LONDON, April 11, 2017 /PRNewswire/ -- The Western European molecular diagnostics (MDx) market will experience swift
Western European Molecular Diagnostics Market, 2015 Forecast to 2020, recent research from Frost & Sullivan's Life Sciences Growth Partnership Service program, examines the growth potential of the MDx market in Western Europe and the strategic measures taken by market majors such as Roche, Thermofisher, Siemens, Illumina and Agilent. The insight not only studies life science, IVD and research companies, but also players from the POCT segment in the region. The market, which stood at $1.79 billion in 2015, is expected to generate $3.08 billion by 2020, growing at a compound annual growth rate of 11.5 percent.
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"MDx companies which fail to capitalise on opportunities presented through emerging trends and disruptive new business models will become late entrants in a market, where competition between existing products and new products with similar functionalities occur quickly", said Transformational Health Senior Research Analyst Saravanan Thangaraj. "Early entry offers several advantages in terms of wider market share grab, exclusivity for some period of time, and opportunities for emerging markets o cater to biologics manufacturing outsourcing."
Key trends in the Western European MDx market include:
"Companion diagnostics and pharmacogenomics will be the key to redefine treatment and expand the panel of diagnosis toward a particular disease, leading to personalised medicine," observed Sulaikha. "The field of POCT with MDx will be a key area of opportunity to watch."
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Western European Molecular Diagnostics Market, 2015 Forecast to 2020MC62-52
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