Europe Oncology Companion Diagnostic Market Size & Outlook
Europe oncology companion diagnostic market, 2018-2030 (US$M)
Europe oncology companion diagnostic market highlights
- The Europe oncology companion diagnostic market generated a revenue of USD 1,379.8 million in 2023.
- The market is expected to grow at a CAGR of 7.8% from 2024 to 2030.
- In terms of segment, product was the largest revenue generating product & service in 2023.
- Service is the most lucrative product & service 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 1,379.8 million |
| Market revenue in 2030 | USD 2,331.8 million |
| Growth rate | 7.8% (CAGR from 2023 to 2030) |
| Largest segment | Product |
| Fastest growing segment | Service |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Product, Service |
| Key market players worldwide | Agilent Technologies Inc, Illumina Inc, Qiagen NV, Thermo Fisher Scientific Inc, Roche, ARUP Laboratories, Abbott Laboratories, Myriad Genetics Inc, BioMerieux SA |
Other key industry trends
- In terms of revenue, Europe region accounted for 28.9% of the global oncology companion diagnostic 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 1,857.1 million by 2030.
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Oncology Companion Diagnostic Market Scope
Oncology Companion Diagnostic Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Europe oncology companion diagnostic 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 companion diagnostic market will help companies and investors design strategic landscapes.
Product was the largest segment with a revenue share of 66.51% in 2023. Horizon Databook has segmented the Europe oncology companion diagnostic market based on product, service covering the revenue growth of each sub-segment from 2018 to 2030.
Europe accounts for a considerable revenue share of the oncology companion diagnostic market due to the presence of developed economies, such as Germany, Spain, the UK, France, and Italy. These countries have advanced infrastructure, which is anticipated to significantly boost clinical research prospects in the region.
Moreover, the growing biotechnology industry and rising investments in genomic sequencing in countries such as the UK & Germany are other major factors expected to improve market growth over the coming decade. The rising prevalence and mortality rates of cancer are key drivers in the healthcare market, leading to increased demand for advanced diagnostic technologies, including CDx tests that enhance early detection and treatment outcomes.
With an aging population, the burden of cancer in the European Union (EU) is escalating, shown by 2.7 million new cases and an estimated 1.3 million cancer-related deaths in 2022. According to the European Cancer Information System's 2022 statistics, colorectal, breast, cervical, lung, prostate, and gastric cancers account for 54.2% of all new cancer cases and 50.2% of cancer deaths in the EU.
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Target buyers of Europe oncology companion diagnostic market databook
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Our clientele includes a mix of oncology companion diagnostic 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 companion diagnostic market , including forecasts for subscribers. This continent databook contains high-level insights into Europe oncology companion diagnostic market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe oncology companion diagnostics market size, by country, 2018-2030 (US$M)
Europe Oncology Companion Diagnostic Market Outlook Share, 2023 & 2030 (US$M)
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