European COVID-19 diagnostics industry will see a considerable decline of 28.2% during the forecast period. Several projects for the development of COVID-19, diagnosis, and treatment were reported over the last few months in Europe. Additionally, on 22 July 2020, the European Commission declared nearly $117.8 million to co-fund a call for supporting R&D of coronavirus vaccines, and to develop diagnostic tests, treatments, and other prevention tools. This call was revealed by the Coalition for Epidemic Preparedness Innovations and will get the funding as part of the Commission pledge for the investment of nearly $1.2 billion from Horizon 2020 into the EU research and innovation programs.
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As a part of this program, 18 new research projects that were short-listed for financing announced by the European Commission on 6th March 2020. These projects include improving epidemiology and public health, including preparedness and response to outbreaks, discovering new treatments, rapid point-of-care diagnostic tests, and the development of new vaccines. The rapid point-of-care testing funding is intended to improve efforts targeted to support front-line health workers to make the diagnosis more accurately and more quickly, which will decrease the risk of further spread of the COVID-19. Total EU funding for COVID-19 diagnostics was nearly $7.5 million, under 18 Horizon 2020 research projects on coronavirus (March 2020).
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Key questions addressed by the report
• What is the market growth rate during the forecast period?
• Which segment/region dominates the market in the base year?
• Which segment/region will project the fastest growth in the market during the forecast period?
• How COVID-19 will impact the market growth in 2020 and coming years?
o Recovery Timeline
o Deviation from pre-COVID-19
o Most affected region/segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
European COVID-19 Diagnostics Market – Segmentation
• Reagents & Kits
• Laboratory Testing Services
By Technology Type
• PCR Test
• Antigen Test
o Chromatographic Immunoassay
o Fluorescent Immunoassay
o Chemiluminescent Immunoassay
• Serology Test
o Enzyme-Linked Immunosorbent Assay (ELISA)
o Chemiluminescent Immunoassay
• Rapid/ PoC Test
By Sample Type
• Oropharyngeal & Nasopharyngeal Swabs
• Others (Sperm)
• Diagnostic Centers & Clinics
• Research Institutes
European COVID-19 Diagnostics Market – Segmentation by Geography
• Rest of Europe
• Altona Diagnostics GmbH
• BioMérieux S.A.
• Edinburgh Genetics, Ltd.
• ERBA Mannheim
• F. Hoffmann-La Roche AG
• Molecular Biology Systems
• Mologic, Ltd.
• NOWDiagnostics, Inc.
• Surescreen Diagnostics Ltd.
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