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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.

Europe COVID-19 Diagnostics Market to Witness a Considerable Growth During 2021-2026, Aided by the Rising Number of COVID-19 Cases and Increasing Government Funding

According to a new report by EMR titled, ‘Europe COVID-19 Diagnostics Market Report and Forecast 2021-2026’, the market is being supported by the increasing cases of COVID-19 infections in the UK and France, which have performed around 112 million and 58 million tests, respectively, for COVID-19 as of March 2021.

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 Model, End Use, and Region:

  • The market is segmented based on test type into PCR test, antigen test, and antibody test, among others.
  • On the basis of product, the market can be divided into RT-PCR assay kits, immunoassay test strips, and others. 
  • The different sample types in the industry include nasopharyngeal swab, oropharyngeal (OP) swab, nasal swab, and blood test, among others. 
  • The market, on the basis of business model, can be segmented into point-of-care (POC) testing and non-point-of-care (POC) testing.
  • The significant end use segments of the product include hospitals, diagnostic centres and clinics, and laboratories, among others.
  • The COVID-19 diagnostics industry in Europe can be divided into Germany, Italy, the UK, France, and rest of Europe.

Key Findings of the Report:

  • The COVID-19 diagnostics industry in Europe is being driven by the rising number of COVID-19 cases post ease of lockdown, especially in countries like the UK and France, owing to their attractive travel destinations. 
  • The growing collaboration among key market players to expand testing capacity is likely to bolster the market growth. 
  • The various initiatives by governments and public health organisations to encourage testing programmes are expected to provide further impetus to the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the Europe market for COVID-19 diagnostics for the periods (2016-2020) and (2021-2026). 
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the test types, products, sample types, business models, end uses, and major regions of COVID-19 diagnostics in Europe.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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