The global metagenomics sequencing market size was US$ 1139.3 million in 2021. The global metagenomics sequencing market is forecast to grow to US$ 3,994.01 million by 2030 by registering a compound annual growth rate (CAGR) of 18.5% during the forecast period from 2022 to 2030.
The study of genetic material utilizing modern genomics techniques and a set of genomic tools in order to access the genetic content of organisms is called metagenomics. This wide term is the combination of the words "meta" and "genomics," where genomics refers to the process of collecting the DNA sequence of a single organism. Apart from that, meta suggests whether the process is performed for a group of organisms.
Factors Influencing the Market
Several factors, such as growing fundings from government & private bodies, declining cost of sequencing, etc., are driving the growth of the global metagenomics sequencing market.
Due to the growing focus on innovations in metagenomics sequencing, the market is forecast to exhibit huge growth potential during the forecast period. Furthermore, metagenomics sequencing platforms are forecast to register exponential growth, owing to the growing number of technological developments in this sector.
DNA sequencing is considered highly beneficial than conventional traditional microarrays, owing to its low concentration of input sample requirements. Furthermore, the demand for reducing the number of pre-sequencing steps is growing because it assures exact sequences with long reads produced per run. Thus, it will be opportunistic for the metagenomic sequencing market during the forecast period.
Budget limitations in developing countries may impede the growth of the metagenomic sequencing market during the study period. On the contrary, the fact that cloud computing enhances the chances for on-demand access to computing resources of metagenomics sequencing will benefit the market during the study period.
COVID-19 Impact Analysis
The COVID-19 pandemic has been positive for the global metagenomics sequencing market as clinical diagnostics and testing played a crucial role throughout the pandemic. Moreover, the number of COVID-19 cases increased steeply within no time, which surged the demand for PCR-based testing. Thus, the global metagenomics sequencing market grew during the COVID-19 pandemic.
Regional Analysis
The Asia-Pacific metagenomics sequencing market is forecast to grow at a significant rate, owing to the surging focus of healthcare professionals on drug discovery, the rapidly growing biotechnology industry, and rising investments in the sector. Furthermore, the easy accessibility of novel advanced sequencing technologies in the region will drive the metagenomics sequencing market forward.
Competitors in the Market
Market Segmentation
The global metagenomics sequencing market segmentation focuses on Product, Technology, Application, and Region.
By Product & Services Outlook
By Technology Outlook
By Application Outlook
By Regional Outlook
