Dublin, June 11, 2024 (GLOBE NEWSWIRE) -- The "Global Metagenomics Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global metagenomics market has demonstrated a robust growth trajectory, with recent analyses indicating an ascent from a valuation of USD 1.55 billion in 2023 to an anticipated USD 7.09 billion by 2034. A remarkable compound annual growth rate (CAGR) of 14.83% is projected during the forecast period of 2024-2034. This expansion is attributed to several factors, including the rise in genome projects, growing incidence of infectious diseases, and the proliferation of research and development activities across the globe.
Underpinning market growth is the increasing introduction of advanced metagenomics platforms, such as the innovative software solutions aimed at enhancing the analysis of clinical next-generation sequencing data. New product launches, particularly within the kits and reagents segment, have further bolstered revenue, while advancements in sequencing & data analytics services are expected to drive a robust CAGR. Cutting-edge technologies, such as shotgun sequencing and whole genome sequencing, play a pivotal role in the market's development.
Workflow Advancements Streamline Sequencing
The sequencing segment of workflows within metagenomics has garnered the highest revenue, buoyed by cost-effectiveness and technological advancements. The introduction of streamlined workflows, exemplified by ready-to-use kits for microbiome research, spotlights the industry's focus on efficiency and reproducibility. A surge in metagenome sequencing research projects is predicted to fuel growth in pre-sequencing work.
Diverse Applications Across Sectors
Environmental applications of metagenomics command a significant share of market revenue, enhancing agricultural and conservation efforts through genetic analysis. However, clinical diagnostics is envisaged to experience the fastest growth rate during the forecast period, responding to the increased prevalence of infectious diseases and the adoption of metagenomics in clinical settings.
Geographical Market Insights
North America retains the largest share of revenue, underpinned by substantial investment in R&D, technological sophistication, and strategic collaborations. Yet it is the Asia-Pacific region that is anticipated to witness the fastest growth rate, owing to intensifying genomics research and increased investments funneling into the market.
Companies Featured
- Promega Corporation
- PerkinElmer Inc.
- Illumina Inc.
- Thermo Fisher Scientific Inc.
- Takara Bio Inc.
- Novogene Co. Ltd.
- QIAGEN
- F. Hoffmann-La Roche Ltd.
- Bio-Rad Laboratories
- Oxford Nanopore Technologies
For more information about this report visit https://www.researchandmarkets.com/r/5hld6y
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