Rockville, Sept. 12, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global Metagenomic Sequencing Market is expected to rise at a CAGR of 17.6% to reach a value of US $7.1 Bn by the end of 2033.
Metagenomic sequencing is a method in genetics that helps scientists explore the genetic material in complex mixtures of organisms, like those found in soil, water, or our bodies. Unlike traditional methods that focus on one organism at a time, metagenomic sequencing looks at all the genetic information in a sample. This is really useful because it allows us to discover new and hidden microorganisms, understand what they do, and even find potential treatments or solutions.
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Key Segments of Metagenomic Sequencing Industry Research Report
| By Product & Service | By Workflow | By Technology | By Application |
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The growth of the Metagenomic Sequencing Market is primarily driven by a couple of main factors. The increasing awareness and understanding of the complex microbial communities in various environments, including human microbiomes and ecosystems, is fueling demand for metagenomic sequencing technologies. Additionally, advancements in sequencing technologies and bioinformatics tools have significantly reduced the cost and time associated with metagenomic studies, making them more accessible to researchers across diverse fields.
Key Takeaways:
- The US market is expected to witness a CAGR of ~15% during the forecast period (2023-2033). Moreover, the US market has occupied a market value of US $ 2.5 Bn in 2033. Moreover, the market in the UK is expected to grow at 16.8% during the forecast period.
- Besides this, the Chinese market is expected to witness a CAGR of 17% during the forecast period (2023-2033)
The industry is primarily driven by the growing awareness of complex microbial communities, advancements in sequencing technologies and bioinformatics tools, and the expanding applications in diverse fields such as healthcare, agriculture, and environmental monitoring. - Says Fact.MR Expert
Market Competition
This market is highly competitive, and several prominent companies and research institutions are actively engaged in developing and providing metagenomic sequencing solutions. Companies such as Illumina, Thermo Fisher Scientific, Oxford Nanopore Technologies, and Pacific Biosciences are key players in this market, offering a range of sequencing platforms and associated technologies.
- For instance, In July 2021, Pacific Biosciences announced a collaboration with Invitae, a leading company in medical genetics. This venture aims to integrate PacBio's long-read sequencing technology with Invitae's extensive expertise in clinical genetics testing, ultimately resulting in the development of a high-throughput sequencing platform tailored for genetic testing purposes.
| Report Attributes | Details |
| Forecast Period | 2023 – 2033 |
| Value Projection (2031) | US$ 7.1 Billion |
| Growth Rate (2022-2031) | 17.6% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 30 Tables |
| No. of Figures | 150 Figures |
Key Companies Covered
Illumina, Inc., Thermo Fisher Scientific, QIAGEN, PerkinElmer, Inc., Oxford Nanopore Technologies Plc., Pacific Biosciences of California, Inc., BGI Group, Psamogen, Inc., Eurofins Scientific, Azenta Life Sciences, Novogen Co. Ltd., Zymo Research Corporation, Tecan Trading AG, Integragen SA, Microsynth AG
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Winning strategies
- To succeed in the industry, it's crucial for leading companies to focus on research and development. They should dedicate significant resources to creating state-of-the-art sequencing technologies that offer better precision, faster processing, and cost-effectiveness. This means developing tools that provide highly accurate genetic information, handle more samples efficiently, and are affordable for a wider range of users.
- Companies should actively focus on growing regions like Asia-Pacific and Latin America. These areas have a high potential for economic and technological development. By targeting these markets, companies aim to introduce their products and services to new customers who may be less familiar with these technologies.
- In the market, providing training programs, workshops, and educational resources is crucial. These initiatives empower researchers and healthcare professionals to make the most of metagenomic sequencing technologies.
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