Market Trends of Europe Molecular Diagnostics Industry
This section covers the major market trends shaping the Europe Molecular Diagnostics Market according to our research experts:
The Infectious Disease Segment is Expected to Witness High Growth Over the Forecast Period
The infectious disease segment is anticipated to hold significant market shares over the forecast period. This segment is driven by the increased number of medicine developed and the European region's massive burden of infectious diseases. For instance, sexually transmitted infections (STIs) represent a significant public health problem in the United Kingdom. According to GOV. In the UK, in December 2021, 311,604 new STIs diagnoses were reported among England residents; a similar number was reported in 2020 (0.5% increase from 309,921), and a decrease of 33.2% since 2019 was reported. Among these, the most commonly diagnosed STIs were chlamydia (161,672; 51% of all new STI diagnoses), first episode genital warts (27,473; 9%), gonorrhea (57,084; 18%), and genital herpes (20,530; 6%). Therefore, a rise in the prevalence of such infectious diseases is expected to fuel the market growth during the forecast period.
Moreover, key players in the region are expanding their regional market position by adopting various strategies, such as mergers and acquisitions, while others are developing new test methods for diagnosis and introducing new products to retain their market share. For instance, in May 2021, Swiss pharmaceutical giant, Roche, entered into a definitive merger agreement with GenMark Diagnostics, under which Roche may acquire GenMark's molecular tests designed to screen patient samples for multiple infections simultaneously.
Therefore, the factors mentioned above are expected to drive segmental growth in the market during the forecast period.
Germany is Expected to Dominate the Europe Molecular Diagnostics Market
Germany has a strong base of global companies working on developing molecular diagnostics due to the increasing prevalence of chronic diseases and the rising geriatric population in the country, which is more prone to several chronic diseases. This is expected to drive market growth. The increasing incidence of chronic conditions, such as cancer in Germany, is expected to contribute to the development of the market. According to the GLOBOCAN report of 2020, about 628,519 new cancer cases were registered in 2020 in Germany. Breast and colorectum cancer were more prevalent in females, while in males, prostate and lung cancer were more prevalent in the country. The increasing prevalence of cancer conditions among the German population led to the rise in demand for molecular diagnostics, thereby contributing to the overall market growth during the studied period.
The country's development will drive market growth in the forecast period. For instance, in December 2021, Medix Biochemica launched its molecular diagnostic reagents division, MedixMDx, in 2021 MEDICA, the world's largest annual medical technology trade fair, which took place in Germany.
Thus, owing to the abovementioned factors, the studied market in Germany is expected to project growth over the forecast period.
