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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Advancements in Technology Augmenting Molecular Cytogenetics Market Growth

The global molecular cytogenetics market accumulated $1.8 billion revenue in 2017, and it is projected to attain a CAGR of 9.9% during the forecast period (2018–2023). The increasing popularity of pharmacogenomics in drug development and personalized disease management, advancements in cytogenetic techniques, and employment of these techniques in detecting chromosomal abnormalities are influencing the market growth. With the growing number of cytogenetic abnormalities, cases of cancer, and drugs becoming redundant in the treatment of diseases, a more robust technique is needed for determining the cause of and managing such conditions.

Molecular cytogenetics is the branch of genetics that deals with the study of chromosomal structure, its location and function within a cell, and the detection of genetic diseases. It utilizes techniques such as comparative genomic hybridization (CGH), fluorescence in situ hybridization (FISH), immunohistochemistry (IHC), and karyotyping in various applications of biology and medicine. The market is segmented by technology, application, end-user, geography, and offering. On the basis of technology, the market is subdivided into FISH, IHC, CGH, karyotyping, and others. The market for FISH is expected to grow at a CAGR of 10.1% during the forecast period.

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The CGH subdivision is further classified into standard CGH and array-based CGH, of which array-based CGH held 55.4% share in the molecular cytogenetics market in 2017. In the application segment, the market has genetic disorders, cancer, and personalized medicine as its categories. In 2017, cancer was the largest application of molecular cytogenetics, accumulating a market share of 41.9%. This is credited to the increasing prevalence of cancer and the growing focus of research groups on developing diagnostic tools for it and other genetic disorders.

The global molecular cytogenetics market is being driven by a number of factors, one being the rising cases of cancer. Cancer as a disease involves numerous mutations, which are either disease-specific or could vary from one individual to another. Molecular cytogenetics techniques such as single nucleotide polymorphism (SNP), CGH, FISH, and genomic expression profiling are not only helping researchers in identifying cancer-specific biomarkers, but are also helping doctors in providing better diagnosis, prognosis and treatment to patients.

Secondly, the advancements in molecular cytogenetic techniques have revolutionized the field of diagnostics. The automation of the cytogenetic analysis process has played a major role in the development of molecular cytogenetics by reducing manual involvement and increasing cost and time-effectiveness. Reduced manual handling of such processes has minimized the risk of errors, thus providing accurate results. It is further predicted to present the possibility of widening the range of molecular cytogenetic testing, hence increase the scope of the molecular cytogenetics market during the forecast period.

Thus, the market is set to grow during the forecast period owing to the advancements in technology in the field of biology and medicine. 

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