Microbiome Sequencing Service Market Poised to Witness Substantial Growth Owing to Increasing Demand for Microbiome Research
Microbiome Sequencing Service Market Poised to Witness Substantial Growth Owing to Increasing Demand for Microbiome Research
Blog Article
The Microbiome sequencing service market provides sequencing services targeting the microbiome, which comprises the collective genomes of microorganisms like bacteria, archaea, viruses, and fungi that reside in defined environmental niches of the human body and other specimens The Microbiome Sequencing Service Market helps to characterize microbial communities and analyze their functions and activities.
Global microbiome sequencing service market is estimated to be valued at USD 1.97 Bn in 2024 and is expected to reach USD 4.13 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 11.1% from 2024 to 2031.
Key Takeaways
Key players: Key players operating in the Microbiome sequencing service market are Microbiome Insights Inc., Baseclear B.V., Clinical Microbiomics A/S, Mérieux NutriSciences Corporation, MR DNA, Zymo Research Corporation, Metabiomics Corp., uBiome, Inc., Microbiome Therapeutics Innovation Group, Locus Biosciences, Inc., OpenBiome, Shanghai Ruiyi Biotechnology Co., Ltd., Resphera Biosciences, LLC, Molzym GmbH Co. KG, BioSpherex LLC, and Diversigen.
Key opportunities: The growing investments in microbiome research and development of advanced sequencing technologies present significant opportunities for players in the market. Furthermore, the scope for geographical expansion and custom sequencing service offerings can present lucrative growth prospects.
Global expansion: Major players are focused on expanding their global footprint through collaborations and strategic partnerships. In addition, acquisitions can help companies gain access to new technologies and territories. Asia Pacific and Latin America are likely to witness increased investment by global market leaders over the forecast period.
Market drivers: Increasing demand for microbiome research from various application industries such as healthcare, pharmaceutical, food, and environmental science is a major market driver. Microbiome Sequencing Service Market Size and Trend studies are providing novel insights on various disease conditions, metabolic pathways, and ecological functions, thereby promoting growth.
PEST Analysis
Political: Governments across the globe are focusing on investing in research and development activities related to microbiome sequencing. Regulatory policies are being formulated to standardize protocols related to clinical studies involving microbiome.
Economic: Rising healthcare expenditure and growing demand for personalized medicine is driving investments into microbiome research. Cost of DNA sequencing has reduced significantly over years making the tests more affordable.
Social: Increasing awareness about microbiome and its role in human health has increased demand for microbiomics based therapies and diagnostics. People are more inclined towards preventive healthcare approaches.
Technological: Next generation sequencing platforms have enabled high throughput and affordable sequencing of entire microbiome. Bioinformatics tools allow analysis of large datasets generated. Microfluidics and microarray technologies aid in sample preparation and analysis.
Geographical concentration
In terms of value, North America accounts for the largest share of the global microbiome sequencing service market. This is attributed to presence of major players, huge investments in R&D by private and public organizations, and growing awareness levels among people regarding gut health. Asia Pacific is witnessing fast growth on account of rising healthcare expenditure, growing geriatric population, and presence of low-cost service providers.
Fastest growing region
Asia Pacific region is poised to witness highest CAGR during the forecast period in the microbiome sequencing service market. This is owing to emergence of China and India as global economic powers, increasing collaborations between local and international companies, rising incidence of chronic diseases, growing middle class with higher spend on health and wellness. Governments are supporting initiatives to develop indigenous R&D capabilities and commercialization of microbiome-based products and services.
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