DUBLIN–(BUSINESS WIRE)–The “Europe
Genomics Market to 2025 – Regional Analysis and Forecasts by Technology,
Product & Service, Application End User, and Country”
report has been added to ResearchAndMarkets.com’s
offering.
The Europe genomics market is expected to reach US$ 10.1 Bn in 2025 from
US$ 4.6 Bn in 2017. The market is estimated to grow with a CAGR of 10.6%
from 2018-2025.
The growth of the genomics market is primarily attributed to the rise in
the advancements for genome editing technologies and technological
developments in genomics. However, non-existence of skilled
professionals and risks associated with genetic data are likely to pose
a negative impact on the market growth. On the other hand, an extensive
use of genomics for medical applications is likely to have a positive
impact on the growth of the Europe genomics market in the coming years.
Advancement in the field of genomics has rapidly increasing. Many
industry players have come up with innovative technique and ideas 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. In
addition, the investments from public and private investors are rising
for the gene editing.
The rise in the investment are enabling technological developments and
standard biological parts. 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 tumours, complement
Roche’s NGS ctDNA kits for oncology research. For instance, in September
2016, GenScript launched a new CRISPR Synthetic RNA Service Technology
that offers fast DNA editing with fewer off-target effects. Advancement
in genomics 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 genome
editing market growth over the forecast years.
In 2017, the sequencing segment held a largest market share of 38.1% of
the genomics market, by technology. This segment is also expected to
dominate the market in 2025 owing to higher acceptance of the sequencing
procedures for the genomics. Furthermore, the microarray segment is
anticipated to witness the fastest growth rate during the forecast
period, 2018 to 2025.
In 2017, the consumables segment held a largest market share of 46.5% of
the genomics market, by product & service. This segment is also expected
to dominate the market in 2025 as the consumables provides accuracy,
speed, support across the globe for the systems used in the gene
synthesis and genomics. Furthermore, the services segment is anticipated
to witness the fastest growth rate during the forecast period, 2018 to
2025.
By application, the diagnostics segment is anticipated to grow at a CAGR
of 11.2% during the forecast period. The diagnostics helps benefit the
human to avoid the inheritance of the diseases in their children and
diagnostics provides clarity for more concise treatment. Moreover, the
segment held the largest market share of 32.2% for the application
segment in the genomics market and is likely to dominate the market in
coming forecast period.
In 2017, the research centers segment held a largest market share of the
genomics market, by end user. This segment is also expected to dominate
the market in 2025. However, the hospitals & clinics segment is
anticipated to witness the fastest growth rate of 11.1% during the
forecast period, 2017 to 2025. This higher growth rate of the segment
owing to the providing the references for further researches are likely
to propel the growth of the research centers segment in the coming
future.
Some of the major primary and secondary sources for genomics included in
the report are, Association for Responsible Research and Innovation in
Genomics (ARRIGE), Biotechnology Industry Research Assistance Council
(BIRAC), Defense Advanced Research Projects Agency (DARPA), Department
of Biotechnology (DBT), European Research Area (ERA), and among others.
Companies Mentioned
- Thermo Fisher Scientific Inc.
- Illumina Inc.
- Eurofins
- Qiagen
- Agilent Technologies
- BGI
- Bio-Rad Laboratories Inc.
- F. Hoffmann-La Roche AG
- Danaher
- GE Healthcare
For more information about this report visit https://www.researchandmarkets.com/r/tt1y3r
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Related
Topics: Genomics