Dublin, Dec. 04, 2024 (GLOBE NEWSWIRE) -- The "Europe Next Generation Sequencing Market Report by Products, Application, Technology, End-users, Country and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The European Next Generation Sequencing (NGS) market is experiencing significant growth due to technological advancements in genomic research. The enhanced capabilities of sequencing technology have enabled faster, more accurate, and cost-effective analysis. These strides have led to accelerated discoveries in personalized medicine, cancer research, and the investigation of rare genetic disorders. As European research institutions and biotechnology firms continually leverage these cutting-edge technologies, the demand for NGS products and services is expected to rise and contribute to the overall market growth.
Growing Prevalence of Genetic Disorders Increases NGS Demand
With the rise in the incidence of various genetic disorders, the demand for Next Generation Sequencing is intensifying within Europe. NGS provides comprehensive and precise genetic data essential for the diagnosis and treatment of inherited cancers, rare diseases, and congenital conditions. The increasing demand for genetic testing and the shift towards personalized medicine are catalyzing the NGS market, as healthcare providers seek improved diagnostic tools to refine patient care.
NGS Advances Personalized Medicine in Europe
Personalized medicine, informed by a patient's genetic make-up, continues to be a significant growth driver for the European NGS market. Next-Generation Sequencing technologies offer essential genetic insights, facilitating the development of personalized medicine strategies and targeted therapies. These innovations are propelling healthcare facilities to invest in NGS solutions, thereby fueling the market’s growth. This is evidenced by greater precision in diagnosis and treatment, which benefits both patients and healthcare providers alike.
Germany Dominates European NGS Market
Germany is poised to be a leader in the NGS market, as both public and private sector entities widely adopt genomics. The high-throughput capabilities of NGS technologies are highly advantageous for cancer research, genetic disease studies, and personalized medicine. This adoption is further supported by government grants and subsidies for genomic research. The German market's robust growth is anticipated to continue, with the country playing a pivotal role in innovating healthcare services and advancing personalized treatments.
Top Companies Strengthen European NGS Sector
Prominent industry players, including Illumina, Thermo Fisher Scientific, Pacific Biosciences of California, QIAGEN N.V, Roche, and others, are making strides in the NGS space. Recent developments in the sector include the launch of permanent reimbursement for NGS in oncology in Belgium and significant investments by Almac Diagnostic Services to expand NGS capabilities. Innovations such as the integration of the latest sequencing chemistry further demonstrate these companies' dedication to advancing the NGS market in Europe.
The Next Generation Sequencing market is a testament to the robust and collaborative efforts between genomic research, technological advancements, and healthcare applications. The symbiotic relationship between these domains is shaping a promising future for NGS in Europe and globally.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $4.58 Billion |
| Forecasted Market Value (USD) by 2032 | $12.95 Billion |
| Compound Annual Growth Rate | 12.2% |
| Regions Covered | Europe |
Companies Featured
- Illumina
- Thermo Fisher Scientific
- Pacific Biosciences of California
- QIAGEN N.V
- Roche
- Bio-Rad Laboratories, Inc.
- Takara Bio Inc.
- Hamilton Company
- Geneious,
- BioMérieux SA.
For more information about this report visit https://www.researchandmarkets.com/r/masdp5
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