Siemens Healthineers AG, Koninklijke Philips N.V. and Thermo Fisher Scientific Inc., are Dominating the Europe Cancer Diagnostics Market in 2019

Europe Cancer Diagnostics Market is expected to grow with the CAGR of 5.0% in the forecast period of 2020 to 2027. The years considered for study are as mentioned below.

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Europe cancer diagnostics market is a highly consolidated market, which includes specific number of key players as well as local players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in Europe cancer diagnostics market are introducing strong range of product portfolio. This helped companies to maximize the sales with enhanced product portfolio. For instance, in March 2020, Siemens Healthineers AG announced that their product AI-Pathway Companion Prostate Cancer has received CE mark approval, which is a digital companion, used in the clinical pathway of prostate cancer. After getting approval, the company commercialized their product in the European region.

Siemens Healthineers AG is dominating player in Europe cancer diagnostics market. The other key players existing in the market includes Koninklijke Philips N.V., GE Healthcare (A Subsidiary of GENERAL ELECTRIC), Abbott, Thermo Fisher Scientific Inc, Siemens Healthineers AG, BD, QIAGEN, Illumina, Inc., Agilent Technologies, Inc, BioGenex, Hologic, Inc., F. Hoffmann-La Roche Ltd, NeoGenomics Laboratories, Inc., BioNTech SE and bioMérieux SA, among others.

Siemens Healthineers AG

Siemens Healthineers AG, headquartered in Erlangen, Germany and was founded in 1896. The company offers technologies and services in the areas of diagnostic and therapeutic imaging, laboratory diagnostics and molecular medicine as well as digital health and enterprise services. The company has multiple business segments imaging, diagnostics, advanced therapies out of this diagnostics is the market focused segment. The company provides medical imaging, laboratory diagnostics, point-of-care testing, digital health solution, services and consultancy, clinical specialties & diseases, accessories and equipment, out of which clinical specialties & diseases is market focused solution category.

  • In March 2019, Siemens Healthineers AG and Braunschweig Municipal Hospital both has entered into the partnership to implement innovative technology for molecular diagnostics which is used to recognize genetic changes in cancer cells. After entering into this partnership, the company enhanced their credibility in the market.

The company has presence across the globe in Asia, Australia, EMEA and Americas region. In addition to it, the company also generates its revenue from the various subsidiary companies such as Siemens Healthcare SAS, (France), Dedicated2Imaging LLC, (U.S.), Acrorad Co., Ltd., (Japan), Siemens Healthcare d.o.o., (Croatia), Siemens Healthcare Nederland B.V., (The Netherlands) among others.

KONINKLIJKE PHILIPS N.V.   

KONINKLIJKE PHILIPS N.V. is headquartered in Amsterdam, The Netherlands was founded in 1891. The company engaged in offering diagnostic imaging, patient monitoring, image-guided therapy and health informatics and also solutions in consumer health and home care. The company has multiple business segments such as diagnosis & treatment businesses, personal health businesses, connected care & health, other in such segments diagnosis & treatment businesses is the market focused business segment. The company offers product categories which are for consumer, for professionals (healthcare) out of which for professionals (healthcare) is market focused category.

  • In December 2019, Koninklijke Philips N.V. entered into a strategic collaboration with Paige which is a leader in computational pathology. This collaboration mainly emphases to deliver clinical-grade AI applications to pathology laboratories which helped the pathologists to identify, illustrate and quantify cancer in tissue samples and make diagnoses more efficiently. This collaboration has heightened the credibility and business of the company.

The company has wide global presence across Europe, North America, South America, Asia-Pacific, Middle East and Africa and generates revenue from subsidiaries such as Philips GmbH (Germany), Philips Consumer Lifestyle B.V. (The Netherlands), Philips Medical Systems Nederland B.V. (The Netherlands), Philips Ultrasound, Inc. (U.S.) and Philips Oral Healthcare, LLC (U.S.), among others.

THERMO FISHER SCIENTIFIC INC.

Thermo Fisher Scientific Inc. is headquartered in Massachusetts, U.S. and was founded in year 1960. The company focuses on manufacturing analytical instruments, laboratory equipment, software, services, consumables, reagents and chemicals. The company operates in life sciences solutions, analytical instruments, specialty diagnostics, laboratory products & services business segments out of which specialty diagnostics is the market focused segment. The company offers wide range of application categories such as life sciences, industrial & applied sciences, clinical & diagnostics, lab solutions in which life sciences is market focused category.   

  • In September 2019, Thermo Fisher Scientific Inc. and Eli Lilly and Company has entered into an agreement to development of next-generation sequencing based Oncomine Dx Target Test which is used to identify the certain non-small cell lung cancer (NSCLC) and thyroid cancer patients. After this agreement, the company enhanced their credibility in the market.

The company has wide global presence across North America, Europe, Asia-Pacific with its various subsidiaries such as Thermo Fisher Scientific Africa Proprietary Ltd (South Africa), Fisher Clinical Services (Colombia) LLC (Delaware) and Thermo Foundation, Inc (U.S.), among others.