The Europe NGS Market size is estimated to be USD 1.54 billion by 2023 and is expected to reach USD 3.21 billion by 2028, registering a CAGR of 15.17% during the forecast period.
Next-generation sequencing has been commonly used in the medical field to determine the patient's genetic composition. However, for has also been used to modify plants and animals for the necessary physical and genetic improvements. In addition, NGS also enables biomarker discovery and genetic disease identification. Therefore, the NGS is used to produce precision medicine for the patient's genetic data to provide personalized care.
Factors including growing usage of personalized medicine, increasing adoption of NGS in bioinformatics, pre-sequencing solutions, and healthcare cloud computing, growing aging population, YOY growth in the prevalence of infectious diseases, and chronic diseases such as cancer in the European region are propelling the Europe NGS market. In addition, the anticipated decrease in the prices of genome sequencing due to the development of rapid, high-capacity whole genome sequencers by key players is expected to show an optimistic effect on market penetration rates over a few years. Furthermore, the extensive use of genomics for medical purposes has significantly affected the growth of the NGS market in Europe during the forecast period. Genomics consists of technologies like next-generation sequencing (NGS), genome editing, gene synthesis, and more. Furthermore, rapid and cost-effective sequencing, increasing NGS choice over other platforms, and increasing hereditary disease prevalence further promote the NGS market in Europe.
In addition, genomics in drug development and discovery, the increasing incidence of cancer and other malignant diseases, and collaborations between market participants, R&D centers, and universities complement production favoring the growth rate of the European NGS market.
However, the storage and management of data generated by sequencing and its interpretation, high reliability on grants & funding from the government, and fall in capital expenditure from academic institutions hamper the European NGS market.
This research report on the European NGS Market has been segmented and sub-segmented into the following categories:
Regionally, the European next-generation sequencing market is one of the prominent regional markets in the global market. An increasing number of transfusion procedures is expected to be the key driver to the growth of the European NGS market. In addition, the increase in complex procedures requiring large blood samples (chemotherapy, heart surgery, organ transplants, etc.) can also have a positive impact on the market, and the low cost of screening is increasing the widespread use and spread of chronic infectious diseases, especially in developing countries. It is mainly used to detect HIV, HCV, and HBV and is recommended for routine use in Europe.
The German NGS market is expected to gain the largest market share by 2027 in the E.U. regional market. According to the World Health Organization, blood donations increased from 3.4% in 2008 to 3.6% in 2010. About 2 million people in Germany donate blood regularly. NAT is voluntarily implemented in France to increase the safety of non-enveloped viruses such as hepatitis A (HAV) and parvovirus B19 (B19V).
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the Europe Next Generation Sequencing (NGS) Market are Illumina Incorporated, Thermo Fischer Scientific, Life Sciences (Roche), Pacific Biosciences, Life Technologies Corp. (Thermo Fischer Scientific), Macrogen Inc., Partek Inc., Genomatix Software GmbH, Perkin Elmer Inc., GATC Biotech AG, Agilent Technologies Inc., Biomatters Ltd., CLC Bio (Qiagen), BGI (Beijing Genomics Institute), Oxford Nanopore Technologies Ltd., Pacific Biosciences, DNASTAR Inc., Knome Inc., Illumina Inc., and Qiagen N.V.
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