The degree of competition in the Europe molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) test products is moderate. However, the increasing efforts by market players to meet the spiraling demand for innovative and technologically advanced test products are likely to intensify the competition in the near future, finds Transparency Market Research (TMR) in a new study.
Some of the key players operating in the market are F. Hoffmann-La Roche Ltd., Meridian Bioscience Inc., Hologic Inc., and Nanosphere Inc. “The wide geographical presence and advanced research infrastructure of key players help them in building a large base of patrons,” says TMR’s lead analyst.
The Europe molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) test products is projected to rise to a valuation of US$22.3 mn by 2023 from US$10.3 mn in 2016, expanding at a noteworthy CAGR of 11.6% from 2015 to 2023.
Hospital to Remain Leading End User Segment through 2024
Based on end user, hospitals will dominate the market throughout the forecast period. The increasing number of patients visiting hospitals for diagnostic tests is fuelling the growth of the segment. The segment is estimated to register a CAGR of 12.0% during the same period.
On the basis of geography, Western Europe will continue to be at forefront of the growth of the molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) test products until 2023, representing 47.5% of its value. The increasing consumer healthcare expenditure and high demand for nucleic acid tests are contributing to the growth of the region. Northern Europe is poised to rise at a CAGR higher than any other region during the review period, owing to the rising prevalence of infectious diseases.
Advent of Novel Nucleic Acid Testing Technologies Accelerates Market Growth
Recent developments in the field of nucleic acid testing are leading to a shift of technology from the laboratory to point-of-care (POC) testing, which in turn is working in favor of the Europe molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) test products. “POC settings offer numerous advantages such as greater performance, user-friendliness, and portability over traditional diagnostics systems,” says a TMR analyst.
Moreover, advancements in nucleic acid testing technologies are providing a fillip to the market. The introduction of novel technologies enable effective patient management, reduced interpretation and transcription errors, and increased detection sensitivity as compared to conventional techniques. The growing occurrence of Streptococcus pyogenes infection is also augmenting the market.
Variation in Reimbursement Policies within Europe Inhibits Growth Prospects
The variation in the reimbursement processes and criteria for nucleic acid tests in different countries in Europe despite a more or less common regulatory regime is negatively impacting the growth of the molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) test products. Moreover, the lack of awareness is leading to the slow adoption of these test products. Low healthcare expenditure by many governments and the lack of required facilities along with the dearth of skilled trainers to handle complex PCR processes are hampering the growth of the market.
The above data has been derived from a report by TMR, titled “Molecular Diagnostic Market for Group A Streptococcus (GAS) Nucleic Acid (NA) Test Products (Technique Type - Polymerase Chain Reaction, Non-amplified Tests, and Isothermal Nucleic Acid Amplification Technology; End Users - Hospitals, Public Health Laboratories, and Referenced and Clinical Laboratories) - Europe Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015-2023.”
The Europe molecular diagnostic market for group A streptococcus (GAS) nucleic acid (NA) test products has been segmented as follows:
Europe Molecular Diagnostic Market for Group A Streptococcus (GAS) Nucleic Acid (NA) Test Products, by Type of Technique
- Isothermal nucleic acid amplification technology (iNAT)
- Polymerase chain reaction
- Non-amplified Tests
Europe Molecular Diagnostic Market for Group A Streptococcus (GAS) Nucleic Acid (NA) Test Products, by End-user
- Public Health Laboratories
- Others (referenced and clinical laboratories)
Europe Molecular Diagnostic Market for Group A Streptococcus (GAS) Nucleic Acid (NA) Test Products, by Geography
- Northern Europe
- United Kingdom of Great Britain and Northern Ireland
- Eastern Europe
- Eastern Europe
- Czech Republic
- Russian Federation
- Rest of Eastern Europe
- Western Europe
- Rest of Western Europe
- Southern Europe
- Rest of Southern Europe
- Rest of Europe (including Scandinavia, Mediterranean Europe, and Azerbaijan)
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC