Some of the key players in Europe molecular diagnostics market are Agilent Technologies, Inc., Becton, Dickinson and Company, Tecan Group Ltd., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., QIAGEN N.V., Danaher Corporation, Eppendorf AG, PerkinElmer, Inc., and Thermo Fisher Scientific, Inc. Of them, Bio-Rad Laboratories and Thermo Fishcer Scientific accounted for almost half the share in the market in 2016.
As per a report by Transparency Market Research, the Europe molecular diagnostics market will likely rise at a steady CAGR of 6.6% during the period between 2017 and 2025. At this rate, the market will become worth US$769.0 mn by 2025-end from US$395.7 mn in 2016.
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Increasing Investments in Healthcare by Governments Driving Europe Market
The market for molecular diagnostics in Europe has seen steady progress so far on the back of an ever-increasing healthcare expenditure. Besides, rising awareness about different chronic diseases and disorders, abundant availability of diagnostic centers, and increasing affordability of diagnostics are also serving to catalyze growth in the market. Rising support from the government and growing investments in research and development of advanced diagnostics are also positively influencing the market.
Shortage of Skilled Personnel Hampering Market Growth
Posing a hindrance to the molecular diagnostics market in Europe is the shortage of skilled labor, which makes it tough for companies to control costs. Further, the constant thrust on new and improved technologies is also predicted to thwart market growth. Take, for example, the surging popularity of next generation sequencing (NGS) which is snipping away the market share of real-time PCR systems. However, the demand for non-contact dispensing technologies stoking sales of liquid dispensing systems, will likely help the market overcome the challenge.
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