Europe COVID-19 Diagnostic market is estimated to reach $2.6 billion in 2027, by growing at a CAGR of -22.9 % during the forecast period (2021-2027). Several projects for the development of COVID-19, diagnosis, and treatment were reported over the last few months. Additionally, on 22 July 2020, the European Commission declared nearly $117.8 million to co-fund a call for supporting R&D of coronavirus vaccines, and to develop diagnostic tests, treatments, and other prevention tools. This call was revealed by the Coalition for Epidemic Preparedness Innovations and will get the funding as part of the Commission pledge for the investment of nearly $1.2 billion from Horizon 2020 into the EU research and innovation programs.
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Germany is estimated to contribute significantly in the European COVID-19 Diagnostic market
An increase in COVID-19 incidences occurred in several federal states of Germany. The number of COVID-19 cases is rising in the country, with 902 cases confirmed in just one day, since 15th May. As per the Robert Koch Institute (RKI), a high 7-day incidence with over 100 cases per 100,000 inhabitants was observed in the district of Dingolfing-Landau. Increasing prevalence among harvest workers of an agricultural company is one of the major causes of rising 7-day incidence in the Bavarian district of Dingolfing-Landau. In over 450 employees, more than 150 SARS-CoV-2-infections were identified in a week, as of 2nd August. The local population (3,300 inhabitants) has been provided voluntary testing. Additionally, the COVID-19 outbreak is constantly reported in nursing homes, hospitals, child-day care facilities, family events, refugee facilities, as well as religious communities. Therefore, Bavaria Health Minister has emphasized the requirement to boost testing for target groups (workers and risk groups and in critical infrastructure).
Scope of the Europe COVID-19 Diagnostic Market
Market Coverage
- Market number available – 2021-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered- By Technology, Type and End user
- Countries Covered- UK, Germany, France, Italy, Spain, and Rest of Europe
- Competitive Landscape- BioMérieux SA, F. Hoffmann-La Roche AG, Molecular Biology Systems, Altona Diagnostics GmbH, and Edinburgh Genetics Ltd.
Recent Strategic Initiatives in the Europe COVID-19 Diagnostic Market
- In July 2020, Molecular Biology Systems in the Netherlands has announced a publication detailing the use of its NEXTGENPCR, a machine which is capable of thermocycling at ultrafast speeds with the use of standard reagents and reaction plate formats. This allows for the qualitative detection of a SARS-CoV-2 control plasmid with the use of probe assays designed by the CDC to be completed in eight minutes.
- In June 2020, BforCure in France received nearly $2.1 million in financing to advance its ultra-fast RT-PCR technology. The technology promises to offer results in less than 30 minutes. These technologies are useful to overcome the speed issues in results associated with RT-PCR technology, which is supporting the adoption of the technology in the region.
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Europe COVID-19 Diagnostic Market-Segmentation
By Technology
- Polymerase Chain Reaction (PCR)
- Antibody or Enzyme-Linked Immunosorbent Assay (ELISA)
- Serology
By Type
- Instruments
- Reagents & Kits
By End user
- Hospitals
- Diagnostic Centers & Urgent Care Clinics
- Research Labs
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
