Europe Genetic Testing Market Size, Share & Trends Analysis Report By Product Type (Instrument, Consumables and Accessories, Software and Service), By Type (Diagnostic Imaging Tests, Biopsy and Cytology Tests, Tumor Biomarkers, Other Diagnostic Types), By Technology (Instrument Based,, Platform-Based, Tumor Biomarker Tests), By Distribution Channel (Direct tenders, Retail Sales), By Application (Breast Cancer, Lung Cancer, Cervical Cancer, Kidney Cancer, Liver Cancer, Pancreatic Cancer, Ovarian Cancer, Other Applications), By End-User (Hospital, Oncology Speciality Clinics, Diagnostic Laboratories, Cancer Research Institutes, Others) and By Country(U.K., Germany, France, Spain, Italy, Russia, Nordic, Benelux, Rest of Europ) Forecasts, 2022-2030

Market Overview

A genetic test is a type of medical testing that is carried out with the purpose of determining whether or not there have been any alterations to the chromosomal structure or the DNA sequence. Either the gene included within the DNA sequence can be directly recognised through the sequencing process or indirectly identified through a variety of methods of genetic testing. The use of genetic testing in the diagnosis of rare diseases and the practise of customised medicine is expanding at a rapid rate.

The pandemic caused by COVID-19 has had a substantial influence on the expansion of the market for genetic testing during the course of the crisis. According to the study report that was published in Genetics in Medicine 2020, all clinical genetic testing was halted, and consultations and counselling based on telemedicine were implemented worldwide. According to the findings of this research, a total of 156 clinical genetics and cancer patients as well as 112 pregnant patients were assessed over the course of one month at the Columbia University Irving Medical Center (CUIMC). In order to stop the spread of the SARS-CoV2 virus, the vast majority of genetic testing businesses have begun using virtualization, and many of them also provide home testing kits and collect samples from patients in their own homes. However, according to the research article that was published in the Journal of Medical Genetics 2020, there was a hindrance reported in accessing genetic testing blood draws. As a consequence of this hindrance, the genetic testing was tremendously impacted, wherein a reduction in genetic testing from 97.7% to 74.1% was observed during the period in which virtual care was provided. As a result, it is anticipated that COVID-19 will have both a direct and an indirect influence on the market for genetic testing during the current crisis time.

In addition, the growing number of technology improvements that have occurred over the course of the previous few years have made various prospects for market development available. The rapid expansion of the market is being aided by a number of factors, including an increase in the incidence of chronic illnesses and the creation of specialised testing kits for specialised treatment areas. According to the World Population Prospects 2020 Highlights published by the United Nations, there will be more than 1.5 billion people over the age of 65 years by the year 2050, which is an increase from 727 million in the year 2020. Because of the rising number of elderly people and their increased risk of developing chronic illnesses, there has been an uptick in the need for preventative diagnostics, in particular genetic testing.

The increased attention that governments of various countries are placing on regulating genetic testing and raising knowledge about them has effectively resulted in a speedier acceptance of these tests all around the world. Increased spending on research and development, along with large firms' already established footholds in the market, has made it difficult for new companies to break into the industry. Maintaining a competitive advantage in the market requires a number of critical characteristics to be satisfied, including innovation in product design, improvement in quality, and strong distribution relationships. For instance, in August 2020, Ricoh Company Ltd. and DNA Chip Research Inc. produced RICOH Standard DNA Series EGFR mutation Type001, which is a reference DNA plate to be utilised in the blood-based genetic testing in the diagnosis of lung cancer. This plate is intended to be used by many companies.

Europe: 7470 million USD (2030), CAGR: 11.95%

Market Dynamics

Drivers

In the European market for genetic testing, it is anticipated that the diagnostics testing sector will occupy a major part of the market. A rise in people's awareness of health issues, an uptick in the number of people dying from cancer and other genetic diseases in Europe, and an increase in the number of new diagnostic genetic testing products hitting the market in Europe are all factors that are contributing to the expansion of this market segment. In addition, businesses in Europe, such as Centogene and NIMGenetics, provide a comprehensive selection of genetic testing services, which contributes to the further acceleration of the market's expansion.

For example, according to Globocan 2020, the number of new cancer cases in Europe in 2020 is expected to be 4,398,443, and the number of cancer-related fatalities expected to occur in Europe in 2020 is estimated to be 1,955,231. It is anticipated that the increasing incidence and death rates caused by cancers will lead to a rise in diagnostic testing for cancers in Europe, which would in turn drive the expansion of this category.

In addition, an increase in the number of products that are introduced for diagnostic testing will result in an increase in the adoption of these products, which is predicted to boost the expansion of this category. For instance, in February 2021, in Europe, Becton, Dickinson and Company introduced a new COVID-19 blood test. This test can assist hospitals in identifying arriving patients who are more likely to require intensive care with a ventilator and who are at a higher risk of dying from the disease. In addition, the test can assist hospitals in determining which patients are more likely to require intensive care with a ventilator.

The existence of well-known market enterprises engaged in genetic testing as well as a regulatory environment that is favourable both contribute to the expansion of the sector. In addition, an increase in the incidence of genetic illnesses as well as an improvement in patient awareness for early disease detection will fuel market demand. The technique of using genetic testing to identify hereditary cancer syndromes has undergone significant transformation in recent years. As a consequence of this, the need for Europe genetic testing market as a method of identifying cancer risks is the primary factor driving the expansion of the market in developed nations such as Germany, France, and others.

Restraints

On the other hand, genomic data privacy concerns, ethical and sociological challenges, and a lack of regulatory standards are some of the factors that are anticipated to impede the expansion of the genetic testing business in Europe. Concerns regarding the consistency of genetic testing-based diagnoses and stringent regulatory criteria for product approvals are projected to be additional factors that impede the growth of the Europe genetic testing market throughout the course of the time covered by the projection.

The particular obstacles to genetic testing that are investigated include a person's lack of knowledge, health insurance issues, fears that testing may be misused, worries about privacy and confidentiality, and mistrust in their primary care physician.

Regional Analysis

Due to the high prevalence of cancer among the population as well as the broad availability of diagnostic systems and consumables in Germany, Germany has the greatest market share. This is because Germany has the most options available to them.

The news articles that were published in January 2020 state that the Europe genetic testing market is exploding in the countries of Europe. The National Health Service in the United Kingdom is now being expanded to include genetic testing thanks to the United Kingdom's Genomic Medicine Service. In a similar vein, the Danes, by way of their National Genome Center, are striving toward a vision of customised treatment for the whole population. Genomic Medicine 2025, on the other hand, aims to integrate France's healthcare system with the country's scientific and business communities. It is consequently anticipated that the increasing efforts coming from the United Kingdom regarding genetic testing in Europe will drive the expansion of this region in the genetic testing market over the course of the projected period.

Whole genome sequencing (WGS) has been demonstrated to find new diagnoses for people with the greatest spectrum of rare diseases explored to date, as stated in the study that was published by the University of Manchester in November 2021. This could have enormous repercussions for the National Health Service. Furthermore, the study found that WGS was able to find new diagnoses for people with the greatest spectrum of rare diseases. It is anticipated that the increasing advantages of genetic testing in the United Kingdom for the detection of rare diseases will lead to an increased adoption of genetic testing in this area. As a result, the expansion of this market in the United Kingdom is anticipated to be driven by this growth.

It is anticipated that the Europe genetic testing market would expand at a healthy rate over the period covered by the projection. Despite this, the increasing prevalence of chronic illnesses along with the growing assistance from government organisations are important factors that are helping to level out the growth of the market.

According to estimates, the market for genetic testing in Germany is now expanding at a rate that is second only to that of France. The introduction of new laws regarding reimbursement by the government is contributing to an increase in the demand within this industry. The effort was made by Germany with the assistance of an insurance programme run by the German government in the nation. The availability of qualified researchers in laboratories to work on the development of novel approaches is another factor that is fully responsible for slowing the growth pace of the industry.

It is anticipated that there will be healthy growth in the market for genetic testing in Italy in the years to come as a result of the rising prevalence of infectious illnesses. In addition, there is a growing trend toward the promotion of high-quality treatment services, which is helping to drive demand in the market.

It is anticipated that the market for genetic testing in Spain will expand at a rate that is promising. Awareness and growing levels of disposable income in metropolitan areas are major elements that will contribute to market expansion.

Additionally, the particular market affecting elements and changes in regulation in the market locally that effect both the present and future trends of the market are included in the portion of the study that is dedicated to each nation. Some of the data points that are utilised to anticipate the market situation for different nations include an examination of the upstream and downstream value chain, technological trends, porter's five forces analysis, and case studies. When providing a forecast analysis of country data, other factors that are taken into consideration include the presence and availability of global brands as well as the challenges those brands face as a result of large or scarce competition from local and domestic brands, as well as the impact of domestic tariffs and trade routes.

Segmental Analysis

The market for cancer testing may be broken down into many submarkets based on factors such as product, technology, application, end-user, and distribution channel. Because of the growth among these segments, you will be able to analyse relatively slow-moving growth segments in various industries. Additionally, you will be able to give users a valuable market overview and market insights that will assist them in making strategic decisions regarding the identification of core market applications.

Impact of covid-19

COVID Impact: During COVID-19, supply chain interruptions hampered the trade, causing a lack of raw materials for producers and a delay in delivering finished items in the form of blind bolts to customers. As official prohibitions around the world have been lifted, demand for blind bolts has already begun to rebound to pre-pandemic levels.

Recent Developments

As part of its industry-leading Anchored Multiplex PCR chemistry in-vitro diagnostic (IVD) product line, Invitae, a pioneering medical genetics firm, introduced FusionPlex Dx and LiquidPlex Dx in Europe in February 2022. These two assays fall under the category of in-vitro diagnostics (IVD).

Individuals living in Europe who have been diagnosed with skeletal dysplasia will be eligible to participate in a sponsored testing programme that will be initiated by Blueprint Genetics and BioMarin in October 2021.