Europe Latent TB Detection Market
The Europe latent TB detection market includes the consolidated markets for Germany, France, the United Kingdom, Italy, Spain, and Rest of Europe. Europe occupies a significant position in the global latent TB detection market and is expected to register a robust growth rate over the forecast period. Germany dominated the market for Europe region. The German healthcare authorities and government is engaged in allowing the research institutes and market companies to conduct researches in the country. Such strategies are projected to accelerate the engagement of the country in the development and adoption of innovative techniques to combat respiratory diseases and breathing problems. Respiratory diseases possess a major disease burden in Germany leading to significant mortality rates. According to the World Health Organization (WHO) – Non-Communicable Diseases (NDC) Profile, 2018, chronic respiratory illness accounts for 6% of total mortality rates in Germany. The government of Germany in November 2016 announced its support for the development of new treatments and diagnostic procedures to combat tuberculosis (TB). The country’s Federal Ministry of Education and Research (BMBF) committed EUR 10 million over five years to TB Alliance that is facilitated by the KfW development bank. The increasing incidence of these diseases is likely to account for the hinder the growth of the latent TB detection market in the country. With the rising incidence of COVID-19 in the country, the need for emergency breathing equipment has also remarkably spiked up in the recent times. The market growth in the region is expected due to increasing prevalence of TB and breathing issues witnessed among people. Additionally, strategic action plans implemented by governments to tackle TB are likely to create lucrative environment for the growth of the Europe latent TB detection market.
In case of COVID-19, Europe is highly affected specially France followed by Spain, Italy, and Germany. The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Countries across Europe are witnessing a resurgence in COVID-19 cases after successfully mitigating outbreaks early in the year. Many countries are declaring more cases each day now than they were during the first wave earlier this year. Lockdowns are being reintroduced in UK, Spain and Italy, and Ireland, as per the European Centre for Disease Prevention and Control (ECDC). Due to the second wave of COVID-19 cases, the government of many countries is working towards scaling up testing capacity, which is restricting the growth of the market. The COVID-19 pandemic and associated response have impacted healthcare services globally, severely disrupting care for many communicable diseases such as tuberculosis TB. Laboratory diagnostic services, considered a cornerstone of any country's capacity to manage TB, are likely to be severely impacted by the COVID-19 pandemic due to re-allocation of resources. In England, compared with 2019, TB notifications decreased by 16.5% during April and by 37.3% during May 2020; the LTBI program was paused in response to COVID-19 in March.
Strategic insights for the Europe Latent TB Detection provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 304.39 Million |
| Market Size by 2027 | US$ 420.88 Million |
| Global CAGR (2020 - 2027) | 4.7% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Test
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Latent TB Detection refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Europe latent TB detection market is expected to grow from US$ 304.39 million in 2020 to US$ 420.88 million by 2027; it is estimated to grow at a CAGR of 4.7% from 2020 to 2027. Surging advancements in tuberculosis diagnosis is expected to escalate the market. Fluorescent stamping, antigen detection, ELISA, modified culture methods, and antigen preparations are among the advanced procedures practiced for the diagnosis of TB across the region. Manufacturers and researchers are consistently working toward finding new and viable solutions that are based on potent technologies to accurately diagnose TB. For instance, in July 2020, Cepheid, Inc. and The Foundation for Innovative New Diagnostics (FIND) introduced a new drug-resistant tuberculosis-profiling test that provides test results in 90 min. Moreover, the accessibility of blood-based diagnostics in the form of interferon γ release assays (IGRAs) have helped clinicians deliver reliable test results for diagnosing latent TB infection with high specificity and sensitivity. Thus, the consistent advancements in TB diagnosis is likely to be a prevalent trend in the Europe market during the coming years.
In terms of test, the interferon gamma released assay (IGRA) segment accounted for the largest share of the Europe latent TB detection market in 2019. In terms of end user, the hospitals segment held a larger market share of the Europe latent TB detection market in 2019.
A few major primary and secondary sources referred to for preparing this report on the Europe latent TB detection market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Abbott; ARKRAY, Inc.; BD; bioMerieux SA; F. HOFFMANN-LA ROCHE LTD.; Lionex GmbH; Oxford Immunotec Ltd; QIAGEN; and Serum Institute of India Pvt. Ltd.
The Europe Latent TB Detection Market is valued at US$ 304.39 Million in 2020, it is projected to reach US$ 420.88 Million by 2027.
As per our report Europe Latent TB Detection Market, the market size is valued at US$ 304.39 Million in 2020, projecting it to reach US$ 420.88 Million by 2027. This translates to a CAGR of approximately 4.7% during the forecast period.
The Europe Latent TB Detection Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Latent TB Detection Market report:
The Europe Latent TB Detection Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Latent TB Detection Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Latent TB Detection Market value chain can benefit from the information contained in a comprehensive market report.
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