Meticulous Research®—a leading market research company, published a research report titled, ‘Europe Molecular Diagnostics Market by Product (Reagents & Kits, Systems, Software), Test Type (Lab, PoC), Technology (PCR, INAAT, Sequencing, Microarray), Application (Infectious Diseases, Oncology), End User (Hospital, Diagnostic Lab) - Forecast to 2030’

According to this latest publication from Meticulous Research®, the Europe molecular diagnostics market is projected to reach $13.25 billion by 2030, at a CAGR of 4% from 2023 to 2030. The growth of this market is driven by technological advancements in molecular diagnostics, the increasing use of PoC diagnostic tests, an increase in funding for the R&D of diagnostic products, the rising geriatric population, and the increasing prevalence of target diseases. However, unfavorable regulatory framework and cost of molecular diagnostic tests hamper the growth of this market to a notable extent. Additionally, developments in companion diagnostics are expected to offer significant opportunities for the players operating in the molecular diagnostics market. However, the lack of skilled professionals is a challenging factor for the market.

Key Players
The key players operating in the Europe molecular diagnostics market are F. Hoffmann-La Roche Ltd (Switzerland), Hologic, Inc. (U.S.), QIAGEN N.V. (Netherlands), Danaher Corporation (U.S.), bioMérieux S.A. (France), Becton, Dickinson and Company (BD) (U.S.), Siemens Healthineers AG (Germany), DiaSorin S.p.A. (Italy), Abbott Laboratories (U.S.), Thermo Fisher Scientific Inc. (U.S.), Agilent Technologies, Inc. (U.S.), and Illumina, Inc. (U.S.).

The Europe molecular diagnostics market is segmented by Product & Service (Kits & Reagents, Instruments, Software & Services); Test Type [Laboratory Tests, Point-of-Care (PoC) Tests]; Technology [Polymerase Chain Reaction (PCR), In Situ Hybridization (ISH), Isothermal Nucleic Acid Amplification Technology (INAAT), Microarrays, Mass Spectrometry, Sequencing, Other Technologies]; Application [Infectious Diseases (COVID-19, Hepatitis, HIV, Healthcare-associated Infections (HAIs), Chlamydia trachomatis/ Neisseria gonorrhoeae (CT/NG), Human papillomavirus (HPV), Tuberculosis, Influenza, Other Infectious Diseases), Oncology (Breast Cancer, Colorectal Cancer, Lung Cancer, Prostate Cancer, Lymphoma, Leukemia, Cervical Cancer, Other Cancer Types), Genetic Testing, Neurological Diseases, Cardiovascular Diseases, Other Applications]; End User (Hospitals & Clinics, Diagnostic Laboratories, Academic & Research Institutes, Other End Users); and Geography. The study also evaluates industry competitors and analyzes the country-level markets.
Among the products & services included in the report, in 2023, the kits & reagents segment is expected to account for the largest share of the Europe molecular diagnostics market. Recurrent use of assays & kits in the detection of various diseases through molecular diagnostics, rise in product approvals, and technological advancements in molecular techniques contribute to the large market share of this segment.

Among the test types included in the report, in 2023, the laboratory tests segment is expected to account for the largest share of the Europe molecular diagnostics market. Laboratory tests are traditionally used in hospitals and diagnostic centers and are widely accepted. The laboratory testing approach for molecular diagnostics has many advantages over other approaches. It has higher accuracy and reliability when compared to point-of-care testing. The laboratory equipment and analyzers have high sensitivity and specificity. Additionally, unlike point-of-care testing, the lab testing approach can be performed on all tests. Furthermore, the tests conducted in the lab testing approach are usually less expensive than their counterpart point-of-care tests. These factors contribute to the large market share of this segment.

Among the technologies included in the report, in 2023, the polymerase chain reaction (PCR) segment is expected to account for the largest share of the Europe molecular diagnostics market. The specificity and sensitivity of the instrument and the technological developments in various diagnostic applications contribute to this segment's large market share. Also, there were new product launches during the COVID-19 pandemic due to increased demand for PCR kits. For instance, in August 2022, F. Hoffmann-La Roche Ltd (Switzerland) launched the Digital LightCycler System, a digital PCR system. It accurately quantifies trace amounts of specific DNA and RNA targets not typically detected by conventional PCR.

Among the applications included in the report, in 2023, the infectious diseases segment is expected to account for the largest share of the Europe molecular diagnostics market. Infectious diseases are illnesses that can be transmitted from person to person, rapidly spreading in certain regions and giving rise to epidemics. Early diagnosing of these initial infections and preventing their further transmission through in vitro testing is important. The growing incidence of infectious diseases, increased investments in research related to infectious disease diagnostics, and the sudden emergence of a pandemic are the factors attributing to the large market share of this segment.

Among the end users included in the report, in 2023, the hospitals & clinics segment is expected to account for the largest share of the Europe molecular diagnostics market. Increased hospitalizations due to various diseases, the high prevalence of healthcare-associated infections (HAIs), and the proliferation of hospitals and clinics in countries leading to growth in the utilization of molecular diagnostic products. Furthermore, the outbreak of the COVID-19 pandemic has resulted in an increased demand for molecular diagnostic kits in hospitals & clinics for the treatment and prevention of COVID-19 infections.

Geographic Review
This research report analyzes major geographies in Europe, namely Germany, France, the U.K., Switzerland, Ireland, Belgium, Italy, Spain, and the Rest of Europe. In 2023, Germany is expected to account for the largest share of the Europe molecular diagnostics market. Some of the major factors contributing to the largest share include the rising incidence of chronic diseases, the aging population, efforts by the German Government to further improve the quality of healthcare, research for the development of new technologies, and a high number of patients suffering from hospital-acquired infections.

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Key questions answered in the report:
• Which are the high-growth market segments in terms of product & service, test type, technology, application, end user, and geography?
• What was the historical market for molecular diagnostics across Europe?
• What are the market forecasts and estimates for the period 2023–2030?
• What are the major drivers, restraints, challenges, and opportunities in the Europe molecular diagnostics market?
• Who are the major players in the Europe molecular diagnostics market?
• What is the competitive landscape like, and who are the market leaders in the Europe molecular diagnostics market?

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