Metagenomics Market Size to Reach USD 5.2 Billion by 2032 with a CAGR of 14.5%
Acumen Research and Consulting recently published report titled “Metagenomics Market Forecast, 2023 – 2032”
LOS ANGELES, Aug. 28, 2023 (GLOBE NEWSWIRE) — The Metagenomics Market is expected to witness robust growth owing to the increasing research activities, rising funding for genomic studies, growing adoption of metagenomic sequencing, and increasing prevalence of genetic and infectious diseases globally.
The Metagenomics Market outlook remains positive, fueled by increasing research activities, rising funding for genomic studies, growing adoption of metagenomic sequencing, and increasing prevalence of genetic and infectious diseases. This article provides a thorough metagenomics market analysis including size, share, latest trends, drivers, challenges and key companies.
Metagenomics is the study of genetic material from environmental samples. It is a relatively new field of research that has the potential to revolutionize our understanding of the microbial world. Metagenomics can be used to identify the types of microbes present in a sample, as well as their genetic diversity. This information can be used to study the ecology of microbial communities, to identify new microbes with potential applications, and to track the spread of disease. Metagenomics is a powerful tool that can be used to answer a wide range of questions about the microbial world. It is a rapidly growing field of research with the potential to make significant contributions to our understanding of life on Earth.
Metagenomics Market Statistics and Highlights:
- Metagenomics Market Size to hit USD 5.2 Billion by 2032, expanding from the value of USD 1.4 Billion in the year 2022, progressing at a CAGR of 14.5% during 2023-2032.
- North America captured a dominant revenue share exceeding 46% in 2022.
- By product & service, the kit and reagents segment accounted for over 61% share in 2022.
- Increasing adoption in clinical diagnostics is propelling the market growth.
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Granola Market Report Coverage:
|Metagenomics Market Size 2022||USD 1.4 Billion|
|Metagenomics Market Forecast 2032||USD 5.2 Billion|
|Metagenomics Market CAGR During 2023 – 2032||14.5%|
|Metagenomics Market Analysis Period||2020 – 2032|
|Metagenomics Market Base Year||2022|
|Metagenomics Market Forecast Data||2023 – 2032|
|Segments Covered||By Product, By Technology, By Workflow, By Application, And By Geography|
|Metagenomics Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Illumina, Inc., Thermo Fisher Scientific, Inc., QIAGEN N.V., PerkinElmer, Inc., Oxford Nanopore Technologies, Pacific Biosciences of California, Inc. (PacBio), BGI Group, Microbiome Insights, CosmosID, Novogene Corporation, and Second Genome|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Analysis of Key Metagenomics Market Dynamics:
The Metagenomics Market is expected to grow significantly in the coming years. This growth is being driven by a number of factors, including the expanding application of metagenomics in clinical diagnostics, the rising adoption of metagenomic sequencing, advancements in genomic analysis tools, and the growing microbiome research field. However, there are a number of challenges that could limit the growth of the metagenomics market. These challenges include technical difficulties, the complexity of data analysis, and limited in-house expertise. Despite these challenges, the metagenomics market is expected to grow significantly in the coming years. This growth will be driven by the development of new technologies, the increasing adoption of metagenomics by healthcare providers, and the growing demand for personalized medicine. Cloud computing, strategic alliances, and widening applications beyond R&D are expected to shape the future of the metagenomics market.
Latest Innovations and Trends:
Leveraging machine learning and big data analytics to obtain disease insights from microbial datasets.
- Shift towards long-read high-throughput sequencing technologies.
- Growing industry-academia research focused on the human microbiome.
- Widening applications in environmental, agriculture and biotechnology sectors.
- Development of bioinformatics solutions focused on scalable and high-speed analysis.
Major Factors Propelling Metagenomics Market Growth:
- Increasing research focused on the relationships between microbiome and diseases.
- Advances in high-throughput sequencing, big data analytics and biocomputing.
- Growing metagenomic sequencing adoption enabling cost-effective analysis.
- Expanding application scope beyond R&D into diagnostics and other fields.
- Favorable investments in genomic research from public and private sectors.
Key Challenges Hindering Metagenomics Market Potential:
- Technical difficulties and the complexity involved in sample preparation and data analysis.
- Lack of in-house expertise in complex genome analysis and annotation.
- Requirement of high computational capabilities for efficient data processing.
- Unclear regulatory guidelines regarding metagenomic-based diagnostic tools.
- Data accuracy and reproducibility concerns affecting reliability.
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Metagenomics Market Segmentation:
Based on the Product
- Sequencing & Data Analytics Services
- Kits & Reagents
Based on the Technology
- Whole Genome Sequencing
- 16S Sequencing
- Shotgun Sequencing
Based on the Workflow
- Data Analysis
Based on the Application
- Clinical Diagnostics
- Drug Discovery
- Food & Nutrition
Metagenomics Market Regional Outlook:
North America currently holds the leading position in the Metagenomics market. This is due to the extensive research activity that is being carried out in the region. Asia Pacific is expected to exhibit rapid growth over the coming years due to the rising investments in biotechnology. Europe currently accounts for the second largest share in the market.
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Leading Companies Offering Metagenomics Products & Services:
Major players include Illumina Inc., QIAGEN N.V., PerkinElmer Inc., Thermo Fisher Scientific Inc., Oxford Nanopore Technologies, GENEWIZ, Eurofins Scientific, Macrogen, Inc., Novogene Co. Ltd., and Zymo Research Corp., among others.
In summary, driven by microbiome research and diagnostics adoption, the metagenomics market is primed for robust growth globally through 2032.
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