Europe Laboratory Developed Tests Market Envisioned to Surpass USD 7.59 Billion by 2032, Showing a 7.7% Compound Annual Growth

𝐄𝐮𝐫𝐨𝐩𝐞 𝐋𝐚𝐛𝐨𝐫𝐚𝐭𝐨𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐞𝐝 𝐓𝐞𝐬𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐬𝐢𝐳𝐞 𝐚𝐧𝐝 𝐬𝐡𝐚𝐫𝐞 𝐢𝐬 𝐜𝐮𝐫𝐫𝐞𝐧𝐭𝐥𝐲 𝐯𝐚𝐥𝐮𝐞𝐝 𝐚𝐭 𝐔𝐒𝐃 𝟑.𝟗𝟎 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐢𝐧 𝟐𝟎𝟐𝟑 𝐚𝐧𝐝 𝐢𝐬 𝐚𝐧𝐭𝐢𝐜𝐢𝐩𝐚𝐭𝐞𝐝 𝐭𝐨 𝐠𝐞𝐧𝐞𝐫𝐚𝐭𝐞 𝐚𝐧 𝐞𝐬𝐭𝐢𝐦𝐚𝐭𝐞𝐝 𝐫𝐞𝐯𝐞𝐧𝐮𝐞 𝐨𝐟 𝐔𝐒𝐃 𝟕.𝟓𝟗 𝐛𝐢𝐥𝐥𝐢𝐨𝐧 𝐛𝐲 𝟐𝟎𝟑𝟐, 𝐚𝐜𝐜𝐨𝐫𝐝𝐢𝐧𝐠 𝐭𝐨 𝐭𝐡𝐞 𝐥𝐚𝐭𝐞𝐬𝐭 𝐬𝐭𝐮𝐝𝐲 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡. 𝐁𝐞𝐬𝐢𝐝𝐞𝐬, 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭 𝐧𝐨𝐭𝐞𝐬 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐞𝐱𝐡𝐢𝐛𝐢𝐭𝐬 𝐚 𝐫𝐨𝐛𝐮𝐬𝐭𝟕.𝟕% 𝐂𝐨𝐦𝐩𝐨𝐮𝐧𝐝 𝐀𝐧𝐧𝐮𝐚𝐥 𝐆𝐫𝐨𝐰𝐭𝐡 𝐑𝐚𝐭𝐞 (𝐂𝐀𝐆𝐑) 𝐨𝐯𝐞𝐫 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭𝐞𝐝 𝐭𝐢𝐦𝐞𝐟𝐫𝐚𝐦𝐞, 𝟐𝟎𝟐𝟒 - 𝟐𝟎𝟑𝟐

Laboratory-developed tests amount to a special grouping of IVD devices. They are purely outlined and mass-produced within a single laboratory planned not for issuance but as a tailored elucidation dependent on a commercially obtainable commodity. Lately, there have been notable administrative moves in the medical device sector. In the European Union, the Medical Device Regulation and In Vitro Diagnostic Regulation have been applied.

𝐂𝐥𝐢𝐜𝐤 𝐭𝐨 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐧𝐝 𝐃𝐫𝐢𝐯𝐞 𝐈𝐦𝐩𝐚𝐜𝐭𝐟𝐮𝐥 𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧𝐬:
https://www.polarismarketresearch.com/industry-analysis/europe-laboratory-developed-tests-market/request-for-sample

𝐇𝐞𝐫𝐞 𝐈𝐬 𝐓𝐡𝐞 𝐋𝐢𝐬𝐭 𝐎𝐟 𝐒𝐨𝐦𝐞 𝐎𝐟 𝐓𝐡𝐞 𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐈𝐧 𝐓𝐡𝐞 𝐄𝐮𝐫𝐨𝐩𝐞 𝐋𝐚𝐛𝐨𝐫𝐚𝐭𝐨𝐫𝐲 𝐃𝐞𝐯𝐞𝐥𝐨𝐩𝐞𝐝 𝐓𝐞𝐬𝐭𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐂𝐨𝐯𝐞𝐫𝐞𝐝 𝐁𝐲 𝐓𝐡𝐞 𝐑𝐞𝐩𝐨𝐫𝐭:

• Abbott
• Biomerieux (France)
• Cerba Healthcare (France)
• Eurofins Scientific (France)
• Hologic (UK)
• Qiagen (Germany)
• Roche Diagnostics (Switzerland)
• Siemens Healthcare (Germany)
• SYNLAB Group (Germany)
• TDL Pathology (UK)

One critical growth driver of the Europe laboratory developed tests market is the escalation in the demand for customized medicine, which is causing a pronounced requirement for inventive diagnostic instruments involving laboratory-developed tests. Also, the growing incidence of many kinds of detrimental illnesses, including diabetes, cancer, heart disease, and cardiovascular illnesses, needs methodical diagnostic testing, pushing the market.

𝐆𝐞𝐭 𝐀𝐡𝐞𝐚𝐝 𝐰𝐢𝐭𝐡 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐌𝐚𝐫𝐤𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬: https://www.polarismarketresearch.com/buy/3777/2

𝐅𝐮𝐧𝐝𝐚𝐦𝐞𝐧𝐭𝐚𝐥 𝐒𝐭𝐚𝐭𝐬

• The market was valued at USD 3.90 billion in 2023 and is expected to grow to USD 7.59 billion by 2032.
• The European laboratory-developed tests market is anticipated to grow at a CAGR of 7.7% from 2024 to 2032.
• In 2023, France conquered the market. The UK is also expected to witness a major growth rate.

𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

By technology, the molecular diagnostics segment witnessed a sharp surge owing to the extensive acquisition of molecular diagnosis for the discernment of several bequeathed and genetic illnesses and many viral and bacterial illnesses. Additionally, by application, the oncology segment dominated the market due to the escalating appeal of laboratory-developed tests in oncology and the progression in precision medicine that causes customized treatment depending on discrete patient attributes.

𝐆𝐫𝐨𝐰𝐭𝐡 𝐃𝐫𝐢𝐯𝐞𝐫𝐬

𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬 𝐢𝐧 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲: Technological advancements, particularly in genomics, molecular diagnostics, and automation, have revolutionized the development and performance of LDTs, enabling laboratories to offer highly accurate and comprehensive testing services.

𝐆𝐫𝐨𝐰𝐢𝐧𝐠 𝐃𝐞𝐦𝐚𝐧𝐝 𝐟𝐨𝐫 𝐏𝐞𝐫𝐬𝐨𝐧𝐚𝐥𝐢𝐳𝐞𝐝 𝐌𝐞𝐝𝐢𝐜𝐢𝐧𝐞: The shift towards personalized medicine, driven by the increasing understanding of genetic variability and disease heterogeneity, has fueled the demand for LDTs that can provide tailored diagnostic and treatment insights for individual patients.

𝐑𝐢𝐬𝐢𝐧𝐠 𝐈𝐧𝐜𝐢𝐝𝐞𝐧𝐜𝐞 𝐨𝐟 𝐂𝐡𝐫𝐨𝐧𝐢𝐜 𝐃𝐢𝐬𝐞𝐚𝐬𝐞𝐬: The increasing prevalence of chronic diseases, such as cancer, cardiovascular diseases, and neurological disorders, has created a need for specialized diagnostic tests to aid in early detection, prognosis, and treatment decision-making.

𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐋𝐚𝐧𝐝𝐬𝐜𝐚𝐩𝐞: Regulatory developments, including the implementation of the In Vitro Diagnostic Regulation (IVDR) in the European Union, are shaping the regulatory framework for LDTs, with a focus on ensuring quality, safety, and reliability of testing services.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐌𝐨𝐫𝐞 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.polarismarketresearch.com/industry-analysis/europe-laboratory-developed-tests-market

𝐄𝐮𝐫𝐨𝐩𝐞 𝐎𝐫𝐚𝐥 𝐂𝐚𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

• Toothpaste segment is anticipated to witness the highest growth in the coming years due to the development of superior toothpaste for certain medical conditions.

• Online retailers segment accounted for the largest market share owing to the increasing usage of e-commerce platforms.

• UK is projected to register the fastest growth during the forecast period, attributable to the rising prevalence of oral health care problems.

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐋𝐚𝐭𝐞𝐬𝐭 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡:
𝐃𝐮𝐫𝐚𝐛𝐥𝐞 𝐌𝐞𝐝𝐢𝐜𝐚𝐥 𝐄𝐪𝐮𝐢𝐩𝐦𝐞𝐧𝐭 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/durable-medical-equipment-market

𝐈𝐦𝐦𝐮𝐧𝐨 𝐎𝐧𝐜𝐨𝐥𝐨𝐠𝐲 (𝐈𝐎) 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/immuno-oncology-io-market

𝐆𝐞𝐧𝐞 𝐓𝐡𝐞𝐫𝐚𝐩𝐲 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/gene-therapy-market

𝐄𝐜𝐥𝐢𝐧𝐢𝐜𝐚𝐥 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐌𝐚𝐫𝐤𝐞𝐭: https://www.polarismarketresearch.com/industry-analysis/eclinical-solutions-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

Polaris Market Research
Phone: +1-929-297-9727
Email: sales@polarismarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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This release was published on openPR.