Europe Laboratory Developed Tests Market Size & Outlook
Europe laboratory developed tests market, 2018-2030 (US$M)
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Europe laboratory developed tests market highlights
- The Europe laboratory developed tests market generated a revenue of USD 3,833.6 million in 2023.
- The market is expected to grow at a CAGR of 7.8% from 2024 to 2030.
- In terms of segment, molecular diagnostics was the largest revenue generating technology in 2023.
- Immunoassays is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, Germany is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 3,833.6 million |
| Market revenue in 2030 | USD 6,481.1 million |
| Growth rate | 7.8% (CAGR from 2023 to 2030) |
| Largest segment | Molecular diagnostics |
| Fastest growing segment | Immunoassays |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Immunoassays, Hematology and Coagulation, Molecular Diagnostics, Microbiology, Clinical Chemistry, Histology/Cytology, Flow Cytometry, Mass Spectroscopy |
| Key market players worldwide | Quest Diagnostics Inc, 23andMe Holding Co Class A, Abbott Laboratories, Guardant Health Inc, NeoGenomics, Siemens Healthineers AG ADR, Qiagen NV, Illumina Inc, Roche Holding AG ADR |
Other key industry trends
- In terms of revenue, Europe region accounted for 31.0% of the global laboratory developed tests market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 6,481.1 million by 2030.
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Laboratory Developed Tests Market Scope
Laboratory Developed Tests Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe laboratory developed tests 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 laboratory developed tests market will help companies and investors design strategic landscapes.
Molecular diagnostics was the largest segment with a revenue share of 26.12% in 2023. Horizon Databook has segmented the Europe laboratory developed tests market based on immunoassays, hematology and coagulation, molecular diagnostics, microbiology, clinical chemistry, histology/cytology, flow cytometry, mass spectroscopy covering the revenue growth of each sub-segment from 2018 to 2030.
Several initiatives are taken by various companies in Europe to develop and commercialize LDTs. Some of the common initiatives include:
Collaboration among academic institutions and research centers to develop new LDTs and validate their performance. This allows them to access the latest research and scientific knowledge, as well as benefit from the expertise of academic researchers.
Expansion of the existing product portfolio to include LDTs. This allows them to offer a wider range of diagnostic solutions to healthcare providers and patients.
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Target buyers of Europe laboratory developed tests market databook
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Our clientele includes a mix of laboratory developed tests 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 laboratory developed tests market , including forecasts for subscribers. This continent databook contains high-level insights into Europe laboratory developed tests market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe laboratory developed tests market size, by country, 2018-2030 (US$M)
Europe Laboratory Developed Tests Market Outlook Share, 2023 & 2030 (US$M)
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