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Metagenomic Sequencing Market Worth $2.3 Billion by 2024 - Exclusive Report by MarketsandMarkets™

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MarketsandMarkets

Sep 13, 2019, 08:30 ET

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CHICAGO, Sept. 13, 2019 /PRNewswire/ --  According to the new market research report "Metagenomic Sequencing Market by Workflow (Sample Preparation, Data Analysis), Product & Services (Reagents, Consumables, Instruments), Technology (Shotgun, 16s Rrna, Whole-Genome), Application (Diagnostic, Soil Microbiome) - Global Forecast to 2024", published by MarketsandMarkets™, 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%.

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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 availability of cloud computing for data management is another factor providing market players with growth opportunities. 

Reagents & consumables accounted for the largest share of the Metagenomic Sequencing Market, in 2018.

On the basis of products & services, the Metagenomic Sequencing Market is segmented into reagents & consumables, instruments, services, and analysis & data interpretation solutions. Of all these segments, reagents & consumables accounted for the largest share of the market in 2018. 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 accounted for the largest share of the Metagenomic Sequencing Market in 2018.

Based on workflow, the market has been segmented into sample processing & library preparation, sequencing, and data processing & analysis. Sample processing & library preparation accounted for the largest share of the Metagenomic Sequencing Market in 2018. The large share of this segment 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.

Browse in-depth TOC on "Metagenomic Sequencing Market"

60 – Tables

30 – Figures   

149 – Pages

The shotgun metagenomic sequencing technology is expected to witness the highest growth rate 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 accounted for the largest share of the Metagenomic Sequencing Market in 2018.

Based on applications, the 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 accounted for the largest share of the Metagenomic Sequencing Market in 2018. 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.

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The Asia Pacific region is projected to grow at the highest CAGR during the forecast period.

On the basis of region, the market has been classified into-North America, Europe, the Asia Pacific, and the RoW. The Asia Pacific regional segment, on the other hand, is expected to grow at the highest CAGR of 18.3% 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.

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).

Browse Adjacent Markets: Biotechnology Market Research Reports & Consulting

Browse Related Reports:

Next-Generation Sequencing (NGS) Market by Product (NovaSeq, NextSeq, Sequel, Nanopore), Consumables, Bioinformatics, Services (Exome, RNA, DeNovo), Technology (Ion, SMRT), Application (Diagnostics, Cancer), End User (Academia) - Global Forecasts to 2024

NGS Sample Preparation Market by Product (Reagent, Workstations), Workflow (Library Preparation [DNA, RNA], Target Enrichment), Application (Infectious Disease, Cancer Diagnostics), Technology (SMRT, Nanopore) - Forecast to 2024

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/metagenomic-sequencing-market.asp 
Visit Our Website: https://www.marketsandmarkets.com 
Content Source: https://www.marketsandmarkets.com/PressReleases/metagenomic-sequencing.asp

SOURCE MarketsandMarkets

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