logo
logo
Sign in

Metagenomics Market Size is Predicted to Witness 14.8% CAGR till 2030

avatar
Sara James
Metagenomics Market Size is Predicted to Witness 14.8% CAGR till 2030

The global Metagenomics Market size is expected to reach USD 4.02 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 14.8% from 2023 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.

Related Press Release@ Metagenomics Market Report

List of Key Players in the Metagenomics Market

  • Bio-Rad Laboratories
  • Illumina, Inc.
  • PerkinElmer, Inc. 
  • Thermo Fisher Scientific, Inc.
  • Novogene Co., Ltd.
  • Promega Corporation
  • QIAGEN
  • Takara Bio, Inc.
  • Oxford Nanopore Technologies
  • F. Hoffmann-La Roche Ltd.

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 2022, 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 2022 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 Report Scope

Report Attribute

Details

Market size value in 2023

USD 1.53 billion

Revenue forecast in 2030

USD 4.02 billion

Growth rate

CAGR of 14.8% from 2023 to 2030

Base year for estimation

2022

Historical data

2018 - 2021

Forecast period

2023 - 2030

 

Metagenomics Market Segmentation

Grand View Research has segmented the global metagenomics market on the basis of technology, products, application, workflow, and region:

Metagenomics Product Scope Outlook (Revenue, USD Million, 2018 - 2030)

  • Kits & Reagents
  • Sequencing & Data Analytics Services
  • Software

Metagenomics Technology Scope Outlook (Revenue, USD Million, 2018 - 2030)

  • Shotgun Sequencing
  • 16S Sequencing
  • Whole Genome Sequencing
  • Others

Metagenomics Workflow Scope Outlook (Revenue, USD Million, 2018 - 2030)

  • Pre-sequencing
  • Sequencing
  • Data Analysis

Metagenomics Application Scope Outlook (Revenue, USD Million, 2018 - 2030)

  • Environmental
  • Clinical Diagnostics
  • Drug Discovery
  • Biotechnology
  • Food & Nutrition
  • Others

Metagenomics Regional Scope Outlook (Revenue, USD Million, 2018 - 2030)

  • North America
  • U.S.
  • Canada
  • Europe
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
  • Denmark
  • Sweden
  • Norway
  • Asia Pacific
  • Japan
  • China
  • India
  • South Korea
  • Australia
  • Thailand
  • Latin America
  • Brazil
  • Mexico
  • Argentina
  • Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Kuwait


collect
0
avatar
Sara James
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more