Metagenomic Sequencing Market by Product & Services (Reagent, Consumables, Instrument), Workflow (Sample Preparation, Sequencing), Technology (16S rRNA, Shotgun, Whole-genome), Application (Drug Discovery, Diagnostic), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Metagenomic Sequencing Market size is projected to reach a CAGR of 19.1% from 2023-2030.
"Metagenomics" is the two words "meta" and "genomics". So, genomics is obtaining the DNA sequence, but meta implies that we're doing it of many organisms together. And metagenomics is usually used when we are studying microbial communities where we can't separate one microbe from another. Like there may be two bacteria that grow together, and so when you take the DNA sequence, you're getting the DNA sequence of two bacteria together.
Growth in the Metagenomic Sequencing Market can largely be attributed to factors such as Growth in the metagenomic sequencing market is mainly driven by continuous technological innovations in NGS platforms, increasing initiatives and funding from government & private bodies for large-scale sequencing projects, declining costs of genome sequencing, and the significant applications of metagenomics in various fields. Continuous technological innovations in sequencers have enabled the introduction of efficient, portable, and easy-to-use NGS platforms, capable of providing rapid and accurate results and boasting improved turnaround times. The introduction of such products and technologies provides an immediate competitive edge to players; as a result, prominent companies are increasingly focusing on R&D to strengthen their market positions and shares.
On the other hand, lack of skilled professionals and requirement of advance, more efficient and robust bioinformatics tools hamper the growth of the market.
The overall impact of COVID-19 pandemic is likely to remain positive for the metagenomics sequencing market. As, throughout the COVID-19 pandemic, clinical diagnostics and testing is a critical component of the response and is on a rapid increase with the rise in number of cases, which enables rapid identification and isolation of infected individuals. The majority of this testing is PCR-based, detecting the presence of the SARS-CoV-2 virus; thereby, having a positive impact on the market.
The need for microbiome analysis and an increased understanding of the importance of the microbiome to human health are driving the market for metagenomic sequencing, which is expanding quickly. Metagenomic sequencing is now more widely used in a variety of applications, including drug discovery, environmental monitoring, and disease diagnosis. This is because the development of high-throughput sequencing technologies has made it simpler and more affordable to sequence large amounts of genetic material from complex samples. The market for metagenomic sequencing is predicted to continue expanding at a rapid clip, with North America being the largest regional market, followed by Europe and Asia-Pacific. Overall, the market for metagenomic sequencing offers enormous prospects for businesses engaged in the sector. Companies may obtain a competitive edge and take a piece of the expanding market by investing in R&D activities, releasing new goods, and developing strategic alliances and collaborations.
North America to Dominate the Market