Europe Covid-19 Diagnostics Market Size & Outlook
Europe covid-19 diagnostics market, 2020-2030 (US$M)
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Europe covid-19 diagnostics market highlights
- The Europe covid-19 diagnostics market generated a revenue of USD 10,623.2 million in 2023.
- The market is expected to grow at a CAGR of -20.5% from 2024 to 2030.
- In terms of segment, reagents & kits was the largest revenue generating product in 2023.
- Services is the most lucrative product segment registering the fastest growth during the forecast period.
- Country-wise, Spain is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 10,623.2 million |
| Market revenue in 2030 | USD 2,137.6 million |
| Growth rate | -20.5% (CAGR from 2023 to 2030) |
| Largest segment | Reagents & kits |
| Fastest growing segment | Services |
| Historical data covered | 2020 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Instruments, Reagents & Kits, Services |
| Key market players worldwide | Thermo Fisher Scientific Inc, Hologic Inc, Roche, PerkinElmer, Veredus Laboratories, QuidelOrtho Corp, Quest Diagnostics Inc, Luminex, Labcorp Holdings Inc, Abbott Laboratories, 1Drop Diagnostics, ADT Inc, Mylab Discovery Solutions, Neuberg Diagnostics, Aldatu Biosciences, altona Diagnostics GmbH |
Other key industry trends
- In terms of revenue, Europe region accounted for 32.2% of the global covid-19 diagnostics market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Latin America is the fastest growing regional market and is projected to reach USD 282.6 million by 2030.
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COVID-19 Diagnostics Market Scope
COVID-19 Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe covid-19 diagnostics market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to covid-19 diagnostics market will help companies and investors design strategic landscapes.
Reagents & kits was the largest segment with a revenue share of 61.81% in 2023. Horizon Databook has segmented the Europe covid-19 diagnostics market based on instruments, reagents & kits, services covering the revenue growth of each sub-segment from 2020 to 2030.
Europe accounted for a major revenue share in the market in 2021. This can be attributed to high number of COVID-19 cases coupled with rapid scaling of COVID-19 testing in the region. During the start of the pandemic, Europe had a very high number of COVID-19 cases, which resulted in increased adoption of COVID-19 diagnostic tests in this region.
This is anticipated to boost revenue generation in this region. In May 2021, Europe announced its travel regulations. Individuals traveling to European member states were required to show a negative COVID-19 test result that was not more than 72 hours old.
This initiative drove the revenue in the region. In May 2020, Biomedical received CE mark for its COVID-19 test that delivers results in 10 minutes. The company has since planned to speed up production.
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Our clientele includes a mix of covid-19 diagnostics market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe covid-19 diagnostics market , including forecasts for subscribers. This continent databook contains high-level insights into Europe covid-19 diagnostics market from 2020 to 2030, including revenue numbers, major trends, and company profiles.
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Europe covid-19 diagnostics market size, by country, 2020-2030 (US$M)
Europe COVID-19 Diagnostics Market Outlook Share, 2023 & 2030 (US$M)
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