Dublin, Aug. 18, 2023 (GLOBE NEWSWIRE) -- The "Global Metagenomic Sequencing Market by Product & Services, Workflow, Technology, Application and Region - Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global metagenomic sequencing market is projected to reach USD 4.5 million by 2028 from USD 2 billion in 2023, with a Compound Annual Growth Rate (CAGR) of 17.5%. Key factors driving this growth include continuous technological innovations in Next-Generation Sequencing (NGS) platforms, increasing funding for large-scale sequencing projects, and declining costs of genome sequencing.
Scope of the Report:
The report covers various aspects of the metagenomic sequencing market, including product and service categories, workflow stages, technology types, applications, and geographical regions. It provides insights into the current state of the market and future growth prospects.
Key Highlights:
The report highlights the significance of various technologies, such as 16S rRNA sequencing, shotgun metagenomic sequencing, and whole-genome sequencing. It also identifies major applications of metagenomic sequencing, including drug discovery, clinical diagnostics, soil microbiome, industrial, ecological, and environmental applications.
Regional Insights:
North America currently holds the largest share of the metagenomic sequencing market, attributed to strong government support, private funding, and a presence of key market players. The Asia-Pacific region is expected to experience the highest growth, driven by increased funding and growing research projects involving NGS-based technologies.
Market Dynamics
Drivers
- Continuous Technological Innovations in NGS Platforms
- Ion Torrent Genexus Dx Integrated Sequencer
- ISEQ 100 System
- Ion GeneStudio S5
- Initiatives and Funding from Government & Private Bodies for Large-Scale Sequencing Projects
- Declining Cost of Genome Sequencing
- Significant Applications of Metagenomics in Various Fields
Restraints
- End-user Budget Constraints in Developing Countries
- Stagnation in NGS Product Market in Developed Countries
Opportunities
- NGS Data Analysis Using Big Data
Challenges
- Challenges Associated with Metagenomic NGS
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 257 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value (USD) in 2023 | $2 Billion |
| Forecasted Market Value (USD) by 2028 | $4.5 Billion |
| Compound Annual Growth Rate | 17.5% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Metagenomic Sequencing Market, by Product & Service, 2023 vs. 2028 (USD Million)
- Metagenomic Sequencing Market, by Workflow, 2023 vs. 2028 (USD Million)
- Metagenomic Sequencing Market, by Technology, 2023 vs. 2028 (USD Million)
- Metagenomic Sequencing Market, by Application, 2023 vs. 2028 (USD Million)
- Geographical Snapshot of Metagenomic Sequencing Market
Premium Insights
- Metagenomic Sequencing Market Overview -Technological Innovations in NGS Platforms to Drive Growth in Metagenomic Sequencing Market
- North America: Metagenomic Sequencing Market, by Technology & Country (2022) - 16S RaaS Sequencing Technology Segment Accounted for Largest Share of North American Market in 2022
- Metagenomic Sequencing Market, by Workflow, 2022 - Sample Processing & Library Preparation Segment Dominated Market in 2022
- Metagenomic Sequencing Market: Geographic Growth Opportunities - China to Register Highest Growth During Forecast Period
Companies Mentioned
- Azenta, Inc. (Part of Brooks Automation, Inc.)
- BaseClear B.V.
- BGI Group
- Computomics
- CosmosID, Inc.
- DNASTAR, Inc.
- Eurofins Scientific
- Illumina, Inc.
- Intact Genomics, Inc.
- IntegraGen SA
- MedGenome
- Metagenomi
- Microsynth AG
- New England Biolabs
- Novogene Co. Ltd.
- Oxford Nanopore Technologies, PLC
- Pacific Biosciences of California, Inc.
- PerkinElmer, Inc.
- Psomagen, Inc.
- QIAGEN N.V.
- Tecan Trading AG
- Terra Bioforge (formerly Varigen Biosciences Corporation)
- Thermo Fisher Scientific, Inc.
- Veritas Genetics
- Zymo Research Corporation
For more information about this report visit https://www.researchandmarkets.com/r/gqxvzs
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
