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European In Vitro Diagnostics (IVD) Market revenue to cross $29 Bn by 2028
Published Date: 2022-09-27
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European In Vitro Diagnostics Market size is expected to reach USD 29 billion by 2028, according to a latest forecast report by Graphical Research.
In vitro diagnostics (IVD) is an umbrella term for tests used to detect a variety of diseases using human body samples such as blood or tissues. By identifying illnesses early and monitoring a patient's general health, in vitro diagnostics can aid in the diagnosis and prevention of several chronic diseases. The medical tests are also used in precision medicine approach to identify patients who are likely to benefit from certain treatments or therapies.
Next generation sequencing tests, which scan a person's DNA to discover genetic changes, are also included in in vitro diagnostics. Recent technologies that automate IVD systems for healthcare have enabled more accurate, efficient, and error-free patient health diagnoses. The rising frequency of chronic and infectious disorders has prompted major companies to introduce advanced rapid diagnostic and testing solutions. Thermo Fisher Scientific's innovative Phadia 200 technology, for example, is transforming the detection of allergy and autoimmune diseases.
The reagents & kits segment was valued at USD 14 billion revenue in 2021, due to increased demand for infectious disease testing during the COVID-19 pandemic. Growing R&D initiatives to introduce diagnostic tests for chronic illnesses, as well as rising demand for cost-effective laboratory diagnostic kits in resource-limited nations, would favorably influence IVD kits development.
The hematology segment will expand at a CAGR of 3% through 2028, attributed to the increasing prevalence of blood disorders in Europe has spurred the popularity of automated hematology analyzers. Over 80 million people in the EU suffer from blood-related disorders. Inherited blood diseases, such as sickle cell disease and thalassemia also affect millions of individuals and cause substantial mortality in the region.
Increasing adoption of POC hematology tests for various blood related disorders, along with new product launch by companies is expected to augment the market revenue. Illustrating an example, industry leader Sysmex launched its XR-Series Automated Hematology Analyzer in March 2021, pegged to be the company’s next generation flagship model in the hematology segment. This automated analyzer offers improved efficiency by using digital waveform processing to increase the differential WBC count.
Browse detailed statistical insights from the report, “Europe In Vitro Diagnostics Market Forecast 2028 By Application (Oncology, Infectious Diseases, Diabetes, Cardiology, Nephrology, Autoimmune Diseases, Drug Testing/ Pharmacogenomics), By Product Type (Reagents & Kits, Instruments), By Test Type (Clinical Chemistry, Immunoassay/ Immunochemistry, Molecular Diagnostics, Hematology, Urinalysis), By End-Use (Hospitals, Diagnostic Laboratories, Academic & Research Institutes), Research Report, Country Outlook (Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Poland, Denmark, Sweden, Finland, Norway), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The nephrology application segment accounted for USD 1.2 billion revenue in 2021, With rising incidence of chronic kidney disease in the region. As per Kidney Care UK data, an estimated 3 million people suffer from chronic kidney disease (CKD) in the U.K. and an astonishing 20 people suffer kidney failure on a daily basis. Higher awareness about the disease and related treatment options will drive the adoption of suitable diagnostic solutions.
The hospital end-user segment will exceed USD 11 billion by 2028. Factors such as the availability of skilled healthcare professionals in hospital facilities and well-equipped diagnostic labs are contributing to fast-paced the market growth. The turnaround time for any diagnostic test in many hospitals can be shorter as compared to independent diagnostic laboratories. All labs, from microbiology to molecular diagnostics, are accessible under one roof in hospitals, and patients may consult with a doctor quickly in the event of an emergency.
Germany IVD market size held more than USD 4 billion revenue in 2021, credited to the growing presence of key industry players that are constantly focusing on development of new IVD products is fueling the regional market outlook. Due to the recent COVID-19 pandemic, there is an increase in demand for next-generation serology-based rapid-test products, sequencing, polymerase chain reaction in Germany.
The European in vitro diagnostics (IVD) market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2017 to 2028, for the following segments:
Europe Market, By Product Type
- Reagents & Kits
Europe Market, By Test Type
- Clinical Chemistry
- Molecular Diagnostics
Europe Market, By Application
- Infectious diseases
- Autoimmune diseases
- Drug testing/pharmacogenomics
Europe Market, By End-user
- Diagnostic laboratories
- Academic & research institutes
The above information has been provided for the following countries: