The Europe molecular diagnostics market size was valued at USD 1,750.0 million in 2015 and is expected to exhibit attractive growth over the forecast period. As a developed region, technology enhancement is enabling the European market to further grow through the development of new products. Characterized by a large geriatric population, the region has witnessed a gradual increase in the prevalence of chronic diseases, such as diabetes, cardiovascular, and other non-communicable diseases.
Increasing application of molecular diagnostics (MDx) to perform diagnosis of varied genetic disorders and conduct cancer screening are further providing a fillip to this vertical. The most frequently employed technique has been observed to be DNA sequence analysis, which aids in the determination of genotypic changes implicated in genetic diseases.
Incidence of hospital acquired infections have been growing at an alarming rate, which is a major factor expected to drive demand during the forecast period. Europe is marked with the presence of considerable number of key players that are involved in the manufacturing of MDx; such as Roche Diagnostics, based in Switzerland.
On the basis of products, the molecular diagnostics market is segmented into reagents, instruments, and other products, which include services and software programs that are helpful in running the instrumentation process.
The vertical is dominated by reagents with a share of over 50.0% in 2015. Growth of this segment has resulted from technological refinements in the diagnostic procedures employed to investigate multiple diseases. Reagents including formamide, salts, dextran sulphate or heparin, and SDS are commonly used in performing in-situ hybridization assays.
The reagents segment is also estimated to propel at an attractive double digit CAGR over the forecast period. Growing usage of techniques comprising fluorescence in situ hybridization is contributing to the further growth of this sector.
The market on the basis of test location comprises of point of care, self-testing or Over the Counter(OTC), and central laboratories. The dominant segment amongst them was central laboratories category with market revenue of over USD 1.1 billion in 2015. Primary factors driving this segment include the high patient footfall, higher access to trained professionals & staff, advanced infrastructure, and the availability of multiple clinical laboratory assays to perform molecular diagnosis of varied conditions.
The point of care (PoC) segment is estimated to grow at a lucrative CAGR over the forecast period. The growing demand for quick diagnosis coupled with the availability of newly-developed PoC technology to monitor drug responses, in patients with cardiac diseases, will contribute towards the growth of this segment
Infectious diseases segment held the largest market share, owing to the high prevalence of HIV, which resulted in largest revenue contribution of in 2015. Moreover, the development of new diagnostics tests in the area of infectious diseases is accentuating the growth of this vertical.
The oncology segment is expected to witness lucrative growth throughout the forecast period owing to increasing prevalence of cancer in Europe and the surging demand for early & efficient diagnosis.
PCR held the largest market share and DNA sequencing is expected to be the fastest growing technology platform over the forecast period
Molecular diagnostic technologies employing the pharmacogenomics approach is accelerating the development of the personalized medicine field. The major driving force for the molecular diagnostics market includes the development of technologies for analyzing the basis of hereditary disorders.
The PCR segment held the largest market share of around in 2015, attributable largely to the increasing application of molecular diagnostics in the field of pharmacogenomics and the growing usage of multiplex PCR technologies.
Roche offers PCR tests for the diagnosis of two most commonly reported sexually transmitted infectious diseases, such as Chlamydia trachomatis and Neisseria gonorrhea testing kits. The development of these rapid testing tools is further expected to propel the growth of this sector in Europe.
In 2015, Germany was identified as the largest market in Europe accounting for over 20.0% of the overall molecular diagnostics market share. Increasing base of elderly population and technological advances in the field of molecular diagnostics is leading the sector toward profitable growth.
The UK, likewise, presents an emerging market in this field with a lucrative growth over the forecast period. Factors contributing towards fastest growth include presence of a well-developed healthcare infrastructure, surging disposable income, and the rising awareness levels among individuals for the early diagnosis of life-threatening diseases including cancer and HIV.
Some key players of the Europe molecular diagnostics market include Bio-Rad Laboratories, Inc., Abbott Laboratories, Siemens Healthcare GmbH, Alere, Inc., Dako, Bayer AG, Hologic, Inc. (Gen probe), Danaher Corporation, Sysmex Corporation, Novartis AG, Johnson and Johnson, Qiagen N.V., Becton, Dickinson and Company, Roche Diagnostics, bioMérieux SA,and Cephid.
Mergers, acquisitions, new product development, and venture capital investments are few strategies being undertaken by the leading companies in response to the demanding economic conditions in both, the developed and developing nations
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