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Increasing Consolidations in Europe In-vitro Diagnostics Market, an indication of Stiff Competition: Ken Research

April 2014  

The diagnostics industry in Europe has been working with three clusters of stakeholders to spread awareness of in vitro diagnostics. These clusters include lab medicine professionals, patient groups and health economists. The in vitro diagnostics industry has historically had close contacts with the professional associations of laboratory medicine and has recently started partnering with them to encourage awareness of in vitro diagnostics. With the support of the European Diagnostics Manufacturers Association, European Laboratory Medicine has been established to connect several professional organizations in laboratory medicine. This new forum has been spreading awareness of the importance of laboratory medicine in general and in vitro diagnostics in particular. 


The company’s competitiveness in the European market is also determined by a strategy of acquisitions and partnerships, which has enabled it to supplement its areas of specialization and to develop new, multidisciplinary approaches The competition in Europe has been growing more intense, with the countries’ demographics shifting owing to ageing populations and declining birth rates, business becoming progressively more global, and companies from other areas of business entering the IVD market. 
 
The Europe in-vitro diagnostic market is expected to grow at a considerable CAGR, reaching USD 17 billion by 2018, due to a major push from ageing population and mounting awareness about in-vitro testing. 
 
“The rising disposable incomes, soaring population with lifestyle diseases and an increase in the number of tests driven by the trend of early detection will lead to an increase in the spending on diagnostic tests in Europe and steep rise in automated laboratories is expected to augment the revenues from the in-vitro diagnostics market in Europe”, according to the research report published by Ken Research.
 
The report on “Europe In-Vitro Diagnostics Market Future Outlook to 2018” provides detailed overview of the IVD market in Europe and related countries and helps the readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, diagnostic companies and other stakeholders align their market centric strategies according to ongoing and expected trends in future.