Europe Next Generation Sequencing (NGS) Market
The Europe next generation sequencing (NGS) market is expected to reach USD 9.98 billion by 2031 from USD 3.42 billion in 2023, growing at a CAGR of 15.0% in the forecast period of 2024 to 2031.
Market Segmentation
Europe Next Generation Sequencing (NGS) Market, By Product & Service (Consumables, Services, and Instruments), Technology (Sequencing by Synthesis (SBS), Sequencing by Ligation (SBL), and Others), Application (Pharmaceuticals Microbiology, Drug & Biomarker Discovery, Diagnostics, Precision Medicine, Agricultural & Animal Research, Food Pathogen Screening, and Others), End User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Hospitals & Clinics, Clinical Laboratories, Contract Research Organizations (CROS), and Others), Distribution Channel (Direct Tender, Retail Sales, and Others), Country (U.K., Germany, France, Spain, Italy, Belgium, Russia, Switzerland, Netherlands, Turkey, rest of Europe) - Industry Trends and Forecast to 2031
Overview of Europe Next Generation Sequencing (NGS) Market Dynamics
Drivers
• Increase in the adoption of genome-focused pharmacology
• Wide product portfolio offered by major players
• Use of next generation sequencing in drug development
• Increase trend towards personalized medication
Restraints
• High cost of installation and maintenance of equipment's in the laboratory
• Complexity during implementation of NGS in the clinical lab
Opportunities
• Strategic initiatives by the key market players
• Increasing advancement in NGS technology
• Increasing applications of NGS in clinical diagnostics
Challenges
• Lack of skilled professionals to perform NGS
• Data privacy and security
Market Players
The key market players operating in the Europe next generation sequencing (NGS) market are listed below: • Illumina, Inc.
• Thermo Fisher Scientific Inc.
• QIAGEN
• Merck KGaA
• Charles River Laboratories
• Revvity
• Promega Corporation.
• Agilent Technologies, Inc.
• Takara Bio Inc.
• Eurofins Scientific
• Hamilton Company
• BGI
• Azenta US, Inc.
• Beckman Coulter, Inc.
• Bio-Rad Laboratories, Inc.
• PacBio.
• Macrogen, Inc.
• Gilson Incorporated
• New England Biolabs
• Oxford Nanopore Technologies plc.
• LGC Biosearch Technologies
• PCR Biosystems
• ACT Genomics
• Quantabio
• DNASTAR
• NimaGen.
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