Europe Immunoassay Analyzers Industry Overview
The Europe immunoassay analyzers market size was valued at USD 1.6 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.0% from 2021 to 2028. Immunoassays play a vital role in disease diagnosis and treatment planning. Thus, an increase in the prevalence of chronic conditions, such as cancer, cardiovascular diseases, and diabetes mellitus and the introduction of technologically advanced automated immunoassay analyzers for its diagnosis has fueled the market growth. Since the outbreak of the novel coronavirus (COVID-19), there has been a crucial demand for diagnostic solutions, including immunoassay analyzers, as it is considered a cornerstone in the management of pandemics.
Confirmatory testing allows rapid detection of viruses and helps stop further transmission by isolating patients. European countries including France, Russia, U.K., Italy, Spain, and Germany have reported the highest number of COVID-19 cases. Mass testing has come to the fore as a potential way to confront this pandemic. Thus, in response to this pandemic, several government agencies are focused on mass COVID-19 testing and are undertaking a series of initiatives for expanding analyzers, instruments, and kit volumes to boost the testing rate in their country.
Gather more insights about the market drivers, restraints and growth of the Europe Immunoassay Analyzers market
The introduction of technologically advanced analyzers in the European market has significantly enhanced market growth in the region. For instance, in March 2021, Switzerland-based Roche upgraded its analyzer, Cobas pro-integrated solutions, and launched eight new configurations across nations accepting the CE mark. The upgraded version can deliver up to 4,400 tests an hour, doubling its prior testing competence. Also, For instance, in December 2019, EurofinsAbraxis-a biotechnology company launched an automated ELISA Analyzer, CAAS Cube-a single plate analysis system facilitating enhanced data analysis and customizable settings to accommodate laboratory testing requirements.
Furthermore, the high adoption of technologically advanced products, such as automated analyzers and compact portable analyzers, is expected to be one of the prominent factors contributing to the rapid growth of the market. For instance, in October 2019, LGC, a U.K.-based contract research organization, adopted Quanterix’s HD-X automated analyzer to help drug developers in bioanalytical studies and support its laboratories in Cambridge, U.K.
Moreover, the high prevalence of chronic diseases in the major European countries is further expected to create high demand for effective immunoassay analyzers, thus supporting the market growth. According to International Diabetes Federation, in February 2020, around 15.3% of adults, accounting for 9,510,500 people, in Germany were suffering from diabetes. Also, according to data published by Commonwealth Fund in January 2019, heart disease is one of the leading causes of death in Germany, and around 38% of all deaths in the country occur due to heart disease.
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Immunoassay Market - The global immunoassay market size was valued at USD 28.1 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.2% from 2022 to 2030.
Immunoassay Analyzers Market - The global immunoassay analyzers market was valued at USD 14.7 billion in 2015 and is projected to grow at a CAGR of 5.11% over the forecast period.
Europe Immunoassay Analyzers Industry Segmentation
Grand View Research has segmented the Europe immunoassay analyzers market on the basis of analyzers, end use, and region:
Europe Immunoassay Analyzers Outlook (Revenue, USD Million, 2016 - 2028)
- Enzyme Immunoassay (EIA) Analyzers
- Radioimmunoassay (RIA) Analyzers
- Other Analyzers
Europe Immunoassay Analyzers End-use Outlook (Revenue, USD Million, 2016 - 2028)
- Hospitals
- Blood Banks
- Clinical Laboratories
- Pharmaceutical and Biotech Companies
- Academic Research Centers
- Others
Europe Immunoassay Analyzers Regional Outlook (Revenue, USD Million, 2016 - 2028)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Belgium
- Switzerland
- Netherlands
- Poland
- Austria
- Greece
- Sweden
- Finland
Key Companies profiled:
Some prominent players in the Europe Immunoassay Analyzers Industry include
- Siemens Healthineers
- bioMérieux SA
- Abbott Laboratories
- Danaher Corporation (Beckman Coulter)
- Quidel Corporation
- Ortho Clinical Diagnostics
- Sysmex Corporation
- Bio-Rad Laboratories, Inc.
- Becton, Dickinson and Company
- Hoffmann-La Roche AG
- Thermo Fisher Scientific, Inc.
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