The "Europe In-Vitro Diagnostics (IVD) Market - Focused Insights 2024-2029" report has been added to ResearchAndMarkets.com's offering.
Europe's in-vitro diagnostics (IVDs) market is expected to grow at a CAGR of 2.23% from 2023 to 2029.
The Europe in-vitro diagnostics (IVDs) market report contains exclusive data on 89 vendors. The competition among market players in the IVD market is significantly high for products, solutions, reagents, consumables, and services in terms of pricing, product, and associated brand image, services, and associated quality, a new product launched and developed, customer services, and financing terms. The leading market players in the Europe IVD market are Abbott Laboratories, bioMerieux, Danaher, Hoffmann-La Roche, Bio-Rad Laboratories, Siemens Healthineers, Thermo Fisher Scientific, and Diasorin, which are competing with rapidly emerging market players. Vendors in the market are increasing their market share through inorganic growth.
Spain shows the highest growth rate, with a CAGR of 3% in Europe's in-vitro diagnostics (IVDs) market. The demand for IVD solutions has increased in the country due to the rising prevalence of chronic diseases associated with the aging population. In addition, awareness of early detection and diagnosis of various diseases, point-of-care IVD solutions, and advancing technologies in healthcare settings are significant factors contributing to market growth.
Personalised medicine is becoming increasingly important as scientists learn more about genetic makeup. The undeniable potential of digitization in healthcare is driven by this industry's capacity to recognize the worldwide demand for more advanced and personalized care. The new European Partnership for Personalised Medicine (EP PerMed) was officially launched in 2023. This will promote all areas and disciplines of precision medicine, facilitate innovation and transfer, and encourage its consolidation in health systems, allowing continuous improvement.
Integrating automation into the IVD manufacturing process benefits IVD device designers and manufacturers. Automation allows for the inclusion of software-based calculation, calibration, and documentation, improving test efficiency, calibration schedules, regulatory compliance, and instrument/equipment traceability. These benefits lead to less labor, reduced errors (standardization) risk, and fewer calibration tests. Furthermore, automated volumetric measurements simplify production fabrication processes by giving manufacturers better control over manufacturing equipment and steps on the production line.
EUROPE IN-VITRO DIAGNOSTICS (IVDs) MARKET INSIGHTS
Key Attributes:
Report Attribute | Details |
No. of Pages | 125 |
Forecast Period | 2023 - 2029 |
Estimated Market Value (USD) in 2023 | $27.75 Billion |
Forecasted Market Value (USD) by 2029 | $31.68 Billion |
Compound Annual Growth Rate | 2.2% |
VENDORS LIST
Key Vendors
Other Prominent Vendors
SEGMENTATION & FORECAST
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Application
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For more information about this report visit https://www.researchandmarkets.com/r/8s03so
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