Pune, India, Oct. 20, 2023 (GLOBE NEWSWIRE) -- Metagenomics can be defined as the study of the metagenome, which is collective genome of microorganisms. The microorganisms samples are collected from environmental and the studies are performed to provide information on the microbial diversity and ecology of a specific environment. The study of microorganism is conducted through the shotgun technique, which is used to extract the DNA from the environmental sample and sequence the small fragments.
According to our latest study on “Metagenomics Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product and Application ," The global metagenomics market is expected to reach $314.3 Mn by 2027 from $165.8 in 2018 to grow with a CAGR of 7.7% from 2019-2027. Key factors driving the growth of the market across the globe are the increasing venture capital investments, advantages of metagenomics in biotechnology and industrial application of metagenomics likely to have a positive impact on the growth of the market in the coming years. However, high capital cost of metagenomics is anticipated to restrain the market growth.
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Global Metagenomics Market Analysis: Competitive Landscape and Key Developments
The key players that operate in the metagenomics market across the globe are Merck KGaA, Thermo Fisher Scientific Inc., Agilent Technologies, Qiagen, Bio-Rad Laboratories, Inc., PerkinElmer Inc., and Illumina Inc., F. Hoffman-La-Roche Ltd., Oxford Nanopore Technologies Ltd., Pacific Bioscience of California, Inc., among which currently Illumina Inc. is the major market player. Various companies have made organic growth strategies in the Metagenomics Market. Some of the activities undertaken by the company which has promoted its growth are product launches, expansion, and others.
In October 2022, Lavoro, Brazil’s largest agricultural inputs retailer and soil metagenomics leader Pattern Ag entered into an exclusive partnership to predict crop risks and nutrient deficiencies for farmers in Brazil. Under the partnership, Lavoro and Pattern Ag will deliver services to Latin American farmers that will use DNA sequencing and software-based tools to improve crop yields while minimizing the costs, water, land, and carbon footprint.
In November 2022, US-based Tiny Health, a gut health testing company, received $4.5M in funding to launch the first at-home microbiome gut test that will aid parents in monitoring and optimizing newborn's gut health development from conception onwards. The company processes all tests in a CLIA-certified lab with shotgun metagenomics sequencing technology.
In August 2022, BIOHM, the leading microbiome company guided by cutting-edge science, launched a suite of services for microbiome innovators. With its state-of-the-art laboratories and vast microbiome datasets that combine bacterial and fungal sequencing, BIOHM offers partnership opportunities in bioinformatics, ingredient formulation, testing, and clinical trial support.
Global Metagenomics Market Trends:
Extensive research for microbial studies is being conducted to study the genetic makeup of microorganisms. The microbial sample collected from the environmental resources owes the huge diversity in their genes. The study have helped discover antibiotics and are expected to assist more in drug discovery in the future. The current trend of molecular-based approaches has enabled the field of metagenomics to study uncultured microorganisms.
Metagenomics has also helped in a huge way for clinical diagnostics. Clinical diagnostics is the current trend going on across the world. Also, extensive research has been going on currently for the environmental sectors. Also, metagenomics can potentially discover products for biotechnology, agriculture, food technology, and others. The potential of metagenomics in the pharmaceuticals owes to the large hopes for growth opportunities for the market players. Also, novel innovations from the market players will likely discover solutions for chronic infectious diseases.
The initial cost of the primary setup for metagenomics is very high; however, the technological advancement and the efforts by market leaders such as Illumina Inc. and Pacific Bioscience of California Inc., among others, will likely meet this challenge. These market players are aggressively working to provide cost-effective solutions for metagenomics studies. The healthcare industry will likely experience positive outcomes in the future.
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Global Metagenomics Market - Regional Overview:
Global metagenomics market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. The Asia Pacific metagenomics market is expected to grow at the fastest CAGR during the forecast period. Metagenomics is an established market in countries such as China and India, whereas, with some recent development in country such as Japan therefore, it is expected that the demand is expected to generate from the countries mentioned above. Additionally, factors such as increasing investments by the governments of the respective countries in the region. The rise in the collaborations among the Asian and Western countries for the research activities and the extensive genomic research in China and India will likely drive the metagenomics market in the forecast period.
The “Global Metagenomics Market” is segmented based on product, application, and geography The product segment of the metagenomics market is broadly segmented into instruments & software and consumables. The consumables market for metagenomics in 2018 held the major market share and is expected to retain its dominance during the forecast period from 2019 to 2027. The application segment of the metagenomics market is broadly segmented into clinical diagnostic, drug discovery metagenomics and others. Other metagenomics applications include identifying innovative biocatalysts, discovering new antibiotics, and personalized medicine. The clinical diagnostics market for metagenomics in 2018 held the major share and is expected to retain its dominance during the forecast period from 2018 to 2027.
Go through further research published by The Insight Partners:
Metagenomic Sequencing Market- Global Analysis and Forecast to 2030
Human Microbiome Market- Global Analysis and Forecast to 2028
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