An increase in the prevalence of cardiovascular diseases and rising incidence of diabetes in Europe are the major factors that are driving the growth of the Immunochemistry Market in this region. According to the report by Business Market Insights, Asia Pacific Immunochemistry Equipment market is expected to reach US$ 795.05 Million by 2027 with CAGR of 7.8%.
The healthcare industry is undergoing rapid transformations since a few years now. Various technological improvements have been witnessed in the segments including diagnosis and treatment options for chronic diseases. The increase in incidences of chronic illnesses and the increasing ageing population are the primary factors fuelling the growth of healthcare segment.
The Asia Pacific Immunochemistry Equipment market is growing along with the healthcare industry, but the market is likely to slow down its growth due to the shortage of skilled professionals, suggests the Business Market Insights report.
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For Asia Pacific Immunochemistry Equipment market, Business Market Insights researchers observed that there has been an increase in the healthcare expenditure in the European countries during the past few years. In this region, Germany has a history of manufacturing high diagnostic imaging technologies, precision medical instruments and others. As per Eurostat in 2016, healthcare expenditure in Germany was EUR 352 billion. Medical technologies are the priority of Healthcare/Life Sciences (HCT) industry. Whereas the healthcare expenditure of France was recorded as the second highest which was around EUR 257 billion, followed by the United Kingdom EUR 234 billion.
These factors are expected to offer broad growth opportunities in the healthcare industry and this is expected to cause the demand for immunochemistry assays in the market.
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EUROPE IMMUNOHISTOCHEMISTRY – MARKET SEGMENTATION
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