Press release
Metagenomics Market is Expected to Grow at USD 6.3 Billion by 2032 | Bio-Rad Laboratories; Illumina, Inc.; PerkinElmer, Inc.; Thermo Fisher Scientific
The global Metagenomics Market was valued at USD 1.6 Billion in 2022 and it is anticipated to grow up to USD 6.3 Billion by 2032, at a CAGR of 14.7% during the forecast period.Get Access to A Free Sample Copy of Our Latest Report - https://www.globalinsightservices.com/request-sample/GIS10517
Metagenomics comprises studies that use sequencing technologies and bioinformatics tools to obtain useful insights on the diversities in the microbial community and interaction of the microbes in a community. Metagenomic technologies have enabled improved understanding of the microbial ecology and the role of microbiology in the global geochemical cycles through functional metagenomics. In addition, metagenomic studies have allowed researchers to tap into a vast microbial diversity, which was left unaddressed with the conventional microbiology methods.
Market Trends and Drivers
The growth of the global metagenomics sequencing market is majorly driven by growth in demand for drug discovery, clinical diagnostics, and increase in prevalence of genetic disorder. In addition, metagenomic technologies enable the study of microbial communities as entire units without entailing the need of cultivating them. As uncultivability and genomic diversity serve as the two major roadblocks in the advancements of environmental and clinical microbiology, metagenomics has gained immense traction among the healthcare professionals and researchers. The advancement in metagenomics sequencing technologies is projected to increase the growth opportunities for the metagenomics sequencing market.
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Major Players in the Global Metagenomics Market
The key players in the Metagenomics Market are Bio-Rad Laboratories; Illumina, Inc.; PerkinElmer, Inc.; Thermo Fisher Scientific, Inc.; Novogene Co., Ltd.; Promega Corporation; QIAGEN; Takara Bio, Inc.; Oxford Nanopore Technologies; and F. Hoffmann-La Roche Ltd., among others.
COVID-19 Impact:
The revenue growth strategy is implemented by expanding its offering in infectious diseases across the U.S. Metagenomics played a vital role in developing a vaccination for COVID-19 through sequencing technology. Numerous players extended sequencing programs for efficient monitoring of mutation for supporting the development of effective COVID-19 vaccines. For instance, in December 2021, researchers from the University of Calgary conducted a study on the use of metagenomics workflow in the identification of COVID-19 and its variants. The study concluded that the metagenomics technique can be useful when pathogens emerge. Similarly, in April 2020, the overall COVID-19 vaccination R&D included 115 vaccine candidates. Around 72% of vaccines were developed by private players, while 28% were as developed as collaborative projects led by academic, public sector, and other nonprofit organizations.
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However, by February 2022, participation by Latin American and MEA regions impacted the regional growth, owing to increasing biotech startups and rising initiatives by international players to establish a domestic manufacturing facility in the regions to facilitate the supply & distribution.
Global Metagenomics Market Segmentation
By Product
Kits & Reagents
Sequencing & Data Analytics Services
Software
By Technology
Shotgun Sequencing
16S Sequencing
Whole Genome Sequencing
Others
By Application
Environmental
Clinical Diagnostics
Drug Discovery
Biotechnology
Food & Nutrition
Others
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