Metagenomic Sequencing Market worth $4.5 Billion | MarketsandMarkets

CHICAGO, July 25, 2023 /PRNewswire/ -- In the near future, the metagenomic sequencing industry is poised to undergo a transformative revolution, becoming a pivotal driving force in diverse fields such as healthcare, agriculture, environmental science, and beyond. Advancements in sequencing technologies, data analytics, and computational capabilities will propel metagenomic studies to unprecedented heights, allowing for comprehensive and precise analysis of entire microbial communities within various ecosystems. This will lead to groundbreaking discoveries of novel microorganisms, potential therapeutic agents, and insights into the intricate relationships between microbes and their environments. Metagenomic sequencing will play an integral role in personalized medicine, empowering clinicians to tailor treatments based on an individual's unique microbiome composition, resulting in more effective disease management and prevention strategies. Moreover, metagenomics will facilitate sustainable agriculture by enhancing soil health and crop productivity through the identification of beneficial microbes. As the metagenomic sequencing industry continues to thrive, it will undoubtedly unlock a myriad of opportunities to address pressing global challenges, shaping a promising future of discovery and innovation.

Metagenomic Sequencing Market in terms of revenue was estimated to be worth $2.0 Billion in 2023 and is poised to reach $4.5 Billion by 2028, growing at a CAGR of 17.5% from 2023 to 2028 according to a new report by MarketsandMarkets™. The major factors driving the growth of the metagenomic sequencing market are frequenct technological innovations in the NGS platforms and increasing understanding of the wide as well as significant applications of metagenomics in several fields. However, budget constraints faced by developing countries due to lack of government, private support in terms of funding, infrastructure is expected to restrain market growth to a certain extent.

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Metagenomic Sequencing Market Scope:

Reagents & Consumables subsegment accounted for the largest share of the metagenomic sequencing market by product & service

Among the product & service, the metagenomic sequencing market is segmented reagents & consumables, instruments, sequencing services and analysis & data interpretation solutions. In 2023, the reagents and consumables segment accounted for the largest share of the metagenomic sequencing market by product & service. Growth in this market segment can be attributed to factors such as commercialization of reagents and kits and repetitive purchase of sequencing reagents by demand side entities among others.

Drug discovery is the fastest-growing segment of the metagenomic sequencing market by applications

Among the applications, the metagenomic sequencing market is segmented into drug discovery, clinical diagnostics, soil microbiome applications, industrial applications, ecological & environmental applications, veterinary applications, and other applications. In 2023, the drug discovery segment accounted for the fastest-growing share of the usage segment of metagenomic sequencing market. Growth in this market segment can be attributed to one of the major factors which is the growing number of research activities for development of new drugs.

Europe: The second-largest region in the metagenomic sequencing market.

The European market is the second-largest metagenomic sequencing market globally, mainly due to factors such as increasing number of research projects, especially in the field of soil microbiome metagenomics, in the region. Moreover, Europe is considered a major hub for metagenomic sequencing players and organizations.

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Metagenomic Sequencing Market Dynamics:

Drivers:

     1.  Continuous technological innovations in NGS platforms

          a.  iSeq 100 System

          b.  Ion GeneStudio S5

     2.  Initiatives and funding from government & private bodies for large-scale sequencing projects

     3.  Declining costs of genome sequencing

     4.  Significant applications of metagenomics in various fields

Restraints:

1. End-user budget constraints in developing countries

Opportunities:

1. NGS data analysis using big data

Challenges:

1. Challenges associated with metagenomic NGS

Key Market Players:

The market for metagenomic sequencing is consolidated, with key players strategizing to capture the market. Prominent players in the metagenomic sequencing market are Illumina, Inc. (US), Thermo Fisher Scientific (US), QIAGEN N.V. (Netherlands), PerkinElmer, Inc. (US), and Oxford Nanopore Technologies Plc. (UK) among others.

Recent Developments:

• In September 2022, Illumina, Inc. (US) launched the NovaSeq X series production-scale sequencers, which are capable of generating more than 20,000 whole genomes per year (which is 2.5 times the throughput of prior sequencers from Illumina).
• In September 2021, Thermo Fisher Scientific, Inc. (US) and AstraZeneca (UK) co-developed an NGS-based companion diagnostic. The collaboration was focused on commercializing NGS-based diagnostics in Russia.

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Metagenomic Sequencing Market Advantages:

• Comprehensive insights into microbial communities: Metagenomic sequencing enables the study of entire microbial populations within a given sample, providing a holistic view of the diversity, abundance, and interactions between different microorganisms. This comprehensive approach allows researchers to uncover previously unknown species and understand the complex dynamics of microbial ecosystems.
• Detection of novel organisms and genes: By analyzing genetic material directly from environmental samples or complex communities, metagenomic sequencing can identify new and previously undiscovered microorganisms and functional genes. This discovery potential has vast implications for biotechnology, drug development, and understanding microbial biodiversity.
• Applications in personalized medicine: Metagenomic sequencing has the potential to revolutionize healthcare by characterizing an individual's unique microbiome. This information can be used to identify links between specific microbial compositions and diseases, leading to personalized treatment plans and more effective interventions.
• Environmental monitoring and conservation: Metagenomic sequencing can be applied to assess environmental health and biodiversity, facilitating the monitoring of ecosystems, soil quality, and water safety. This data aids in conservation efforts, sustainable agriculture practices, and the identification of environmental threats.
• Accelerated research and data-driven insights: Metagenomic sequencing generates vast amounts of data, and advancements in computational tools and bioinformatics allow researchers to analyze and interpret this information rapidly. The ability to process large datasets efficiently leads to accelerated research and deeper insights into microbial functions and interactions.
• Exploration of functional potential: Unlike traditional methods that focus on cultivated organisms, metagenomic sequencing examines the collective genetic potential of all microorganisms present. This approach enables the study of functional genes, metabolic pathways, and potential biotechnological applications, even in non-culturable microbes.
• Epidemiological studies and disease surveillance: Metagenomic sequencing can play a critical role in tracking and understanding disease outbreaks, identifying pathogens responsible for infections, and assessing antimicrobial resistance patterns. This information aids in designing targeted public health interventions and controlling infectious diseases more effectively.
• Non-invasive diagnostics: Metagenomic sequencing allows for non-invasive sample collection, making it an attractive option for diagnostic purposes. It eliminates the need for invasive procedures and provides valuable diagnostic information without causing additional harm or discomfort to patients.
• Industrial applications: Metagenomic sequencing finds applications in various industries, including biotechnology, pharmaceuticals, agriculture, and wastewater management. It facilitates the discovery of enzymes, bioactive compounds, and other useful products derived from microbial communities, driving innovation in these sectors.

Overall, metagenomic sequencing's ability to unlock the mysteries of microbial worlds offers a wealth of advantages that will continue to revolutionize multiple fields and lead to groundbreaking discoveries with profound impacts on human health, the environment, and beyond.

Related Reports:

Genomics Market - Global Forecasts to 2028

NGS Sample Preparation Market - Global Forecasts to 2028

Proteomics Market - Global Forecasts to 2028

Next Generation Sequencing Market - Global Forecasts to 2027

Bioinformatics Services Market - Global Forecasts to 2026

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