Technological Innovations in NGS Platforms – A Key Factor Driving Growth in the Metagenomic Sequencing Market – ResearchAndMarkets.com – Business Wire

DUBLIN--(BUSINESS WIRE)--The "Metagenomic Sequencing Market by Product & Services (Reagent, Consumables, Instrument), Workflow (Sample Preparation, Sequencing), Technology (16S rRNA, Shotgun, Whole-genome), Application (Drug Discovery, Diagnostic) - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.

The metagenomic sequencing market is expected to reach USD 4.3 billion by 2027 from USD 1.9 billion in 2022, at a CAGR of 18.4% during the forecast period.

Growth in the metagenomic sequencing market is mainly driven by continuous technological innovations in NGS platforms, increasing initiatives and funding from government & private bodies for large-scale sequencing projects, declining costs of genome sequencing, and the significant applications of metagenomics in various fields.

Market Dynamics

Based on technology, the metagenomic sequencing market is segmented into 16S rRNA sequencing, shotgun metagenomic sequencing, whole-genome sequencing & de novo assembly, and metatranscriptomics. The shotgun metagenomic sequencing segment is estimated to grow at the highest CAGR during the forecast period. This can be attributed to its advantages over other techniques, the growing adoption of shotgun metagenomic sequencing among researchers and healthcare professionals, and the increasing number of metagenomic sequencing-based research activities.

Based on workflow, the market has been segmented into sample processing & library preparation, sequencing, and data processing & analysis. The sample processing & library preparation segment accounted for the largest share of the metagenomic sequencing market in 2021. The large share of this segment can be attributed to the growing number of metagenome sequencing research projects being conducted, the availability of technologically advanced and robust sample processing and library preparation assay kits, and the demand for efficient library preparation products.

The market in Asia Pacific is expected to register the highest growth rate during the forecast period, primarily due to the increasing financial support from public as well as private agencies, the increasing number of NGS-based research projects, increasing awareness about precision medicine, and the rising prevalence of chronic diseases.

North America accounted for the largest share of the metagenomic sequencing market in 2021. Factors such as the increasing applications of metagenomics in diagnostics and genomics research, the availability of research funding, and the development of NGS data analysis solutions are driving the growth of the metagenomic sequencing market in North America.

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Technological Innovations in NGS Platforms - A Key Factor Driving Growth in the Metagenomic Sequencing Market - ResearchAndMarkets.com - Business Wire