Europe COVID-19 Diagnostics Market Report and Forecast 2024-2032

Europe COVID-19 Diagnostics Market Outlook

The Europe COVID-19 diagnostics market is being aided by the growing cases of COVID-19 infections in the UK and France, which have performed around 112 million and 58 million tests, respectively, for COVID-19 as of March 2021.

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Favourable Government Policies to Aid the Market Growth of COVID-19 Diagnostics

The rising cases of COVID-19 have boosted the funding from government and private institutions for R&D in the field. Further, the rising number of emergency use authorizations for diagnostic kits & products, and advances and sponsorship from non-medical device or diagnostic firms have been projected to affect the global COVID-19 diagnostics industry positively. Many of the leading manufacturers of COVID-19 diagnostics are from European countries such as Germany and Italy. The development of various effective tests is expected to help the market growth over the coming years.

COVID-19 Diagnostics: Market Segmentation

COVID-19 diagnostics are standardized equipment used for the detection and diagnosis of Covid-19. These are manufactured by approved pharmaceutical manufacturers under strict government procedures.

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By test type, the market is divided into:

• PCR Test
• Antigen Test
• Antibody Test
• Others

The market is categorised in terms of product into:

• RT-PCR Assay Kits
• Immunoassay Test Strips
• Others

The market is divided on the basis of sample type into:

• Nasopharyngeal Swab
• Oropharyngeal (OP) Swab
• Nasal Swab
• Blood Test
• Others

On the basis of business model, the industry is bifurcated into:

• Point-of-Care (PoC) Testing 
• Non-Point-of-Care (PoC) Testing

In terms of end use, the market is segmented into:

• Hospitals
• Diagnostic Centres and Clinics
• Laboratories
• Others

The EMR report looks into the regional markets of the product like Germany, Italy, the UK, France, and rest of Europe.

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Rise in Government Funding to Boost the Market Growth of COVID-19 Diagnostics in Europe

Increased government spending and a rising range of strategic partnerships drive the industry for COVID-19 diagnostics in Europe. Furthermore, increased federal spending is expected to fuel business demand, consequently aiding the market growth. In the forecast period, molecular (PCR) testing is expected to lead the industry. The PCR technique is actually believed to be the most effective for detecting COVID-19, resulting in a significant rise in the use of PCR research kits. This is well supported by governments across Europe which are also preparing for a mass vaccination campaign. The laboratories section is projected to produce the greatest demand.

However, due to the already in place vaccination drive started in countries such as UK, the market for COVID-19 diagnostics is also expected to witness a steep decline in the forecast period, which shall be the overriding market trend for this industry. The sharp decline is expected to end in a near fade-out of this market by the end of the forecast period due to vaccination of the global population.

Key Industry Players in the Europe COVID-19 Diagnostics Market

The report gives a detailed analysis of the following key players in the Europe COVID-19 diagnostics market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Altona Diagnostics GmbH
• Genomica S.A.U
• Clonit srl
• BioMaxima SA
• Primerdesign Ltd
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report