Metagenomic Sequencing Market: Major Revenue Surge is Expected in Shotgun Metagenomic Sequencing Technique
What This Report
Will Provide?
This study involved four major
activities in estimating the current size of the metagenomic sequencing market.
Exhaustive secondary research was carried out to collect information on the
market, its peer markets, and its parent market.
The next step was to validate these findings, assumptions, and sizing with
industry experts across the value chain through primary research. Both top-down
and bottom-up approaches were employed to estimate the complete market size.
After that, market breakdown and data triangulation procedures were used to
estimate the size of segments and subsegments.
Expected Revenue Growth:
[149 Pages Report] The metagenomic
sequencing market is estimated to grow at a CAGR of 17.0% to reach USD 2.3
billion by 2024 from USD 1.0 billion in 2019.
Major Growth Boosters:
Market growth is largely
driven by factors such as the significant applications of metagenomics in
various fields, the various initiatives and funding from government &
private bodies for large-scale sequencing projects, and the declining cost of
sequencing.
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Key Questions Addressed in The Report:
1. Who are the top 10 players operating in the global metagenomic
sequencing market?
2. What are the drivers, restraints, opportunities, and challenges in the metagenomic
sequencing Industry?
3. What are the opportunities for stakeholders and provide details of the
competitive landscape for key players?
4. What will be growth of metagenomic sequencing in North America, Europe, Asia
Pacific, Latin America, and the Middle East and Africa?
Drug Discovery Segment:
Based on applications, the
metagenomic sequencing market is segmented into drug discovery, clinical
diagnostics, soil microbiome applications, industrial applications, ecological
and environmental applications, veterinary applications, and other
applications. The drug discovery segment accounted for the largest share of the
metagenomic sequencing market in 2018. Growth in this market segment is mainly
due to the increasing research activities for novel drug discovery, growing
collaborations between market players, academic institutions, and
pharmaceutical companies for drug development, and growing use of metagenomic
NGS in clinical trials.
Shotgun Metagenomic Sequencing Technology:
On the basis of technology, the metagenomic sequencing market is segmented
into shotgun metagenomic sequencing, 16S rRNA sequencing, metatranscriptomics,
and whole-genome sequencing & de-novo assembly. The shotgun metagenomic
sequencing technology is expected to witness the highest growth rate in the
metagenomic sequencing market during the forecast period. This can be
attributed to the advantages offered by shotgun sequencing over other
techniques, growing adoption of shotgun metagenomic sequencing among
researchers and healthcare professionals, and the increasing number of
metagenomic sequencing-based research activities.
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Key Players:
Illumina, Inc. (US), Thermo
Fisher Scientific, Inc (US), QIAGEN N.V. (Netherlands), PerkinElmer (US),
Oxford Nanopore Technologies Ltd. (UK), BGI Group (China), Macrogen Inc. (South
Korea), GENEWIZ (US), Eurofins Scientific (Luxembourg), Novogene Corporation
(China), Zymo Research Corporation (US), NuGEN Technologies, Inc (US),
IntegraGen SA (France), Microsynth AG (Switzerland), and DNAStar, Inc (US) are
some of the leading players operating in the metagenomic sequencing market.
Illumina
(US) dominates the market with its
technologically advanced innovative platforms and associated sequencing
products. The company’s product portfolio includes a wide range of highly
interconnected products, including sequencing, genotyping, gene expression, and
molecular diagnostic products. Illumina also offers metagenomic sequencing
services, which further strengthens its market position. Over the past three
years, Illumina has launched several products to maintain its leading position
in the metagenomic sequencing market. It also invests a significant amount of
its revenue on R&D expenditure in order to sustain continuous product
development. In 2019, Illumina invested 18.7% of its revenue on R&D.
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