Laboratory Developed Tests Industry is Growing Rapidly in Europe

According to the latest market research study published by P&S Intelligence, the size of the laboratory developed tests market was USD 10,375.8 million in 2023, which will power at a rate of 7.2% by the end of this decade, to reach USD 16,539.9 million by 2030. The industry growth has a lot to do with the surge in the occurrence of cancer and genetic ailments.

Furthermore, the development is credited to the growing requirement for in vitro laboratory-developed tests, currently inaccessible in the market for rare ailments, for example genetic tests and molecular tests; growing requirement for personalized medicines, and the fact that these tests do not need any regulatory approval.

On the basis of type, the molecular diagnostic category led the industry with 40% share in 2023, and it will also continue to lead in the future. This is because of the development in the elderly populace and an increase in the requirement for the early disease detection.

The increase in the occurrence of infectious and chronic diseases and the surge in the requirement to control healthcare spending will fuel the growth, by increasing the requirement for early disease diagnosis and steady monitoring. 

Furthermore, the rising acceptance of molecular diagnostics for examining biological markers in the genome and proteome and detecting cell expressions make the category the leader.

North America laboratory developed tests market is the leader of the pack, with about 40% share, in 2023, and it will grow at a robust rate in the future. This will be because of the advanced laboratory infra and obtainability of skilled workers in the region. 

Furthermore, the growing risk of ailments in the region, presence of reputable healthcare businesses, and robust support for the setup of novel R&D facilities bodes well for the industry.

Also, main players are developing new products and getting them accepted by the regulators, which drives the growth of the industry. For example, in August 2022, Biomerica Inc. introduced InFoods, an IBS test. The LDT is done in a CLIA certified, high-complexity lab facility.

There is a rapidly growing market in the European Region as a result of the existence of more than a few contract research organizations and participants of the market. 

Moreover, the development of the collaborations amid LDT providers and governments in the region is accountable for the progress of the industry. The advance of the industry is also because of the strong healthcare infra, advent of novel technologies, and increasing acceptance of precision medicine.

It is because of the increase in the incidence of cancer and other genetic disorders, the demand for lab developed tests is on the rise. This trend will continue like this in the years to come as well.

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Rapid Growth Predicted for Penetration Testing Market by 2030

In 2024, the worldwide penetration testing industry will produce revenue of USD 1,818.2 million, which is projected to experience a CAGR of 17.2% over the projection period, to attain USD 4,707.8 million by the end of the decade.

The development of the industry is because of the growing requirement for protection from cyberattacks in a progressively digital world. Because of this, industries and firms are at a high risk of being breached for data and other malicious purposes. Therefore, safety and privacy being a key concern for businesses is propelling the focus on penetration testing.

AI integration in penetration testing is enhancing the testing needed in industries. AI can do so by analyzing the different stratagems and the weak links of the system. AI can be incorporated in diagnosing vulnerabilities and in the vulnerability assessment and scanning phases of testing to aid in the comprehension of the results of the scans, provide additional information to the results, and eliminate unnecessary data.

AI helps keep attack/ intruder away from the system by ensuring that its access is not continuous, and its flexible nature provides continuous different approaches to the exploitation of the system. These abilities of AI aid in mimicking more elaborate and advanced attack scenarios, thus allowing IT departments to remain one step ahead of the miscreants by strengthening their frameworks with the right software employment.

Key Insights

In 2024, the on-premises category is leading the industry with 70% revenue because of the requirement for high-level security and direct control over the testing environment.

The key benefit of on-premises deployment is entire control over the system and complete data privacy.

Multinational businesses with sensitive data and economic resources prefer on-premises deployment because of data privacy and security concerns.

The cloud category is estimated to advance at a higher CAGR of 17.5% over the projection period because of the flexibility of public, private, and hybrid cloud modes.

In 2024, the large enterprises category leads the industry with 75% revenue because of their economic strength, industry knowledge, and requirement for robust IT infrastructure protection.

The SME category is estimated to advance at a higher CAGR of 17.4% during the projection period because of the acceptance of cloud-based deployment, which provides affordability and less hassle.

The vulnerability scanners category is the largest in the market with 40% revenue in 2024 and is the fastest-growing due to cost-effective, automated continuous monitoring and proactive security.

The gray box testing category holds the largest share and will be the fastest-growing with a 17.8% CAGR during 2024–2030 due to the surge in web application testing and high accuracy for complex applications.

The mobile application category is the fastest-growing with an 18.0% CAGR over this decade, driven by the BYOD policy, increased cyberattack risk, and targeted mobile banking services.

The BFSI category is the largest with a 35% share in 2024 due to the high risk of cyber fraud and regulatory requirements for regular penetration testing.

 North America holds the largest market share at around 50% due to the presence of many tech companies, adoption of innovative technologies, and increased cyberattack risk.

Asia-Pacific region is projected to grow at the highest CAGR of 17.6% due to the rapid adoption of cloud computing and mobile applications, with many SMEs availing penetration testing services due to increased cybercrime risk.

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Electronic Warfare Industry to Double by 2030 Amid Rising Global Defense Investments

According to the latest market research study published by P&S Intelligence, the size of the worldwide electronic warfare industry was projected to have stood at USD 12.5 billion in 2024, and it is estimated to attain USD 25.3 billion by the end of the decade, advancing at a CAGR of 12.4% over the forecast period. This can be credited to the expansion of defense abilities by many nations across the globe to counter potential threats.

The electromagnetic spectrum and cyberspace create a common electromagnetic environment known as the cyber-electromagnetic domain. This evolution in technology is a major trend as this domain is expected to be the centerpiece of future wars.

Diplomatic and strategic relations between different countries can break down any time, turning friends into foes. For this reason, almost all countries are expanding their military capabilities and adopting electronic warfare. Countries that share borders are at a perpetual threat from one another, regardless of how cordial the relations between them are. Thus, they are strengthening their weaponry with advanced systems.

Key Insights

 The airborne category is the largest, with an estimated 40% share in 2024, and is expected to grow at a CAGR of 12.8% from 2024 to 2030.

 Airborne electronic attack capabilities are crucial for gaining an advantage in the electromagnetic spectrum, including disabling, denying, and degrading enemy air defenses.

 Electronic decoys deployed in combat aircraft and missiles aid in deceiving enemy air defense systems.

 The electronic support category holds the largest share, 45% in 2024, and will witness the highest CAGR of 12.7% during the forecast period.

 Information from electronic support is essential for decision-making in attacking and protecting, detecting enemy communication networks and radars.

 Data gathered is used for electronic intelligence (ELINT), signal intelligence (SIGINT), and communications intelligence (COMINT).

 Signal jammers dominate the market with a 20% share in 2024 and are expected to be the fastest-growing category at a CAGR of 13.2% from 2024 to 2030.

 Jammers deceive, disrupt, or block enemy radars and communication systems by radiating interfering signals, allowing counter operations without detection.

 North America held the largest market share, around 50% in 2024, due to strong defense focus and high defense budget of the U.S. (USD 877 billion in 2022).

 U.S. invests heavily in equipping its military branches with advanced weapons and electronic warfare systems.

 Most major defense and weapons companies have a significant presence in the region.

 Asia-Pacific is the fastest-growing market, with a CAGR of 12.7% during 2024–2030.

 Several countries in the region are expanding their military capabilities with electronic warfare systems, given the geopolitical landscape characterized by sour relations.

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