What This Report Will Provide?
This study involved four major activities in estimating the current size of the metagenomic sequencing market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market.
The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.
Expected Revenue Growth:
[149 Pages Report] The metagenomic sequencing market is estimated to grow at a CAGR of 17.0% to reach USD 2.3 billion by 2024 from USD 1.0 billion in 2019.
Major Growth Boosters:
Market growth is largely driven by factors such as the significant applications of metagenomics in various fields, the various initiatives and funding from government & private bodies for large-scale sequencing projects, and the declining cost of sequencing.
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Key Questions Addressed in The Report:
1. Who are the top 10 players operating in the global metagenomic sequencing market?
2. What are the drivers, restraints, opportunities, and challenges in the metagenomic sequencing Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of metagenomic sequencing in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?
Drug Discovery Segment:
Based on applications, the metagenomic sequencing market is segmented into drug discovery, clinical diagnostics, soil microbiome applications, industrial applications, ecological and environmental applications, veterinary applications, and other applications. The drug discovery segment accounted for the largest share of the metagenomic sequencing market in 2018. Growth in this market segment is mainly due to the increasing research activities for novel drug discovery, growing collaborations between market players, academic institutions, and pharmaceutical companies for drug development, and growing use of metagenomic NGS in clinical trials.
Shotgun Metagenomic Sequencing Technology:
On the basis of technology, the metagenomic sequencing market is segmented into shotgun metagenomic sequencing, 16S rRNA sequencing, metatranscriptomics, and whole-genome sequencing & de-novo assembly. The shotgun metagenomic sequencing technology is expected to witness the highest growth rate in the metagenomic sequencing market during the forecast period. This can be attributed to the advantages offered by shotgun sequencing over other techniques, growing adoption of shotgun metagenomic sequencing among researchers and healthcare professionals, and the increasing number of metagenomic sequencing-based research activities.
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Illumina, Inc. (US), Thermo Fisher Scientific, Inc (US), QIAGEN N.V. (Netherlands), PerkinElmer (US), Oxford Nanopore Technologies Ltd. (UK), BGI Group (China), Macrogen Inc. (South Korea), GENEWIZ (US), Eurofins Scientific (Luxembourg), Novogene Corporation (China), Zymo Research Corporation (US), NuGEN Technologies, Inc (US), IntegraGen SA (France), Microsynth AG (Switzerland), and DNAStar, Inc (US) are some of the leading players operating in the metagenomic sequencing market.
Illumina (US) dominates the market with its technologically advanced innovative platforms and associated sequencing products. The company’s product portfolio includes a wide range of highly interconnected products, including sequencing, genotyping, gene expression, and molecular diagnostic products. Illumina also offers metagenomic sequencing services, which further strengthens its market position. Over the past three years, Illumina has launched several products to maintain its leading position in the metagenomic sequencing market. It also invests a significant amount of its revenue on R&D expenditure in order to sustain continuous product development. In 2019, Illumina invested 18.7% of its revenue on R&D.