The consumables segment held the major market share among the product segment in the metagenomics market
According to a new market research study titled ‘Metagenomics Market to 2027 - Global Analysis and Forecasts by Product, Application, and Geography. The global metagenomics market is expected to reach US$ 314.3 Mn in 2027 from US$ 165.8 in 2018. The market is estimated to grow with a CAGR of 7.7% from 2018-2027. The report highlights the trends prevalent in the global metagenomics market and the factors driving the market along with those that act as deterrents to its growth.
Global metagenomics market, based on the product was segmented into instruments and software and consumables. In 2017, the consumables segment held a largest market share of 62.0% of the metagenomics market, by product. This segment is also expected to dominate the market in 2027 owing to extensive research and availability of the consumables by various players. Furthermore, the instruments segment is anticipated to witness the fastest growth rate during the forecast period, 2018 to 2027.
The market is likely to witness a rapid growth owing to factors such as increasing venture capital investments, advantages of metagenomics in biotechnology and industrial applications of metagenomics. Additionally, the market is also likely to be accelerated by potential market in the emerging nations is expected to offer significant growth opportunities to the market players to capitalize and expand its customer base in Asian and Latin American regions. However, high capital costs of metagenomics is anticipated to restrain the market growth.
Key market players of Metagenomics market are Merck KGaA, Thermo Fisher Scientific Inc., Agilent Technologies, Qiagen, Bio-Rad Laboratories, Inc., Perkinelmer Inc., and Illumina Inc., F. Hoffman-La-Roche Ltd., Oxford Nanopore Technologies Ltd., Pacific Bioscience of California, Inc. among others. The market players are indulged into bringing new products to the market to keep to the pace of the competitive market nature. For instance, in June 2018, Thermo Fisher Scientific Inc., announced the launch of its new Invitrogen TaqMan & SYBR Green Fast Advanced Cells-to-CT Kits, further strengthening its line of RNA Cells-to-CT products. With the Fast Advanced Cells-to-CT Kits, researchers will experience a faster reverse transcriptase reaction and have access to a qPCR master mix system fully optimized to improve sensitivity to detect rare transcripts. Additionally, in August 2018, Agilent Technologies Inc. announced launch of the new version of its chromatography data system that will help to export lab files in the Allotrope Data Format (ADF), an emerging standard developed by a consortium of pharmaceutical companies.
The report segments the global metagenomics market as follows:
Global Metagenomics Market - By Product
Instruments & Software
Global Metagenomics Market - By Application
Global Metagenomics Market - By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South & Central America (SCAM)
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