Market Research Report
Germany In-Vitro Diagnostics Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||391042|
|Published||Content info||85 Pages
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|Germany In-Vitro Diagnostics Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: June 1, 2020||Content info: 85 Pages||
The IVD market in Germany is the one of the largest in Europe. It involves development and manufacture of biological and chemical reagents, test kits, automated machines, and devices that are used to analyze body fluids. Most of the sector comprises of small and medium sized enterprises (SMEs). According to the German Diagnostics Industry Association (VDGH), the IVD and reagent market turnover recorded in 2017 amounted to roughly EUR 2-3 billion. Companies generated the bulk of their turnover with the reagents (86.5% of turnover). Instruments and services totaled 13.5% of turnover. Innovative developments in the IVD field are currently driven by four major trends: point-of-care testing, automation, digitalization, and the concept of personalize medicine. Some other factors contributing to the growth of market include rapid increase in the chronic and infectious disease population, technological advances, rapidly aging population, and advent of point of care diagnostics. Some of the factors limiting the growth of the market are a lack of proper reimbursement policies and cumbersome regulatory framework.
Molecular diagnostic segment dominates the Germany In-Vitro Diagnostics Market
Molecular diagnostics are used to analyze biological markers in the genome and proteome to detect pathogens or mutations. On the basis of technology used, molecular diagnostic devices can be segmented into chips and microarrays, mass spectroscopy, next-generation sequencing (NGS), polymerase chain reaction (PCR)-based methods, cytogenetics, and molecular imaging. Molecular diagnostics has emerged as one of the largest and fastest growing sectors of the IVD industry in Germany. This development is fueled by the introduction of powerful techniques, such as real-time polymerase chain reaction (PCR) and next generation sequencing (NGS), which allow the amplification and decoding of genetic and epigenetic information.
Germany In-Vitro Diagnostics market has rapidly evolved over the last few years. Industry observed significant changes in adoting market strategies such as product developments, mergers and acquisitions in recent years. Thus, the Germany In-Vitro Diagnostics market has become a very competitive industry. Major companies in the market are Thermo Fischer Scientific Inc., Qiagen N.V., Abbott Laboratories, Siemens Healthcare GmbH and F. Hoffmann-La Roche AG among others