Europe Precision Diagnostics Market Forecast to 2028 - COVID-19 Impact and Regional Analysis

List of Tables

The precision diagnostics market in Europe is expected to grow from US$ 23,317.64 million in 2022 to US$ 48,500.85 million by 2028. It is estimated to grow at a CAGR of 13.0% from 2022 to 2028.

Healthcare is entering the era of personalized approaches, with treatment tailored to precise disease patterns. Advanced-stage disease diagnosis has lower survival rates, higher treatment morbidity, and higher healthcare costs. As the first step in personalized medicine, diagnosis aims to characterize diseases based on patient-specific information and detect and prevent diseases as early as possible. For example, the 5-year survival rate for non-small cell lung cancer (NSCLC) is expected to increase to over 90% for patients diagnosed at the earliest stage, compared to only 10% at the metastatic stage.

Precision diagnostics assists in providing a precise and timely explanation of a patient's health problem, allowing treatment to be delivered promptly. There is a greater demand for personalized medicine due to advancements in genomics research and biomarkers due to the efficiency and target-specific nature of personalized medicine with better patient outcomes. The growing demand for personalized medicine and treatment procedures is surging the need for diagnostic products, as it allows medical professionals to diagnose patients and solve health problems accurately.

Personalized therapy is available to patients with an understanding of the molecular basis of diseases. It is gaining popularity, where genetic testing and genome sequencing are essential tools to understand disease molecular basis. Advances in new diagnostic tools that allow for even greater precision are advancing further. In addition, many genetic disorders are screened for in European countries, as early detection of these diseases prevents the onset of symptoms or reduces disease severity. For example, the sudden increase in COVID-19 pandemic cases accelerated the need for effective diagnostic procedures and products.

Diagnostic testing was the backbone of the COVID-19 response, supporting containment efforts to reduce the cases, and accelerating the uptake of diagnosing solutions to provide patients with early treatment. Therefore, the increasing demand for the early diagnosis of diseases through precision diagnostic tests is driving the market.

Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)

Europe Precision Diagnostics Market Segmentation

The Europe precision diagnostics market is segmented by type, application, end user, and country. Based on type, the market is segmented into genetic tests, esoteric tests, and others. The genetic tests segment dominated the market in 2022.

Based on application, the market is fragmented into oncology, cardiology, immunology, respiratory diseases, and others. The oncology segment dominated the market in 2022. Based on end user, the market is segmented into hospitals, clinical laboratories, home care, and others. The clinical laboratories segment dominated the market in 2022.

Based on country, the market is segmented into Germany, France, the UK, Italy, Spain, and the rest of Europe. Further, Germany dominated the market in 2022.

A few key players dominating the Europe precision diagnostics market are Abbott; Bayer AG; Koninklijke Philips N.V.; Lantheus Medical Imaging, Inc.; Novartis AG; QIAGEN; Quest Diagnostics Incorporated; Sanofi; Siemens Healthineers AG; and Swiss Precision Diagnostics GmbH.

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Product Code: BMIRE00026144

1. Introduction

1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
- 1.3.1 Europe Precision Diagnostics Market - By Type
- 1.3.2 Europe Precision Diagnostics Market - By Application
- 1.3.3 Europe Precision Diagnostics Market - By End User
- 1.3.4 Europe Precision Diagnostics Market - By Country

2. Europe Precision Diagnostics Market - Key Takeaways

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Europe Precision Diagnostics Market - Market Landscape

4.1 Overview
4.2 PEST Analysis
- 4.2.1 Europe - PEST Analysis
4.3 Expert Opinion

5. Europe Precision Diagnostics Market - Key Market Dynamics

5.1 Key Market Drivers
- 5.1.1 Growing Demand for Personalized Medicine
- 5.1.2 Rising Application in Oncology and Other Disorders
5.2 Market Restraints
- 5.2.1 High Investments Involved in the R&D of Precision Medicine and Diagnostic Kits
5.3 Market Opportunities
- 5.3.1 Growing Advancement In Digital Solutions
5.4 Future Trends
- 5.4.1 Usage of Artificial Intelligence and Machine Learning in Precision Diagnostics
5.5 Impact Analysis

6. Precision Diagnostics Market- Europe Analysis

6.1 Europe Precision Diagnostics Market Revenue Forecast and Analysis

7. Europe Precision Diagnostics Market- by Type

7.1 Overview
7.2 Genetic Tests
- 7.2.1 Overview
- 7.2.2 Genetic Tests: Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
7.3 Esoteric Tests
- 7.3.1 Overview
- 7.3.2 Esoteric Tests: Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
7.4 Others
- 7.4.1 Overview
- 7.4.2 Others: Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)

8. Europe Precision Diagnostics Market- by Application

8.1 Overview
8.2 Oncology
- 8.2.1 Overview
- 8.2.2 Oncology: Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.3 Cardiology
- 8.3.1 Overview
- 8.3.2 Cardiology: Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.4 Respiratory Diseases
- 8.4.1 Overview
- 8.4.2 Respiratory Diseases: Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.5 Immunology
- 8.5.1 Overview
- 8.5.2 Immunology: Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
8.6 Others
- 8.6.1 Overview
- 8.6.2 Others: Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)

9. Europe Precision Diagnostics Market- by End User

9.1 Overview
9.2 Clinical Laboratories
- 9.2.1 Overview
- 9.2.2 Clinical Laboratories: Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
9.3 Hospitals
- 9.3.1 Overview
- 9.3.2 Hospitals: Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
9.4 Homecare
- 9.4.1 Overview
- 9.4.2 Homecare: Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)
9.5 Others
- 9.5.1 Overview
- 9.5.2 Others: Europe Precision Diagnostics Market Revenue and Forecast to 2028 (US$ Million)

10. Europe Precision Diagnostics Market- by Country

10.1 Europe: Precision Diagnostics Market- Revenue and Forecast to 2028
- 10.1.1 Overview
- 10.1.2 Europe: Precision Diagnostics Market, by Country, 2022 & 2028 (%)
  - 10.1.2.1 Germany: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.1.1 Germany: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.1.2 Germany: Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
    - 10.1.2.1.3 Germany: Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
    - 10.1.2.1.4 Germany: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
  - 10.1.2.2 France: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.2.1 France: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.2.2 France: Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
    - 10.1.2.2.3 France: Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
    - 10.1.2.2.4 France: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
  - 10.1.2.3 UK: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.3.1 UK: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.3.2 UK: Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
    - 10.1.2.3.3 UK: Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
    - 10.1.2.3.4 UK: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
  - 10.1.2.4 Italy: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.4.1 Italy: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.4.2 Italy: Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
    - 10.1.2.4.3 Italy: Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
    - 10.1.2.4.4 Italy: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
  - 10.1.2.5 Spain: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.5.1 Spain: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.5.2 Spain: Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
    - 10.1.2.5.3 Spain: Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
    - 10.1.2.5.4 Spain: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)
  - 10.1.2.6 Rest of Europe: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.6.1 Rest of Europe: Precision Diagnostics Market - Revenue and Forecast to 2028 (US$ Million)
    - 10.1.2.6.2 Rest of Europe: Precision Diagnostics Market Revenue and Forecast to 2028, By Type (US$ Million)
    - 10.1.2.6.3 Rest of Europe: Precision Diagnostics Market Revenue and Forecast to 2028, By Application (US$ Million)
    - 10.1.2.6.4 Rest of Europe: Precision Diagnostics Market Revenue and Forecast to 2028, By End User (US$ Million)

11. Europe Precision Diagnostics Market -Industry Landscape

11.1 Overview
11.2 Organic Developments
- 11.2.1 Overview
- 11.2.2 Organic Growth Strategies in the Precision Diagnostics Market, 2018-2022
11.3 Inorganic Developments
- 11.3.1 Overview
- 11.3.2 Inorganic Growth Strategies in the Precision Diagnostics Market, 2018-2022

12. Company Profiles

12.1 Quest Diagnostics Incorporated
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 QIAGEN
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 Swiss Precision Diagnostics GmbH
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 Koninklijke Philips N.V.
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Lantheus Medical Imaging, Inc.
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Siemens Healthineers AG
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Abbott
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Novartis AG
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 Sanofi
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 Bayer AG
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments

13. Appendix

13.1 About The Insight Partners
13.2 Glossary of Terms