[FURL=https://www.industryarc.com/Report/16749/european-ngs-services-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]European NGS Services Market[/FURL] European NGS Services market size is estimated to reach $1.86 billion by 2026, growing at a CAGR of 15.9% during the forecast period 2021-2026. Next-generation sequencing (NGS) is a massively parallel sequencing technology that helps to provide extremely high throughput, scalability, and speed. NGS is used to identify the order of nucleotides in entire genomes or certain specific regions of the DNA or RNA. This technology has allowed labs to conduct various studies regarding biological systems that were previously impossible. Some of the major technologies used by the European NGS Services include Nanopore sequencing, Ion Semiconductor sequencing, and Pyro-sequencing.Key Takeaways
Geographically, the UK segment of the European NGS Services Market accounted for the largest share in 2020 owing to the increase in healthcare expenditure.
The rise in the awareness regarding NGS for the diagnosis of cancers and rare diseases is driving the European NGS Services Market during the forecast period. However, the time necessary for the development of NGS services acts as a challenge for demand generation.
Detailed analysis of the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the European NGS Services Market Report.
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European NGS Services Market Segment Analysis-By Country
The European NGS Services Market based on Country can be segmented into Germany, the UK, France, Italy, Spain, Russia, and the Rest of Europe. The UK segment is projected to dominate the European NGS Services market during the forecast period 2021-2026 with a market share of 24% owing to the presence of highly developed healthcare infrastructure, favorable government reimbursement policies, high patient awareness levels, and rising healthcare expenditure in the country. Moreover, the presence of various small and medium-scale NGS service providers in the country ensures lower costs, higher innovation, and more options for the end-user industries.
European NGS Services Market Drivers
Increase Cancer Prevalence is Projected to Drive Market Growth
The rise in Awareness of Prenatal Disorders is Anticipated to Boost Service Demand
European NGS Services Industry Outlook:
The top 10 companies of the industry include Genomnia SRL, Mina INC, Macrogen Inc, Microsynth AG, Seqomics, Source BioScience, DNA Vision SA, Eurofins Genomics Inc, Beijing Genomics Institute (BGI), Comprehensive Biomarker Center GMBH (CBC)
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