The Europe Clinical Chemistry Analyzers Market would witness market growth of 5.0% CAGR during the forecast period (2023-2030).
As laboratories become increasingly automated, there is a rising need for integrated and automated clinical chemistry analyzers. High-throughput, fully automated equipment developed due to technological advancements allows labs to operate significantly more efficiently, perform various assays on a single platform, and reduce and eliminate mistakes. It also aids in conducting potentially hazardous manual testing processes, increases productivity, decreases testing time, improves sample handling, and makes up for ongoing staff shortages.
By evaluating the lipids, plasma glucose levels, electrolytes, and other profiles of numerous components, including blood, serum, plasma, and cerebrospinal fluid, among others, clinical chemistry analyzers play a crucial part in assessing such chronic illnesses. As a result, it is anticipated that the prevalence of chronic diseases will rise, increasing the need for clinical chemistry analyzers and driving market expansion.
According to recent estimates by WHO, overweight and obesity account for one of the main causes of disability and death in the European Region, killing more than 1.2 million people yearly, or more than 13% of all fatalities in the region. Obesity is believed to be a direct cause of at least 13 distinct forms of cancer and is anticipated to account for a minimum of 200000 new cancer cases each year in this region, with this number expected to increase further in the coming years. Additionally, obesity and overweight are the main causes of the 7% of years spent with a disability in this region. In regard to such issues, the EU has started numerous awareness drives.
For example, the "Healthier Together EU Non-Communicable Diseases Initiative" will run from 2022 to 2027 and aims to help EU member states find and implement effective policies and actions to reduce the burden of serious NCDs and improve the health and well-being of their citizens. The Initiative will help countries achieve Target 3.4 of the Sustainable Development Goals of the United Nations, which calls for a decrease in premature mortality from NCDs by one-third by 2030 as well as the promotion of mental health and general well-being. Thus, the region presents lucrative growth prospects for the market throughout the forecast period.
The Germany market dominated the Europe Clinical Chemistry Analyzers Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,076.6 million by 2030. The UK market is exhibiting a CAGR of 4.1% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.8% during (2023 - 2030).
Based on End User, the market is segmented into Hospitals & Clinics, Diagnostic Laboratories, Research Laboratories & Institutes, and Others. Based on Test Type, the market is segmented into Basic Metabolic Panel, Renal Profile, Liver Panel, Lipid Profile, Thyroid Function Panel, Electrolyte Panel, and Specialty Chemical Tests. Based on Product, the market is segmented into Reagents, Analyzers, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Clinical Chemistry Analyzers Market is Projected to reach USD 16.1 Billion by 2030, at a CAGR of 5.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include F. Hoffmann-La Roche Ltd., Danaher Corporation, Abbott Laboratories, Thermo Fisher Scientific, Inc., Siemens Healthineers AG (Siemens AG), Horiba Ltd., Sysmex Corporation, Hitachi, Ltd., EKF Diagnostics Holdings plc and Ortho-Clinical Diagnostics, Inc. (QuidelOrtho Corporation).
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