Metagenomic Sequencing Market Latest Trends and Insights 2023
The global metagenomic sequencing market size was valued at USD 1,126.2 million in 2022 and is poised to grow at a 17.9% CAGR during the forecast period 2023 to 2029. The primary driver of the expansion of the global Metagenomic Sequencing market is growing awareness of genetic disorders and the availability of advanced technological platforms.
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The global metagenomic sequencing market segmentation:
1) By Product & Service: Reagents & Consumables, Instruments, Services, Analysis & Data Interpretation Solutions
2) By Workflow: Sample Processing & Library Preparation, Sequencing, Data Processing & Analysis
3) By Technology: Shotgun Metagenomic Sequencing, 16S rRNA Sequencing, Metatranscriptomics, Whole-genome Sequencing & De Novo Assembly
4) By End User: Drug Discovery, Clinical Diagnostics, Soil Microbiome Applications, Industrial Applications, Ecological and Environmental Applications, Veterinary Applications, Other Applications
Based on technology, the 16S rRNA sequencing segment accounted for the highest share of the global market in past years due to the high accuracy and affordability offered by 16S rRNA sequencing, continuous development and advancements in bioinformatics solutions, and the rising number of metagenomic research activities to identify individuals and categorize various bacterial strains.
The global metagenomic sequencing market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region.
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North America registered for the largest share of the global market in the historic period and is expected to dominate the market in coming years owing to various factors such as the increasing applications of metagenomics in diagnostics and genomics research, the availability of research funding, and the development of NGS data analysis solutions. The Asia Pacific region is also expected to have a significant growth rate owing to the various key payers making huge investments in the healthcare and medical sector for continuous advancement.
The metagenomic sequencing market key players are Illumina, Inc. (US), Thermo Fisher Scientific (US), QIAGEN N.V. (Netherlands), PerkinElmer, Inc. ( US), Oxford Nanopore Technologies Plc. (UK), ATC Biotech AG (Germany), Enterome Bioscience (France), SciGenom Labs Pvt. Ltd. (India), Second Genome Therapeutics (U.S.), Quest Diagnostics Incorporated (U.S.), Freenome Inc. (U.S.), GenapSys Inc. (U.S.), COSMOSID (U.S.), and Pacific Biosciences (U.S)
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