Global Metagenomic Sequencing Market to Reach US$ 4.39 Billion by 2030, Rising at a CAGR of 17.6% | Report by CoherentMI
BURLINGAME, Calif., Jan. 17, 2024 /PRNewswire/ -- CoherentMI published a report, titled, Global Metagenomic Sequencing Market estimated value at US$ 1.41 Billion in the year 2023 and is anticipated to reach US$ 4.39 Billion by 2030, at a CAGR of 17.6% during forecast period 2023-2030.
The Global Metagenomic Sequencing Market is poised to experience significant growth, primarily driven by technological advancements. With the advent of next-generation sequencing (NGS) technologies and bioinformatics tools, metagenomic sequencing has become more efficient and cost-effective. NGS technologies enable the simultaneous sequencing of multiple DNA samples, allowing researchers to analyze the genetic composition of complex microbial communities on an unprecedented scale. This has considerably expanded the applications of metagenomic sequencing in various fields, including environmental monitoring, disease surveillance, and personalized medicine.
Furthermore, the increasing demand for accurate and rapid diagnostic solutions has also contributed to the market growth. Metagenomic sequencing offers a comprehensive genetic analysis of microbial communities, enabling healthcare professionals to identify and track potential pathogens. This enables better disease control and prevention strategies, leading to improved patient outcomes.
Key Market Takeaways:
- Global Metagenomic Sequencing Market Size is anticipated to witness a CAGR of 17.6% during the forecast period 2023-2030, owing to the advancements in sequencing technology and the increasing demand for drug discovery applications.
- On the basis of technology, the sequencing segment is expected to hold a dominant position, owing to its enhanced speed, accuracy, and cost-effectiveness compared to traditional sequencing methods.
- On the basis of product, the instruments segment is expected to dominate, as they are essential for conducting metagenomic sequencing experiments.
- On the basis of application, the drug discovery segment is expected to hold a dominant position, driven by the need for new antibiotics and personalized medicine.
- On the basis of end-user, the pharmaceutical and biotechnology companies segment is expected to dominate, as they extensively utilize metagenomic sequencing for drug discovery and development.
- In terms of region, North America is expected to hold a dominant position over the forecast period, due to the presence of a well-established healthcare infrastructure, increasing investments in research and development activities, and the presence of key market players in the region.
- Key players operating in the Global Metagenomic Sequencing Market include 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. These key players contribute to the market growth through product developments, collaborations, and strategic partnerships.
Market Trends:
Two key trends shaping the Global Metagenomic Sequencing Market are as follows:
Rising applications in microbiome research: Metagenomic sequencing is increasingly being utilized in microbiome research to understand the role of microorganisms in human health and disease. It allows the identification and characterization of complex microbial communities, providing valuable insights into the interactions between microbes and their host. This has led to advancements in personalized medicine, where metagenomic sequencing can aid in the development of targeted therapies that leverage the microbiome's potential.
Growing adoption in environmental monitoring: Metagenomic sequencing has emerged as a powerful tool for environmental monitoring and impact assessment. It enables the comprehensive analysis of microbial communities in various environments, such as water bodies, soil, and air. This helps in assessing ecosystem health, identifying potential sources of pollution, and developing effective environmental management strategies.
Recent Developments
- On June 20 2023, Delve Bio, a pioneer in metagenomic next-generation sequencing (mNGS) for infectious diseases, debuts with US$ 35 million in Series A financing led by Perceptive Xontogeny Venture Fund II (PXV Fund II) – and joined by Section 32 and GV. The funds will be used to commercialize the company's mNGS-based infectious disease test – which was developed by world-renowned infectious disease experts at the University of California San Francisco (UCSF) Center for Next-Gen Precision Diagnostics – and advance a pipeline of next-generation tests.
- In July 2022, Thermo Fisher Scientific, a biotechnology company, launched the Applied Biosystems QuantStudio Absolute Q Digital PCR System, an advanced digital PCR platform to provide ultra-sensitive quantification of nucleic acids.
Read complete market research report, "Global Metagenomic Sequencing Market Size And Share Analysis - Growth Trends And Forecasts (2023 - 2030)", Published by CoherentMI.
Market Opportunities
Advancements in Sequencing Technology
The global metagenomic sequencing market is expected to witness significant growth opportunities due to advancements in sequencing technology. Sequencing is the dominating technology in this market segment, accounting for the largest share. The advent of next-generation sequencing (NGS) techniques has revolutionized metagenomic sequencing, enabling high-throughput analysis of microbial communities. NGS techniques offer enhanced speed, accuracy, and cost-effectiveness compared to traditional Sanger sequencing methods. This has led to increased adoption of metagenomic sequencing in various applications such as drug discovery, disease diagnosis, and environmental remediation. The continuous advancements in sequencing technology are expected to drive the growth of the global metagenomic sequencing market in the forecast period.
Increasing demand for Drug Discovery Applications
Another significant market opportunity in the global metagenomic sequencing market lies in the increasing demand for drug discovery applications. Metagenomic sequencing plays a crucial role in drug discovery by enabling the identification and analysis of microbial genomes and their functional characteristics. It helps in identifying novel bioactive compounds and potential drug targets, thereby accelerating the drug discovery process. The drug discovery segment is expected to dominate the application segment of the metagenomic sequencing market. Factors such as the increasing prevalence of chronic diseases, the need for new antibiotics, and the growing demand for personalized medicine are driving the demand for metagenomic sequencing in drug discovery. This presents a lucrative market opportunity for key players operating in the metagenomic sequencing market.
Global Metagenomic Sequencing Market Segmentation:
- By Technology:
- Sequencing
- Bioinformatics
- PCR
- Microarray
- Others
- By Product:
- Instruments
- Reagents & Consumables
- Services
- Analysis Softwares
- By Application:
- Drug Discovery
- Disease Diagnosis
- Environmental Remediation
- Gut Microbe Characterization
- Others
- By End User:
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
- Agriculture & Biofuel Companies
- Hospitals & Clinics
- Others
- By Region:
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- GCC Countries
- Rest of Middle East & Africa
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Top Questions Answered in this Report:
- What factors are impeding the growth of the Global Metagenomic Sequencing Market?
- What are the primary drivers fueling the growth of the Global Metagenomic Sequencing Market?
- Which segment dominates as the leading component in the Global Metagenomic Sequencing Market?
- Who are the key players actively participating in the Global Metagenomic Sequencing Market?
- Which region is expected to take the lead in the Global Metagenomic Sequencing Market?
- What is the projected CAGR of the Global Metagenomic Sequencing Market?
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