The Europe Genomics Market would witness market growth of 17.0% CAGR during the forecast period (2021-2027).
Clinicians of all specialties can use genomic technologies to diagnose patients with high-risk genetic flaws that cause disease. Genomic technologies are rapidly being employed to better understand the role of rare and common genetic variables in the development of common diseases like hypertension, diabetes, and cancer.
Prenatal genetic screening systems are expected to increase rapidly in the near future. This is due to the fact that these programs assist pregnant moms in detecting genetic abnormalities in their children. Moreover, it is anticipated that in the next 10 years, every newborn’s genome would be sequenced and stored in the electronic medical record. Emerging companies like Counsyl and Natera have released several genetic tests to get a competitive advantage in the industry, gauging the future market potential of genomics in newborn screening programs.
The UK government announced the 100,000 Genomes Project in 2012 with the goal of sequencing 100,000 human genomes, establishing a genomic medicine service for the NHS, enabling new scientific discoveries. It has received over £200 million in funding and would initially focus on rare diseases and cancer. Hence, these factors are estimated to open new growth avenues for the regional Genomics Market during the forecasting period.
The Germany market dominated the Europe Genomics Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $4,750.1 million by 2027. The UK market would showcase a CAGR of 16.1% during (2021 - 2027). Additionally, The France market is experiencing a CAGR of 17.9% during (2021 - 2027).
Based on Product & Service, the market is segmented into Consumables, Systems & Software and Services. Based on Application, the market is segmented into Drug Discovery & Development, Diagnostics, Agriculture & Animal Research and Others. Based on End User, the market is segmented into Hospitals & Clinics, Research Centers and Academic & Government Institutes, Pharmaceutical & Biotechnology Companies and Others. Based on Technology, the market is segmented into Sequencing, PCR, Nucleic Acid Extraction & Purification, Microarray, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Genomics Market Size will Hit $68.9 Billion by 2027, at a CAGR of 17.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Creative Biogene, Thermo Fisher Scientific, Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd., Eurofins Scientific Group, Qiagen N.V., and New England BioLabs, Inc.
By Product & Service
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