European NGS Market on Track to $6.40 Billion Milestone by 2030

Meticulous Research®– a leading global market research company, published a research report titled "Europe NGS Market by Offering (Kits [Library Prep, QC, DNA Extraction], System), Type (Genome, Exome, Targeted), Application (Reproductive, Oncology, Infectious, CVD, Drug Discovery), Technology (SBS, Nanopore, Nanoball, SMRT Seq, DNB) – Forecast to 2030. "



Download Free Sample Report@ https://www.meticulousresearch.com/download-sample-report/cp_id=5744?utm_source=pdf&utm_medium=social&utm_campaign=product&utm_content=31-05-2024

In the ever-evolving landscape of genomic technologies, Europe's Next-Generation Sequencing (NGS) market is poised for significant growth, projected to soar to $6.40 billion by 2030 with a robust CAGR of 14.8%. This insight emerges from the latest findings by Meticulous Research®, shedding light on key drivers, challenges, and opportunities shaping the industry's trajectory.

Driving Forces

The ascent of Europe's NGS market finds momentum in several catalysts. A surge in cancer prevalence, coupled with the expanding applications of NGS in cancer treatment and research, fuels market expansion. Declining costs of genome sequencing, technological advancements enhancing sequencing procedures, and escalating pharmaceutical R&D expenditures further propel growth. However, challenges loom, including the high costs of NGS systems and consumables, along with the advent of alternative technologies.

Unlocking Opportunities

Amidst challenges, opportunities abound. The increasing adoption of bioinformatics and genomic data management solutions, alongside government initiatives supporting large-scale genomic sequencing projects, presents promising avenues for market players. Yet, hurdles persist, such as the shortage of skilled professionals and regulatory concerns in diagnostic testing.

Key Players

Navigating Europe's NGS terrain reveals a constellation of key players, including Thermo Fisher Scientific Inc., Illumina, Inc., Qiagen N.V., and F. Hoffmann-La Roche Ltd., among others. Their innovative endeavors drive industry evolution, shaping the future of genomic technologies.

Charting the Course: Europe NGS Market Outlook

The Europe NGS market's expansive canvas unfolds across multiple dimensions, segmented by offering, sequencing type, technology, application, end user, and geography. Among these, consumables emerge as a cornerstone, with the targeted genome sequencing segment assuming dominance. Meanwhile, sequencing by synthesis technology reigns supreme, buoyed by its accuracy and error-free throughput.

 

 

Geographic Dynamics

Geographically, Germany emerges as the epicenter of Europe's NGS market, commanding the largest share. Factors such as a burgeoning number of sequencing projects, growing applications in research, and heightened awareness of NGS-based tests underscore Germany's dominance.

As Europe's NGS market continues its ascent, stakeholders navigate a landscape ripe with opportunities, leveraging innovation and strategic collaborations to unlock the industry's full potential.

Top of Form

Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.

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