Europe Molecular Diagnostics Market: Snapshot
The demand for molecular diagnostic systems has been increasing owing to the increasing automation in the research process. These systems aid in automating the process of DNA extraction, amplification and recording the analysis data. In addition, these systems offer a range of advantages such as increased efficiency, correctness of the data, and decrease in the time required, which contribute to garner market growth. Against this background, the Europe molecular diagnostics market is expected to be worth US$769.0 mn by the end of 2025 from US$395.7 mn in 2016. During the forecast period of 2017 and 2025, the regional market is expected to register a CAGR of 6.6%.
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On the basis product, the market has been segmented into real-time PCR systems, liquid handling systems, and DNA extraction systems. The market for real-time PCR systems is anticipated to remain strong in the forecast period, both in terms of value and volume. These systems are anticipated to record the strong growth owing to the range of advantages offered by these systems in comparison to the conventional PCR systems. Some of the benefits are analysis of amplified DNA in the exponential stage which provides a better study, decreases the fear of sample contamination as the process of amplification to analysis is done in the same tube along with increase in throughput among others. Furthermore, the market has witnessed an increase in the installed base of these systems, which can be attributed to their declining prices. This segment is anticipated to be trailed by liquid handling systems, whose growth can be attributed to the increasing demand for laboratory automation for effective and correctness in the liquid dispensing process.
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Pharmaceutical and Biotechnology Companies to be Key Users of Molecular Diagnostics
In terms of end user, the Europe molecular diagnostics market has been segmented into hospitals, diagnostic laboratories, academic and research institutes, and pharmaceutical and biotechnology companies. Pharmaceutical and biotechnology companies are anticipated to be the fastest growing segment, owing to their increasing investments on research that contributes to the growth in adoption of molecular diagnostic devices. This segment is closely trailed by academic and research institutes. The growth in this segment can be attributed to the increasing public and private funding for research. For instance, Europa Organization, the European funding organization, supports innovative companies in the development of new products and conducts annual PCR conferences to identify potential innovators of PCR technology.
Germany to Retain Dominance in Europe Molecular Diagnostics Market
Geographically, Europe region is segmented into five main countries, including the U.K., France, Germany, Italy and Spain; and Rest of Europe. Germany was the leading country in terms of revenues in 2016. It is anticipated to maintain its dominance and grow a significantly high CAGR during the forecast period. The strong growth of molecular diagnostics in Germany can be attributed to the government focus on healthcare investments, increased focus on enhancing the biotechnology sector, and the increasing number of biotechnology companies in the country.
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