As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
The Europe COVID-19 diagnostics industry is anticipated to rise significantly in the forecast period owing to the increasing government funding and favourable government policies to control the rising number of COVID-19 infections in the United Kingdom and France. The increasing number of immigrants and the flourishing travel and tourism industry in the region are expected to increase the demand for COVID-19 diagnostics. France is one of the most popular tourist destinations and the country has a number of monuments, resorts, and places that attract tourists from all over the globe. These factors are likely to have a positive influence on the market growth over the forecast period.
On the basis of sample type, the nasopharyngeal swab segment is anticipated to significantly contribute to the growth of the European market owing to its higher sensitivity to SARS-CoV-2. This segment is likely to witness a lucrative growth rate, resulting in a significant revenue share in the forecast period.
The initiatives taken by the governments of various European countries and public health organisations and the rising investment in healthcare infrastructure are expected to provide a further impetus to the market. The increasing collaboration between key players and public and private organisations, such as Novacyt’s strategic alliance with GlaxoSmith (NYSE: GSK), AstraZeneca (NASDAQ: AZN), and the University of Cambridge to support and expand the COVID-19 testing effort in the United Kingdom, is expected to further aid the industry growth in the forecast period.
Market Breakup by Test Type, Product, Sample Type, Business Mode, End Use, and Region:
Key Findings of the Report:
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The major players in the Europe COVID-19 diagnostics market are Altona Diagnostics GmbH, Genomica S.A.U, Clonit srl, BioMaxima SA, and Primerdesign Ltd, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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