Metagenomic sequencing is a DNA sequencing technique used to analyze genetic materials recovered directly from environmental samples. It allows researchers to gain insights into microbial populations without requiring isolation and lab cultivation of individual microbial species. Some common applications of metagenomic sequencing include exploring microbial diversity within the human microbiome, investigating the composition of microbial communities in various environments such as soil, seawater, and extreme environments. It is also being utilized to detect pathogens and study outbreaks.
The global metagenomic sequencing market is estimated to be valued at US$ 1.41 Bn in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by CoherentMI.
Technological advancements (referred from heading): One of the major drivers fueling the growth of the global metagenomic sequencing market is the continuous technological advancements in next-generation sequencing platforms. Leading players are focusing on developing innovative sequencing platforms with high throughput, accuracy, and reduced sequencing cost which is increasing the adoption of metagenomic sequencing in various applications. For instance, Oxford Nanopore Technologies introduced proton and Flongle sequencing platforms with real-time, long read, and portable capabilities.
Another factor boosting the demand for metagenomic sequencing is the increasing applications in various industries such as healthcare, biotechnology research, agricultural, environmental monitoring, and biofuel. It is being utilized to develop advanced biofuels by sequencing the genomes of microbes within environments such as soil and digestive tracts. Metagenomic data also helps in advancing anti-microbial resistance surveillance and antibiotics discovery.
The global metagenomic sequencing market is dominated by the microbiome analysis sub segment which holds around 65% of the total market share. Microbiome analysis involves studying microbial community present in different habitats such as human body, soil etc. which helps in understanding various health and environmental issues. Microbiome analysis sub segment is dominating as it enables identification of role of microbes in various diseases, development of personalized medicine and new therapeutics.
Global Metagenomic Sequencing Market Segmentation:
- By Technology:
- By Product:
- Reagents & Consumables
- Analysis Softwares
- By Application
- Drug Discovery
- Disease Diagnosis
- Environmental Remediation
- Gut Microbe Characterization
- By End User:
- Pharmaceutical & Biotechnology Companies
- Academic & Research Institutes
- Agriculture & Biofuel Companies
- Hospitals & Clinics
Political: The government funding for metagenomic research in developed economies such as US, EU countries is driving the market growth. Furthermore, regulations supportinh clinical applications of metagenomic also positively impact the market.
Economic: Rising healthcare expenditure, increasing R&D investments from pharma/biotech companies and funding for genomic research projects are fueling the market growth.
Social: Increasing awareness about importance of microbiome in human health and growing acceptance of precision medicine are supporting the adoption of metagenomic sequencing.
Technological: Continuous advancement in NGS platforms, emergence of third generation sequencing, development of bioinformatics tools for metagenomic data analysis are enhancing applications of metagenomic sequencing.
The Global Metagenomic Sequencing Market Size is expected to witness high growth at a CAGR of 17% during the forecast period of 2023 to 2030. The market size is projected to reach US$ 7.57 Bn by 2030.
North America dominates the global market and is expected to maintain its lead position during the forecast period. This is attributed to presence of key market players, favorable funding scenario and increasing adoption of metagenomic sequencing for clinical applications in the region. Asia Pacific is anticipated to witness fastest growth owing to improving healthcare infrastructure, rising research expenditure and growing collaborations between local and global market players.
Key players operating in the metagenomic sequencing market are Illumina, QIAGEN, Thermo Fisher Scientific, Oxford Nanopore Technologies, BGI Group. Illumina is the market leader due to its robust NGS product portfolio and strong global presence. Other prominent vendors include PerkinElmer, GENEWIZ, Macrogen, Zymo Research, Diversigen, Microsynth AG and BaseClear. These companies focus on expanding their product offerings and strengthening geographic footprint through mergers & acquisitions and collaborations.
1. Source: CoherentMI, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it