Microbiome diagnostics industry is projected to witness a CAGR of 13.4% during the period 2024-2032. This growth can be attributed to rising demand of personalized medicine.
Selbyville, Delaware, Oct. 29, 2024 (GLOBE NEWSWIRE) —
Microbiome Diagnostics Market size is projected to be worth USD 429.2 million by 2032. Rising innovations in sequencing technologies, including next-generation sequencing (NGS) and metagenomics are enabling comprehensive and detailed analysis of microbiomes whilst improving diagnostic accuracy and providing deeper insights into microbial communities. The integration of microbiome data with genomics, proteomics, and metabolomics is offering a more holistic view of health and diseases.
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Moreover, the surging collaborations between academic institutions, research organizations, and biotechnology companies are making way for advancements in microbiome diagnostics. The growing efforts to leverage complementary expertise and accelerate the development of new diagnostic tools and treatments.
Instruments segment to gain traction
The instruments product segment in the microbiome diagnostics market is likely to register notable growth by 2032. The development of microbiome-based probiotics, prebiotics, and fecal microbiota transplants relies heavily on precise diagnostics to understand the specific strains of microbes involved and their impacts on health, further driving the product demand. The availability of advanced bioinformatics tools and software to analyze large-scale microbiome data has further enhanced the segment progression.
Rising adoption in research applications
Microbiome diagnostics market from the research applications segment is poised to witness a considerable CAGR up to 2032. Microbiome diagnostics assist researchers to understand the role of human microbiome in the development and progression of diseases, such as inflammatory bowel disease (IBD), irritable bowel syndrome (IBS), colorectal cancer, obesity, diabetes, and neurological disorders. Researchers are using microbiome profiling to identify specific microbial signatures associated with diseases to assist in the development of potential biomarkers for early diagnosis and treatment.
Asia Pacific to offer lucrative growth opportunities
APAC microbiome diagnostics market size will account for a considerable share by 2032 on account of growing R&D investments especially in countries like China, Japan, and India. Rising awareness among consumers about the role of microbiome in health and wellness is driving the demand for microbiome diagnostics and therapeutics. Surging adoption of microbiome testing in clinical settings for personalized medicine, particularly in gastrointestinal disorders, metabolic diseases, and infectious diseases.
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Microbiome Diagnostics Industry Participants
Some of the prominent microbiome diagnostics market participants include Becton, Dickinson, and Company, Biome Technologies plc, Genetic Analysis AS, Illumina, Inc., Microba Life Sciences Limited, Micronoma, Inc., OraSure Technologies, Inc., Oxford Nanopore Technologies plc, Quantbiome, Inc., and ViennaLab Diagnostics GmbH.
These firms are actively engaging in innovation strategies as well as partnership initiatives to proliferate their offerings. For instance, in January 2024, interdisciplinary research innovator Penn State and sample-to-insight solutions firm QIAGEN LLC entered an MOU to foster advancements in microbiome sciences. Top of Form
Partial Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Research design
1.2.1 Research approach
1.2.2 Data collection methods
1.3 Base estimates & calculations
1.3.1 Base year calculation
1.3.2 Key trends for market estimation
1.4 Forecast model
1.5 Primary research and validation
1.5.1 Primary sources
1.5.2 Data mining sources
Chapter 2 Executive Summary
2.1 Industry 3600 synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.2 Increasing prevalence of chronic diseases
3.2.3 Rising demand of personalized medicine
3.2.4 Growing awareness about importance of human microbiomes
3.2.5 Rising funding and investments in microbiome research
3.2.6 Industry pitfalls & challenges
3.2.7 High cost associated with microbiome testing
3.3 Growth potential analysis
3.4 Regulatory landscape
3.5 Technological landscape
3.6 Porter’s analysis
3.7 PESTEL analysis
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