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Microbiome Sequencing market size, share
PORTLAND, OREGON, UNITED STATES, August 22, 2024 /EINPresswire / -- Introduction
The global microbiome sequencing market , valued at $859.4 million in 2021, is projected to soar to $3,417.09 million by 2031, reflecting a robust CAGR of 14.8% from 2022 to 2031. This exponential growth is fueled by advancements in microbiome research, the rising prevalence of chronic diseases, and the increasing demand for personalized medicine. Microbiome sequencing, which involves studying the complex communities of microorganisms within the human body, particularly in the gut, has become a critical tool in understanding human health and disease.
Key Market Players
1 Biosciences
2 BV
3 Research CosmosID
5 Research Corporation
6 Technologies (Diversigen)
7 Microbiomics
8 River Laboratories International
9 Insights
10 Co.
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Historical Overview
From 2021 to 2031, the microbiome sequencing market has undergone significant qualitative and quantitative transformations. A major portion of this growth has been driven by the Asia-Pacific region, which has witnessed a surge in investments in microbiome research. The increasing awareness of microbiome sequencing's potential applications has also contributed to this growth, particularly in emerging markets.
Market Dynamics
The microbiome sequencing market is poised for growth due to several key factors. Innovations in the pharmaceutical industry, coupled with a growing pool of health-conscious consumers, are creating opportunities for the expansion of microbiome sequencing services. The rise in research and development activities, particularly in genomics, is another significant driver. As more studies explore the relationship between microbiomes and chronic diseases, the demand for microbiome sequencing is expected to rise.
The market is also benefiting from the decreasing costs of sequencing technology and the expanding applications of microbiome research in cancer treatment. For instance, a 2021 study published in BMC highlighted the use of microbiome sequencing in predicting the prognosis of colorectal cancer. The increasing use of microbiome data in drug development and personalized medicine is further fueling market growth.
However, the market faces challenges, including a shortage of skilled professionals and stringent regulatory frameworks. Despite these hurdles, the ongoing advancements in sequencing technologies and the growing demand for next-generation sequencing present lucrative opportunities for market players.
Segmental Overview
The microbiome sequencing market is segmented by technique, research approach, end user, and region.
By Technique: The market includes shotgun sequencing, RNA sequencing, targeted gene sequencing, and whole-genome sequencing. RNA sequencing currently holds the largest market share due to its widespread use in 16S and ITS2 rRNA gene sequencing services. Shotgun sequencing is also gaining traction for its ability to provide comprehensive coverage of microbiome taxonomy, including viruses.
By Research: The market is divided into outsourced and internal research. Outsourced research dominates the market, driven by the need to reduce costs and streamline processes.
By End User: The market is segmented into pharmaceutical and biotechnology companies, and academic and research centers. Academic and research centers hold the largest market share, driven by the increasing volume of microbiome research and the demand for precise, reliable results.
By Region: North America leads the global microbiome sequencing market , supported by high awareness, government initiatives, and significant investments in research. However, Asia-Pacific is expected to experience the highest growth during the forecast period, driven by increasing investments in microbiome research and the growing use of sequencing technologies in genomics and proteomics.
Regional and Competitive Analysis
North America, with its advanced healthcare infrastructure and strong research ecosystem, dominates the microbiome sequencing market. The region's market growth is further bolstered by the presence of major players such as Microbiome Insights and Charles River Laboratories. Meanwhile, Asia-Pacific is emerging as a key growth region, with countries like Japan and China leading investments in microbiome research. Notably, Japanese firm bitBiome received significant funding to study the relationship between bacteria and various diseases, including cancer.
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.