Dublin, March 11, 2024 (GLOBE NEWSWIRE) -- The "Global Metagenomics Sequencing Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The metagenomics sequencing market is currently witnessing an impressive growth trajectory, anticipated to surge from a substantial USD 2.34 billion in 2023 to an impressive USD 14.25 billion by 2034, registering a Compound Annual Growth Rate (CAGR) of 17.85% throughout 2024 to 2034. This burgeoning expansion is notably driven by a convergence of factors including but not limited to, groundbreaking advances in Next Generation Sequencing (NGS) technologies, an uptick in genetic disorders prevalence, and an infusion of investments earmarked for expansive sequencing ventures.
Technological Innovations Spearhead Market Expansion
At the forefront of this substantial market growth are technological innovations within the NGS platforms leading to more sophisticated, portable, and user-friendly systems. They promise expedited results with enhanced precision, bolstering the market's forward momentum. Examples include Thermo Fisher Scientific's introduction of an automated NGS platform and Illumina’s launch of high-throughput sequencers, both catalyzing the industry’s expansion.
Consumables Dominate Product Segment; Services Set to Trailblaze Growth
Reagents and consumables have claimed the largest revenue share in global metagenomics sequencing, with the segment benefitting from an increase in genomic library production and a surge in advanced system introductions. The services sector, however, is gearing up for the swiftest growth rate, propelled by the escalating focus on analytics and data interpretation solutions, coupled with technological advancements.
Technological Segmentation Reflects Advancements and Evolving Preferences
Dominating the technology realm, 16S rRNA sequencing continues to attract hefty investment due to precision and cost-effectiveness, paralleled by groundbreaking services such as Zymo Research’s comprehensive sequencing offering. Nevertheless, shotgun metagenomics sequencing is anticipated to register the most rapid growth owing to its comparative methodological advantages.
Sample Preparation Leads Workflow; Data Processing & Analysis Shows Robust Role
In workflow segmentation, sample preparation methodologies enjoy supreme status from an influx of cutting-edge processing tools, yet the data processing and analysis are on the fast track to becoming the fastest-growing sub-sector, thanks to progressive technology and a burgeoning database exemplified by Pattern Ag’s soil metagenomics.
Applications Span Variety with Drug Discovery Taking the Helm
With applications ranging from drug discovery to environmental metagenomics, it is drug discovery that is capitalizing on the largest market share attributed to the R&D upsurge and extant diseases. Yet, it is clinical diagnostics anticipated to leap forward in terms of CAGR, a consequence of growing pathogenic threat awareness and advancements in metagenomics study tools.
Geographically: North America Dominates; Asia-Pacific Anticipates Expedited Progress
North American markets continue to reign supreme, drawing strength from significant NGS investments and initiatives. However, Asia Pacific is projected to undergo the fastest growth, mirroring an increasing appetite for sequencing technologies and advanced solutions with providers like PerkinElmer enhancing their offerings to accommodate gene therapy research.
Segmentation Synopsis:
- By Product
- By Technology
- By Workflow
- By Application
- By Region
Strategic Market Investigation with Comprehensive Regional Analysis
This analysis further delves into a detailed segmentation of the market, scrutinizing product specifics from instruments and reagents to comprehensive services. It also encompasses an in-depth exploration of workflows and applications, ensuring a well-rounded comprehension of the market ecosystem. The detailed regional examination serves as a barometer for market penetration and innovation, particularly highlighting the dynamic natures of the North American and Asia Pacific regions. Through this lens, stakeholders can navigate market trends and opportunities with precision. With the promise of technological evolution and robust support structures, the metagenomics sequencing domain stands at cusp of an auspicious era, inviting stakeholders to a domain rife with opportunity and growth.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $2.34 Billion |
| Forecasted Market Value (USD) by 2034 | $14.25 Billion |
| Compound Annual Growth Rate | 17.8% |
| Regions Covered | Global |
Companies Mentioned
- Qiagen N.V.
- Swift Biosciences Inc.
- Thermo Fisher Scientific Inc.
- Oxford Nanopore Technologies Ltd.
- Perkinelmer Inc.
- Illumina Inc.
- BGI Genomics Co. Ltd.
- Macrogen Inc.
- Eurofins Scientific SE (Eurofins Genomics)
- Pacific Biosciences of California Inc.
For more information about this report visit https://www.researchandmarkets.com/r/boilck
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
