Metagenomic Sequencing Market To Generate Revenue worth $6,899 Million by 2030

The global metagenomic sequencing market is projected to generate USD 6,899 million revenue by 2030, advancing at a CAGR of 17.20% during 2022–2030. This can be ascribed to the rising usage of the associated techniques in drug discovery and development, clinical diagnostics, and carrier screening. Additionally, the market is expected to grow as a result of the advancements in NGS technologies, increase in the government and private financing for large-scale life sciences research projects, and applications of metagenomics in a variety of disciplines.

Metagenomics technologies are increasingly being used due to their precision, reduced pre-sequencing requirements, and dependability. These advantages are expected to boost their adoption in nucleic acid research, thus fueling market expansion.

Furthermore, the development of effective, portable, and simple-to-use NGS platforms with less turnaround times has been made possible by the extensive research. Due to the instant competitive advantage that the introduction of such technology gives businesses, the well-known corporations are increasingly concentrating on R&D in order to improve their market positions and augment their shares.

Reagents & Consumables Are Expected To Hold Largest Share

On the basis of offering, the products are categorized into reagents & consumables and instruments. Of these, the reagents & consumables category accounted for the larger market share in 2022, and it is expected to maintain its dominance in the future. This is because the use of reagents and consumables ensures that the DNA used for metagenomics sequencing analysis is representative of all the cells in the sample and suitable for creating genomic libraries.

Additionally, the consumables used in the initial steps ensure that the DNA sample that will be subjected to the sequencing is appropriately processed, to produce the desired nucleotide sequence. The surge in the need for this technique due to the rise in the burden of genetic disorders boosts the market growth.

16S rRNA Sequencing To Witness Highest Growth Rate

Based on technology, the 16S rRNA sequencing category will show the highest CAGR, due to the high accuracy in detecting and categorizing different bacterial strains and affordability of this technology, advancements in bioinformatics solutions, and rising number of initiatives for metagenomic research.

Geographically, the APAC region will show the quickest advance over the forecast period. This will be due to an increase in the investment by domestic and international businesses, a large pool of patients of chronic and infectious diseases, government encouragement for research in advanced healthcare areas, and expansion of the healthcare infrastructure.

Additionally, the metagenomic sequencing market is expected to grow as biopharmaceutical companies are investing significantly in Asian countries for drug discovery and development. Apart from the development of new drugs, the usage of this technique in personalized medicine and diagnosis of all kinds of diseases has sparked a spurt in research studies by pharma companies for novel drugs, utilizing metagenomic techniques.

Among all the regional countries, China led the APAC market in 2022, contributing over more than 40% revenue. Moreover, the market is projected to witness the highest CAGR, of 18.6%, in China during the forecast period. It can be mainly attributed to the high investments being made by Chinese players in the field of genomics, along with the strategic measures, including acquisitions and product launches, to strengthen their foothold in the market.

Japan has contributed significantly to the APAC market too, as it is witnessing collaborations among various industry participants and other stakeholders. Moreover, the Japanese government is taking significant steps to advance research in the field, to encourage the discovery of disease patterns and mechanisms, treatments, and new drugs.

The market in India is also growing due to the government support and increasing activities in genomic research. The country is home to a highly heterogeneous population and genetic diversity, which also contribute to the high prevalence of recessive alleles, often translating into genetic diseases. Thus, to reduce the burden of these diseases and improve their diagnosis and management, the government is planning to speed up research.

Some of the major market players are Illumina Inc., Thermo Fisher Scientific, PerkinElmer Inc., Oxford Nanopore Technologies Plc, QIAGEN N.V., F. Hoffmann-La Roche Ltd., Novogene Co. Ltd., Swift Biosciences Inc., and Agilent Technologies Inc.