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Europe Immunoassay Market Research Report – Segmented By Technology, Application, End Users, Country (UK, France, Spain, Germany, Italy, Russia, Sweden, Denmark, Switzerland, Netherlands, Turkey, Czech Republic and Rest of Europe) - Industry Analysis, Size, Share, Growth, Trends and Forecast (2022 to 2027)

Published: January, 2022
ID: 1491
Pages: 132
Formats: report pdf report excel report power bi report ppt

Europe Immunoassay Market Size (2022 to 2027)

The size of the European Immunoassay Market was valued at USD 5.66 Billion in 2022. It is estimated to reach USD 9.03 Billion by the end of 2027, growing at a CAGR of 9.82% between 2022 to 2027. The market in Europe is expected to show reasonable growth due to the growing applications of immunoassays in diagnosing drug testing for various diseases.

Immunoassays are crucial in the diagnosis and treatment planning of diseases. As a result, the market has grown due to an increase in the prevalence of chronic diseases such as cancer, cardiovascular disease, and diabetes mellitus, as well as the development of a technologically improved automated immunoassay for their diagnosis. Also, the immunoassay market is growing due to the rising demand for point-of-care testing equipment and an increasing acceptance rate of these devices. In addition, infections and chronic diseases are increasing in frequency, supporting the European immunoassays market's growth.

The immunoassay market is expected to rise because of increased public awareness of point-of-care devices and government incentives to create testing equipment. While considering the emergence of the new coronavirus (COVID-19), there has been a critical demand for diagnostic solutions, particularly immunoassay, which is regarded as fundamental in pandemic management.

The European immunoassays market is expected to be driven by the improved regulatory processes for innovative devices to develop treatments. Furthermore, during the forecast period, the growing demand for safer medications and specialty therapies is expected to provide profitable possibilities for market players in the area. The EU regulatory authorities have drafted severe requirements for the licensing and commercialization of immunoassay consumables and instruments. Furthermore, technological challenges provided by immunoassay kits and reagents, such as cross-reactivity of antibodies, poor detection limits of accessible antibodies, false negatives, and others, stifle the immunoassay market's growth. Also, constantly changing reimbursement rules, very technical assay techniques, and the high cost of immunoassay kits are all factors limiting the growth of the European immunoassays market.

This research report on the European immunoassay market has been segmented & sub-segmented the market into the following categories:

By Technology:

  • Enzyme Immunoassays
  • Fluorescent Immunoassays
  • Chemiluminescence Immunoassays
  • Nephelometric Immunoassays
  • Radio Immunoassays
  • Counting Immunoassays
  • Turbidimetric Immunoassays

By Application:

  • Oncology
  • Cancer
  • Hematology
  • Cardiology
  • Thyroid
  • Infectious diseases
  • Allergies

By End User:

  • Hospitals
  • Clinics
  • Academic Research Institute
  • Pharmaceutical
  • Biotech vendors
  • Laboratories

By Country:

  • UK
  • France
  • Spain
  • Germany
  • Italy
  • Russia
  • Sweden
  • Denmark
  • Switzerland
  • Netherlands
  • Turkey
  • Czech Republic
  • Rest of Europe

Geographically, the European market is expected to account for the second-largest share of the global immunoassays market during the forecast period. The market growth is driven owing to the expanding applications of immune tests in diagnosing medication testing for various diseases. However, the introduction of technologically superior analyzers into the European market has boosted the market growth in the region tremendously. Furthermore, due to the exceptional COVID-19 outbreak, which has resulted in a shortage of diagnostics and infrastructure, the market is expected to rise significantly. This has generated a plethora of options for market players to close the gap between supply and demand. In addition, several research centers relevant to diagnostics, such as central laboratory testing and point of care tests, have resulted from considerable investment in the healthcare sector, both from the public and private sectors in this region.

The German immunoassays market dominated the European market with significant revenue in 2020 and is likely to hold this position throughout the forecast per od. Because of Germany's supporting healthcare legislation, the market is expected to rise significantly ly. Furthermore, the presence of a sizable senior population in this country is a significant market driver.

On the other hand, the UK immunoassay market is estimated to register healthy CAGR during the forecast period due to the presence of modern healthcare infrastructure, high disposable income, increasing healthcare expenditure, and increased awareness about early disease diagnosis, the market in the United Kingdom is predicted to develop rapidly throughout the forecast per od. Furthermore, the market for immunoassay analyzers is expanding owing to the high demand for diagnostics, which can be linked to the rising frequency of chronic diseases.

KEY MARKET PLAYERS:

A few of the notable companies operating in the European immunoassay market analyzed in this report are Roche Diagnostics, DiaSorin S.p. A, Beckman Coulter, Siemens Healthcare, Ortho Clinical Diagnostics, bioMerieux, Thermo Fisher Scientific and Abbott Laboratories, Akers Biosciences, Inc, Becton Dickinson and Company, Devon Medical Products, EDP Biotech Corporation, Hologic (Gen-Probe), Intrinsic LifeSciences.

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