The Europe companion diagnostics market is anticipated to register a CAGR of 13.06% over the forecasted years of 2022 to 2030. The top drivers propelling the regional market’s growth include the increasing focus on collaborative research and development towards advancing precision medicine technologies and the surging need for technologically advanced medical diagnostics.
The Europe companion diagnostics market growth evaluation encompasses an in-depth assessment of the United Kingdom, the Netherlands, Italy, France, Germany, Spain, Poland, and Rest of Europe. Nearly 99% of the population in France is covered by statutory health insurance (Assurance-Maladie), overseen by the Haut? Autorite de Sant? (HAS). Although the country’s national healthcare system is considered among the most considerate, France is aiming to minimize healthcare expenditure to control government spending, as well. Nevertheless, the market penetration rate of companion diagnostics is higher in the country on account of its broad reimbursement coverage.
In comparison, the majority of companion diagnostic testing in Spain is executed in the outpatient hospital site. Besides, the country’s hospital funding system primarily relies upon the global budget since neither national price reference coding nor reimbursement coding is available for companion diagnostics. While established hospitals in Spain commission companion diagnostics tests by virtue of public tendering, smaller hospitals organize tenders at a regional level. Therefore, these factors are anticipated to augment the companion diagnostics market growth in Europe over the estimated period.
Some of the leading firms operating in the market include Almac Group, Biocartis, Biomerieux, etc.
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