The Europe next generation sequencing market is expected to reach US$ 7,685.4 Mn in 2025 from US$ 1,633.4 Mn in 2017. The market is estimated to grow with a CAGR of 21.4% from 2018-2025.
The growth of the market is driven by the factors such as, technological advancements in sequencing and development in genomics. However, the market is likely to get impacted due to nonexistence of skilled professionals and high risks associated with genetic data in next generation sequencing in the region.
Advancement in the field of molecular biology has equally enhanced the sequencing procedures. Many industry players have come up with innovative NGS technology in last few years. The techniques such as cloning, gene sequencing, genome engineering has results into the generation of genetically modified organisms. The technological advancement as headed emergence of the New Bioeconomy, which is the replacement of petrochemical-based manufacturing and fermentation-based manufacturing products. For instance, in October 2018, Roche launched three new next-generation sequencing (NGS) AVENIO Tumor Tissue Analysis Kits, the AVENIO Tumor Tissue Targeted Kit, Expanded Kit and Surveillance Kit. The kits detect all four mutation classes in solid tumors, complement Roche’s NGS ctDNA kits for oncology research. Additionally, Pacific Biosciences with Sequel, and Oxford Nanopore with PromethION. Additionally, three advances NSG systems that dominate the market includes Roche GS FLX, Illumina HiSeq 2000 and AB SOLiD.
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NGS makes sequence based gene expression analysis a “digital” alternative to analog techniques. It also aids in quantifying RNA expression with the breadth of a microarray and the resolution of qPCR. Advancement in genome sequencing have added various solution for most of the industries such as, pharmaceutical and agriculture. These technological advancement are likely to grow the market in near future. Thus, technological advancements are expected to bring about innovative treatments in the market thereby driving the Europe next generation sequencing market growth over the forecast years.
Germany is expected to lead the market in the Europe region owing to increasing funds and growing number of cancer patients in the country. Moreover, increasing focus of on R&D is helps to drive the market growth in the forecast period. Therefore, considering the above mentioned factors the growth of the market in the country is likely to contribute largest share in the Europe region during the forecast period.
EUROPE NEXT GENERATION SEQUENCING – MARKET SEGMENTATION
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