Global Metagenomics Market to Grow at 10% During 2024-2032, Impelled by Rising Need for Drug Discovery

December 10, 2021 | Healthcare

According to the latest report by IMARC Group, titled "Metagenomics Market Report by Product (Instruments and Software, Consumables), Technology (Sequencing, Bioinformatics), Application (Infectious Disease Diagnosis, Environmental Remediation, Gut Microbe Characterization, Biotechnology, Biofuel, Agriculture), and Region 2024-2032," the global metagenomics market reached a value of US$ 563.1 Million in 2023. Metagenomics refers to the research field that assists researchers in studying the characteristics of genetic substances that are acquired from environmental samples. It involves the usage of multiple molecular tools, such as bioinformatics and sequencing techniques, in order to determine the insights of microbial genomes and analyze the structure of the human microbiome. Additionally, it also assists laboratory professionals in identifying the relationship between antimicrobial resistance and pathogens. Apart from this, it also aids in evaluating the microbiomes that are associated with various chronic illnesses to develop personalized medicines and treatments.

Global Metagenomics Market Trends: 

The global market is primarily driven by the rising prevalence of virus-induced infections. This is supported by the sudden outbreak of coronavirus disease (COVID-19) across the globe. Along with this, the increasing incidences of genetic disorders, especially among infants, and the rising geriatric population, which is more susceptible to medical ailments, are also contributing to the market growth. Moreover, continual technological advancements in the genomics industry, such as the widespread adoption of Artificial Intelligence (AI) technology that assists in genome mapping and annotation, are providing a boost to the market growth. Also, the introduction of next-generation sequencing (NGS) services is acting as a major growth-inducing factor. Furthermore, continuous improvements in the healthcare and pharmaceutical sectors are also projected to drive the market further. Some of the other factors contributing to the market growth include the rising demand for clinical diagnostics and drug discovery and increasing investments to conduct extensive research and development (R&D) activities. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 10% during the forecast period (2024-2032).

Market Summary:

  • On the basis of the product, the market has been bifurcated into instruments and software and consumables.
  • Based on the technology, the market has been classified into sequencing and bioinformatics.
  • On the basis of the application, the market has been categorized into infectious disease diagnosis, environmental remediation, gut microbe characterization, biotechnology, biofuel and agriculture.
  • Based on the region, the market has been divided into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include Agilent Technologies Inc, Enterome, Eurofins Scientific, F. Hoffmann-La Roche AG (Roche Holding AG), Illumina Inc, Novogene Co. Ltd., Oxford Nanopore Technologies Limited, Pacific Biosciences of California Inc., PerkinElmer Inc., QIAGEN N.V., Swift Biosciences Inc. (Danaher Corporation) and Thermo Fisher Scientific Inc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Product, Technology, Application, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Agilent Technologies Inc, Enterome, Eurofins Scientific, F. Hoffmann-La Roche AG (Roche Holding AG), Illumina Inc, Novogene Co. Ltd., Oxford Nanopore Technologies Limited, Pacific Biosciences of California Inc., PerkinElmer Inc., QIAGEN N.V., Swift Biosciences Inc. (Danaher Corporation) and Thermo Fisher Scientific Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Metagenomics Market to Grow at 10% During 2024-2032, Impelled by Rising Need for Drug Discovery
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