Europe Multiplexed Diagnostics Market Report and Forecast 2024-2032

Europe Multiplexed Diagnostics Market Outlook

The global multiplexed diagnostics market size was valued at USD 12.9 billion in 2023, with Europe holding a significant market share. The market is driven by the rising advancements in diagnostic technology. It is expected to grow at a CAGR of 15.2% during the forecast period of 2024-2032, with the values likely to attain USD 14.9 billion by 2032.

Key Takeaways

• Recent data suggests that 1 out of 3 adults in the European Union (EU) are estimated to have a chronic disease. The rising prevalence of chronic diseases is expected to directly impact market demand.

• One of the significant Europe multiplexed diagnostics market trends is the increased investment in multiplexed technologies to develop novel diagnostic solutions. In May 2023, Delta Diagnostics secured EUR 5.25 million in funding to support the development and marketing of its low-cost, rapid, and sensitive biosensor system for real-time biomolecule detection.

• The favorable regulatory environment is ensuring accelerated approvals and reduced time-to-market in the region. In October 2023, a leading diagnostic company AliveDx received three IVDR CE marks for its automated MosaiQ solution, designed for rapid diagnosis of connective tissue diseases (CTD).

Europe Multiplexed Diagnostics Market Analysis

Multiplexing allows simultaneous detection and identification of multiple biomarkers in a single test. Multiplexed platforms help in the accurate diagnosis of various diseases along with offering insights into selecting the most effective treatment for a specific patient. The increased adoption of multiplexed diagnostic methods can be attributed to the advantages associated with these techniques such as reduced time and cost per analysis. Moreover, the growing interest in personalized medicine and the continuous technological advancements are expected to drive the Europe multiplexed diagnostics market growth in the forecast period.

In Europe, the prevalence of chronic diseases and infectious diseases is rapidly increasing. This impacts the market demand significantly. Recent data suggests that 1 out of 3 adults  in the European Union (EU) are estimated to have a chronic disease. Moreover, the rising geriatric population in the region also fuels the demand for effective and affordable diagnostic techniques, as multi-morbidity (having two or more chronic conditions) rates are reported to be high in this population base. Thus, the rising prevalence of chronic diseases coupled with the growing elderly patient base is projected to boost Europe multiplexed diagnostics market share in the coming years.

The market whichs witnessing a favorable regulatory environmentwhichch ensures accelerated approvals and reduced time-to-market in the region. In October 2023, a leading diagnostic company AliveDx received three IVDR (In-Vitro Diagnostics Regulation) CE marks for its automated MosaiQ solution, designed for rapid diagnosis of connective tissue diseases (CTD). The in-vitro diagnostics solution included MosaiQ Centromere Protein B (CENP-B) microarray, MosaiQ AiPlex CTD multiplexed microarray immunoassays, and MosaiQ AiPlex CTD Quality. These high throughput platforms can enable rapid turnaround times even for complex diagnostic pathways. The increased availability of CE-marked multiplexed testing portfolios in the European Union and other regions is likely to fuel Europe multiplexed diagnostics market demand.

One of the notable trends is the increased investment in multiplexed technologies to develop novel diagnostic solutions. In May 2023, Delta Diagnostics (a biotechnology company) secured EUR 5.25 million in funding led by a consortium of 4 investors to support the development and marketing of its low-cost, rapid, and sensitive biosensor technology. The company’s biosensor method enables multiplexing for simultaneous analysis of biomolecules and can expedite life science research. Such substantial funding supports product development and its subsequent commercialization, is anticipated to propel market growth in the coming years.

Europe Multiplexed Diagnostics Market Segmentation

The report offers a detailed analysis of the market based on the following segments:

Europe Multiplexed Diagnostics Market: Competitor Landscape

The key features of the market report include patent analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Agilent Technologies Inc

• F. Hoffmann-La Roche Ltd

• BioMerieux

• Illumina, Inc

• Hologic, Inc

• Thermo Fisher Scientific Inc.

• Bio-Rad Laboratories Inc.

• Siemens Healthineers AG

• Boston Scientific Corporation

• Diasorin S.p.A

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report