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Metagenomics Sequencing Market Expected to Reach $3.6 Billion by 2028

 

Report Code : A04697

quote The increase in number of patients suffering from chronic diseases, further fuels growth of the global metagenomics sequencing market. quote

Kishor Sherkar
Lead Analyst, Healthcare at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Global Metagenomics Sequencing Market by product, technology, and application : Opportunity Analysis and Industry Forecast, 2021-2028,” the global metagenomics sequencing market size was valued at $974.30 million in 2020, and is projected to reach $3,646.53 million by 2028, registering a CAGR of 17.5% from 2021 to 2028.

Metagenomics is a molecular tool in genomics technique and it uses metagenomics sequencing to analyze the mixed genomic materials extracted from community of organisms. This procedure provides detailed information about species diversity and abundancy, functional genes, phylogenetic relationship, population structure, and correlation network with environmental factors. Although these procedures are initially used for clinical diagnostic, drug discovery, biofuel, and industrial application. Metagenomics is the study of a collection of genetic material (genomes) from a mixed community of organisms. Metagenomics usually refers to the study of microbial communities. Metagenomics allows studies of organisms that are not easily cultured in a laboratory. This includes the vast majority of microorganisms, because most have never been cultured. Metagenomics sequencing refers to the comprehensive sampling of all organisms recovered directly from the environment. Through metagenomics sequencing, microbes can be identified and quantified in various environments. It is also an opportunity to study unculturable microorganisms and reveal their potential biological utility.

Some of the factors that drive the metagenomics sequencing market growth include advancements in metagenomics sequencing, significant applications of metagenomics in various fields, initiatives and funding from government & private bodies for large-scale sequencing projects, and decline in cost of sequencing.

However, end-user budget constraints in developing countries and dearth of skilled professionals are anticipated to hinder the market growth during the forecast period.

By product & service, the metagenomics sequencing market is categorized into reagents & consumables, instrument, and services. The services segment is further segmented into analysis & data interpretation solutions and metagenomic sequencing services. The services segment generated the highest revenue in 2020 attributed to the higher adoption of metagenomic sequencing services and analysis & data interpretation solutions.

By technology, the market is categorized into shotgun metagenomics sequencing, 16S rRNA sequencing, whole genome sequencing & de novo assembly, and metatranscriptomics. The 16S rRNA sequencing segment led the market in 2020 due to the advantage shown such that it can be used as a tool to identify bacteria at the species level and assist with differentiating between closely related bacterial species.

By application, the market is classified into drug discovery, ecological & environmental metagenomics, clinical diagnostics, biofuel, and industrial applications. The clinical diagnostics segment is expected to register the highest growth rate from 2020 to 2028 owing to development of software packages and instruments utilized in the metagenomics studies.

Region wise, the metagenomics sequencing market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America held a leading position in the global market in 2020, and is expected to maintain its lead throughout the analysis period due to increase in applications of metagenomics sequencing in clinical diagnostic, drug discovery, genetic disorders, and rise in rate of research projects of metagenomics sequencing in the U.S. and Canada.

Market players are adopting growth strategies such as product launches, acquisitions, business expansions, and partnerships & collaborations to gain competitive advantage.

Prominent players operating in the global metagenomics sequencing market include BGI Genomics Co., Ltd., Eurofins Genomics, Illumina, Inc., Macrogen Inc., Oxford Nanopore Technologies Ltd, Pacific Biosciences of California, Inc., PerkinElmer Inc., QIAGEN N.V., Swift Biosciences Inc., and Thermo Fisher Scientific Inc.

Major players that operate in this market include BGI Genomics Co., Ltd., Eurofins Genomics, Illumina, Inc., Macrogen Inc., Oxford Nanopore Technologies Ltd, Pacific Biosciences of California, Inc., PerkinElmer Inc., QIAGEN N.V., Swift Biosciences Inc., and Thermo Fisher Scientific Inc.

Key Findings Of The Study

  • By product & service, the services segment accounted for the largest segment in 2020, while reagents & consumables segment is expected to grow at highest CAGR of 18.5% from 2021 to 2028
  • By technology, the 16S rRNA sequencing segment dominated the metagenomics sequencing market in 2020, while shotgun metagenomics sequencing segment is expected to grow at highest CAGR of 18.5% from 2021 to 2028
  • By application, the drug discovery segment was the largest application segment in overall market in 2020
  • By region, Asia-Pacific is expected to witness highest metagenomics sequencing market growth rate, with a CAGR of 19.0% driven by growth in population, increase in affordability, and improvement in healthcare facilities in the region

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quote Metagenomics Sequencing Market by Product & Service (Reagents & Consumables, Instruments, and Services), Technology (Shotgun Metagenomics Sequencing, 16S rRNA Sequencing, Whole Genome Sequencing & De Novo Assembly, and Metatranscriptomics), and Application (Ecological & Environmental Metagenomics, Clinical Diagnostics, Drug Discovery, Biofuel, and Industrial Application) Global Opportunity Analysis and Industry Forecast, 2021–2028 quote

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