Metagenomics Market Size Worth $1.40 Billion by 2025 | CAGR 16.6%: Grand View Research, Inc.
SAN FRANCISCO, April 10, 2019 /PRNewswire/ -- The global metagenomics market size is expected to reach USD 1.40 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 16.6% during the forecast period. Rise in demand for microbial screening in food and chemical industries for commercial applications, coupled with rapid developments in bioinformatics and biotechnology tools, is anticipated to accelerate market growth in the coming years.
Key suggestions from the report:
- Kits and reagents formed the largest segment by product in 2017 owing to frequent usage at various steps in microbial genomic studies
- Surplus growth in genomics database with respect to types and numbers has led to rising demand for better data analysis solutions. As a result, the sequencing and data analytics services segment is expected to emerge as a lucrative source of revenue generation during the forecast period
- Function driven technology held the major revenue share in 2017. Development of new screening procedures that facilitate rapid screening of large clone libraries has enabledfunctional detection of novel enzymes from metagenomes
- Advancements in genetic tools have broadened the application scope of metagenomics to include targeting microbes responsible for inducing various cancer forms. This, in turn, is driving the application of metagenomic analysis in human health
- North America dominated the market in 2017. Strong presence of key NGS leaders like Illumina and a substantial number of ongoing genomics-related studies in U.S. are major factors contributing to its large share
- Some of the key competitors in the market are Illumina, Inc.; Promega Corporation; Novogene Corporation; Oxford Gene Technology, Inc.; Thermo Fisher Scientific, Inc.; TAKARA BIO INC.; Danaher; QIAGEN; and ELITechGroup
- Acquisition of small players with a strong product portfolio is a prominently adopted strategy by dominant players. For instance, in August 2016, PerkinElmer acquired Bioo Scientific Corporation-provider of 16S & 18S library preparation kits for metagenome studies
- Competitors are also involved in collaborations with bioinformatics companies for co-development of novel platforms for metagenomics analysis.
Read 155 page research report with TOC on "Metagenomics Market Size, Share & Trends Analysis Report By Product (Sequencing & Data Analytics), By Technology (Sequencing, Function), By Application (Environmental), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/metagenomics-market
Key market participants are striving to capitalize potential avenues in the market by addressing challenges faced by research entities pertaining to data assembly, identification, and verification of rare metagenomes. Furthermore, companies operating in the molecular diagnostics and genomics arena are a playing crucial role in this market by partnering with metagenomics companies for development of novel tests for disease diagnosis.
For instance, in September 2017, IDbyDNA, Inc. and ARUP Laboratories co-developed Explify Respiratory-a metagenomic NGS test for screening of respiratory infections. The anticipated launch of many such novel tests is projected to boost the market during the forecast period.
Grand View Research has segmented the global metagenomics market on the basis of product, technology, application, and region:
- Metagenomics Product Outlook (Revenue, USD Million, 2014 - 2025)
- Kits & Reagents
- Sequencing & Data Analytics Services
- Metagenomics Technology Outlook (Revenue, USD Million, 2014 - 2025)
- Sequencing Driven
- Function Driven
- Metagenomics Application Outlook (Revenue, USD Million, 2014 - 2025)
- Human Health
- Metagenomics Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- South Africa
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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