Over 55 million people worldwide have dementia, and nearly 10 million new cases are diagnosed each year, with Alzheimer's disease (AD) making up the majority of cases, according to a World Health Organization (WHO) report updated in September 2021. To find these uncommon diseases, several multiplex panels have been created. For instance, the researchers of the study created a multiplex-PCR (polymerase chain reaction) based diagnostic method that demonstrated the quick and precise detection of AD biomarkers, according to the April 2021 article "Advances in multiplex PCR for Alzheimer's disease diagnostics targeting CDK genes." These discoveries and studies boost interest in syndromic multiplex diagnostics and advance the market.
According to Data Bridge Market Research, the Syndromic Multiplex Diagnostic Market is USD 3879.99 million in 2022, is expected to reach USD 7562.53 million by 2030, at a CAGR of 8.7% during the forecast period 2023 to 2030
"Increasing demand for rapid and accurate diagnostics surge market demand"
The increasing demand for rapid and accurate diagnostics in Europe is a significant driver for adopting syndromic multiplex diagnostic solutions. These systems allow for the simultaneous detection of multiple pathogens, providing quick and precise results, which is crucial for the timely and effective management of infectious diseases. The ability to identify multiple pathogens in a single test enhances diagnostic efficiency and contributes to the growing adoption of syndromic multiplex diagnostics in clinical settings across Europe.
What restraints the growth of the syndromic multiplex diagnostic market?
"Limited reimbursement policies can impede the market growth”
The limited reimbursement policies across European countries restrain the syndromic multiplex diagnostic market. Varying availability and extent of reimbursement create inconsistencies and challenges for healthcare providers seeking reimbursement for these tests. The lack of clear and consistent reimbursement policies is a financial barrier for healthcare institutions, potentially impeding the widespread adoption of syndromic multiplex diagnostic tests.
Segmentation: Europe Syndromic Multiplex Diagnostic Market
The syndromic multiplex diagnostic market is segmented on the basis of product and services, infection type, disease, panels type and end user.
- On the basis of product and services, the syndromic multiplex diagnostic market is segmented into reagents and consumables, instruments, software and accessories and services
- On the basis of infection type, the syndromic multiplex diagnostic market is segmented into viral, bacterial, parasites and fungal
- On the basis of disease, the syndromic multiplex diagnostic market is segmented into respiratory infections, gastroenteritis, sexually transmitted infections, sepsis, meningitis and others.
- On the basis of panels type, the syndromic multiplex diagnostic market is segmented into respiratory panel, gi-enteric panel, sexually transmitted disease panel, blood-sepsis panel, meningitis panel and others
- On the basis of end user, the syndromic multiplex diagnostic market is segmented into clinical laboratories, hospitals, pharmaceutical and biotechnology companies, research institutes and others.
Regional Insights: Germany is expected to dominate the Europe Syndromic Multiplex Diagnostic Market
The syndromic multiplex diagnostic market in Germany is expected to grow due to the country's increasing prevalence of infectious diseases. The rising incidence of diseases such as respiratory infections, sexually transmitted infections, and gastrointestinal infections has created a higher demand for accurate and rapid diagnostics. Syndromic multiplex diagnostic solutions can simultaneously detect multiple pathogens and provide efficient and timely diagnosis, which is crucial for effective disease management. This trend is anticipated to drive the growth of the market in Germany.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/europe-syndromic-multiplex-diagnostic-market
Recent Developments in Europe Syndromic Multiplex Diagnostic Market
- In 2021, Xpert Xpress CoV-2/Flu/RSV plus, a quick molecular test for COVID-19, Flu A, FluB, and respiratory syncytial virus infections, was given a CE mark by Cepheid (a Danaher subsidiary). This has helped the business increase its presence.
- In 2020, In a statement, BD stated that the US Food and Drug Administration (FDA) had granted emergency use authorization (EUA) for their additional molecular diagnostic test for COVID-19. Additionally, the new test possessed an IVD Directive (98/79/EC) CE mark. The company's market credibility has improved since this announcement.
The Prominent Key Players Operating in the Europe Syndromic Multiplex Diagnostic Market Include:
- Seegene Inc. (South Korea)
- Luminex Corporation (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- BD (U.S.)
- Bio-Rad Laboratories, Inc. (U.S.)
- Danaher (U.S.)
- QIAGEN (Germany)
- Abbott (U.S.)
- Hologic, Inc. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
- Siemens Healthcare GmbH (Germany)
- Biocartis (Belgium)
- QuantuMDx Group Ltd. (U.K.)
- Bosch Healthcare Solutions GmbH (Germany)
- Prominex Inc. (U.S.)
- Curetis (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of Europe syndromic multiplex diagnostic market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Europe Syndromic Multiplex Diagnostic Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
