ID: MRFR/HC/6063-HCR | February 2021 | Region: Global | 160 pages
$5380.93 million
18.10%
North America
2020–2030
The microbiome sequencing services market is expected to grow significantly over the forecast period. It is estimated that the microbiome sequencing services market is expected to register a CAGR ~ 18.10% during the forecast period of 2020–2030, with an estimated market value of USD 5380.93 million by 2030. A microbiome is the unique collection of trillions of microorganisms in and on an individual’s body. Microbiome sequencing is a diagnostic technique in which millions and billions of DNA strands can be parallelly sequenced.
The microbiome sequencing services market is driven by factors such as rising demand for microbiome research, high investment in next-generation sequencing, and reduction in the cost of next-generation sequencing. For instance, according to the data published by the Wall Street Journal in 2016, venture funding in microbiome firms raised by 458.5% to USD 114.5 million from 2011 to 2015. Additionally, widening applications of microbiome sequencing and rise in the genome mapping programs are propelling the growth of the market.
On the other hand, the lack of skilled technicians, ethical and legal issues related to genome sequencing, and unaffordability of microbiome sequencing services in certain economies is thwarting the growth of microbiome sequencing services market to an extent.
Moreover, major companies in the market are involved in strategic collaborations to sustain their position in the market. For instance, in November 2017, Microbiome Therapeutics, LLC launched the first microbiome modulator. This product is a natural blend of prebiotics manufactured to help nurture and nourish beneficial microorganisms in the lower gut.
Segmentation
The microbiome sequencing services market has been segmented into technology, application, and end user. The market, based on technology, has been segmented into Sequencing by Litigation (SBL), Sequencing by Synthesis (SBS), short gun sequencing, targeted gene sequencing, RNA sequencing, and others. The market, by application, has been further segmented into gastrointestinal diseases, infectious diseases, CNS diseases, oncology, and others. The market, by end user, has been segmented into research and academic institutes, pharmaceutical and biotechnology companies, and others.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The microbiome sequencing services market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada. The European microbiome sequencing services market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The microbiome sequencing services market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The microbiome sequencing services market in the Middle East & Africa has been segmented into the Middle East and Africa.
Regional Market Summary
Global Microbiome Sequencing Services Market Share (%), by Region, 2017
Source: World Health Organization (WHO), Institute of Medicine (IOM)
Geographically, the Americas is expected to dominate the global microbiome sequencing services market due to the increasing per capita healthcare expenditure, and the heavy adoption of new technology. Furthermore, rising expenses in research and development by healthcare bodies and the government is anticipated to drive the growth of the market in this region.
Europe showed a considerable amount of growth in the global microbiome sequencing services market. The market growth in this region is because of the presence of a well-established healthcare system and increase in chronic diseases. For instance, according to cancer research UK, there were approximately 9, 921 cases of cancer diagnosed in 2015. Such high rates of cancer are likely to increase demand for use of next-generation sequencing as well as increase the market demands for monoclonal bodies and cellular research. These factors are expected to have a positive impact on the microbiome sequencing services market.
Asia-Pacific is expected to have a sturdy growth rate during the forecast period owing to the huge patient pool of chronic diseases and government initiatives of healthcare reforms. However, less capital investment and awareness regarding healthcare IT are restricting the market growth of this region.
On the other hand, the Middle East & Africa has the least share of the market due to the low disposable income. Moreover, the limited adoption of advanced healthcare facilities and limited access to treatment facilities is also expected to drive the growth of the market in the near future.
Microbiome Sequencing Services Market, by Technology
Microbiome Sequencing Services Market, by Application
Microbiome Sequencing Services Market, by End User
Microbiome Sequencing Services Market, by Region
Microbiome Sequencing Services Market, by Key Players
Intended Audience
Report Attribute/Metric | Details |
---|---|
Market Size | 2030 : 5380.93 Million |
CAGR | 18.10% (2020-2030) |
Base Year | 2019 |
Forecast Period | 2020-2027 |
Historical Data | 2018 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Technology, Application, and End user |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Baseclear B.V., Clinical Microbiomics A/S, EPIBIOME, Merieux Nutrisciences Corporations, Metabiomics Corp., Microbiome Insights Inc., Microbiome Therapeutics LLC., MR DNA, Rancho Biosciences, Second Genome, Ubiome Inc., Zymo Research Corp. |
Key Market Opportunities | New product launches and R&D Amongst major key Players |
Key Market Drivers |
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Frequently Asked Questions (FAQ) :
The microbiome sequencing services market was valued at USD 5380.93 million in 2030.
The microbiome sequencing services market is expected to exhibit a robust 18.10% CAGR over the forecast period from 2020 to 2030
The rising demand for microbiome research and next-generation sequencing is the major driver for the market.
The Americas hold the dominant share in the market.
Leading players in the microbiome sequencing services market include Baseclear, EPIBIOME, Metabiomics, MR DNA, Ubiome, and Zymo Research Corp., among others.