Metagenomic Sequencing Market Snapshot
The metagenomics sequencing market 2020 is anticipated to grow expeditiously owing to the wide range of applications of metagenomics in various fields. The other dominant factors vitalizing the market are the increasing awareness of genetic afflictions and the usage of progressive technical platforms. Further, persistent fall in the price of the process is likely to escalate the demand exponentially at a global front. Besides, government initiatives and funds to large scale projects of sequencing are projected to drive the market further.
Market Research Future (MRFR), in its recent study, asserts that the global metagenomic sequencing market is estimated to garner substantial market value, thriving at a CAGR of 6.5% during the assessment period from 2017 to 2023.
Metagenomic Sequencing Market Segmentation
MRFR has performed the segmental evaluation of the global metagenomics sequencing market based on technology, application, and end-user.
The technology-based segment of the global metagenomic sequencing market is sequencing and bioinformatics, among others.
The application-based segment of the global metagenomic sequencing market is infectious disease diagnosis, environmental remediation, gut microbe characterization, biotechnology, biofuel, ecology, and agriculture, among others.
The end-user based segment of the global metagenomic sequencing market is hospitals, research institutes, and specialized clinics, among others.
Metagenomic Sequencing Market Regional Analysis
MRFR analyzed the Metagenomic Sequencing Market during the forecast period with respect to key regions, namely, Europe, Asia-Pacific, North America, and the Rest of the World (RoW). The Americas are projected to dominate the global metagenomics sequencing market owing to the presence of well-established infrastructure, growing investment in NGS projects, increased government funding. Further, the technical development in the NGS procedures with its widespread applications is predicted to stimulate the market considerably.
The second position is projected to be acquired by Europe. The regional market is anticipated to flourish during the forecast period on account of the favorable government funding, along with the increased investments in next-generation sequencing technologies. Further, the increased adoption of NGS procedure, low-cost sequencing, and the rise in collaborations and partnerships are likely to drive the regional market.
The APAC region is likely to witness the most robust growth during the forecast period owing to the increasing incidence of genetic ailments across the globe is projected to be one of the most crucial factors boosting the regional market. APAC being the fastest-growing market, is anticipated to dominate the European market in the coming tenure. Besides, inexpensive healthcare and ongoing research are recognized to be vital factors in developing the APAC market.
The MEA region is expected to witness sluggish growth in the forthcoming period. Major factors impeding regional growth are the lack of expertise, lack of knowledge on genetic diseases and disorders, stagnant research, inadequate healthcare infrastructure, reluctance to adopt the latest technologies, and the limited availability of products and services.
Metagenomic Sequencing Market Key Players
Some of key the players in the global metagenomic sequencing market are Enterome Bioscience (France), GATC Biotech AG (Germany), Illumina Inc. (U.S.), The Mitre Corporation (U.S.), Aperiomics, Inc. (U.S.), F Hoffman-La Roche Ltd. (Switzerland), Second Genome Therapeutics (U.S.), SciGenom Labs Pvt. Ltd. (India), Quest Diagnostics Incorporated (U.S.), GenapSys, Inc. (U.S.), Freenome Inc. (U.S.), COSMOSID (U.S.), Beijing Genomics Institute (China), and Pacific Biosciences (U.S.).