Substantial rate of adoption of products in North America creates enormous opportunities; introduction of cutting-edge tools to open up new vistas
Wilmington, Delaware, United States, Oct. 11, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – Metagenomic next-generation sequencing (NGS) has demonstrated enormous potential in diagnosis of neuroinfectious diseases particularly CNS infectious diseases, which firms are keenly capitalizing on. Advancements in NGS platforms and bio-informatic tools are creating new revenue streams for leading players in metagenomics market. The metagenomics market is estimated to reach US$ 6.1 Bn by 2030
The study analysts observed that mounting concerns of infectious diseases on human health will influence the dynamics of future market demand for metagenomics. Of note, the application of metagenomics-enabled microbial surveillance in reducing the frequency of disease outbreaks in future has opened up new growth vistas for players in metagenomics market.
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There is an abundant demand for metagenomics tools in food microbiology. The TMR analysts of the study found that the food & beverage segment is highly lucrative. The use of next-gen sequencing for improving the food safety will rise, and will broaden the horizon for lucrative demand in the food & beverages industry.
Key Findings of Metagenomics Market Study
- R&D in Bioinformatics to Help Broaden Revenue Streams: Advancements in bioinformatic tools is progressively simplifying the reads of metagenomic data. These have stridently fueled strides in microbial ecology, and hence steering the expansion of the metagenomics market. A slew of novel tools are being adopted to enrich bioinformatic analyses in metagenomics, and thus have boosted the market prospects. Their abundant demand among healthcare companies for the diagnosis of neuroinfectious diseases will expand lucrative avenues during the forecast period of 2020 – 2030.
- Growing Use of Metagenomics Sequencing in Disease Diagnosis Creates Lucrative Avenue: Rising demand for metagenomics sequencing for drug discovery and disease diagnosis will propel the revenue streams for firms in metagenomics market. The use is rising in infectious disease management, where next-gen metagenomic sequencing holds incredible potential in identifying pathogens and evaluate their diversity. Of note, the use of the technologies has grown in clinical diagnostics. Moreover, end-to-end microbiome platforms by providers of next-gen sequencing services has unlocked a massive revenue potential for players in the metagenomics market, observed the study authors.
- Firms Explore New Bioinformatics Technologies to Tap into Demand From Assessment Of Soil Health: Microbial ecologists are harnessing shotgun metagenomics for assessing microbial soil diversity. Furthermore, flow cytometry-enabled mini-metagenomics is expected to gather traction in understanding microbial diversity from forest soil, thus will offer incremental opportunities for players in metagenomics market.
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Metagenomics Market: Key Drivers
- Need for advanced technologies for timely diagnosis of neuroinfectious diseases is a key factor underlying the market prospects of metagenomic next-generation sequencing technologies. The incidence and burden of infectious diseases in general is a key driver of investments in metagenomics market business.
- Growing concerns of climate change on soil biodiversity is a key driver for application of soil metagenome projects, thus boosting the metagenomics market size.
Metagenomics Market: Regional Growth Dynamics
- North America held a major share of the global metagenomics market in 2019. The region has been replete with opportunities with rapid uptake of various metagenomics sequencing platforms. Extensive research on finding novel diagnostic strategies for the detection and characterization of SARS-CoV-2 has spurred research spending in the region.
- Europe was another lucrative market in 2019, accounting for a key market share. Rise in adoption of bioinformatics tools has fueled the growth opportunities. Furthermore, relentless research on microbial ecology and soil diversity has catalyzed the application of metagenomics, thereby bolstering the revenue potential of the regional market.
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Metagenomics Market: Key Players
Most key players in metagenomics market are leaning on expanding their product portfolio and aiming to strengthen their position in different geographies.
Some of the prominent ones are Computomics GmbH, PerkinElmer, Inc., Microsynth AG, Zymo Research, Eurofins Scientific, Arc Bio, LLC., Takara Bio, Inc., Novogene Co., Ltd., Promega Corporation, Illumina, Inc., QIAGEN, and Thermo Fisher Scientific, Inc.
Metagenomics Market Segmentation
- Kits & Reagents
- Software & Services
- 16S Sequencing
- Whole Genome Sequencing
- Shotgun Sequencing
- Ecology & Environment
- Clinical Diagnostics
- Drug Discovery
- Food & Beverages
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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