PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1092216
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1092216
The global Metagenomic Sequencing market is estimated to be worth $1,506.2 million in 2021. Metagenomic Sequencing market is expected to expand at an 18.8% CAGR during the forecast period.
Metagenomics is a field of science focusing on microbial community genomes as a whole. The process involves studying genomes and cloning them without cultivating organisms. The metagenomics process has been responsible for considerable breakthroughs in microbial evolution, diversity, and ecology. This activity is predominantly engaged in many research laboratories currently. The global metagenomics sequencing market will be further propelled by the growing advancements in DNA sequencing and the growing application of metagenomics sequencing. Furthermore, developing countries provide the lucrative potential for manufacturers of metagenomics sequencing products.
Continuous technological innovations in NGS platforms, increasing initiatives and funding from government and private bodies for large-scale sequencing projects, declining genome sequencing costs, and significant applications of metagenomics in various fields are driving growth in the metagenomic sequencing market. Continuous technological advancements in sequencers have enabled the development of efficient, portable, and simple-to-use NGS platforms that can deliver fast and precise results while also reducing turnaround times. During the pandemic, the increasing use of metagenomics in various COVID-19 investigations is projected to drive the market. According to a study published in the American Society of Microbiology, China, the United States, and Europe had varying degrees of coinfection during COVID-19, ranging from as low as 2% to as high as 80% within regions. Next-generation sequencing (mNGS) based on metagenomics can detect coinfections and identify additional species that may have an impact on patient outcomes.
The metagenomic Sequencing Market is segmented into products & services, workflow, technology, and application. Based on application, in 2021, the drug discovery category held the largest share of 29% of the global metagenomic sequencing market. The expanding research activities for breakthrough drug discovery and growing cooperation between market participants, academic institutions, and pharmaceutical corporations for drug development can be ascribed to the growth of this segment. Accuracy, a reduction in the number of pre-sequencing steps, and sequencing reliability have all contributed to a greater reliance on technology in metagenomics. As a result, advances in DNA sequencing are projected to move the metagenomics market forward in the future years. Furthermore, increased worries about viral disorders such as virus-induced diarrhea, influenza, hepatitis B, and HIV/AIDS, as well as an increasing number of genes being discovered, have prompted the development of novel drugs. Metagenomic analysis has ushered in a revolution in a variety of sectors of biology, most notably medication development. The phrase refers to a group of scientists who look at the genomes of unculturable microbial populations that live in a specific sort of niche or environment.
The global Metagenomic Sequencing market is highly competitive with a presence of few international players. Some of the major players in the market are Illumina Inc., QIAGEN NV, Novogene Co. Ltd, and PerkinElmer Inc., among others. Industry players are relying on product approvals, product launches, mergers, and acquisitions to gain a significant share of the global Metagenomic Sequencing market. For instance, in January 2021, Illumin and helix collaborated to enhance national surveillance infrastructure in the US to track the prevalence of strains of SARS-CoV-2 with support from the CDC. In addition to this, in July 2021, QIAGEN N.V. Sysmex Corporation formed a strategic alliance for the development and commercialization of global cancer companion diagnostics using Next-generation sequencing and Plasma-Safe-SeqS technologies.
The scope of this report covers the market by its major segments, which include as follows: