ALBANY, New York, February 26, 2016 /PRNewswire/ --
According to a new market report published by Transparency Market Research "Molecular Diagnostics Market - Europe Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023" the Europe molecular diagnostics market was valued at US$ 1.6 billion in 2014 and is estimated to reach US$ 4.2 billion by 2023 at a CAGR of 11.4% from 2015 to 2023.
Molecular diagnostics aids in early detection of various chronic infectious diseases, cancer, inherited and non-inherited disorders. Growing prevalence of hospital acquired infections and increasing unhealthy lifestyle of the population in Europe is driving the growth of molecular diagnostics market in the region. In addition, technological advancement in the field of molecular techniques, nanotechnology and proteomics is also propelling the growth of molecular diagnostics market in Europe.
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The Europe molecular diagnostics market is categorized on the basis of technology: polymerase chain reaction, hybridization (ISH AND FISH), mass spectrometry, transcription mediated amplification (TMA), next generation sequencing, biochips and microfluidics, others which includes nanotechnology and proteomics. The polymerase chain reaction segment dominated the Europe molecular diagnostics market in 2014. Factors such as cost-effectiveness, and acceptance of polymerase chain reaction over various other technologies contributed towards the growth of market segment. The next generation sequencing segment is expected to register the fastest growth during the forecast period due to high-throughput functional genomic research. The next generation sequencing technology finds its application in whole-genome sequencing, targeted resequencing, discovery of transcription factor binding sites, and noncoding RNA expression profiling.
Based on application, the Europe molecular diagnostics market has been segmented into seven types: oncology, infectious disease testing, genomics, blood screening, women's health, microbiology, and prenatal and newborn screening. Infectious disease testing held the largest market share in 2014 due to increasing incidence of chronic infectious diseases in Europe. Furthermore, increasing infections due to environmental pollution, and growing unhealthy lifestyles among the global population also contributed towards the growth of the infectious disease testing market.
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The Europe molecular diagnostics market exhibits intense competition among the existing players. The market is fragmented, characterized by the presence of both established as well as emerging companies. Major players operating in the Europe molecular diagnostics market are F. Hoffmann-La Roche Ltd., Abbott Laboratories, QIAGEN N.V., Hologic, Inc., Cepheid, Inc., Siemens AG, Alere. Inc., BioMerieux, Bio-Rad Laboratories, PerkinElmer, Inc., Thermo Fisher Scientific, Inc., and others.
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The Europe molecular diagnostics market is segmented as given below:
Europe Molecular Diagnostics Market, by Technology
- Polymerase Chain Reaction
- Hybridization (ISH and FISH)
- Mass Spectrometry
- Transcription Mediated Amplification (TMA)
- Next Generation Sequencing
- Biochips and Microfluidics
- Others (Nanotechnology and Proteomic)
Europe Molecular Diagnostics Market, by Application
- Infectious Disease Testing
- Blood Screening
- Women's Health
- Prenatal and Newborn Screening
Europe Molecular Diagnostics Drugs Market, by Major Region and Countries
- Northern Europe
- United Kingdom
- Rest of Northern Europe (Denmark, Finland)
- Eastern Europe
- Czech Republic
- Rest of Eastern Europe (Hungary, Romania)
- Western Europe
- Rest of Western Europe (Netherlands, Belgium)
- Southern Europe
- Rest of Southern Europe (Greece, Switzerland)
- Rest of Europe
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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SOURCE Transparency Market Research