Metagenomic Sequencing Market by Product & Services (Reagent, Consumables, Instrument), Workflow (Sample Preparation, Sequencing), Technology (16S rRNA, Shotgun, Whole-genome), Application (Drug Discovery, Diagnostic, Industrial) - Global Forecast to 2028
The global metagenomic sequencing market in terms of revenue was estimated to be worth $2.0 billion in 2023 and is poised to reach $4.5 billion in 2028, growing at a CAGR of 17.5% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. NGS platforms have undergone continuous technological innovations over the last several years. This has led to reduction in timelines as well as costs associated with genome sequencing and its related applications including metagenomic sequencing. This is one of the key factors driving the growth of this market. However, developing countries still have a lower adoption rate for sequencing products, services due to lack of funding support and budget constraints. This factor is expected to restraint the market to certain extent.
Attractive Opportunities in the Metagenomic sequencing market
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Metagenomic Sequencing Market Dynamics
DRIVER: Continuous technological innovations in NGS platforms
The development of effective, portable, and user-friendly NGS platforms that can deliver quick, accurate findings and faster turnaround times has been made possible by ongoing technological advancements in sequencers. Popular companies are increasingly focusing on R&D to increase their market position and share because the release of such items and technologies gives competitors an immediate competitive edge. For instance, in March 2022, Thermo Fisher Scientific launched Ion Torrent Genexus Dx Integrated Sequencer, an automated next-generation sequencing (NGS) platform. Also, in April 2019, Pacific Biosciences of California launched the Sequel II System. This system reduces project costs and timelines by approximately eight times the data output compared to the previous Sequel System. The iSeq 100 (Illumina) and Ion GeneStudio S5 System (Thermo Fisher Scientific) are other revolutionary platforms that ensure high sequencing efficiency at decreased costs.
RESTRAINT: End user budget constraints in developing countries
Academic R&D is heavily reliant on outside financing in emerging nations. Many research and academic institutions confront budget restrictions when it comes to the purchase and usage of cutting-edge and expensive equipment and technologies, in spite of ongoing efforts by government and commercial agencies to provide funding for research across the globe. NGS sequencers remain expensive even if the cost of NGS sequencing has decreased. Priced at USD 850,000 and USD 985,000, respectively, are Illumina's two most sophisticated sequencing platforms, the NovaSeq 5000 and 6000. These sequencers can be upgraded with new hardware and software to provide sequencing capabilities that are roughly 70% quicker than most of Illumina's current platforms. The Pacific RS II and its Latest sequencing platform-sequel system are offered by Pacific Biosciences in California, another major competitor in the NGS market, for USD 750,000 and USD 350,000, respectively. Despite the introduction of inexpensive sequencing platforms like iSeq, many end users in developing APAC and LATAM nations still find their price to be prohibitive. As a result, the usage of cutting-edge technology like NGS is restricted at academic and research institutions in developing nations, which is impeding the uptake of relevant NGS products for metagenomics.
OPPORTUNITY: NGS data analysis using big data
The amount of data generated during whole genome sequencing often ranges in the terabyte range. The management of such massive amounts of data is a top concern for the NGS-based metagenome sequencing end users. Due to inconsistent data formats and a lack of industry-wide standardisation for data output from various NGS platforms, data storage requirements can be rather complex. The yield of NGS runs has, however, been greatly boosted by the use of big data technologies and AI for NGS analysis and the management of workflows. With improvements in sequencing technology, more data is generated during a sequencing run. Approximately 743 terabytes (743,000 gigabytes) of data are generated during the sequencing of a single human genome, compared to 16.2 gigabytes at the beginning of the human genome project in 2001, according to a report from the National Human Genome Research Institute as of July 2017. In order to examine and analyse this enormous amount of genetic data, which is beyond the scope of human analysis, powerful computational technologies can be used. As a result, a number of businesses are integrating cutting-edge computational technology into their sequencing solutions. As an illustration, Illumina introduced connected analytics (ICA) in January 2021. ICA is a fresh, integrated bioinformatics solution for managing, analysing, and exploring sizable volumes of multi-omics data. The market for metagenomic sequencing will see significant growth as improved NGS solutions centred around big data analytics and cloud computing are developed for handling, storing, and retrieving the massive amounts of data generated.
CHALLENGE: Challenges related to metagenomic NGS
Metagenomic sequencing or metagenomic NGS has a lot of potential, but there are still a lot of barriers to remove before this technology is widely used in laboratories. Interpreting results, such as separating contaminant colonisation from actual infections, choosing and validating databases for research, and forecasting antibiotic susceptibilities present significant hurdles. Despite the fact that metagenomic NGS is analytically more sensitive than conventional culturing techniques, the necessity of removing enormous amounts of human nucleic acid during the preparation for sequencing and the post-analytic process in some cases can reduce the sensitivity in comparison to targeted PCR approaches for many organisms. Due to the fact that metagenomic NGS has a higher analytical sensitivity than conventional culture methods, contamination of materials during specimen collection is a major concern. From evaluating reagent purity to determining acceptable genome coverage controls, there needs to be a validated quality control method. To guarantee that high quality and validated genomes are available with few database errors, bio informatic quality controls are required. The majority of clinical microbiological laboratories lack the bioinformatic specialists necessary to evaluate sequencing results for each test. Since the majority of the nucleic acids in clinical samples come from the host, the sequence reads for metagenomic NGS are heavily influenced by the host genome. As a result, infections present at relatively modest burdens may be harder to detect analytically. Metagenomic NGS testing is projected to become increasingly important in the future as sequencing and bioinformatics processing capabilities increase. However, despite its clinical relevance in the contemporary landscape of medical practise, this technology is quite difficult.
Metagenomic Sequencing Market Ecosystem
Prominent companies in the market includes companies operating in the market for several years and posess diversified product and services portfolio, state-of-the-art technologies, and strong global sales and marketing networks. Prominent companies in the metagenomic sequencing market include Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), QIAGEN N.V. (Netherlands), PerkinElmer, Inc. (US), Oxford Nanopore Technologies plc. (UK), and Pacific Biosciences of California, Inc. (US).
The 16S rRNA Sequencing technology accounted for the largest share of the technology segment in overall metagenomic sequencing industry in 2023.
Based on technology, the metagenomic sequencing market is segmented into 16S rRNA Sequencing, Shotgun Metagenomic Sequencing, Whole-Genome Sequencing & De Novo Assembly and Metatranscriptomics. The 16S rRNA Sequencing technology accounted for the largest share of this market owing to benefits such as high accuracy and affordability are few of the factors driving the growth of the 16S rRNA sequencing market.
The subcutaneous administration segment dominated the route of administration segment in overall metagenomic sequencing industry in 2023.
Based on the workflow, the segment of the metagenomic sequencing market is categorized into sample preparation, sequencing and data processing and analysis. Sample preparation accounted for the largest share of the market owing to factors such as the growing number of metagenome sequencing research projects being conducted, the availability of technologically advanced sample processing and library preparation assay kits among others.
North America was the largest market for overall metagenomic sequencing industry in 2022 and also during the forecast period.
Geographically, the metagenomic sequencing market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The metagenomic sequencing market was dominated by North America in 2022 and this dominance is anticipated to continue throughout the forecast period between 2023 and 2028. The market for metagenomic sequencing is expanding in the region as a result of factors like the growing application of metagenomics in genomics and diagnostics research, the availability of research funding, and the development of NGS data analysis tools.
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The prominent players in the metagenomic sequencing market are Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), QIAGEN N.V. (Netherlands), PerkinElmer, Inc. (US), Oxford Nanopore Technologies plc. (UK), and Pacific Biosciences of California, Inc. (US).
Scope of the Metagenomic Sequencing Industry
Report Metric |
Details |
Market Revenue in 2023 |
$2.0 billion |
Projected Revenue in 2028 |
$4.5 billion |
Revenue Rate |
Poised to Grow at a CAGR of 17.5% |
Market Driver |
Continuous technological innovations in NGS platforms |
Market Opportunity |
NGS data analysis using big data |
This report categorizes the Metagenomic Sequencing Market market to forecast revenue and analyze trends in each of the following submarkets:
By Product & Service
- Reagents and Consumables
- Instruments
- Sequencing Services
- Analysis and Data Interpretation Solutions
By Workflow
- Sample Preparation
- Sequencing
- Data Processing and Analysis
By Technology
- 16s Rrna Sequencing
- Shotgun Metagenomic Sequencing
- Whole-Genome Sequencing and De Novo Assembly
- Metatranscriptomics
By Type
- Drug Discovery
- Clinical Diagnostic
- Soil Microbiome
- Industrial Applications
- Ecological and Environmental
- Veterinary
- Other applications
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- UK
- France
- Rest of Europe (RoE)
-
Asia Pacific (APAC)
- China
- Japan
- India
- Rest of Asia Pacific (RoAPAC)
- Latin America
- Middle East and Africa
Recent Developments of Metagenomic Sequencing Industry
- In September 2022, Illumina, Inc. (US) launched the NovaSeq X series production-scale sequencers, which are capable of generating more than 20,000 whole genomes per year (which is 2.5 times the throughput of prior sequencers from Illumina).
- In September 2021, Thermo Fisher Scientific, Inc. (US) and AstraZeneca(UK) co-developed an NGS-based companion diagnostic. The collaboration was focused on commercializing NGS-based diagnostics in Russia.
Frequently Asked Questions (FAQ):
What is the projected market revenue value of the global metagenomic sequencing market?
The global metagenomic sequencing market boasts a total revenue value of $4.5 billion in 2028.
What is the estimated growth rate (CAGR) of the global metagenomic sequencing market?
The global metagenomic sequencing market has an estimated compound annual growth rate (CAGR) of 17.5% and a revenue size in the region of $2.0 billion in 2023.
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This study involved four major activities in estimating the current size of the metagenomic sequencing market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments.
Secondary Research
Secondary research was used mainly to identify and collect information for the extensive, technical, market-oriented, and commercial study of the metagenomic sequencing market. The secondary sources used for this study include some of the key secondary sources referred to for this study include publications from government sources, such as the World Health Organization (WHO), Institute of Bioinformatics and Applied Biotechnology (IBAB), National Institutes of Health (NIH), Joint Genome Institute (JGI), National Human Genome Research Institute (NHGRI), National Center for Biotechnology Information (NCBI), Personalized Medicine Partnership for Cancer (PMPC), Association for Clinical Genomic Science (ACGS), American Society of Human Genetics (ASHG), European Molecular Biology Laboratory (EMBL), European Bioinformatics Institute (EMBL), European Society of Human Genetics (ESHG), Asia Pacific Society of Human Genetics (APSHG), Biotechnology and Biological Sciences Research Council (BBSRC), Department of Biotechnology (DBT), SciGenom Research Foundation (SGRF), and Malaysian Genomics Resource Centre (MGRC). Secondary sources also include corporate and regulatory filings (such as annual reports, SEC filings, investor presentations, and financial statements); business magazines and research journals; press releases; and trade, business, and professional associations. Secondary data was collected and analyzed to arrive at the overall size of the global metagenomic sequencing market, which was validated through primary research.
Primary Research
In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess prospects of the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the metagenomic sequencing market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and market have been identified through extensive secondary research
- The revenues generated from the metagenomic sequencing business of leading players have been determined through primary and secondary research
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
Global metagenomic sequencing Market: Bottom Up Approach
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Global metagenomic sequencing Market Size: Top Down Approach
Data Triangulation
After arriving at the overall market size from the market size estimation process, the total market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
Metagenomic sequencing is a fairly new approach in genomic analysis, which involves the sequencing and analysis of genetic materials obtained from environmental samples without the prior isolation and cultivation of individual species. This method provides an unbiased detection of all microbial groups, resistance markers, and virulence factors, as well as host biomarkers associated with different disease states. This technique is highly efficient in the analysis of unculturable or previously unknown microbes present in rich microbiota, hence gaining acceptance and opening new avenues in the fields of microbial ecology, virology, microbiology, environmental sciences, and biomedical research.
Key Stakeholders
- Contract research organizations (CROs)
- Metagenomic sequencing equipment manufacturers, vendors, and distributors
- Metagenomic sequencing service companies
- Research laboratories and academic institutes
- Venture capitalists and other government funding organizations
- Research and consulting firms
- Healthcare institutes
- Pharmaceutical and biotechnology companies
Report Objectives
- To define, describe, and forecast the global metagenomic sequencing market by product & service, workflow, technology, application, and region
- To strategically analyze micromarkets1 with respect to individual growth trends, future prospects, and contributions to the total market
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To provide detailed information regarding the major factors influencing the market growth, such as drivers, restraints, opportunities, and challenges
- To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To strategically analyze the market structure and profile the key players of the global metagenomic sequencing market and comprehensively analyze their core competencies2
- To track and analyze competitive developments such as expansions, acquisitions, partnerships, collaborations, agreements, and product & service launches in the metagenomic sequencing market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for this report:
Company Information
- Twenty five company profiles
Growth opportunities and latent adjacency in Metagenomic Sequencing Market
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