The Gene Expression Analysis Market size in Europe is forecasted to grow at a CAGR of 9.1% during the forecast period 2022 to 2027. This market was worth USD 1.28 Billion in 2022 and is expected to worth USD 1.97 Billion by 2027.
Gene expression analysis aids in the production of a gene product by gathering data from a gene. In applications such as pharmacogenomics, diagnostics, biomarkers, and toxicity, this technique will demonstrate its wide variety of benefits. Gene expression is the process of turning DNA pairs into functional gene products like proteins or RNA. The initial stage in this study is to convert DNA to RNA, which is then translated into proteins.
The gene expression analysis market is booming due to rising cancer incidence and expanding genomics application areas. In addition, increased healthcare costs, particularly in rural areas, help to drive market expansion.
The use of tailored medications in the treatment of sickness allows for changes in diagnostic and treatment processes based on the individual patient's demands, which boasts the region's market growth. The gene expression analysis market is expected to develop due to a wide range of pharmacogenomics, biomarking, toxicology, and diagnostic applications.
Tailored medicine is becoming more well-known as the incidence of genetic illnesses rises, as does public awareness of personalized treatment. Furthermore, the gene expression analysis business is expanding as the cost of sequencing decreases. Some variables anticipated to propel the industry include expanding a large number of genetic tests in pharmaceuticals and biomarker discovery.
NGS can be used to diagnose diseases like cancer, hematological disorders, neurology, psychiatry, dysmorphology, vision and hearing impairment, cardiology, and pharmacogenomics. Thus, this element has the potential to propel the gene expression analysis market forward.
The lack of experienced employees required to execute gene tests and the high cost of gene expression analysis devices limit the region's market growth—furthermore, installing and maintaining the device increases, impeding market expansion in the area.
This research report on the Europe Gene Expression Analysis Market has been segmented and sub-segmented into the following categories:
Geographically, the European gene expression analysis market is predicted to be the second-largest regional market, with a significant market share during the forecast period. Factors such as the growing interest of leading firms in European markets have boosted the market growth. The rising adoption of contemporary technologies, on the other hand, is supporting market development in this region. Furthermore, key players in the area are implementing various strategies to gain a competitive advantage over competitive over the marketplace. For instance, example, F. Hoffmann-La Roche Ltd has announced that the US FDA has approved its multiplex V and Factor II estimate for use on Cobas 4800 systems, which perform real-time PCR analysis for mid-to high-volume labs.
The Germany gene expression analysis market dominates the global market in the region. The market growth is driven by the presence of well-developed healthcare services and genetically modified crops. Also, Technological advancements such as Next Generation Sequencing (NGS), in combination with improving genomic databases, a high rate of GEA progress, and a growing focus in research and development toward gene therapy, are expected to drive the GEA market expansion in the country over the next few years.
The UK gene expression analysis market is projected to have the fastest growth in the market owing to health concerns and cost reductions in the biotechnology and biochemical sectors. Moreover, the government is investing heavily in genomics research and development and expanding and promoting personalized treatment, bolstering the industry even further.
KEY MARKET PLAYERS
Prominent Companies leading the Europe Gene Expression Analysis Market Profiled in the Report are Thermo Fisher Scientific, Inc., Agilent Technologies, Life Technologies, GE Healthcare, Illumina, QIAGEN N.V., Roche, Oxford Gene Technology, PerkinElmer, Affymetrix, Inc., Bio-Rad Laboratories, and Luminex Corporation.
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