Europe Molecular Diagnostics Market Poised to Expand at a Robust Pace by 2025

Innovation in molecular diagnostic techniques has resulted in detection of numerous diseases. It is more effective in case of challenging differential diagnosis. Further, technological advancement in molecular diagnostics are likely to drive the market growth substantially. The growth rate is attributed to portability, accuracy, cost-effectiveness of the diagnostic method.

Nanopore has commercialized use of MinION, which is an affordable and portable sequencer. It is suitable for application in small laboratories and point-of-care medical facilities. Wide adoption rate of MinION is likely to boost growth of molecular diagnostics market.

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As per a report published by the World Health Organization (WHO), the average rate of hospital acquired infections in 2019 varied in between 4.5 and 7.1% in U.S. and Europe, respectively. Molecular diagnosis technique tends to provide quick and effective results. Thus, hospital acquired infections and infectious diseases are anticipated to drive the demand for molecular diagnostics market in coming years.

Further, growing investment by government bodies and other organizations for R&D activities in molecular diagnostics is likely to fuel the market. Funding plays an important role in the product development process. For example, Accelerate Diagnostics received USD 19.5 million from various organizations such as the Schuler Family Foundation, Oracle Partners, and Oracle Institutional Partners. The funds aided to increase development and sales of diagnostics tests and tools.

Regulations for approvals have always posed several restrictions on biotechnology, pharmaceuticals, and medical technology industries. Use of faulty diagnostics could provide incorrect results, which may be proved as fatal in future. To avoid such circumstance, FDA has framed strict approval regulations to ensure compliance of the diagnostic equipment with medical standards. In case of molecular diagnostics, FDA has become conscious, owing to dependency on molecular diagnostics for making critical decisions.

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Europe Molecular Diagnostics Market: Snapshot

The demand for molecular diagnostic systems has been increasing owing to the increasing automation in the research process. These systems aid in automating the process of DNA extraction, amplification and recording the analysis data. In addition, these systems offer a range of advantages such as increased efficiency, correctness of the data, and decrease in the time required, which contribute to garner market growth. Against this background, the Europe molecular diagnostics market is expected to be worth US$769.0 mn by the end of 2025 from US$395.7 mn in 2016. During the forecast period of 2017 and 2025, the regional market is expected to register a CAGR of 6.6%.

On the basis product, the market has been segmented into real-time PCR systems, liquid handling systems, and DNA extraction systems. The market for real-time PCR systems is anticipated to remain strong in the forecast period, both in terms of value and volume. These systems are anticipated to record the strong growth owing to the range of advantages offered by these systems in comparison to the conventional PCR systems. Some of the benefits are analysis of amplified DNA in the exponential stage which provides a better study, decreases the fear of sample contamination as the process of amplification to analysis is done in the same tube along with increase in throughput among others. Furthermore, the market has witnessed an increase in the installed base of these systems, which can be attributed to their declining prices. This segment is anticipated to be trailed by liquid handling systems, whose growth can be attributed to the increasing demand for laboratory automation for effective and correctness in the liquid dispensing process.

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Pharmaceutical and Biotechnology Companies to be Key Users of Molecular Diagnostics

In terms of end user, the Europe molecular diagnostics market has been segmented into hospitals, diagnostic laboratories, academic and research institutes, and pharmaceutical and biotechnology companies. Pharmaceutical and biotechnology companies are anticipated to be the fastest growing segment, owing to their increasing investments on research that contributes to the growth in adoption of molecular diagnostic devices. This segment is closely trailed by academic and research institutes. The growth in this segment can be attributed to the increasing public and private funding for research. For instance, Europa Organization, the European funding organization, supports innovative companies in the development of new products and conducts annual PCR conferences to identify potential innovators of PCR technology.