Portland, OR, March 19, 2019 (GLOBE NEWSWIRE) -- As per the report, the global metagenomics market accounted for $175.7 million in 2017 and is estimated to garner $523 million by 2024, registering a CAGR of 16.8% from 2018 to 2024. The report includes a CXO perspective, provides an in-depth analysis of major market segments, and outlines market dynamics.
Download Report Sample at https://www.alliedmarketresearch.com/request-sample/3724
Growth Drivers and Industry Trends
The global metagenomics market is divided into product, application, technology, and geography. On the basis of product, the market is segmented into instrument & software and consumable. The consumables segment dominated the market in terms of revenue, contributing about two-thirds of the total market share in 2017. However, the instruments & software segment is expected to grow at the fastest CAGR of 18.0% during the forecast period, owing to increase in adoption in experiments in DNA extraction, metagenomic analysis, amplification, and sequence binning.
Based on applications, the market is divided into sequencing and bioinformatics. The sequencing segment held the largest share, contributing more than three-fourths of the total market revenue in 2017. Moreover, the segment is estimated to manifest the fastest CAGR of 17.0% through 2024, owing to ease provided to scientists in examining an entire set of genes of organisms at once.
Segmentation Analysis of the Industry
On the basis of technology, the market is bifurcated into infectious disease diagnosis, environmental remediation, gut microbe characterization, biotechnology, biofuel, and agriculture. The infectious disease diagnosis segment is projected to portray the fastest CAGR of 17.5% during the forecast period, owing to increased prevalence of chronic diseases such as tuberculosis (TB), pneumonia, HIV/AIDS, condylomas, hepatitis B & C, and respiratory infections. However, the gut microbe characterization segment held the largest market share, contributing about one-third of the total market share in 2017 and is expected to maintain its dominance throughout the market period.
Purchase Inquiry at https://www.alliedmarketresearch.com/purchase-enquiry/3724
Based on geography, the market is divided into North America, Europe, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA). The North America region held the largest share in 2017, contributing about one-third of the market, owing to frequent new product launch and rapid developments in DNA sequencing. However, the Asia-Pacific region is projected to manifest the fastest CAGR of 17.9% through 2024, owing to increased development in healthcare infrastructure in the developing countries such as China and India.
Industry Key Players
The report includes the major market players such as Agilent Technologies, Inc., Enterome SA, Illumina, Inc., Pacific Biosciences of California, Inc., Qiagen N.V., F. Hoffmann-La Roche Ltd., Oxford Nanopore Technologies Ltd., PerkinElmer, Inc., Swift Biosciences, Inc., and Thermo Fisher Scientific, Inc.
About Us:
Allied Market Research (AMR) is a full-service market research and business -consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.