By the end of 2033, the global metagenomic sequencing market is projected to grow at a CAGR of 17.6% and reach US $7.1 billion.
A technique in genetics called “metagenomic sequencing” enables researchers to examine the genetic makeup of complex communities of organisms, such as those in soil, water, or our bodies. Metagenomic sequencing examines all of the genetic data in a sample, in contrast to conventional techniques that concentrate on one organism at a time. This is extremely helpful since it enables us to locate new and hidden bacteria, comprehend what they do, and perhaps find potential remedies or therapies.
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Key Segments of Metagenomic Sequencing Industry Research Report
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The market for metagenomic sequencing is expanding as a result of a few key causes. The demand for metagenomic sequencing technology is being fueled by the growing awareness and understanding of the complex microbial communities in diverse contexts, including human microbiomes and ecosystems. Furthermore, metagenomic studies are now much more affordable and time-efficient thanks to developments in sequencing technologies and bioinformatics tools, making them more available to researchers in a variety of domains.
Key Takeaways:
- The US market is expected to witness a CAGR of ~15% during the forecast period (2023-2033). Moreover, the US market has occupied a market value of US $ 2.5 Bn in 2033. Moreover, the market in the UK is expected to grow at 16.8% during the forecast period.
- Besides this, the Chinese market is expected to witness a CAGR of 17% during the forecast period (2023-2033)
Market Competition
This market is highly competitive, and several prominent companies and research institutions are actively engaged in developing and providing metagenomic sequencing solutions. Companies such as Illumina, Thermo Fisher Scientific, Oxford Nanopore Technologies, and Pacific Biosciences are key players in this market, offering a range of sequencing platforms and associated technologies.
- For instance, In July 2021, Pacific Biosciences announced a collaboration with Invitae, a leading company in medical genetics. This venture aims to integrate PacBio’s long-read sequencing technology with Invitae’s extensive expertise in clinical genetics testing, ultimately resulting in the development of a high-throughput sequencing platform tailored for genetic testing purposes.
Key Companies Covered
Illumina, Inc., Thermo Fisher Scientific, QIAGEN, PerkinElmer, Inc., Oxford Nanopore Technologies Plc., Pacific Biosciences of California, Inc., BGI Group, Psamogen, Inc., Eurofins Scientific, Azenta Life Sciences, Novogen Co. Ltd., Zymo Research Corporation, Tecan Trading AG, Integragen SA, Microsynth AG
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Winning strategies
- To succeed in the industry, it’s crucial for leading companies to focus on research and development. They should dedicate significant resources to creating state-of-the-art sequencing technologies that offer better precision, faster processing, and cost-effectiveness. This means developing tools that provide highly accurate genetic information, handle more samples efficiently, and are affordable for a wider range of users.
- Companies should actively focus on growing regions like Asia-Pacific and Latin America. These areas have a high potential for economic and technological development. By targeting these markets, companies aim to introduce their products and services to new customers who may be less familiar with these technologies.
- In the market, providing training programs, workshops, and educational resources is crucial. These initiatives empower researchers and healthcare professionals to make the most of metagenomic sequencing technologies.
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