Metagenomics Market Growth Drivers and Forecast by 2027

[Research Report] The Metagenomics market size was projected to grow from US$ 165.8 million in 2018 to US$ 314.3 million by 2027; it is further estimated to record a CAGR of 7.7% from 2019–2027.

Market Insights and Analyst View:

Metagenomics is defined as the study of the metagenome, which is the collective genome of microorganisms. The microorganisms are collected from environmental samples, and studies are conducted to provide information on a specific environment's microbial diversity and ecology. Microorganisms are studied through the shotgun metagenomics technology/ technique used to extract the DNA from the environmental sample and sequence the small fragments. Metagenomics is a rising and vibrant field that has appropriated the tools used for standard genomics and applied them to study entire communities of microbes. This requires no need to isolate and culture the individual microbial species. Metagenomics primarily aims to study and identify microbial species' genes and metabolic pathways.

The reduced metagenomic sequencing cost and increasing genome projects will likely contribute to the metagenomics market's growth. The rising prevalence of chronic and infectious diseases such as cancer, chronic liver disease, and others may increase the adoption of metagenomics for timely diagnosis. The increasing adoption of metagenomics in clinical diagnostics propels the market growth. Metagenomics assists in disease detection in crops and livestock by exploring the interaction between plants and microbes, which might drive the growth in this niche. Thus, the abovementioned factors are likely to propel the global metagenomics market size.

Growth Drivers and Challenges:

Metagenomic is a field that combines various important molecular technologies and enables scientists to investigate microorganisms more deeply. The technology enables to unlock the vast biotechnological potentials that are held inside the microorganisms. Metagenomics helps to identify microorganism irrespective of whether they can be cultured or not. The analysis can be done from the genomic data obtained directly from an environmental sample that provides information about the species existing and it also allow the extraction of information regarding the functionality of microbial communities in their natural habitat.

 In addition, the metagenomics also holds the capabilities in the food and pharmaceutical industries. For instance, metagenomics can be useful for the identification of enzymes with desirable technological properties. This enables to relate the capable of catalysing novel reactions which may be difficult or expensive to produce. Moreover, it enables to identify the functions under a wide range of environmental conditions encountered in food and pharmaceutical processing cycles including extreme conditions of temperature, pH, osmolarity and others.

Furthermore, the biotechnological application from metagenomics is likely to foster by the pursuit of fundamental ecological studies and focused screens for bioprospecting. Metagenomics has contributed to the discovery of antibiotics and industrial enzymes from cultured microorganisms. For instance, the discovery of streptomycin and other bacterial antibiotics bounced from very basic studies of metagenomics.

Therefore, owing to the advantages of the metagenomics for the application in biotechnologies are likely to boost the growth of the metagenomics market in the forecast years.

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Metagenomics Market: Strategic Insights

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Report Segmentation and Scope:

The “Global Metagenomics Market” is segmented based on product, application, and geography. The metagenomics market by product is categorized into instruments & software and consumables. The market for metagenomics is majorly driven by consumables, as there is large requirement of consumables and kits during the research process.

The application segment of the metagenomics market is broadly segmented into clinical diagnostic, drug discovery metagenomics and others. The other applications of the metagenomics services includes the identification of the innovative biocatalysts, discovery of new antibiotics, personalized medicine and others.

The metagenomics market based on geography is segmented into North America (US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Spain, and Rest of Europe), Asia Pacific (Australia, China, Japan, India, South Korea, and Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, UAE, and Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and Rest of South & Central America)

Segmental Analysis:

The product segment of the metagenomics market is broadly segmented into instruments & software and consumables. The market players in the market are offering diverse portfolio for metagenomics to the researchers for conduction innovations in the technologies.

The rise in the metagenomics studies is leading to the growth of the metagenomics product, platforms and services. The companies such as Illumina, Inc, ThermoFisher Scientific Inc, Qiagen, Perkin Elmer among others are major players in the market for the metagenomics. The consumables is the largest segment among the product segment in the metagenomics market in 2018 and is also anticipated to hold the largest market in the year 2027.

The research also requires the consumables and kits in large quantity and there are various market players that offers reagents kits and other consumables that are required for the metagenomics. For instance, Illumina inc., offers MiSeq v3 Reagents Kits, MiSeq v2 Reagents Kits, NextSeq 500/550 v2 Kits, HiSeq 4000 SBS Kit and PE Cluster Kit. Perkin Elmer Inc offers NEXTflex library preparation kits which include NEXTflex 16S and 18S Amplicon-Seq Kits. Similarly, Merck KGaA offers broad array of qPCR kits and probes for all detection chemistries and all instrument platforms. The portfolio includes standard qPCR kits, Capillary tube qPCR kits, high-throughput qPCR kits and one-step qRT-PCR kits among the others.

Regional Analysis:

Based on geography, the metagenomics market is divided into five key regions: North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa. In terms of revenue, North America dominated the metagenomics market share. The North America metagenomics market has been segmented into US, Canada, and Mexico. The US holds the largest share of the North American metagenomics market. The growth in North America is characterized by increase in the demand of the metagenomics, increasing funding for the metagenomics, and the rise in the demand for the precision medicine to treat various diseases.

Further, presence of major market players in the US and increasing number of metagenomics project is likely to drive the US metagenomics market. The major players headquartered in the US are also focused towards developing innovative and novel products and bringing them into market, which is also one of the major factors driving the growth of US in the global metagenomics market. Moreover, the companies are significantly investing under research and development to come-up with medical products that are derived from natural microbial sources. For instance, in August 2018, Genentech and Lodo initiated a US$ 1 Bn project to develop unique, natural products from the microbial DNA found in soil. Under the collaboration, Genentech will use Lodo’s metagenome-prospecting platform to identify novel small molecules with the potential for treating disease. Thus, the presence of major market players will likely contribute to the growth of the US metagenomics market size.

Additionally, Asia Pacific is fastest growing market for metagenomics. China, India and Japan are three major contributors to the growth of the market which is driven by increasing investments by the governments of the respective countries in the region, rise in the programs such as in India and the extensive research in respective countries. The region is anticipated to be the fastest growing region owing to the above-mentioned factors and these factors are to likely drive the metagenomics market in the forecast period.

Further, Europe metagenomics market includes the consolidated markets for France, Germany, the United Kingdom (UK), Spain, Italy, and the Rest of Europe. Europe occupies the second position in the global metagenomics market and is expected to register a robust growth rate over the forecast period. Government and private funding for metagenomics, launch of innovative technologies and metagenomics-based products and diagnostic tests as well as increase in various research for programs for the metagenomics are likely to be the major factors driving the growth of this market in the European region.

Middle East and Africa consists of three major countries namely United Arab Emirates (UAE), Saudi Arabia and South Africa. UAE is the largest market for metagenomics. The market is driven by extensive research programs undertaken by a number of research institutes and availability of infrastructure and facilities for research in UAE and Saudi Arabia. The support by the government in these countries are likely to drive the growth of the market. On the other hand, the growth of the metagenomics market in South Africa is likely to grow significantly due to the extensive research and initiatives by the institutes and government bodies to enhance the biotechnology field.

The South and Central America region broadly describes about the country Brazil. The growth of the metagenomics market in the country is led by the excessive research and studies for the metagenomics. In addition, the universities in the Latin America are collaborating to increase the studies that are related to the research field. Thus, owing to these factors the metagenomics market in the region is likely to grow at a speedy rate and is anticipated to increase its market share in the global market of the metagenomics in the coming forecast period.

Industry Developments and Future Opportunities:

Some of the activities undertaken by the company, which have promoted its growth are product launches, expansion, and others. Such activities are the major market players likely to boost the global metagenomics market. Various initiatives taken by key players operating in the global metagenomics market are listed below:

1. In June 2023, Delve Bio, a pioneer in metagenomic next-generation sequencing (mNGS) for infectious diseases, received funding of $35 million which will be used to commercialize the company’s mNGS-based infectious disease test. This test was developed by infectious disease experts ofcc the University of California San Francisco (UCSF) Center for Next-Gen Precision Diagnostics 
2. In June 2022, Oxford Nanopore released a novel protocol for the rapid metagenomic characterization of DNA and RNA viruses. This protocol illustrates a simple metagenomic workflow that can be used to discover DNA and RNA viruses. This protocol has been adopted in human clinical samples to identify the pathogen known as the monkeypox virus.
3. In September 2022, Illumina, Inc. launched the NovaSeq X series production-scale sequencers, which has the capability of generating more than 20,000 whole genomes per year (which is 2.5 times more the throughput of prior sequencers from Illumina).
4. In September 2021, AstraZeneca and Thermo Fisher Scientific, Inc. together developed an NGS-based companion diagnostic product. The collaboration was focused on marketing the NGS-based diagnostic products in Russia.
    

Metagenomics Market Regional Insights

The regional trends and factors influencing the Metagenomics Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Metagenomics Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Metagenomics Market Report Scope

Metagenomics Market Players Density: Understanding Its Impact on Business Dynamics

The Metagenomics Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Metagenomics Market are:

1. Merck KGaA
2. Thermo Fisher Scientific Inc.
3. Agilent Technologies
4. Qiagen
5. Bio-Rad Laboratories, Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

Covid-19 Impact: 

Across the various healthcare sectors, the effect of a pandemic could be felt, which resulted in various changes in the health care industry. Scientists across the globe are collaborating to generate and distribute genomic sequence data information which could be applied to disease diagnosis and control efforts. The US is increasing its ability to track coronavirus mutations with genomic sequencing techniques as reserchers warned that new variants increase the number of cases and hospitalizations. For instance, the US ranked 43rd in genome sequencing project by sequencing 3% of the sample, according to the GISAID Initiative, a global genome sequencing database project. The sequencing of the genome can help in the fight against Covid-19 and its newly emerging variants.

Moreover, in April 2020, genome Canada launched CanCOGeN, the Canadian COVID Genomics Network, an initiative backed with USD 40 million funding. The role of CanCOGeN is to establish a coordinated pan-Canadian, cross-agency network for large-scale SARS-CoV-2 and human host sequencing in order to track viral origin, spread and evolution, to characterize the role of human genetics in COVID-19 disease and to inform time-sensitive critical decision making relevant to health authorities across Canada during the pandemic. All such developments will add to the future demand for the metagenomics market.

Competitive Landscape and Key Companies:

Some of the prominent players operating in the global metagenomics market include Merck KGaA, Thermos Fisher Scientific Inc., Qiagen, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Perkin Elmer, Inc., Illumina Inc. and F. Hoffmann-La Roche Ltd. among others. These companies have been implementing various inorganic developments that have bought about dynamic improvements in the metagenomics market due to the involvement of major players which has led to availability of better services and products in the market. Thus, allowing them to serve a large set of customers and subsequently increase their market share.