The European molecular diagnostics market is dominated by F. Hoffmann-La Roche who held 30.2% of the market in 2014. Abbott Laboratories, QIAGEN N.V., Hologic, Inc., Cepheid, Inc., and Siemens AG are next five most significant companies who together accounted for 36.7% of the Europe market for molecular diagnostics at the same base time. Collaborations, partnerships, and acquisitions carried out by top biotech companies to develop innovative diagnostics test kits are further accelerating the growth of the market in the region.
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The European market for molecular diagnostics is estimated to reach US$4,228.9 mn by 2023, expanding at a healthy CAGR of 11.4% during the forecast period of 2015 to 2023. However, a shortage of reimbursement schemes in Europe is likely to restrain the growth of the market in near future. By technology, polymerase chain reaction segment had the largest demand in 2014, although the report adjudges the next generation sequencing as the fastest growing technology.
Reliable Next Generation Sequencing to Drive Europe Molecular Diagnostics Market
Based on technology, the molecular diagnostics market in Europe is divided into polymerase chain reaction, hybridization which includes ISH and FISH, mass spectrometry, transcription mediated amplification, next generation sequencing, biochips and microfluidics, and others. The polymerase chain reaction segment dominates the European market with 40.1% of the market as of 2014 due to its cost-effectiveness in copying small segments of RNA or DNA. However, the research report predicts a remarkable CAGR of 12.9% for the next generation sequencing segment during the forecast period. Growth of this technology is attributed to reliability, speed, and high throughput analysis.
Based on application, infectious disease testing is the most prominent segment of the European molecular diagnostics market. This is because of increased testing of human papilloma virus (HPV) which is a major cause of cervical cancer in Europe. However, the oncology application segment is also expected to register significant growth during the forecast period due to an increase in cancer incidence, medical advancements, and rapid and accurate test diagnosis pertaining to molecular test kits.
Geographically, Western Europe accounted for the largest share of 47.1% of the molecular diagnostics market in Europe in 2014. The report ascribes this to the high population density of the region. However, the Eastern Europe market for molecular diagnostics is expected to experience the fastest CAGR during the forecast period. The key factors supporting Eastern Europe’s growth are a number of awareness programs initiated by governments and increased healthcare expenditure.
Rising Geriatric Population Aiding Growth of Molecular Diagnostics Market in Europe
According to WHO estimates, around 3 million new cases of various types of cancer were diagnosed in Europe in 2011, accounting for around 20% of the total deaths in the continent. Early diagnosis and regular monitoring of such patients is essential for the identification and treatment of these diseases. Moreover, other elements that are providing a positive momentum to the market for molecular diagnostics in Europe are: increasing adoption of personalized medicine and growing awareness and acceptance about disease diagnosis.
Conversely, issues with reimbursements policies are seen as a key restraint in the European molecular diagnostics market. The reimbursement rates offered by federal and private sector healthcare insurance are not specific and vary significantly with different reimbursing companies. Policies for coding, billing, and payments for molecular test kits do exist in Europe and are quite similar to those for pharmaceutical drugs and medical devices. However, these policies are not applied similarly and vary with different players in Europe. Payers are ultimately expected to bear the cost of tests/kits and hence they have to be convinced about the value of these products.
The author of this report states, “Comparative genomic hybridization (CGH) or chromosomal microarray analysis (CMA) is a method of detecting copy number variation. This is identified as an emerging technology that is finding usage in detection of both chromosomal disorders and solid tumors.”
The information presented in this review is based on a Transparency Market Research report, titled, “Molecular Diagnostics Market (By Technology: Polymerase Chain Reaction, Hybridization (ISH and FISH), Mass Spectrometry, Transcription Mediated Amplification (TMA), Next Generation Sequencing, Biochips and Microfluidics, and Others (Nanotechnology and Proteomic); By Application: Oncology, Infectious Disease Testing, Genomics, Blood Screening, Women’s Health, Microbiology, and Prenatal and Newborn Screening) – Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.”
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