Europe Molecular Diagnostics Market Size (2024 - 2029)

Europe Molecular Diagnostics Market Analysis

The Europe Molecular Diagnostics Market size is estimated at USD 3.45 billion in 2024, and is expected to reach USD 5.32 billion by 2029, growing at a CAGR of 8.96% during the forecast period (2024-2029).

The COVID-19 outbreak positively impacted the European molecular diagnostics market, as it involved testing various biological samples. This aided the diagnosis of infectious diseases, such as COVID-19, as testing remained crucial in controlling the pandemic. Molecule diagnostics technology, such as next-generation sequencing, PCR, microarrays, etc., was increasingly adopted in the region to test severe or acute respiratory syndrome, i.e., coronavirus 2 (SARS-CoV-2). For instance, in June 2021, Fujirebio Europe commercially launched its iAMP COVID-19 molecular assay in collaboration with Atila Biosystems Inc. The iAMP COVID-19 test was intended to qualitatively detect nucleic acid from the SARS-CoV-2 in nylon nasopharyngeal/ oropharyngeal swabs. iAMP COVID-19 was an isothermal assay based on new proprietary technologies. The increased interest in adopting COVID-19 testing significantly added to the growth of the European molecular diagnostics market during the COVID-19 pandemic.

Factors such as the increasing burden of various bacterial and viral epidemics in this region, coupled with increasing demand for point-of-care diagnostics and recent advancements in pharmacogenomics, are expected to propel market growth over the forecast period. According to the article HIV/AIDS Surveillance in Europe, published in November 2021, HIV infection continued to affect the well-being and health of millions of people in the WHO European Region in 2020. Over the last three decades, approximately 2.2 million people have been diagnosed with HIV in the WHO European Region, impacting the studied market. Whereas in 2020, 104,765 people were newly diagnosed with HIV. Moreover, according to the facts and figures published by British Heart Foundation, updated in October 2021, around 7.6 million people were living with a heart or circulatory disease in the United Kingdom. Thus, the heavy burden of chronic disease is anticipated to increase the adoption of molecular diagnostics in the region.

The market players in the region are focused on product and technological development, boosting market growth. For instance, in March 2021, Datar Cancer Genetics, a global leader in non-invasive cancer diagnostics, received Conformité Européenne (CE) Mark for its innovative TruBlood solution, a new paradigm in cancer detection, diagnosis, and management. Such developments are expected to drive the market.

Therefore, due to the abovementioned factors, the market is anticipated to achieve high growth rates over the forecast period. However, the need for high-complexity testing centers is expected to hinder market growth over the forecast period.

Europe Molecular Diagnostics Industry Segmentation

Molecular diagnostic tests detect specific sequences in DNA or RNA (including single nucleotide polymorphisms (SNP), deletions, rearrangements, and insertions), which may or may not be associated with diseases. 

The European Molecular Diagnostics Market is Segmented by Technology (In Situ Hybridization, Chips and Microarrays, Mass Spectrometry (MS), Sequencing, PCR, and Other Technologies), Application (Infectious Diseases, Oncology, Pharmacogenomics, Microbiology, Genetic Disease Testing, and Other Applications), Product (Instruments, Reagents, and Other Products), End User (Hospitals, Laboratories, and Other End Users), and Geography (Germany, United Kingdom, France, Italy, Spain, and Rest of Europe). The market report also covers the estimated market sizes and trends in Europe. The report offers the value (in USD million) for the above segments.