Microbiome Sequencing Services Market worth $555 million by 2028

Microbiome Sequencing Services Market in terms of revenue was estimated to be worth $284 million in 2022 and is poised to reach $555 million by 2028, growing at a CAGR of 14.3% from 2022 to 2028 according to a new report by MarketsandMarkets™. Key driving factors of the microbiome sequencing services market growth include, expanding applications for metagenomic sequencing, high focus on development of human microbiome therapeutics, and high costs associated with sophisticated sequencing instruments. In recent years, there has been a significant increase in the demand for metagenomic sequencing in the field of microbiome research owing it its wide array of applications, such as disease diagnosis, drug discovery, and precision medicine. This is expected to boost the market growth.

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The sequencing and library preparation services segment accounted for the largest share of the microbiome sequencing services market in 2022

Based on service, the microbiome sequencing services market is segmented into sample preparation services, sequencing and library preparation services, and data analysis services. Sequencing and library preparation services are expected to dominate market through the forecast period. This segment includes sequencing and library preparation services for samples subjected to microbiome sequencing. This is a crucial step in microbiome analysis, wherein either reference sequences are created for samples or sequencing outputs are compared against the existing sequences.

The shotgun sequencing segment is expected to grow at the highest CAGR from 2023 to 2028

Based on type, the global microbiome sequencing services market is segmented into amplicon sequencing, whole-genome sequencing, shotgun sequencing, and other types. Advancements in data analysis solutions is expected to drive the adoption of shotgun sequencing, rendering this segment with a highest growth rate. Shotgun sequencing is a relatively new approach used to analyze many organisms present in a given complex sample and comprehensively sequence all genes.

The academic and research institutes segment accounted for the largest share of the global microbiome sequencing services market in 2022

Based on end user, the global microbiome sequencing services market is segmented into pharmaceutical and biotechnology companies, academic and research institutes, and other end users. Expanding applications of microbiome research is expected to drive the growth of academic and research institutes end user segment. This segment is inclusive of the application of microbiome sequencing services in environmental and ecological research, veterinary research, and other research activities conducted by academic and research institutes.

North America dominates the global microbiome sequencing services market throughout the forecast period

The microbiome sequencing services market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2022, North America accounted for the largest share in the microbiome sequencing services market, which is attributed to the established research infrastructure, technological advancements, and demand for precision medicine. There has been a growing recognition of the role of the microbiome in various conditions, including gastrointestinal disorders, metabolic diseases, neurodegenerative diseases, and immune-related disorders. This increased awareness has led to a rising demand for microbiome sequencing services to better understand the complex interactions between the human microbiome and host health, as well as to develop targeted interventions and therapies in turn contributing to the regional revenue growth.

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Microbiome Sequencing Services Market Dynamics:

Drivers:

Increased Focus on Human Microbiome Therapy
Human Microbiome as New Validated Target for Drug Development
Human Microbiome for Early Disease Detection and Diagnosis

Restraints:

Lack of Expertise and Detailed Research
Barriers in Proving the Causal Link Between Dysbiosis and Disease

Opportunities:

Investigational New Drug (IND) Requirements for Fecal Microbiota
Increasing Collaborations Create Growth Opportunities

Challenges:

Government Regulations
Burning Issues

Abundant Opportunities in the Human Microbiome Field and Tremendous Research Investments
Development of Human Microbiome Therapeutic Products

Key Market Players:

The microbiome sequencing services market is fragmented in nature with a large pool of local service providers/emerging players operating in this market. Some of the prominent market players include Charles River Laboratories (US), Eurofins Scientific (France), BGI (China), CosmosID (US), Microba (Australia), QIAGEN (Germany), Microbiome Insights (Canada), BaseClear (Netherlands), CD Genomics (US), Zymo Research (US), OraSure Technologies (US), MR DNA (US), Eremid Genomic Services (US), Clinical-Microbiomics A/S (Denmark), Novogene Co., Ltd. (China), EzBiome (US), Boster Biological Technology (US), Zifo (India), omics2view.consulting GbR (Germany), and Macrogen, Inc. (South Korea).

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Recent Developments:

In March 2023, Microba launched a new human gut microbiome testing service for comprehensive gastrointestinal testing solutions. The solutions are accessible to healthcare professionals in Australia through a different brand name, Co-Biome.

In February 2023, Locus Biosciences announced a long-term partnership with CosmosID to gain the support of the latter for clinical trial studies. CosmosID's support for microbiome analysis is expected to assist Locus Biosciences in strengthening its precision therapeutics platform.

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This release was published on openPR.