Rise in cases of infectious & autoimmune diseases and availability of advanced healthcare facilities to drive Europe biomarker technologies market
According to TechSci Research report, “Europe Biomarker Technologies Market By Test Type (Solid Biopsy, Liquid Biopsy), By Technology (Immunoassay, DDPCR, Next Generation Sequencing (NGS), Mass Spectrometry, DHPLC, Others), By Product (Consumables, Instruments, Services, Software/Informatics), By Indication (Oncology, Infectious Diseases, Autoimmune Disorders, Cardiovascular Disorders, Others), By End User (Pharmaceutical Companies, Hospitals, CROs, Diagnostic Labs, Research Institutes), By Application (Clinical Diagnostics, Research, Drug Discovery & Development), By Country, Forecast & Opportunities, 2025”, the market is expected to witness robust growth during the forecast period owing to rise in cases of infectious and autoimmune diseases including COVID-19. The increasing uses of biomarker technology in cancer treatment is also acting as major growth driver for the market. In addition to this, extensive R&D activities in healthcare sector coupled with rising adoption of early toxicity testing are anticipated to provide huge growth opportunities for Europe biomarker technologies market through 2025. Also, the various advantages of biomarker technologies are leading to their increased adoption in drug development and genome mapping programs, which is further supporting the market growth.
Additionally, rise in healthcare expenditure and growing requirement for personalized medicines are augmenting the growth of biomarker technologies market in European countries. Furthermore, the market is also expanding owing to growing prevalence of cardiovascular and neurological disorders in various European countries. Various governments are also promoting biomarker technologies by increasing funding for biomarker research. Also, the advancements in medical sector are promoting the growth of biomarker technologies market. However, biomarker discovery requires high initial capital investment which might limit the market growth.
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Europe biomarker technology market is segmented based on test type, technology, product, indication, end user, application and country. Based on product the market can be segmented into consumables, instruments, services and software/informatics. Among them, consumables segment accounted for largest market share in 2019 and is further expected to dominate the market during the forecast period as they are vital part of biomarker testing and are essential for performing various technologies.
Based on technology, Europe biomarker technologies market can be categorized into immunoassay, DDPCR, Next Generation Sequencing (NGS), mass spectrometry, DHPLC and others. Among them, the Next Generation Sequencing (NGS) technology is expected to register fastest CAGR through 2025 due to surge in research related to oncology and increasing uses of NGS technology in examining difference between various cancer forms that otherwise seem identical.
Major players operating in the Europe biomarker technology market include F. Hoffmann-La Roche AG, Merck KGAA, Beckman Coulter, Inc., Qiagen N.V., Biomérieux SA, Bio-Rad Laboratories N.V., Siemens AG, Abbott Laboratories, QIAGEN and Danaher Corporation. The market players are involved in growth strategies such as mergers & acquisitions and product innovation to strengthen their market position.
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“The availability of advanced treatment facilities and good healthcare infrastructure is making Europe a lucrative market for biomarker technologies. Moreover, the increasing requirement for efficient and accurate diagnosis is supporting the growth of biomarker technologies market in European countries. With the entry of new players, Europe biomarker technologies market is expected to witness rapid growth in coming years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Europe Biomarker Technologies Market By Test Type (Solid Biopsy, Liquid Biopsy), By Technology (Immunoassay, DDPCR, Next Generation Sequencing (NGS), Mass Spectrometry, DHPLC, Others), By Product (Consumables, Instruments, Services, Software/Informatics), By Indication (Oncology, Infectious Diseases, Autoimmune Disorders, Cardiovascular Disorders, Others), By End User (Pharmaceutical Companies, Hospitals, CROs, Diagnostic Labs, Research Institutes), By Application (Clinical Diagnostics, Research, Drug Discovery & Development), By Country, Forecast & Opportunities, 2025” has evaluated the future growth potential of Europe biomarker technology market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Europe biomarker technologies market.
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