awareness amongst people will boost the Eastern Europe molecular diagnostics market.

The prime players dominant in the market are Hologic, Inc., QIAGEN N.V., Cepheid, Inc., Alere. Inc., Siemens AG, BioMerieux, Thermo Fisher Scientific, Inc., PerkinElmer, Inc., and Bio-Rad Laboratories, among others.