DUBLIN, Oct. 3, 2019 /PRNewswire/ -- 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, nonexistence 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.
Key Market Dynamics
Key Market Drivers
- Rise In The Advancements For Genome Editing Technologies
- Technological Developments In Genomics
Key Market Restraints
- Nonexistence Of Skilled Professionals
- Risks Associated With Genetic Data
Key Market Opportunities
- Extensive Use Of Genomics For Medical Applications
- Usage Of Gene Synthesis In Personalized Medicine
- Thermo Fisher Scientific Inc.
- Illumina Inc.
- Agilent Technologies
- Bio-Rad Laboratories, Inc.
- F. Hoffmann-La Roche AG,
- GE Healthcare
For more information about this report visit https://www.researchandmarkets.com/r/oohx5j
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
Research and Markets
Laura Wood, Senior Manager
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets