Europe’s Next-Generation Sequencing Market Expected to Exceed $6.40 Billion 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=31-07-2024

In the ever-evolving field of genomic technologies, Europe’s Next-Generation Sequencing (NGS) market is poised for significant growth, projected to reach $6.40 billion by 2030, with a robust CAGR of 14.8%. This analysis, provided by Meticulous Research®, delves into the key drivers, challenges, and opportunities shaping the market's future.

Key Drivers

Several factors are driving the expansion of Europe’s NGS market. The increasing prevalence of cancer and the broadening applications of NGS in cancer treatment and research are major contributors. Additionally, the declining costs of genome sequencing, technological advancements enhancing sequencing processes, and rising pharmaceutical R&D expenditures are propelling market growth. However, challenges such as the high costs associated with NGS systems and consumables, as well as competition from alternative technologies, persist.

Emerging Opportunities

Despite these challenges, the market offers numerous opportunities. The growing adoption of bioinformatics and genomic data management solutions, along with government support for large-scale genomic sequencing projects, presents promising growth avenues. Nevertheless, obstacles such as a shortage of skilled professionals and regulatory concerns in diagnostic testing remain.

Key Market Players

Leading companies in Europe’s NGS market include Thermo Fisher Scientific Inc., Illumina, Inc., Qiagen N.V., and F. Hoffmann-La Roche Ltd. These firms are at the forefront of innovation, driving the advancement of genomic technologies.

Market Segmentation and Outlook

The European NGS market is segmented by offering, sequencing type, technology, application, end user, and geography. Among these, consumables play a crucial role, with the targeted genome sequencing segment leading the way. Sequencing by synthesis technology holds the largest market share due to its accuracy and high throughput.

Geographic Insights

Germany emerges as the leading region in Europe’s NGS market, holding the largest share. This dominance is attributed to the growing number of sequencing projects, increasing applications in research, and heightened awareness of NGS-based tests.

As Europe’s NGS market continues to expand, stakeholders are well-positioned to capitalize on the opportunities through innovation and strategic collaborations, unlocking the full potential of this burgeoning industry.

 

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.

Contact Us:
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Contact Sales- +1-646-781-8004
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