Western European IVD Market Boosted by Fast-Growing MDx, POCT and Tissue Diagnostics Segments

Wednesday, November 1, 2017 General News
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The focus on integrated solutions that synergise technology adoption and digital solutions will accelerate market access, finds Frost & Sullivan's Transformational Health team

LONDON, Nov. 1, 2017 /PRNewswire/ -- The Western European in-vitro diagnostic (IVD) industry continues to expand despite global economic and industry

challenges. Factors driving growth include a high prevalence of chronic disease and infections, such as sepsis and tuberculosis, and fast-growing segments like molecular diagnostics (MDx), point-of-care testing (POCT), and tissue diagnostics. Furthermore, rapid advancements in device miniaturisation and information technology (IT) are propelling the market towards process simplicity and decentralisation.

Frost & Sullivan's research, "Growth Opportunities in the Western European IVD Industry, Forecast to 2021," provides an analysis of current and anticipated market developments, drivers, restraints, and revenue forecasts across eight segments, including immunochemistry, molecular diagnostics, self-monitoring blood glucose meter, point-of-care testing (POCT), haematology, tissue diagnostics, haemostatic, and clinical microbiology. Market share and competitive landscape for major players including Abbott Laboratories, Beckman Coulter, Inc., F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, ThermoFisher Scientific Inc, Becton, and Dickinson and Company are provided. The study further discusses trends impacting Western European national markets, including Germany, France, the UK, Spain, Italy, the Benelux region and Scandinavia.

To access more information on this analysis, please click here.

"Mergers and acquisitions continue to be an important competitive strategy to access new technologies, expand product offerings, enter emerging markets, or increase market share," noted Transformational Health Research Analyst Saravanan Thangaraj. "Further industry consolidation will occur at a rapid pace and intensify market concentration as IVD companies are acquired by larger players in the IVD sector, as well as pharmaceutical companies and non-traditional healthcare companies."

Strategic imperatives for Western Europe IVD companies to embrace include:

  • Investing in digital strategies to make business models patient-centric with consumer-friendly devices that can deliver quick results in-lab and at home;
  • Focusing on the promotion of companion diagnostics (CD)-based targeted therapies that will lead to the rise of new business partnerships;
  • Developing business models around outcome-based care delivery and preventative care to reduce elderly care and chronic disease management costs;
  • Consolidating and partnering in single-cell genomics, next-generation sequencing (NGS), and Clustered Regularly Interspaced Short Palindromic Repeats (CRISPR), as genetic testing techniques become affordable to a larger population; and
  • Prioritising the commercialisation of new technologies.

"Digital innovations in the IVD industry, such as digital pathology, precision medicine, and health analytics, are radically changing the care continuum in Western Europe," added Thangaraj. "Going forward, companies will combine genomic sequencing and machine learning to recommend personalised treatment options for patients."

Growth Opportunities in the Western European IVD Industry, Forecast to 2021, is part of Frost & Sullivan's Life Sciences Growth Partnership Service programme.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion

Growth Opportunities in the Western European IVD Industry, Forecast to 2021MD00-55

Contact:Kristina MenzefrickeCorporate Communications – Frost & Sullivan, EuropeP: +44 (0)208 996 8589E: [email protected]http://www.frost.com

 

View original content:http://www.prnewswire.com/news-releases/western-european-ivd-market-boosted-by-fast-growing-mdx-poct-and-tissue-diagnostics-segments-300547347.html

SOURCE Frost & Sullivan



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