Metagenomics Market is anticipated to Witness High Growth Owing to Increasing Application in Healthcare Sector
Metagenomics is an emerging field which involves studying genetic material recovered directly from environmental samples containing entire communities of organisms consisting of bacteria, fungi, and archaea. In metagenomics, the collected genomic DNA is sequenced directly without culturing the organisms, providing access to the vast majority of microbial diversity. Metagenomics has wide applications in industrial biotechnology, healthcare sector, food quality, and bioremediation. It helps in identification of novel genes and pathways from uncultured microorganisms that can be utilized to develop novel antibiotics, vaccines, biocatalysts, and diagnostic tools. The growth potential of metagenomics is immense as it enables discovery of new biological resources from diverse microbial communities.
The metagenomics market is estimated to be valued at USD 2.18 Bn in 2024 and is expected to reach USD 3.77 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.
Increasing application of Metagenomics Market Size in identifying new genes for developing novel drugs and treatment modalities along with rising emphasis on microbiome-based therapeutics is fueling the market growth.
Key Takeaways
Key players operating in the Metagenomics are Bio-Rad Laboratories, Inc., Illumina, Inc., PerkinElmer, Inc., Thermo Fisher Scientific, Inc., Novogene Co., Ltd., Promega Corporation, QIAGEN, Takara Bio, Inc., Oxford Nanopore Technologies, F. Hoffmann-La Roche Ltd, and PacBio. These players are focusing on expanding their product portfolios and geographic presence through new product launches, expansions, mergers and acquisitions.
Key opportunities in the market include development of customized kits and software solutions to analyze metagenome sequencing data. Growing interest in human microbiome projects for understanding disease pathology and developing personalized treatments also presents significant opportunities.
Globally, North America dominates the metagenomics market due to strong government funding for omics research and presence of leading sequencing companies. However, Asia Pacific is expected to witness fastest growth owing to increasing R&D investment, rising awareness, and large patient pool. Key players are expanding their operations in emerging markets through partnerships and collaborations.
Market drivers: Increasing funding for omics research along with rising focus on identification of new molecules from uncultured microbes through metagenomics is a key market driver. Growing application of metagenomics in human microbiome projects for developing novel drugs and diagnostics is also fueling the market growth.
Market restraints: High infrastructure cost for metagenomics research and data analysis poses a major challenge especially for small companies and research institutes in developing regions. Lack of skilled workforce and standardization issues in metagenomics workflow can also restrain the market growth. However, development of affordable kits and systems would help address these restraints.
Segment Analysis
Metagenomics market is segmented based on technology, application, product type and end user. Based on technology, bioinformatics is the dominating segment as it helps in analyzing genome data. Based on application, environmental segment dominates as metagenomics helps in understanding microbial diversity. Based on product type, sample processing kits dominates as it helps in isolating and purifying DNA from samples. Based on end user, pharma and biotech companies dominate as metagenomics help in drug discovery.
Regional Analysis
North America is the fastest growing region in metagenomics market due to presence of key players and rising R&D investments. Asia Pacific is expected to witness high growth due to increasing biomedicine research and growing collaborations between academia and industry. Europe holds major share due to strong government support for research in metagenomics. Major players are expanding their presence in developing regions to tap market potential.
About Author:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights.
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