Europe Long Read Sequencing Market
No. of Pages: 136 | Report Code: TIPRE00024445 | Category: Life Sciences
No. of Pages: 136 | Report Code: TIPRE00024445 | Category: Life Sciences
The European long read sequencing market includes the consolidated markets for France, Germany, United Kingdom, and rest of Europe. Europe occupies a significant position in the global long read sequencing market and is expected to register robust growth rate during the forecast period. Government and private funding for DNA synthesis and increase in various research for gene synthesis are likely to be the major factors driving the growth of this market in the European region. Surge in prevalence of chronic diseases is the major factor driving the growth of the Europe long read sequencing market.
Countries in the European regions were profoundly affected due to the COVID-19 pandemic. For instance, countries such as Italy, Spain, and France have reported the highest number of positive cases and have registered the maximum number of deaths. European countries are observing a resurgence in COVID-19 cases after successfully mitigating outbreaks early in the year. Many countries are declaring more cases each day now than during the first wave earlier this year. Lockdowns are being reintroduced in the UK, Spain, Italy, and Ireland, as per the European Centre for Disease Prevention and Control (ECDC). Due to the second wave of COVID-19 cases, many countries' government is working towards boosting up their genomic sequencing to know the virus and build treatment against it. Unfortunately, the UK Government's tiered plan to easing a month-long lockdown in early December failed to curb the spread of the viral pandemic – especially in London, the East, and the South East of England. Whole viral genome sequencing also allows for a better understanding of the transmission of the virus, including whether it is mutating and becoming a threat to people. In addition, genomics can assist in explaining why people respond to Covid-19 in different ways, therefore aiding to identify and better protect those at greater risk of severe disease. The demand for the genomic increased drastically owing to supportive government initiatives. For instance, the efforts of UK public health agencies and with the support of the Covid-19 Genomics Consortium UK (COG-UK) created in late March 2020 with £20m funding from UK Research and Innovation, COG-UK is bringing together researchers from 16 sites across the UK, including the Wellcome Sanger Institute, to sequence positive samples of SARS-CoV-2 to track the development of mutations and how they are spreading. Moreover, COG-UK and the Sanger Institute have raised £12.2m in funding from the Department of Health and Social Care's Testing Innovation Fund to create a real-time surveillance system of emerging outbreaks. This system will be supported by new software being developed by the Sanger Institute and involves researchers from across the consortium's network. In addition, deCODE genetics is also conducting demonic analysis of COVID-19 virus, partnering with the government of Iceland to sequence the genomes of the samples isolated from COVID-19 patients. Hence, the European genomic market is likely to show significant growth prospects during this pandemic and forecasted year.
Strategic insights for the Europe Long Read Sequencing provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 384.94 Million |
| Market Size by 2028 | US$ 1,617.47 Million |
| Global CAGR (2021 - 2028) | 22.8% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Technology
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe Long Read Sequencing refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The long read sequencing market in Europe is expected to grow from US$ 384.94 million in 2021 to US$ 1,617.47 million by 2028; it is estimated to grow at a CAGR of 22.8% from 2021 to 2028. According to the World Health Organization (WHO), cancer is one of the leading causes of morbidity and mortality globally, with around 14 million new cases reported worldwide in 2012. The WHO also suggests that 30–50% of deaths caused due to cancer can be prevented by adequate treatment in the early stages. In this scenario, personalized medicine offers the most promising approaches to tackle diseases, which have far eluded effective treatments or cures. Moreover, biopharmaceutical companies nearly doubled their R&D investment in personalized drugs over the past five years and likely to increase their investment in the next five years. Biopharmaceutical researchers also predict a increase in personalized medicines in development over the coming five years.
The Europe long read sequencing market is segmented based on technology, product, application, workflow and end user, and country. Based on technology, the long read sequencing market is sub-segmented into single-molecule real-time sequencing (SMRT), nanopore sequencing, and loop genomics long-read sequencing. The single-molecule real-time sequencing (SMRT) segment dominated the market in 2020 and loop genomics long-read sequencing segment is expected to be the fastest growing during the forecast period. Based on product, the long read sequencing market is categorized into instruments, consumables, and services. The consumables segment dominated the market in 2020 and services segment is expected to be the fastest growing during the forecast period. Based on application, the market is segmented into identification and fine mapping of structural variation, tandem repeat sequencing, pseudogene discrimination, resolving allele phasing, reproductive genomics, cancer, viral and microbial sequencing. The identification and fine mapping of structural variation segment dominated the market in 2020 and cancer segment is expected to be the fastest growing during the forecast period. Based on workflow, the market is segmented pre-sequencing, sequencing, and data analysis. The sequencing segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period. Based on end user, the long read sequencing market is sub-segmented into academic research institutes, hospitals and clinics, and pharma and biotechnology companies. The academic research institutes, hospitals and clinics segment dominated the market in 2020 and is expected to be the fastest growing during the forecast period.
A few major primary and secondary sources referred to for preparing this report on the long read sequencing market in Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are BaseClear B.V.; Bionano Genomics; F. HOFFMANN-LA ROCHE LTD.; Illumina, Inc.; Oxford Nanopore Technologies; PerkinElmer, Inc.; and TATAA Biocenter are among others.
The Europe Long Read Sequencing Market is valued at US$ 384.94 Million in 2021, it is projected to reach US$ 1,617.47 Million by 2028.
As per our report Europe Long Read Sequencing Market, the market size is valued at US$ 384.94 Million in 2021, projecting it to reach US$ 1,617.47 Million by 2028. This translates to a CAGR of approximately 22.8% during the forecast period.
The Europe Long Read Sequencing Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Long Read Sequencing Market report:
The Europe Long Read Sequencing Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Long Read Sequencing Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Long Read Sequencing Market value chain can benefit from the information contained in a comprehensive market report.
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