Metagenomic Sequencing Market: By Product & Service (Reagents & Consumables, Instruments, Services, Analysis & Data Interpretation Solutions), By Workflow (Sample Processing & Library Preparation, Sequencing, Data Processing & Analysis), By Technology (Shotgun Metagenomic Sequencing, 16S rRNA Sequencing, Metatranscriptomics, Whole-genome Sequencing & De Novo Assembly), By End User (Drug Discovery, Clinical Diagnostics, Soil Microbiome Applications, Industrial Applications, Ecological and Environmental Applications, Veterinary Applications, Other Applications) and Region  

Metagenomic Sequencing Market size was valued at USD 1,126.2 million in 2022 and is poised to grow at CAGR of 17.9% from 2023 to 2029. Metagenomic sequencing aids researchers with a complete sample of all genes in organisms which is present in a complex sample. The method permits microbiologists to evaluate bacterial diversity and detect the abundance of microbes in diverse environments. The Market has provided a better benefit for all biotechnology and microbiology field researchers. The metagenomics technique has observed a significant improvement in microbial evolution, ecology, and diversity, and it is frequently carried out in many research laboratories. The benefits of this metagenomic sequencing technique drive the demand in the metagenomic Sequencing market. Furthermore, increasing advancement of laboratories, advanced platforms, and improved genomic tools are some major growth factors that push the market demand over the forecast period Additionally, growing awareness about genetic disorders is driving the metagenomic sequencing market Size.

The advanced platforms and improved genomic tools are the key growth factors that will accelerate the market during the forecast period. The metagenomic Sequencing market might be hindered by the lack of funding. Such as, in some developing countries, academic R&D is frequently dependent on external funding. Despite continuous efforts by governments and private bodies to offer funds for research across the globe, various research and academic institutes face budget restraints regarding the purchase and use of advanced and premium-priced equipment and technologies. Nevertheless, the application of big data technologies and AI for NGS analysis and the management of workflows has significantly increased the yield of NGS runs, and with the continuous technological development of sequencing techniques would expect to expand the market size over the forecasted period.  

Metagenomic Sequencing Market Key Developments:

• In Jan 2021, Illumina (US) launched Illumina Connected Analytics (ICA), a new and integrated bioinformatics solution to manage, analyze, and explore large volumes of multi-omics data.
• In Jan 2020, Illumina (US) launched the TruSight Software Suite, which enables sample-to-report analysis for genetic disease testing, provides an integrated solution, and delivers valuable insights through easier genomic sequencing