Europe Oncology Based Molecular Diagnostics Market Size & Outlook
Europe oncology based molecular diagnostics market, 2018-2030 (US$M)
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Europe oncology based molecular diagnostics market highlights
- The Europe oncology based molecular diagnostics market generated a revenue of USD 680.7 million in 2023.
- The market is expected to grow at a CAGR of 9.8% from 2024 to 2030.
- In terms of segment, instruments was the largest revenue generating product in 2023.
- Instruments is the most lucrative product segment registering the fastest growth during the forecast period.
Europe data book summary
| Market revenue in 2023 | USD 680.7 million |
| Market revenue in 2030 | USD 1,308.0 million |
| Growth rate | 9.8% (CAGR from 2023 to 2030) |
| Largest segment | Instruments |
| Fastest growing segment | Instruments |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Instruments |
| Key market players worldwide | Abbott Laboratories, Bayer AG, BD, Agilent Technologies Inc, Danaher Corp, Hologic Inc, Qiagen NV, Roche, Siemens AG, Sysmex Corp |
Other key industry trends
- In terms of revenue, Europe region accounted for 25.2% of the global oncology based molecular diagnostics market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,689.5 million by 2030.
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Oncology based Molecular Diagnostics Market Scope
Oncology based Molecular Diagnostics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe oncology based molecular 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 oncology based molecular diagnostics market will help companies and investors design strategic landscapes.
Instruments was the largest segment with a revenue share of 100% in 2023. Horizon Databook has segmented the Europe oncology based molecular diagnostics market based on instruments covering the revenue growth of each sub-segment from 2018 to 2030.
Increase in prevalence of cancer coupled with growing investments for development of advanced technology is expected to drive the market in this region. However, a new regulation was issued regarding IVD and medical devices in European countries. In 2017, in the EU, a new IVD Regulation (IVDR) and Medical Devices Regulation (MDR) was established.
The changes in the device classification system will encourage all the IVD manufacturers. Currently, most of the IVDs are self-declare devices, where manufacturers are entirely responsible for complying with the guidelines. However, as per the new regulation, around 80% of the devices will need some form of conformity assessment by a notified body.
Class B, C, and D devices will require involvement of notified body. The MDR will be effective from 16 May 2020 and the IVDR from 26 May 2022 and is expected to replace the existing EU medical device directive. The new regulation is estimated to present a more sustainable and robust framework for compliance of molecular diagnostic devices.
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Target buyers of Europe oncology based molecular diagnostics market databook
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Our clientele includes a mix of oncology based molecular 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 oncology based molecular diagnostics market , including forecasts for subscribers. This continent databook contains high-level insights into Europe oncology based molecular diagnostics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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