Europe Molecular Diagnostics Market Size (2024 - 2029)

Europe Molecular Diagnostics Market Analysis

The Europe Molecular Diagnostics Market size is estimated at USD 3.45 billion in 2024, and is expected to reach USD 5.32 billion by 2029, growing at a CAGR of 8.96% during the forecast period (2024-2029).

Factors such as the increasing burden of various bacterial and viral epidemics in this region, increasing demand for point-of-care diagnostics, and recent advancements in pharmacogenomics are expected to propel market growth during the forecast period. For instance, in May 2023, the ECCMID congress ELITech Group announced the impending launch of a new high throughput sample-to-result instrument for molecular diagnostics. The company’s new high throughput approach will be based on ELITech’s proven extraction and assay technology.

Further, according to the European Alliance for Personalized Medicine December 2023 factsheet, the United Kingdom has a well-established infrastructure for NGS testing. There are dedicated NGS centers equipped with the necessary tools and infrastructure. Sufficient funding is available to develop and maintain NGS infrastructure, indicating a commitment to advancing this technology. Thus, the availability of infrastructure and advancing technology in Europe is anticipated to increase the adoption of molecular diagnostics in the region.

The market players in the region are concentrating on product and technological development and acquiring technology companies to boost market growth. For instance, in May 2024, Bruker Corporation acquired the ELITechGroup business, excluding the carved-out ELITech clinical chemistry business. ELITech provides systems and assays for molecular diagnostics (MDx), biomedical systems/specialty IVD, and microbiology. Such developments are expected to drive the market.

Therefore, the market is anticipated to achieve high growth rates during the forecast period due to the above factors. However, the need for high-complexity testing centers is expected to hinder market growth during the forecast period.

Europe Molecular Diagnostics Industry Segmentation

Molecular diagnostic tests detect specific sequences in DNA or RNA (including single nucleotide polymorphisms (SNP), deletions, rearrangements, and insertions), which may or may not be associated with diseases.

The European molecular diagnostics market is segmented by technology, application, product, end user, and geography. By technology, the market is segmented into in situ hybridization, chips and microarrays, mass spectrometry (MS), sequencing, PCR, and other technologies. By application, the market is segmented into infectious diseases, oncology, pharmacogenomics, microbiology, genetic disease testing, and other applications. By product, the market is segmented into instruments, reagents, and other products. By end user, the market is segmented into hospitals, laboratories, and other end users. Geographically, the market is segmented into Germany, the United Kingdom, France, Italy, Spain, and the Rest of Europe. The market report also covers the estimated market sizes and trends in Europe. The report offers market size and forecasts in value (USD) for the above segments.