Global Metagenomics Sequencing Market Size is Expected to Reach $3.64 Billion by 2028: Says AMR
Increase in advancements in metagenomics sequencing, rise in applications of metagenomics in various fields, surge in initiatives & funding from government & private bodies for large-scale sequencing projects, and declining cost of sequencing drive the growth of the global metagenomics sequencing market. By technology, the 16S rRNA sequencing segment held the major share in 2020.
Portland, OR, July 08, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Metagenomics Sequencing Market was estimated at $974.30 million in 2020 and is expected to hit $3.64 billion by 2028, registering a CAGR of 17.5% from 2021 to 2028. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Increase in advancements in metagenomics sequencing, rise in applications of metagenomics in various fields, surge in initiatives & funding from government & private bodies for large-scale sequencing projects, and declining cost of sequencing drive the growth of the global metagenomics sequencing market. On the other hand, budget constraints in developing countries and dearth of skilled professionals impede the growth to some extent. However, availability of cloud computing for data management is anticipated to create lucrative opportunities in the industry.
Covid-19 scenario-
- Rise in number of COVID-19 cases has led to rapid testing and clinical diagnosing.
- The majority of this testing is PCR-based. Next-generation sequencing (NGS) and whole genome sequencing of the COVID-19 virus are providing metagenomics data of diagnostic test that is combined with clinical data to search for effective treatments. This factor has boosted the global metagenomics sequencing market.
The global metagenomics sequencing market is analyzed across product & service, technology, application, and region. Based on product & service, the services segment held the highest share in 2020, accounting for around three-fourths of the global metagenomics sequencing market. The reagents & consumables segment, on the other hand, would register the fastest CAGR of 17.6% during the forecast period.
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Based on technology, the 16S rRNA sequencing segment accounted for more than two-fifths of the total market revenue in 2020, and is projected to dominate by 2028. However, the shotgun metagenomic sequencing segment would cite the fastest CAGR of 18.5% throughout the forecast period.
Based on region, North America garnered the highest share in 2020, accounting for more than two-fifths of the global market. Simultaneously, the market across Asia-Pacific would register the fastest CAGR of 19.0% from 2021 to 2028. The other provinces studied in the report include North America, Europe, and LAMEA.
The key market players analyzed in the global metagenomics sequencing market report include Illumina, Inc., Oxford Nanopore Technologies Ltd, Pacific Biosciences of California, Inc., Thermo Fisher Scientific Inc., BGI Genomics Co., Ltd., Eurofins Genomics, PerkinElmer Inc., Macrogen Inc., QIAGEN N.V., and Swift Biosciences Inc. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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