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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 Europe Metagenomics market is experiencing growth fueled by advancements in metagenomic techniques, a growing preference for these methods over traditional approaches, and their diverse applications. This positive trajectory is somewhat tempered by the currently high cost of metagenomics technology.
Europe Metagenomics market, a burgeoning field within biotechnology, is the subject of extensive global research efforts. The progress in next-generation sequencing and other genomic technologies is significantly contributing to these studies. Notably, the cost of next-generation sequencing has dramatically decreased in recent years. To illustrate, sequencing the first whole human genome in 2000 cost over $3.7 billion and took 13 years. Today, the cost has plummeted to around $1,000, and the process is completed much faster. Sequencing costs saw a significant decline from $3.7 billion in 2000 to $10 million in 2006 and further down to $5,000 in 2012. Oxford Nanopore Technologies, a prominent European biotech unicorn based in the UK, has pioneered innovative DNA sequencing technologies. Their handheld MinION sequencer can read DNA sequences hundreds of times longer than conventional methods, enabling more accurate reconstruction of entire genome sequences. Priced under $1,000, the MinION offers rapid sequencing capabilities even outside traditional laboratory settings, achieving an accuracy of up to 99.96% with the use of 'nanopolish' error-correction software.
The accessibility of metagenomics studies is likely to increase during the forecast period, driven by venture capital investments that are subsidizing the cost and the introduction of innovative technologies by Europe Metagenomics market leaders.
Germany stands out as a leading biotechnology hub in Europe and globally, characterized by a strong presence of major biotechnology companies, advanced research laboratories, and substantial funding for research and development. More biotechnology firms are located in Germany than in any other European country. Furthermore, Germany ranks among the top nations worldwide in the number of ongoing research studies. The high-caliber, cutting-edge research environment in Germany creates significant opportunities and a well-established market for metagenomics.
Europe Metagenomics market Strategic Insights
Strategic insights for the Europe Metagenomics market offer a data-driven analysis of the industry landscape, encompassing current trends, key market participants, and regional specificities. These insights provide actionable recommendations that can help stakeholders differentiate themselves by identifying underserved market segments or developing unique value propositions. By leveraging data analytics, these insights enable industry players, including investors and manufacturers, to anticipate market shifts. Adopting a forward-looking perspective is crucial for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that enhance profitability and achieve their business objectives within the Europe Metagenomics market.
Europe Metagenomics market Regional Insights
The geographic scope of the Europe Metagenomics market defines the specific areas where businesses operate and compete. Understanding local nuances, such as diverse consumer preferences (for example, varying demands for specific applications or features), different economic conditions, and regulatory frameworks, is essential for tailoring strategies to specific markets. Businesses can expand their market presence by identifying underserved regions or adapting their offerings to meet local demands. A focused market approach allows for more efficient resource allocation, targeted marketing campaigns, and improved positioning against local competitors, ultimately driving growth in these specific areas.
Europe Metagenomics - Market Segmentation
Europe Metagenomics market By Product
Instruments & Software
Consumables
Europe Metagenomics market Segmentation By Application
Clinical Diagnostics
Drug Discovery
Europe Metagenomics market By Country
France
Germany
U.K.
Europe Metagenomics market Companies Mentioned
Merck KGaA
Thermo Fisher Scientific Inc.
Agilent Technologies
Qiagen
Bio-Rad Laboratories, Inc.
Perkinelmer Inc.
Illumina Inc.
F Hoffman-La Roche Ltd.
Oxford Nanopore Technologies Ltd.
Pacific Bioscience of California, Inc.
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About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.
Author’s Bio:
Suryakant Gadekar
Senior Market Research Expert at Business Market Insights
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