Market Trends of France In-Vitro Diagnostics Industry
This section covers the major market trends shaping the France In-Vitro Diagnostics Market according to our research experts:
Infectious Disease Segment Expects to Register a High CAGR in the France In-Vitro Diagnostics Market Over the Forecast Period
The infectious diseases segment is expected to witness significant growth in the in-vitro diagnostics market over the forecast period owing to factors such as the rising prevalence of infectious diseases and rising awareness among the population, and growing demand for point-of-care diagnostics.
The increasing prevalence of infectious diseases such as HIV/AIDS, tuberculosis, hepatitis B, hepatitis C, and others are the key factor driving the demand for the in-vitro diagnostics market in the country. For instance, as per the data published by the WHO, as of November 2022, 37,600,262 confirmed cases of COVID-19 were reported in France. Thus, the high number of coronavirus infections among the population increases the demand for early diagnosis and effective treatment options, thereby propelling the market growth. Moreover, growing awareness regarding early diagnosis and treatment and increasing company focus on developing effective diagnostic products for detecting various infectious diseases are expected to boost market growth over the forecast period. For instance, In March 2021, BioMérieux received the CE marking of its innovative and fully automated test VIDAS TB IGRA (Interferon-Gamma Release Assay) to diagnose latent TB infection.
Thus, due to the rise in infectious disease, and the increase in invitro diagnostics product launches, the infectious disease segment is anticipated to witness growth in the market over the forecast period.
Molecular Diagnostics Segment Expects to Witness a Growth in the France In-Vitro Diagnostics Market Over the Forecast Period
The molecular diagnostics segment is expected to witness significant growth in the France in-vitro diagnostics market over the forecast period owing to factors such as the rising prevalence of chronic and, rising awareness among the population, and growing demand for molecular diagnostics.
The increasing prevalence of chronic diseases, such as cancer, cardiovascular disease, arthritis, and diabetes, is the key factor driving the demand for the molecular diagnostics market in the country. For instance, as per the estimations from IARC, 579,388 cancer cases are anticipated to be diagnosed in France in 2040. As the number of cancer cases increases, the molecular diagnostics tests utilization increases, thereby boosting the market growth.
Product launches, partnerships, and collaboration to increase molecular diagnostics product availability in France are anticipated to drive market growth. For instance, since January 1, 2022, the 'HIV Test' operation has enabled all patients who wish to do so to carry out a free HIV test, without prescription or appointment, in any medical biology laboratory in France. Furthermore, in February 2021, the French startup Omini, specializing in the development of portable blood tests, raised EUR 1.7 million in seed from the deep tech investor Entrepreneur First, 6 French networks of businesses (BADGE, AMBA, Angel Santé, INSEAD BA, WeLikeAngels, PSBA) as well as strategic business and the BPI.
Thus, due to the rise in chronic diseases, and the increase in molecular diagnostic product launches, the molecular diagnostics segment is anticipated to witness growth in the market over the forecast period.
