European STD diagnostics market is growing at a CAGR of around 8.4% during the forecast period. As per MedTech Europe, in 2017, there were more than 27,000 medical technology companies in Europe out of which 95% were SMEs. Most of the companies are based in Germany, UK, Italy, Switzerland, Spain, and France.  In Europe, around 10% of the GDP is spent on healthcare, out of which around 6.5% is dedicated to medical devices, that value is less than 1% of the GDP. Per capita expenditure on the medical device was around $220 in 2017 which directly affects the growth of the European STD diagnostics market during the forecast period. 

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The medical device market in Europe is growing with an average of 4.3% per annum over the past decade. Demand was very low in 2009 and 2011 which recovered significantly in a couple of years in the region. Europe is the major trader of medical devices with the US. 40.7% of the total exports were to the US whereas around 52.6% of the total medical device import was from the US. Europe had a positive medical device trade balance of nearly $22.4 billion in 2017. Thus, the growth in the overall devices market will influence the growth of the European STD diagnostics market.

The companies which are contributing significantly in the European STD diagnostics market include Abbott Laboratories, Becton, Dickinson and Co., Biocartis NV, Bio-Rad Laboratories, Inc., Danaher Corp., Eli Lilly and Co., F. Hoffmann-La Roche Ltd. among others. The players are considerably contributing to the market growth by the adoption of various growth strategies including new product launch, merger, and acquisition, collaborations with government, and technological advancements to stay competitive in the market.

Research Methodology

The market study of the European STD Diagnostics market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. European STD Diagnostics Market Research and Analysis by Disease Type
2. European STD Diagnostics Market Research and Analysis by Product
3. European STD Diagnostics Market Research and Analysis by End-user

The Report Covers

• Comprehensive research methodology of the European STD Diagnostics market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European STD Diagnostics market.
• Insights about market determinants which are stimulating the European STD Diagnostics market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.