Pune, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The global metagenomic sequencing service market is expected to register robust revenue CAGR over the forecast period. Key factors such as rapid advancements in next-generation sequencing platforms, growing prevalence of various genetic disorders and pathogenic diseases, and ongoing research on metagenomic sequencing are expected to drive global market growth during the forecast period.
Metagenomics is the study of structure and function of entire nucleotide sequences of organisms directly isolated from the environment. This method provides details about species diversity and abundance, evolutionary relationships, functional genes, and population structure. Metagenomic sequencing techniques such as shotgun metagenomic sequencing, 16S rRNA sequencing, metatranscriptomics, whole-genome sequencing & de novo assembly enable researchers and scientists to analyze genes in the given sample and access bacterial diversity and presence of microbes in different environments. Some of the key steps in metagenomic sequencing include DNA extraction, library preparation, sequencing, assembly, and statistical analysis.
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Metagenomic sequencing services are widely used for drug discovery, infectious disease diagnosis, ecological and environmental applications, gut microbe characterization, veterinary, clinical diagnostics, and soil microbes. Factors such as rising popularity of shotgun metagenomic sequencing technology, increasing funds by government and private organizations for large-scale sequencing projects, improving research infrastructure and facilities, and rising investments in research & development activities are expected to boost global market growth during the forecast period.
However, high costs of metagenomic sequencing products and services, low adoption of advanced sequencing techniques due to budget constraints and inadequate infrastructure, and challenges associated with metagenomic NGS are expected to hamper global market growth in the coming years.
Metagenomic Sequencing Service Market Analysis By Company:
- Illumina
- Thermo Fischer Scientific
- QIAGEN NV
- PerkinElmer
- Oxford Nanopore Technologies, Plc
- GATC Biotech
- Enterome Bioscience
- Quest Diagnostics
- Roche
- CLC Bio
- Agilent Technologies
- Macrogen
- Helicos BioSciences
Metagenomic Sequencing Service Industry Recent Developments:
- In March 2022, Diversigen, a subsidiary of OraSure Technologies, Inc. announced the launch of a new service for providing metatranscriptomic sequencing and analysis of gut microbiome samples.
- In June 2022, Oxford Nanopore announced the release of a novel workflow for rapid metagenomic characterization of RNA and DNA viruses.
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The global metagenomic sequencing service market has been segmented based on type, application, and region:
Market Segment by Type:
- Shotgun Metagenomic Sequencing
- 16S rRNA Sequencing
- Metatranscriptomics
- Whole-Genome Sequencing & De Novo Assembly
16 rRNA Sequencing Segment To Register Rapid Revenue CAGR:
The 16 rRNA sequencing segment is expected to register rapid revenue growth during the forecast period attributable to rapid advancements in sequencing technology, growing inclination towards 16 rRNA sequencing due to higher accuracy, faster results, and cost-effectiveness, and ongoing research on 16 rRNA PCR with next-generation sequencing.
Market Segment by Application:
- Clinical Diagnostics
- Gut Microbe Characterization
- Drug Discovery
- Biofuel
- Agriculture
- Others
Drug Discovery Segment to Account for a Significantly Larger Revenue Share:
The drug discovery segment is expected to account for a significantly larger revenue share during the forecast period. This can be attributed to growing prevalence of several genetic disorders, rising need for effective drugs and treatment, rising research-based activities on different drug discoveries, and availability of favorable research funding by public and private organizations.
Market Segment by Region:
- North America (USA, Canada)
- Europe (Germany, France, UK, Italy, Russia)
- Asia Pacific (China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam)
- Latin America (Brazil, Argentina)
- Middle East & Africa (Turkey, Saudi Arabia, U.A.E)
North America to Lead In Terms of Revenue Share:
North America is expected to account for largest revenue share in the global market during the forecast period owing to factors such as rising prevalence of genetic disorders, continuous advancements in NGS platforms, presence of well-developed research facilities and infrastructure, and declining costs of genome sequencing. In addition, presence of leading manufacturers, rising funds by private and public sectors, and high usage of metagenomic sequencing for drug delivery, clinical diagnostics, and agriculture among others are expected to drive North America market growth between 2023 and 2028.
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Key Questions Addressed:
- What revenue CAGR is the global market expected to register during the forecast period?
- Which key players are leading in the global metagenomic sequencing service market?
- What is the expected market size of the global metagenomic sequencing service market between 2023 and 2028?
- What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
- What are some of the key challenges that the global market is expected to face during the forecast period?
- Which region is expected to account for largest revenue share over the forecast period?
Key Reasons to Purchase:
- Estimates 2023 to 2028 metagenomic sequencing service market current market trends and development trends
- Market dynamics along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the metagenomic sequencing service market
- Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
- Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
- Brief about impact of COVID-19 on the global metagenomic sequencing service market
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