Press release
Europe NGS Automation Market Poised to Reach $380.4 Million by 2030-Groundbreaking Analysis by Meticulous Research®
[Redding, California, March 11, 2024] - Meticulous Research®, a leading provider of market intelligence, has released a comprehensive report titled, "Europe NGS Automation Market: Transformative Trends and Future Insights." According to this insightful report, the Europe NGS automation market is forecasted to burgeon to $380.4 million by the year 2030, reflecting a compelling compound annual growth rate (CAGR) of 13.4% from 2023 to 2030.Download Free Research PDF @ https://www.meticulousresearch.com/download-sample-report/cp_id=5644
NGS automation stands at the forefront of innovation, empowering researchers to elevate library quality by consistently producing reliable and reproducible NGS data. Moreover, NGS automation significantly enhances cost-efficiency and streamlines processes, effectively mitigating the risk of contamination by reducing manual interactions with reagents and samples. With the escalating demand for enhanced efficiency and error reduction in NGS workflows, the adoption of automation continues to soar.
The growth trajectory of the Europe NGS automation market is underpinned by various factors, including the burgeoning demand for automation in NGS workflows, the escalating incidences of cancer, and the substantial investments in research and development (R&D) and healthcare expenditure. Furthermore, the expanding applications of next-generation sequencing and the proliferation of collaborative endeavors among companies to develop library preparation protocols are poised to unlock remarkable growth opportunities within this dynamic market landscape.
However, the market's progression is likely to encounter certain impediments, notably the high cost associated with automation workstations. Additionally, regulatory and standardization concerns in diagnostic testing, alongside the prerequisite for highly skilled personnel to operate automation software, pose significant challenges to market growth.
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Driving Forces: Pharmaceutical R&D Expenditure in Europe
A pivotal driver propelling the growth of the Europe NGS automation market is the substantial investment in pharmaceutical research and development (R&D) across the region. NGS plays a pivotal role in revolutionizing drug discovery processes within pharmaceutical and biotechnology companies, which continually prioritize R&D endeavors to drive innovation and catalyze medical breakthroughs. According to a report by the European Federation of Pharmaceutical Industries and Associations (EFPIA), pharmaceutical R&D expenditure in Europe is anticipated to surge from USD 37,060.6 million in 2010 to USD 49,102.0 million in 2021. This upward trajectory in R&D expenditure underscores the heightened adoption of automation workstations, consequently fueling the expansion of the NGS automation market in Europe.
The Meticulous Research® report provides a meticulous assessment of the market landscape, delving into product categories, applications, sequencing types, and end-user segments. Furthermore, it offers invaluable insights into the strategic growth initiatives undertaken by key market players over the past three to four years.
Request for Sample Report: https://www.meticulousresearch.com/request-sample-report/cp_id=5644
Key Players and Market Dynamics
Prominent entities operating within the Europe NGS automation market include Agilent Technologies, Inc., Danaher Corporation, Eppendorf AG, Hamilton Company, PerkinElmer, Inc., Tecan Group Ltd., PRIMADAG SAS, BRAND GMBH + CO KG, Hudson Robotics, SPT Labtech, Thermo Fisher Scientific Inc., and F. Hoffmann-La Roche AG. The report meticulously evaluates industry competitors and conducts a comprehensive analysis of the market at both regional and national levels.
Product-wise, the workstation/robotic platform segment is projected to dominate the NGS automation market in 2023, buoyed by its myriad benefits during library preparation, including heightened efficiency, reduced turnaround time, diminished per-sample costs, and enhanced reproducibility. Application-wise, the drug discovery segment is anticipated to seize the largest market share in 2023, driven by the increasing utilization of NGS for identifying novel drug targets and developing therapeutic techniques. Moreover, the whole genome sequencing segment is poised to reign supreme based on sequencing type in 2023, attributable to the growing demand for automation in WGS to curb per-sample costs and address various healthcare challenges.
Quick Buy - Europe NGS Automation Market - Opportunity Analysis and Industry Forecast (2023-2030), Research Report: https://www.meticulousresearch.com/Checkout/76016768
End-user-wise, the pharmaceutical and biotechnology companies segment is primed to command a substantial share of the NGS automation market in 2023, driven by heightened R&D expenditure, escalating demand for novel drug discovery, and the burgeoning adoption of advanced NGS automation workstations within this sector.
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