Metagenomic Sequencing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2021 - 2031
Metagenomic Sequencing Market – Overview
The growth in the metagenomic sequencing market has been owing to numerous factors. The market growth is generally attributed to the constant technological innovations in the NGS platforms. Along with this, growing funding and initiatives from the private & government bodies for the large-scale sequencing projects are also bolstering expansion avenues in the global market in the coming years.
Growing applications of metagenomics in numerous fields and declining costs of genome sequencing have been creating novel growth impetuses in the global market throughout the forecast period. Furthermore, constant technological innovations in the sequencers have also enabled the introduction of easy-to-use, portable, and efficient NGS platforms. These technological advancements are also providing accurate and rapid results to improve turnaround times. These factors are likely to drive growth opportunities in the global market in the following years.
Metagenomic Sequencing Market – Key Drivers
The data produced in the whole-genome sequencing is generally in the terabytes range. Management of such huge data has been a prominent concern for the end-users operating in the market. The requirements for data storage can be complex because of inconsistencies in the data formats along with a lack of standardization in the industry for the data output. However, the use of AI and big data technologies for NGS analysis and workflow management has been predicted to fuel expansion opportunities in the market in the near future.
The huge amount of data generated during sequencing runs is beyond the ability of human analysis and it further provides opportunities to apply advanced computing technologies for its analysis and assessment. Furthermore, there are numerous companies around the world that have been incorporating advanced computational technologies into their offerings. These factors are likely to fuel growth prospects in the metagenomic sequencing market.
Private as well as government bodies around the world are putting efforts in order to providing monetary aid for numerous research activities. Despite this funding, there are numerous academic and research institutes that encounter budget constraints that are primarily related to the purchase and application of the premium-priced and advanced technologies and equipment. These factors are likely to limit the growth avenues in the metagenomic sequencing market.
Metagenomic Sequencing Market – Recent Developments and Key Players
The metagenomic sequencing market is marked by the presence of major players that are operating in the region as well as on global platforms. So, based on their presence, the market nature is becoming fragmented. Further, these industry players have also been focusing in order to incorporating novel growth strategies for the achievement of their desired objectives. In addition to these factors, increasing penetration of the global players along with growing awareness among consumers about industry brands is creating growth avenues in the global market. Launching of novel industry players, product portfolio expansion, mergers or tie-up, and growing R & D activities for the enhancement of the company portfolio are applied by prominent market players around the world.
Some of the key players in the metagenomic sequencing market are:
Metagenomic Sequencing Market – Regional Assessment
The metagenomic sequencing market has been operating in numerous regions around the world, and the prominent regions are North America, APAC, Europe, the Middle East & Africa, and LAMEA. Out of these major global areas, North America has been projected to hold a noteworthy share in the global market in the near future. The availability of research funding and rising applications of metagenomics in genomics research and diagnostics have been estimated to drive growth impetuses in the regional market. Along with these factors, the development of NGS data analysis solutions has also been predicted to drive growth opportunities in the metagenomic sequencing market.
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