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Technavio’s market research analyst predicts the IVD market in Europe to grow at a CAGR of around 5% during the forecast period. The market is growing due to patient-driven demands such as managing obesity-related illnesses such as cardiovascular diseases, diabetes, and fertility issues. It is estimated that in the UK around 27% of the adults are obese. This has increased the demand of blood-glucose monitors, digital ovulation tests for fertility, and biomarkers test to diagnose cardiovascular diseases.
Increased healthcare spending in European countries will boost the growth of this market until 2020. The healthcare expenditure in the European Union (EU15) has been rising steadily in countries such as Norway, where healthcare expenditure, per capita, has been increasing by 1.4% per year. Also, increased medical knowledge has provided access to new technologies, which, in turn, has increased life expectancy.
The IVD sales in Germany accounted for approximately 26% of the IVD market in Europe, and it is also the biggest contributor to this market. The market grew after the amendment in German reimbursement legislation for the prevention of healthcare-associated diseases and increased with better reimbursement conditions for outpatient clinic physicians.
The IVD market in Europe is highly fragmented with intense competition among large and small vendors. These vendors form partnerships and develop products to maintain their market share. Market players are focusing on product development and marketing strategies to improve their position in the market. Advances in technology in IVD devices is expected to increase competition among the vendors during the forecast period.
The leading vendors in the market are -
Other prominent vendors in the market include Abaxis, A. Menarini Diagnostics, Acon Laboratories, BD, Bio-Rad Laboratories, Cepheid, Chembio Diagnostic Systems, Clarity Diagnostics, DiagCor, Helena Laboratories, Hologic, Life Technologies, Landwind Medical, Mindray, i-Sens, Nipro Diagnostics, Randox Laboratories, Span Diagnostics, Snibe Diagnostics, Sysmex, Trivitron Healthcare, and URIT.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Appendix
PART 15: Explore Technavio
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