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“The metagenomic sequencing market is projected to grow at a CAGR of 17.0%.”
The metagenomic sequencing market is projected to reach USD 2.3 billion by 2024 from USD 1.0 billion in 2019, at a CAGR of 17.0%. The growth of this market is driven by factors such as the significant applications of metagenomics in various fields, the various initiatives and funding from government & private bodies for large-scale sequencing projects, and the declining cost of sequencing.
“The reagents & consumables segment is expected to witness the highest growth in the metagenomic sequencing market during the forecast period.”
On the basis of product & service, the metagenomic sequencing market is segmented into reagents & consumables, instruments, services, and analysis & data interpretation solutions. Of all these segments, reagents & consumables are expected to grow at the highest CAGR during the forecast period. Factors such as the development and commercialization of high-quality reagents and kits and the continuous requirement of sequencing reagents by end users are expected to drive the growth of the reagents & consumables market in the coming years.
“The sample processing & library preparation segment is expected to witness the highest growth in the metagenomic sequencing market during the forecast period.”
The market, based on workflow, has been segmented into sample processing & library preparation, sequencing, and data processing & analysis. The sample processing & library preparation segment projected to register the highest growth rate during the forecast period. This growth can be attributed to the growing number of metagenome sequencing research projects being conducted, the availability of technically advanced and robust sample processing and library preparation assay kits, and the demand for efficient library preparation products.
“The shotgun metagenomic sequencing technology segment is expected to witness the highest growth in the metagenomic sequencing market during the forecast period.”
On the basis of technology, the metagenomic sequencing market is segmented into shotgun metagenomic sequencing, 16S rRNA sequencing, metatranscriptomics, and whole-genome sequencing & de-novo assembly. The shotgun metagenomic sequencing technology is expected to witness the highest growth rate in the metagenomic sequencing market during the forecast period. This can be attributed to the advantages offered by shotgun sequencing over other techniques, growing adoption of shotgun metagenomic sequencing among researchers and healthcare professionals, and the increasing number of metagenomic sequencing-based research activities.
The drug discovery segment is expected to witness the highest growth in the metagenomic sequencing market during the forecast period.”
Based on applications, the metagenomic sequencing market 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 is poised to grow at the highest rate during the forecast period. Growth in this market segment is mainly due to the increasing research activities for novel drug discovery, growing collaborations between market players, academic institutions, and pharmaceutical companies for drug development, and growing use of metagenomic NGS in clinical trials.
“The Asia Pacific is expected to grow at the highest CAGR during the forecast period.”
The metagenomic sequencing market is segmented into four major regions, namely, North America, Europe, the Asia Pacific (APAC), and the Rest of the World (Latin America, the Middle East, and Africa). The Asia Pacific regional segment is expected to grow at the highest CAGR during the forecast period. Growth in this market segment is mainly due to a significant focus on R&D activities as a means of broadening the scope of metagenomics applications, increasing adoption of metagenomics for diagnostics (due to the decreasing cost of metagenomics products and services), and technological developments in metagenomics genomic data analysis as well as interpretation.
Breakdown of supply-side primary interviews:
- By Company Type: Tier 1 (25%), Tier 2 (30%), and Tier 3 (45%)
- By Designation: C-level (26%), Director-level (30%), and Others (44%)
- By Region: North America (34%), Europe (26%), APAC (23%), and RoW (17%)
The major players operating in the global metagenomic sequencing market are Illumina, Inc. (US), Thermo Fisher Scientific, Inc (US), QIAGEN N.V. (Netherlands), PerkinElmer (US), Oxford Nanopore Technologies Ltd (UK), BGI Group (China), Macrogen Inc. (South Korea), GENEWIZ (US), Eurofins Scientific (Luxembourg), Novogene Corporation (China), Zymo Research Corporation (US), NuGEN Technologies, Inc (US), IntegraGen SA (France), Microsynth AG (Switzerland), and DNAStar, Inc (US).
- This report studies the metagenomic sequencing market by product & service, workflow, technology, application, and region. It also covers factors affecting market growth, analyzes various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders.
- Furthermore, the study analyzes micromarkets with respect to their individual growth trends and forecasts the size of market segments with respect to key regions?North America, Europe, the Asia Pacific, and the Rest of the World.
Reasons To Buy the Report:
- From an insights perspective, this research report focuses on various levels of analysis market ranking the analysis of the top players and their company profiles, which together comprise and discuss basic views on the competitive landscape; emerging segments of the metagenomic sequencing market and high-growth regions and their drivers, restraints, challenges, and opportunities.
- The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, will help firms garner greater market shares.