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. "
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According to this latest publication from Meticulous Research, the Europe NGS market is expected to register a CAGR of 14.8% to reach $6.40 billion by 2030. The Europe NGS Market growth is attributed to factors such as the rising cancer prevalence and increasing application of NGS in cancer treatment and research, the declining costs of genome sequencing, technological advancements in sequencing procedures, and increasing pharmaceutical R&D expenditures. However, the high costs of NGS systems and consumables and the availability of alternative technologies restrain the market's growth.
Additionally, the increasing applications of NGS, the rising adoption of bioinformatics and genomic data management solutions, and government initiatives supporting large-scale genomic sequencing projects are expected to offer significant market growth opportunities. However, the lack of skilled professionals and regulatory and standardization concerns in diagnostic testing pose a significant challenge to the market's growth.
Key Players
The key players profiled in the Europe NGS market report are Thermo Fisher Scientific Inc. (U.S.), Illumina, Inc. (U.S.), Qiagen N.V. (Netherlands), F. Hoffmann-La Roche Ltd (Switzerland), PerkinElmer, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Pacific Biosciences of California Inc. (U.S.), Danaher Corporation (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), and 10X Genomics, Inc. (U.S.).
Europe NGS Market: Future Outlook
The Europe NGS market is segmented into Offering (Consumables [Sample Preparation Consumables {DNA Extraction and Amplification, Library Preparation & Target Enrichment, Quality Control}, Other Consumables], NGS Platforms/Instruments, Software, Services), Sequencing Type (Targeted Genome Sequencing, Whole Genome Sequencing, Whole Exome Sequencing, Other Sequencing Types), Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing (SMRT), Nanopore Sequencing, DNA Nanoball Sequencing), Applications (Clinical Applications [Reproductive Health, Oncology, Infectious Diseases, Other Clinical Applications], Research and Other Applications [Drug Discovery, Agriculture & Animal Research, Other Research Applications), End User (Hospitals and Diagnostic Laboratories, Pharmaceutical & Biotechnology Companies, Academic Institutes & Research Centers, Other End Users), and Geography.
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Among the offerings, in 2023, the consumables segment is expected to account for the largest share of the Europe NGS market. The large market share of this segment is attributed to the recurring use of consumables, rising demand for NGS-based diagnostic tests, and increasing applications of NGS in oncology, reproductive health diagnosis, and drug discovery.
Among the sequencing types, in 2023, the targeted genome sequencing segment is expected to account for the largest share of the Europe NGS market. Targeted genome sequencing eliminates the generation of superfluous and irrelevant genetic variation, which can distract from actual clinical interpretation. Furthermore, targeted sequencing reduces the cost of sequencing significantly as compared to Whole Genome Sequencing (WGS) and Whole Exome Sequencing (WES) when sequencing of a large population is required. These factors contribute to the large market share of this segment in the Europe NGS market.
Among the technologies, in 2023, the sequencing by synthesis segment is expected to account for the largest share of the Europe NGS market. The large share of this segment is primarily attributed to the high accuracy of this technology in DNA sequencing, its high yield of error-free throughput, and the increasing incorporation of this technology in NGS products.
Among the applications, in 2023, the research and other applications segment is expected to account for the larger share of the Europe NGS market. The large market share of this segment is attributed to the prevalence of genetic disorders, the increasing adoption of sequencing-based tests in laboratories, the growing demand for personalized medicines, and the increasing NGS-based research.
Among the end users, in 2023, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the Europe NGS market. The large market share of this segment is attributed to factors such as the increasing R&D spending by pharmaceutical & biotechnology companies and the rising incidence of chronic diseases, hence driving the adoption of NGS by pharmaceutical & biotechnology companies.
Geographic Review
This research report provides a comprehensive analysis of the market in Germany, France, the U.K., Italy, Spain, Switzerland, and the Rest of Europe. In 2023, Germany is expected to account for the largest share of the Europe NGS market. The largest share of this market is attributed to factors such as the increasing number of sequencing projects and centers, growing applications of NGS-based research, rising awareness of NGS-based tests, and increasing cancer prevalence and genetic diseases.
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Key questions answered in the report:
• Which are the high-growth market segments in terms of the offering, sequencing type, technology, application, end user, and country?
• What was the historical market size for NGS in Europe?
• What are the market forecasts and estimates for the period 2023–2030?
• What are the major drivers, restraints, challenges, opportunities, and trends in the Europe NGS market?
• Who are the major players in the Europe NGS market?
• What is the competitive landscape like, and who are the market leaders in the Europe NGS market?
• What are the recent developments in the Europe NGS market?
• What are the different strategies adopted by the major players in the Europe NGS market?
• What are the geographical trends and high-growth countries?
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