Metagenomics Market to Flourish with an Impressive CAGR by 2030
Metagenomics Market: Introduction
According to the report, the global metagenomics market was valued at US$ 1.3 Bn in 2019. It is projected to expand at a high CAGR during the forecast period. Metagenomics is a modern genetic approach to study and analyze microbial communities from samples. This technology is used to analyze DNA extraction from environmental samples. Metagenomics is considered to be a modern approach in genetic analysis from soil, water, and other environmental samples for identification of microbes. Shotgun sequencing, 16S sequencing, and whole genome sequencing are novel metagenomics approaches used for various applications.
The global metagenomics market is driven by the rise in prevalence of genetic, infectious, and other chronic diseases across globe, novel next-generation sequencing products, wide application of metagenomics in clinical diagnosis, drug discovery, biotechnology, microbial ecology, increase in awareness about genetic disorders, and surge in investments in research & development. These factors are likely to propel the metagenomics market across the globe. North America dominated the global metagenomics market in 2019, followed by Europe & Asia Pacific. This trend is anticipated to continue during the forecast period. The region’s dominance can be ascribed to technological advancements, investments in research & development, presence of key players, increase in genetic and other chronic diseases, and adoption of metagenomic sequencing technologies.
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Rise in Focus on Research & Development to Drive Global Market
The increase in research & development across the region is anticipated to develop novel molecular diagnostics to facilitate rapid diagnosis at lower costs and at greater convenience. Thus, metagenomics technologies are widely preferred as a novel approach to cater to the increasing demand for diagnostics procedures and testing. Several key players are engaged in the development of technologically advanced products and kits, and are investing in research & development by entering into strategic development such as partnerships and acquisitions.
The adoption of next-generation sequencing in the analysis of complex microbial communities is a major factor that is projected to boost the market during the forecast period. For instance, MedGenome has led to the adoption of genetic diagnostics and research in India and South Asia in the past few years, which enables the company to leverage the genetic richness embedded in South Asia’s population isolates for discovery. With high-throughput data generation and analysis capabilities at scale, MedGenome is planning to partner with bio-pharma on large-scale research projects to advance personalized medicine for complex human diseases.
In February 2017, Sartorius AG entered into a partnership with EMBL, the European Molecular Biology Laboratory. EMBL is one of the Europe’s leading research institutions with global reach. Thus, increase in R&D activities and expenditure for new sequencing products and therapeutics development is expected to drive the metagenomics market. Moreover, increase in investments by governments and private players in research & development for development of metagenomics approaches for drug discovery and diagnosis is anticipated to propel the market during the forecast period.
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Metagenomics Market: Prominent Regions
In terms of region, the global metagenomics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global metagenomics market in 2019, followed by Europe and Asia Pacific. The presence of key players such as Illumina Inc, technological advancements, adoption of shotgun sequencing, launch of DNA sequencer, prevalence of chronic diseases, and use of sequencing methods to diagnose diseases are a few factors that are estimated to boost the metagenomics market in the region. The metagenomics market in Europe is likely to expand at a notable CAGR from 2020 to 2030. The expansion of the market in the region can be attributed to research & development, use of metagenomics sequencing in diagnosis, and drug discovery.
According to The Community Research and Development Information Service (CORDIS), environmental DNA analyzed by metagenomics offers information on elusive or endangered species without introducing anthropogenic stress onto them. It is also useful to detect species at the early stage of invasion when found at low population densities.
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Launching and Approval of Metagenomics Sequencing Products by Key Players to Drive Global Market
The global metagenomics market is consolidated in terms of number of players. The market is dominated by key players with robust geographic presence and strong product portfolio. Key players operating in the global metagenomics market include Thermo Fisher Scientific, Inc., QIAGEN, Illumina, Inc., Promega Corporation, Novogene Co., Ltd., Takara Bio, Inc., Oxford Nanopore Technologies, Arc Bio, LLC., Eurofins Scientific, Zymo Research, Microsynth AG, F. Hoffmann-La Roche Ltd. (Roche Sequencing), PerkinElmer, Inc., and Computomics GmbH. On March 03, 2020, Thermo Fisher Scientific, Inc. and QIAGEN N.V. announced that the board of directors, as well as the managing board of QIAGEN N.V. have unanimously approved Thermo Fisher’s proposal to acquire QIAGEN.
On January 5, 2017, CosmosID developed an automated metagenomics analysis solution and launched its Metagenomic and Antibiotic Resistance Application on the Thermo Fisher Cloud platform.
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