METAGENOMICS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
Global metagenomics market is estimated to be valued at USD 2.18 Bn in 2024 and is expected to exhibit a CAGR of 8.1% during the forecast period (2024-2031). Metagenomics is the study of genetic material recovered directly from environmental samples without cultivating the microorganisms. It allows researchers to study the collective genomes of microbial communities inhabiting a particular environment and understand how they interact with each other and their surroundings. By avoiding the need for isolation and laboratory cultivation of individual microbial species, metagenomics provides a cost-effective way to characterize the genomes of uncultured microbial majority and obtain a broader perspective of the biological composition of various ecological niches.
Market Dynamics:
The global metagenomics market growth is driven by increasing R&D spending on genomics, rising prevalence of infectious diseases, and growing applications of metagenomics across various industries like healthcare, pharmaceutical, biotechnology, and agriculture. However, technical challenges related to data management and analysis due to the huge amount of sequence data generated restrain the market growth. Growing food safety concerns and development of point-of-care diagnostics utilizing metagenomics provide lucrative opportunities for market players.
Key Features of the Study:
- This report provides in-depth analysis of the global metagenomics market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global metagenomics market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Bio-Rad Laboratories, Inc., Illumina, Inc., PerkinElmer, Inc., Thermo Fisher Scientific, Inc., Novogene Co., Ltd., Promega Corporation, QIAGEN, Takara Bio, Inc., Oxford Nanopore Technologies, F. Hoffmann-La Roche Ltd, and PacBio
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global metagenomics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global metagenomics market
Market Segmentation
Market Segmentation
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