Report : Europe Genomics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Technology (Sequencing, Microarray, Polymerase chain reaction (PCR), Nucleic Acid Extraction and Purification, and Others), Product & Service (Instruments/Systems, Consumables, and Services), Application (Diagnostics, Drug Discovery and Development, Precision/Personalized Medicine, Agriculture & Animal Research, and Others), End User (Research Centers, Hospitals and Clinics, Pharmaceutical & Biotechnology Companies, and Others), and Country
According to a new market research study of ‘Europe Genomics Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by technology, product and service, application, and end-user’ the Europe Genomics market is expected to reach US$ 15,448.81 million in 2027 from US$ 6,023.69 million in 2019. The market is estimated to grow with a CAGR of 12.8% from 2020-2027. The report provides trends prevailing in the Europe Genomics market and the factors driving market along with those that act as hindrances.
Based on the technology, the Europe the Genomics market, is segmented into sequencing, microarray, PCR, nucleic acid extraction and purification, and others. The sequencing segment held the largest share of the market in 2019, whereas the microarray segment is anticipated to register the highest CAGR in the market during the forecast period. The sequencing segment's growth is fuelled due to its growing applications in medical, biotechnology, agriculture, diagnostics, and DNA Sequencing. Also, increasing government genome sequencing programs, declining sequencing cost, and genomics studies. However, the microarray segments is expected to grow at the fastest CAGR owing to factors such as its use in the diagnosis of infectious and genetic diseases, drug discovery, pharmaco-genomic research, cancer diagnostics, and forensic applications. Additionally, the microarray technology is also used in immunology research such as the study of the relation between phenotype and gene expression, activation and differentiation of immune cells, regulation of immune responses, analysis of the molecular mechanisms of allergy, and immunological pharmacology.
The growth of this market is estimated to grow owing to key driving factors such as the extensive development in research and development activities concerning genomics market and the increase in government initiatives for growth in the genomics market. However, the market growth is likely to be hindered owing to the several challenges encountered regarding genomics market.
Illumina, Inc., Danaher, F. HOFFMANN-LA ROCHE LTD. are among the leading companies operating in the Europe Genomics market.
The report segments Europe Genomics Market as Follows:
- Polymerase Chain Reaction
- Nucleic Acid Extraction and Purification
By Product and Services
- Drug Discovery and Development
- Precision/Personalized Medicine
- Agriculture & Animal Research
By End User
- Research Centers
- Hospitals & Clinics
- Biotechnology & Pharmaceutical Companies
- Rest of Europe
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