Global Metagenomics Sequencing Market Overview
The key driver impacting the metagenomics sequencing market is the increasing research into genetics. The speedy development of next-generation sequencing technology has augmented the amount of available microbial genomes considerably. As a result of this development, there is a growing demand for automated and rapid approaches in analyzing these genomes in a way that allows for dissimilarity among them. The advanced technological platforms and enhanced genomic tools are stimulating the market demand. The declining cost of sequencing, in turn, created market demand. Moreover, the rising awareness of genetic disorders contributes to metagenomics sequencing market demand later.
According to Value Market Research, the global Metagenomics sequencing market size was valued at about USD 1.4 billion in 2020 and is estimated to grow at a CAGR of around 17.2% during the forecast period 2021 to 2027.
The rising initiatives and funding from government & private bodies for large-scale sequencing projects will likely augment metagenomics sequencing demand in the forecast period. Also, the growing use of advanced bioinformatics tools, high throughput screening (HTS) methods, recovery of novel drugs, and the development of cost-effective technologies such as next-generation sequencing (NGS) is creating a positive impact on the market growth. However, the high cost of implementation hampers the market in the long run. Also, the dearth of skilled professionals is impeding market growth. Nevertheless, the market trends, such as the increased adoption of cloud computing for data management, might provide considerable opportunities to the market's leading players.
The Metagenomics sequencing market is widespread, with many local and international players. The market leaders follow diverse strategies such as amalgamation, extending product portfolio, acquisitions, contracts, product upgrades to strengthen their market share globally. The key players in the report are Eurofins Genomics, Oxford Nanopore Technologies Ltd, Thermo Fisher Scientific Inc., PerkinElmer Inc., Macrogen Inc., Illumina, Inc., Pacific Biosciences of California, Inc., BGI Genomics Co., Ltd., Swift Biosciences Inc., and QIAGEN N.V.
In this research report, the Metagenomics sequencing market is segmented by product and service, workflow, technology, application, and region.
Analysis by Product & Service:
By product & service, the report is segmented into reagents & consumables, instruments, services, analysis & data interpretation solutions. The reagents & consumables segment dominates the product & service segment with the highest share in 2020. It is due to the constant need for sequencing reagents by end-users and the creation & commercialization of high-quality reagents & kits, contribute to the growth of the reagents & consumables segment.
Analysis by Workflow:
By workflow, the report is segmented into sample processing & library preparation, sequencing, and data processing & analysis. The sample processing & library preparation segment dominates the workflow segment with the highest share in 2020. It is due to the availability of technically advanced and robust sample processing and escalating conduction of a huge number of metagenome sequencing research projects which contributes to the growth of the sample processing & library preparation segment.
Analysis by Technology:
By technology, the report is segmented into shotgun metagenomic sequencing, 16s rRNA sequencing, metatranscriptomics, whole-genome sequencing & de novo assembly. The shotgun metagenomic sequencing technology segment dominates the technology segment with the highest share in 2020. It is due to the various advantages provided by shotgun sequencing as compared to other techniques. Also, the growing adoption of shotgun metagenomic sequencing among healthcare professionals and researchers coupled with a rise in the number of metagenomic sequencing-based research activities, thus stimulating market demand for shotgun metagenomic sequencing technology.
Analysis by Application:
By Application, the report is segmented into drug discovery, clinical diagnostics, soil microbiome applications, industrial applications, ecological and environmental applications, veterinary applications, and other applications. The drug discovery segment dominates the application segment with the highest share in 2020. It is due to the mounting research activities for new drug discovery, growing collaborations between academic institutions, market players, and pharmaceutical companies for drug development. Moreover, the rising utilization of metagenomic NGS in clinical trials is contributing to the growth of the segment growth.
Analysis by Region:
In the regional overview of the global Metagenomics sequencing market, the North America region dominates with the largest market share in 2020. It is due to the favorable initiatives by government and private bodies for the adoption and development of NGS-based metagenomics technologies, the extensive adoption of metagenomic diagnostics in the region. Also, the growing NGS-based metagenomic research & clinical applications in the region and increasing awareness of metagenomics sequencing services contribute to the tremendous market growth across the North America region.
Market Segmentation covered in the Report:
By Product & Service
- Reagents & Consumables
- Instruments
- Services
- Analysis & Data Interpretation Solutions
By Workflow
- Sample Processing & Library Preparation
- Sequencing
- Data Processing & Analysis
By Technology
- Shotgun Metagenomic Sequencing
- 16S rRNA Sequencing
- Metatranscriptomics
- Whole-genome Sequencing & De Novo Assembly
By Application
- Drug Discovery
- Clinical Diagnostics
- Soil Microbiome Applications
- Industrial applications
- Ecological and Environmental Applications
- Veterinary Applications
- Other Applications
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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