Europe In Vitro Diagnostics Market (By Product: Instruments, Reagents; By Technology: Coagulation, Molecular Diagnostics; By Application; By End-use) - Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

Europe In Vitro Diagnostics Market Size and Growth 2023 to 2033

The Europe in vitro diagnostics market size was estimated at USD 26.78 billion in 2023 and it is expected to surpass around USD 28.77 billion by 2033, poised to grow at a CAGR of 0.72% from 2024 to 2033. The in vitro diagnostics (IVD) market in Europe stands as a crucial pillar within the broader healthcare landscape, facilitating accurate and timely disease diagnosis, prognosis, and therapeutic monitoring. This sector is characterized by dynamic advancements in technology, a rising prevalence of chronic diseases, and a concerted effort to enhance healthcare infrastructure.

Key Pointers

• By Product, the reagents segment held the largest revenue share of 66% in 2023.
• By Technology, the immunoassay segment contributed the largest market share of 36% in 2023.
• By Technology, the microbiology and clinical chemistry segments is expected to expand at the highest CAGR of 4.45% from 2024 to 2033.
• By End Use, the home care segment is expected to grow at the fastest CAGR during forecast period.

What are the Growth Factors of Europe In Vitro Diagnostics Market?

The growth of the Europe in vitro diagnostics (IVD) market is propelled by an advancements in diagnostic technologies, such as molecular diagnostics and immunoassays, contribute to heightened accuracy and efficiency in disease detection. Secondly, the increasing prevalence of chronic diseases, including cardiovascular disorders and diabetes, accentuates the demand for reliable diagnostic solutions, fostering market expansion. Additionally, the aging demographic in Europe further amplifies the need for precise diagnostic tools to address a higher incidence of age-related diseases. Supportive government policies and initiatives aimed at enhancing healthcare infrastructure and research and development also play a pivotal role in driving market growth. Overall, the convergence of technological innovation, rising disease prevalence, demographic shifts, and governmental support collectively underpin the robust growth of the in vitro diagnostics market in Europe.

Report Scope of the Europe In Vitro Diagnostics Market

What are the Trends in Europe In Vitro Diagnostics Market?

• Increased Demand for Personalized Medicine: Growing emphasis on personalized and precision medicine is boosting the demand for advanced IVD solutions that cater to individual patient profiles.
• Rise in Chronic Diseases and Infectious Diseases: The increasing prevalence of chronic and infectious diseases, such as cancer, diabetes, and COVID-19, is fueling the demand for diagnostic testing.
• Growth in Home Diagnostics: There's a rising trend towards home-based diagnostic tests due to their convenience and efficiency, especially for chronic disease management and preventive care.

What are the Key Challenges Faced by Europe In Vitro Diagnostics Market?

• Regulatory Compliance: Navigating complex and evolving regulatory requirements across different European countries can be challenging and costly for IVD manufacturers.
• Market Saturation: The market is becoming increasingly saturated with a wide range of diagnostic products, making it difficult for new entrants to gain a foothold and for existing companies to maintain competitive advantages.
• Reimbursement Issues: Variability in reimbursement policies and health insurance coverage across European countries can affect the affordability and accessibility of IVD products.
• Technological Complexity: The rapid pace of technological advancement requires continuous innovation and adaptation, which can be challenging for companies to keep up with while managing costs.

Product Insights

On the basis of product, the market is segmented into instruments, reagents, and software. The reagents segment dominated the market with a revenue share of around 66% in 2023, owing to a spike in the utilization of POC tests, self-testing kits, and various other cutting-edge items in in-vitro diagnosis. The rising volume of research and development efforts for detecting acute diseases is one of the primary reasons fueling the need for reagents and consumables. Furthermore, the growing priority placed on timely diagnosis in established and developing nations is increasing the proportion of patients getting routine tests, adding to the high growth of the category.

The instruments segment held the second largest share in 2023. The advancement in instruments provided a great avenue for the segment's growth. For instance, in September 2022, Sysmex Corporation launched the UD-1500 Completely Automated Urine Particle Analyzer for urine sediment evaluation. The product inherits the excellent capability and ease of use of the UF-5000, an entirely automated urine particle analyzer. The most popular IVD tools include cell imaging and analysis systems, slide processing systems, urine test strips, pregnancy tests, blood sugar monitoring systems, coagulation test systems, and PCR testing platforms.

Technology Insights

On the basis of technology, the market is segmented into immunoassay, hematology, clinical chemistry, molecular diagnostics, coagulation, microbiology, and others. The immunoassay segment held the largest revenue share of over 36% in 2023, as immunoassays are being utilized significantly in alcohol and drug testing as well as cancer. Immunoassays are being furnished with modern technology to aid medical practitioners in generating timely diagnosis, boosting their acceptance.

The microbiology and clinical chemistry segments are estimated to register the fastest CAGR of 4.45% over the forecast period of 2024 to 2033. A proportion of clinical chemistry is accomplished by utilizing high throughput apparatus with cutting-edge automation. However, point-of-care diagnostics continues to grow to address the need for quick diagnosis for chronic and contagious diseases. This factor is a crucial component influencing growth in clinical chemistry. Ongoing advancements in microbiology due to advancements in biotechnological research aimed at investigating the role of microbes in disease pathogenesis are also crucial factors driving the growth.

Application Insights

On the basis of application, the market is segmented into infectious diseases, diabetes, oncology/cancer, cardiology, nephrology, autoimmune diseases, drug testing, and others. The IVD-based infectious disease diagnostics market accounted for the largest market share owing to the rising prevalence of hospital-acquired infections and the high unmet medical needs pertaining to the effective diagnosis of infectious diseases. The substantial share of the market in this category is mainly related to the high frequency of infectious illnesses, the increasing number of elderly people, a growing need for early detection of diseases, and the government's attempt to increase the affordability of services geared towards infectious illness testing. In vitro diagnostics (IVD) is a widely prevalent diagnostic tool that complies with the minimum requirements. IVD kits have become popular and successful in diagnosing infectious illnesses.

The oncology segment is one of the fastest-growing segments due to the introduction of technologically advanced devices and the rising demand for companion diagnostics. The growing need for early disease identification and prevention stimulates development, improving diagnostic capabilities, and personalized medicine strategies, particularly in cancer diagnosis.

End-use Insights

The European in vitro diagnostics market is segmented by end use into hospitals, laboratories, home care, and others. The hospital category dominated the overall segment, considering diagnostics are seamlessly integrated with other disciplines and comprehensive healthcare services are available. They have the facilities, resources, and qualified staff to run a successful IVD operation. Hospitals serve as primary places of care, primary points of referral, and providers of a wide range of medical services. Their range of clinical specialties guarantees precise diagnosis and analysis of IVD test findings. Furthermore, hospitals receive favorable funding and reimbursement policies and must follow strict regulatory guidelines to guarantee patient safety and test accuracy.

The home care segment is expected to grow at the fastest CAGR during forecast period due to the rising demand for rapid diagnostic services for patients at the time of care, the rising government initiatives aimed at lowering hospital stays to curb healthcare expenditure, and the increase in collaboration between the market players. Multiple partnerships between healthcare organizations and various MedTech firms offer a fantastic chance for the efficient implementation of healthcare services at the residence. For instance, Medtronic's Integrated Health Solutions (IHS) presently has 170 in-progress long-term relationships in 24 countries throughout Europe, adding value to healthcare organizations and assisting in the more cost-effective provision of high-quality services at home. As a result, this component spurs market expansion.

Who are the Top Manufactures in Europe In Vitro Diagnostics Market?

• Bio-Rad Laboratories, Inc
• Abbott
• Sysmex Corporation
• BD
• BIOMÉRIEUX
• Danaher
• F. Hoffmann-La Roche Ltd
• Siemens
• QIAGEN
• Thermo Fisher Scientific Inc

Europe In Vitro Diagnostics Market Report Segmentations:

By Product

• Instruments
• Reagents
• Services

By Technology

• Immunology
• Haematology
• Clinical Chemistry
• Molecular Diagnostics
• Coagulation 
• Microbiology
• Others

By Application

• Infectious Diseases
• Diabetes
• Oncology/Cancer
• Cardiology
• Nephrology
• Autoimmune Diseases
• Drug Testing
• Other

By End Use

• Hospitals
• Laboratories
• Home Care
• Others