The global Metagenomics Market size is expected to reach USD
4.02 billion by 2030, according to a new report by Grand View Research, Inc.
The market is expected to expand at a CAGR of 14.8% from 2023 to 2030. The
increasing research in genomics and proteomics, the rising
adoption of personalized medicines, and escalating requirement for
biologic products are driving the demand for sequencing, fueling the growth of
the industry. For instance, in August 2022, Illumina, Inc. announced its plans
to expand genomics operations in Brazil by developing a solution center. The
establishment of the new facility is the result of rising demand for clinical
genomics and accelerating the company's footprint in Latin America.
A
boost in R&D investments by the players is estimated to have a considerable
impact on the usage of metagenomics in numerous applications. For instance, in
April 2021, Agilent Technologies, Inc. acquired Resolution Bioscience, Inc., an
NGS-based precision oncology solution developing company. The combination of
Resolution Bioscience's noninvasive liquid biopsy platform with Agilent's
tissue-based companion diagnostics is anticipated to expand Agilent's market
position in NGS technologies for precision oncology.
Another
factor contributing to the high adoption of metagenomics for environmental use
is the direct involvement of microorganisms in the biogeochemical cycle. The
degradation of carbon sources such as petroleum hydrocarbons by microbes has
encouraged researchers to study metagenomics processes for the production of
biofuels. In addition, the presence of a large number of undiscovered
biomolecules in non-cultured microorganisms accelerated the adoption of
metagenomics in agriculture, food safety, chemical, industrial, and other
related applications.
Since
the outbreak of COVID-19, key stakeholders in the life sciences and biotechnology
industry are seeking solutions for COVID-19 tracking, detection, and
treatment. Metagenomics analysis plays a crucial role in the detection and
tracing of the virus. Various sequencing surveillance platforms and solutions
are being deployed for effective diagnosis of infection. For instance, in May
2021, Oxford University and Oracle announced a strategic partnership to develop
robust cloud-based genomic sequencing and analysis platform to mitigate the
risk of coronavirus infection.
Moreover,
funds provided by the government for promoting research in academic institutes,
which use NGS platforms, further increase the usage of metagenomics tools. For
instance, in February 2021, the Canadian government invested USD 53 million to
implement a multilayered approach for the diagnosis of COVID-19. The Canadian
government will utilize genome sequencing and analysis technologies to achieve
desired outcomes.
The
quality of data generated through metagenomics is another factor that increases
the cost of analysis. The quality of data is highly dependent on the average
number of times the bases are run during the sequencing process. The
high-quality analysis is expensive. However, the adoption of emerging novel
techniques, such as RNA-Seq, is rapidly increasing owing to accuracy and rapid
results along with a decline in prices. It is observed that the cost of
sequencing falls 5 to 10 times every year and the value of computing power
doubles every two years.
Related Press
Release@ Metagenomics Market Report
List of Key Players in the Metagenomics Market
- Bio-Rad
Laboratories
- Illumina,
Inc.
- PerkinElmer,
Inc.
- Thermo
Fisher Scientific, Inc.
- Novogene
Co., Ltd.
- Promega
Corporation
- QIAGEN
- Takara Bio,
Inc.
- Oxford
Nanopore Technologies
- F.
Hoffmann-La Roche Ltd.
Metagenomics Market Report Highlights
- By product,
the kits & reagents segment accounts for the largest market share. The
demand in terms of volumes is high for these products. High market penetration
of kits and reagents further contributes toward their highest revenue
share
- By
technology, the shotgun sequencing segment is estimated to have the
largest share with the fastest CAGR over the forecast period. The
advantages such as the ability to read all genomic DNA in a sample give a
competitive edge to the technology resulting in the growing adoption of
shotgun sequencing among researchers
- By
application, the clinical diagnostics segment is anticipated to have the
fastest CAGR throughout the forecast period. Owing to the research
initiatives for the development of personalized therapies using sequencing
technology are expected to impact growth in the area of clinical research,
hence, propelling the growth
- By workflow,
the sequencing segment held the largest share in 2022, owing to the
adoption of easy workflow models, demand for rapid results, and lower cost
of per sample analysis compared to the price of systems driving the demand
for sequencing & data analytics services
- North
America dominated the global metagenomics industry in 2022 owing to the
presence of well-established marketing and distribution network of major
companies and large-sized research & academic institutes, which focus
on genomic studies
- A few of the
key players include Illumina. Inc.; Thermo Fisher Scientific, Inc.;
QIAGEN; and Promega Corporation
Metagenomics Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 1.53 billion |
|
Revenue forecast in 2030 |
USD 4.02 billion |
|
Growth rate |
CAGR of 14.8% from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historical data |
2018 - 2021 |
|
Forecast period |
2023 - 2030 |
Metagenomics Market Segmentation
Grand
View Research has segmented the global metagenomics market on the basis of
technology, products, application, workflow, and region:
Metagenomics Product Scope Outlook (Revenue, USD Million,
2018 - 2030)
- Kits &
Reagents
- Sequencing
& Data Analytics Services
- Software
Metagenomics Technology Scope Outlook (Revenue, USD
Million, 2018 - 2030)
- Shotgun
Sequencing
- 16S
Sequencing
- Whole Genome
Sequencing
- Others
Metagenomics Workflow Scope Outlook (Revenue, USD
Million, 2018 - 2030)
- Pre-sequencing
- Sequencing
- Data
Analysis
Metagenomics Application Scope Outlook (Revenue, USD
Million, 2018 - 2030)
- Environmental
- Clinical
Diagnostics
- Drug
Discovery
- Biotechnology
- Food &
Nutrition
- Others
Metagenomics Regional Scope Outlook (Revenue, USD
Million, 2018 - 2030)
- North
America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- Thailand
- Latin
America
- Brazil
- Mexico
- Argentina
- Middle East
& Africa
- South
Africa
- Saudi
Arabia
- UAE
- Kuwait
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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