June 14, 2024
Global Metagenomic Sequencing Market
Ict

Global Metagenomic Sequencing Market is Estimated to Witness High Growth Owing to Rapid Advancements in NGS Technologies

Metagenomic sequencing is a method used to analyze genomic material that is directly extracted from the environmental samples comprising of microbes, viruses and extracellular DNA. It allows exploring microbial diversity in various environments without culturing and provides insights into ecosystem functioning and microbial community structure. The method aids in analyzing functions of all microorganisms present in the microbial community and their interaction with the given ecosystem.

The Global Metagenomic Sequencing Market Size is estimated to be valued at US$ 1.41 Bn in 2024 and is expected to exhibit a CAGR of 17 % over the forecast period 2024-2031.

Key Takeaways

Key players operating in the global metagenomic sequencing are Illumina, QIAGEN, Thermo Fisher Scientific, Oxford Nanopore Technologies, BGI Group, PerkinElmer, GENEWIZ, Macrogen, Zymo Research, Diversigen, Microsynth AG, BaseClear, MR DNA (Molecular Research), Eurofins Scientific, Novogene Corporation, NuGEN Technologies, Takara Bio, Swift Biosciences, New England Biolabs, and CosmosID.

Key opportunities in the market include development of advanced technologies for real-time monitoring of microbial communities, identification of novel drug targets and biomarkers.Growing investment from biopharmaceutical companies and research organizations represents significant growth opportunities for stakeholders in the metagenomic sequencing market.

Rapid adoption of metagenomic sequencing approach globally is expected owing to its application across various sectors like healthcare, biotechnology, agriculture and environment. North America represents the largest regional market due to presence of advanced research infrastructure and increasing R&D investment while Asia Pacific market is projected to witness highest growth over forecast period supported by growing biotechnology industry and improved healthcare spending.

Market Drivers

Rapid advancements in next-generation sequencing (NGS) technologies such as long-read sequencing and nanopore sequencing coupled with their declining costs are major factors augmenting the adoption of metagenomic sequencing approach. It helps gain comprehensive understanding of complex microbial communities involved in diverse ecosystems and potential applications in various fields including disease outbreak monitoring, environmental remediation and biomining. This will continue stimulating the demand for metagenomic sequencing solutions in coming years.

Pest Analysis

Political: Regulations regarding data privacy and security are becoming stricter which can impact market growth. However, support for research involving metagenomics from government organizations is promoting innovations.

Economic: Growth in biotechnology and pharmaceutical industries is fueling investments in metagenomic sequencing for developing novel drugs and diagnostics. However, high infrastructure costs can hamper market expansion.

Social: Increasing awareness about applications of metagenomics in human healthcare, agriculture, and environmental protection is driving market demand. However, ethical concerns regarding genomic data sharing need addressing.

Technological: Advancements in NGS platforms, bioinformatics tools, and cloud computing are propelling the development of cost-effective and high-throughput metagenomic sequencing solutions.

North America accounts for the largest share of the global market currently in terms of value due to heavy investments in metagenomics research by pharmaceutical and biotechnology companies in the region. The presence of key market players and advanced research infrastructure also contribute to North America’s prominent position.

The Asia Pacific region is projected to be the fastest growing regional market during the forecast period. This can be attributed to rising healthcare expenditure, flourishing biotechnology sector, and increasing collaborations between international research institutions and local players in countries like China and India. Growing metagenomics application scope in industrial biotechnology is anticipated to drive the market in the Asia Pacific.

What Are The Key Data Covered In This Global Metagenomic Sequencing Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Global Metagenomic Sequencing Market’s growth between 2024 and 2031.

:- Accurate calculation of the size of the Global Metagenomic Sequencing Market and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Global Metagenomic Sequencing Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Global Metagenomic Sequencing Market vendors

FAQ’S

Q.1 What are the main factors influencing the Global Metagenomic Sequencing market?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Global Metagenomic Sequencing Market companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Global Metagenomic Sequencing market’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it