MICROBIOME SEQUENCING SERVICE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Microbiome Sequencing Service Market Size and Trends

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.

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Global microbiome sequencing service market is expected to witness significant growth during the forecast period. This can be attributed to factors such as increasing R&D investment and field trials for gut microbiome-based drug development. Additionally, continual technological advancements in sequencing platforms and bioinformatics solutions are supporting high-throughput studies. Rising focus on human microbiome transplants and personalized probiotics as alternative treatment options for various conditions are another key trend driving investments in microbiome profiling services. Expanding applications of microbiome studies in healthcare, industrial, and environmental sectors will further promote market growth over the next few years.

Increasing Service Launches by Key Market Players

Increasing adoption of organic growth strategies such as service launch is expected to drive the market growth over the forecast period. For instance, on February 21, 2024, ALS Limited, a provider of comprehensive testing solutions, announced that it had launched the Gut Microbiome Sequencing service, offering researchers around the world a complete solution for obtaining comprehensive, publication-ready data to deliver in-depth insights into the human and animal gut microbiome. The microbiome sequencing service includes the use of cutting-edge technologies: Invitek Diagnostics Sample Collection Tubes, which allow shelf-stable storage of stool samples for up to 3 months

The key market players are focused on partnerships among key market players which in turn is expected to drive the market growth. For instance, in June 2022, CosmosID, a leading microbial genomics company, and Locus Biosciences Inc., a clinical-stage biotechnology company, announced a partnership for long-term support for clinical trial initiatives. CosmosID’s support for microbiome analysis is expected to assist Locus Biosciences Inc., in strengthening its precision therapeutics platform.