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In Vitro Diagnostics (IVD) Market in Europe Along With Covid-19 Impact Analysis and Business Opportunities Outlook 2027

08-06-2020 03:07 PM CET | Health & Medicine

Press release from: Allied Market Research

Europe IVD Market

Europe IVD Market

According to a new report titled "European In Vitro Diagnostic Market by Product and Service, Technology, Application and End User: Opportunity Analysis and Industry Forecast, 2019-2026," published by Allied Market Research, the European in vitro diagnostic market is rated as follows: Has been. It is expected to reach $13,825 million in 2019 and $18,647 million by 2027, with an average annual growth rate of 4.8% from 2019 to 2027.

In vitro diagnostics is defined as a medical device used to perform diagnostic tests in a laboratory. These tests are performed on samples taken from the patient's body, such as blood, urine, and tissue. In addition, medical devices used for in vitro diagnostics must also be tested using a variety of techniques. For example, blood drawn from a patient is analyzed for hepatitis infection using an enzyme-linked immunosorbent assay technique to analyze the blood.

In addition, testing procedures require the use of a variety of chemicals and reagents and software to ensure smooth operation. In addition, in vitro diagnosis is used to diagnose a variety of medical conditions, including infectious diseases, diabetes, tumors/cancers, heart disease, autoimmune diseases, kidneys, HIV/AIDS, and more. Additionally, these tests are performed in a variety of medical facilities such as hospitals, standalone laboratories, academic and medical schools.

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Factors such as rising healthcare awareness, a surge in chronic and communicable disease incidences, and cost-effective diagnostic solutions are driving the growth of the European in vitro diagnostics market. Similarly, increased use of automated devices, a surge in government spending on healthcare in Europe, and accurate and fast test results complement market growth. However, strict regulations and policies and unclear reimbursement rules hinder market growth. In addition, the outsourcing possibilities provide favorable opportunities for major players in the European In Vitro Diagnostics market during the forecast period.

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The report segments the market by products and services, technology, applications, end users, and regions. It is categorized on the basis of products and services into chemicals and reagents, instruments, services and software. Based on technology, it is classified into immunodiagnosis, hematology, molecular diagnosis, tissue diagnosis, and clinical chemistry. Additionally, the immunodiagnostic segment is further divided into types such as enzyme-linked immunosorbent assay (ELISA), rapid test, enzyme-linked immune point (ELISPOT), radioimmunoassay (RIA), and western blot. Additionally, the ELSIA segment is further divided into chemiluminescent immunoassay (CLIA), fluorescence immunoassay (FIA) and colorimetric immunoassay (CI). Similarly, molecular diagnostic segments are divided into polymerization chain reaction (PCR), isothermal nucleic acid amplification technology (INAAT), hybridization, DNA diagnostics, microarrays, etc.

By application, the market has been segmented into infectious diseases, cancer, heart diseases, immune system diseases, kidney diseases, gastrointestinal diseases, etc. On the basis of end users, they are classified as standalone laboratories, hospitals, academic and medical schools, point-of-care, and more. By country, the market is analyzed across Germany, France, UK, Italy, Spain and other Europe.

The clinical chemistry division is also further divided into basic metabolic panel, liver panel, lipid profile, thyroid function panel, electrolyte panel, special chemicals, etc.

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Key findings of the study
• The reagents segment accounted for more than half of the European in vitro diagnostics market share in 2019.
• Commodity sector is expected to grow to the highest CAGR from 2020 to 2027.
• The epidemic sector accounted for about a third of the European in vitro diagnostics market in 2019.
• Germany accounted for about a fifth of the European in vitro diagnostics market in 2019.
• The UK is expected to provide profitable growth opportunities from 2019 to 2027.

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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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