Market Research Report
Europe Metagenomics Market to 2027 - Regional Analysis and Forecasts by Product (Instruments & Software and Consumables), Application (Clinical Diagnostics, Drug Discovery Metagenomics and Others) and Country
|Published by||The Insight Partners||Product code||819806|
|Published||Content info||138 Pages
Delivery time: 1-2 business days
|Europe Metagenomics Market to 2027 - Regional Analysis and Forecasts by Product (Instruments & Software and Consumables), Application (Clinical Diagnostics, Drug Discovery Metagenomics and Others) and Country|
|Published: February 27, 2019||Content info: 138 Pages||
The Europe Metagenomics market is expected to reach US$ 89.7 Mn in 2027 from US$ 48.6 Mn in 2018. The market is estimated to grow with a CAGR of 7.4% from 2018-2027. The growth of the market is driven by the factors such as technological advancements in the metagenomics, growing preference for Metagenomics over traditional methods and wide range metagenomics applications, in the Europe region. Whereas, highly priced metagenomics technology is likely to have a negative impact on the growth of the market in the coming years.
Metagenomics is the upcoming field of the biotechnology and the extensive researches are being conducted in the labs across the world. In addition, the next generation sequencing and other technologies in the genomics are assisting in the conduction of the metagenomics studies. Also, in recent years, next generation sequencing price have declined substantially. For instance, first whole human genome sequencing cost over US$3.7 billion in 2000 and took 13 years for the completion. However, the costs for the same in recent years has reduced to US$1,000 and the process requires less number of days. In 2000, cost for sequencing was US$ 3.7 billion, which dropped down to US$ 10 million in 2006 and declined to US$ 5,000 in 2012. One of the few biotech unicorns in Europe, Oxford Nanopore Technologies based in UK have introduced breakthrough technologies in DNA sequencing. The company has developed handheld MinION sequencer to sequence the human genome. The device was able to read sequences of DNA that are hundreds times larger than usual, helping scientists better reconstruct the whole genome sequence. MinION costs less than $1,000 and offers high-speed sequencing even outside of the lab, with an accuracy of up to 99.96% when using 'nanopolish' software to correct any errors made during sequencing.
Owing to factor that the cost of the metagenomics is been subsidize by the venture capitalists and the innovative technology by the market leaders that enables the access to the metagenomics studies are likely to propel the growth of the market in the forecast period.
Germany is measured as the biggest hub for biotechnology in Europe and across the world owing to presence of large biotechnology players, high-tech research labs and massive funding for conduction of research and development. Germany is a country where various biotechnological companies reside than any other countries in Europe. The country is also accounted in the international list of toppers for the number of studies that are in pipeline. The cutting edge and high-quality research present in the country creates lucrative opportunity and presence of an established market for metagenomics.