PUBLISHER: Grand View Research | PRODUCT CODE: 1268874
PUBLISHER: Grand View Research | PRODUCT CODE: 1268874
The global microbiome sequencing services market size is projected to reach USD 3.10 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 10.9% from 2023 to 2030, as a result of rising investment and an increase in genomic research globally. For instance, in October 2022, Danish microbiome research comp1any, Clinical Microbiomics announced that venture capital firm Seventure Partners had invested €10 million ($9.7 million) in the company. The funds will be used by Clinical Microbiomics to advance the systems biology and microbiome profiling platforms, as well as to broaden the scope of their service offerings for multi-omics data integration and extend their reach internationally, starting with the US. Due to a large number of genomic initiatives for research and development, the market for microbiome sequencing services is growing.
With growing evidence that microbiomes have a significant effect on human health, the research on microbiome sequencing has advanced considerably in recent years. Studies investigating the variety of microbes that exist on and inside human bodies are now possible easily since there have been major improvements in sequencing technologies and significant declines in the costs of services. Furthermore, growing research on how the human body's microbiome influences certain aspects of human physiology provides enormous potential for the development of novel treatments and preventative measures for a wide range of diseases including cancer, mental health disorders, autoimmune conditions, and infectious diseases. This growing research on the microbiome is expected to drive the demand for microbiome sequencing services.
The COVID-19 pandemic has had positive effects on the market for microbiome sequencing services. Microbiome sequencing is mainly employed in the fields of infectious disease and cancer. The existence of the virus and the host's reaction to COVID-19 may be determined through RNA sequencing. Therefore, one of the key factors supporting its development in 2020 and beyond was the increasing adoption of microbiome sequencing tools during the COVID-19 pandemic.
Moreover,the government's partnerships with industry participants for extensive virus research also fueled the pandemic's high demand for microbiome sequencing. For instance, the UK established a genome sequencing partnership in March 2020 to facilitate rapid, comprehensive, and exhaustive sequencing analysis of samples from patients who tested positive for COVID-19. The network seeks to sequence every positive patient sample for the virus. Oxford Nanopore is pleased to assist the teams working on this initiative in the UK