DUBLIN, Nov. 30, 2022 /PRNewswire/ -- The "Metagenomics Market Size, Share & Trends Analysis Report by Technology (Shotgun Sequencing, 16S Sequencing), by Product, by Workflow, by Application (Clinical Diagnostics, Environmental), by Region, and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The global metagenomics market size is expected to reach USD 4.87 billion by 2030. The market is projected to expand at a CAGR of 14.4% from 2022 to 2030
The increasing research in genomics and proteomics, the rising adoption of personalized medicines, and escalating requirement for biologic products are driving the demand for sequencing, fueling the growth of the industry.
For instance, in August 2022, Illumina, Inc. announced its plans to expand genomics operations in Brazil by developing a solution center. The establishment of the new facility is the result of rising demand for clinical genomics and accelerating the company's footprint in Latin America.
A boost in R&D investments by the players is estimated to have a considerable impact on the usage of metagenomics in numerous applications. For instance, in April 2021, Agilent Technologies, Inc. acquired Resolution Bioscience, Inc., an NGS-based precision oncology solution developing company.
The combination of Resolution Bioscience's noninvasive liquid biopsy platform with Agilent's tissue-based companion diagnostics is anticipated to expand Agilent's market position in NGS technologies for precision oncology.
Another factor contributing to the high adoption of metagenomics for environmental use is the direct involvement of microorganisms in the biogeochemical cycle. The degradation of carbon sources such as petroleum hydrocarbons by microbes has encouraged researchers to study metagenomics processes for the production of biofuels.
In addition, the presence of a large number of undiscovered biomolecules in non-cultured microorganisms accelerated the adoption of metagenomics in agriculture, food safety, chemical, industrial, and other related applications.
Since the outbreak of COVID-19, key stakeholders in the life sciences and biotechnology industry are seeking solutions for COVID-19 tracking, detection, and treatment. Metagenomics analysis plays a crucial role in the detection and tracing of the virus. Various sequencing surveillance platforms and solutions are being deployed for effective diagnosis of infection.
For instance, in May 2021, Oxford University and Oracle announced a strategic partnership to develop robust cloud-based genomic sequencing and analysis platform to mitigate the risk of coronavirus infection.
Moreover, funds provided by the government for promoting research in academic institutes, which use NGS platforms, further increase the usage of metagenomics tools. For instance, in February 2021, the Canadian government invested USD 53 million to implement a multilayered approach for the diagnosis of COVID-19. The Canadian government will utilize genome sequencing and analysis technologies to achieve desired outcomes.
The quality of data generated through metagenomics is another factor that increases the cost of analysis. The quality of data is highly dependent on the average number of times the bases are run during the sequencing process. The high-quality analysis is expensive.
However, the adoption of emerging novel techniques, such as RNA-Seq, is rapidly increasing owing to accuracy and rapid results along with a decline in prices. It is observed that the cost of sequencing falls 5 to 10 times every year and the value of computing power doubles every two years.
Metagenomics Market Report Highlights
By product, the kits & reagents segment accounts for the largest market share. The demand in terms of volumes is high for these products. High market penetration of kits and reagents further contributes toward their highest revenue share
By technology, the shotgun sequencing segment is estimated to have the largest share with the fastest CAGR over the forecast period. The advantages such as the ability to read all genomic DNA in a sample give a competitive edge to the technology resulting in the growing adoption of shotgun sequencing among researchers
By application, the clinical diagnostics segment is anticipated to have the fastest CAGR throughout the forecast period. Owing to the research initiatives for the development of personalized therapies using sequencing technology are expected to impact growth in the area of clinical research, hence, propelling the growth
By workflow, the sequencing segment held the largest share in 2021, owing to the adoption of easy workflow models, demand for rapid results, and lower cost of per sample analysis compared to the price of systems driving the demand for sequencing & data analytics services
North America dominated the global metagenomics industry in 2021 owing to the presence of well-established marketing and distribution network of major companies and large-sized research & academic institutes, which focus on genomic studies
A few of the key players include Illumina. Inc.; Thermo Fisher Scientific, Inc.; QIAGEN; and Promega Corporation
Metagenomics Market Variables, Trends & Scope
Market Driver Analysis
Declining expenses of sequencing
Developments in biotechnology & bioinformatics techniques
Rising interest in microbial screening for different investigations
Emergence of new fields in genomics that complement metagenomics
Market Restraint Analysis
Limited accessibility to computation and different analytic tools
High overall cost of metagenomics
Penetration & Growth Prospect Mapping for Application, 2021
Metagenomics Market - SWOT Analysis, By Factor (political & legal, economic and technological)
Industry Analysis - Porter's
COVID-19 Impact Analysis
Thermo Fisher Scientific, Inc
Bio-Rad Laboratories, Inc.
Oxford Nanopore Technologies
Takara Bio, Inc.
Novogene Co. Ltd.
F. Hoffmann-La Roche Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ibqd4r
Research and Markets
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