The global metagenomic sequencing market is projected to be USD 6,899 million by 2030 growing at a CAGR of 17.20% during the forecast period.  The expansion of this technique can be attributed to its declining costs. Additionally, its adoption in agricultural biotechnology is on the rise, as it enables the comprehensive analysis of entire genomes in environmental samples without the necessity for cultivation. 

Enhanced sequencing methodologies offer several benefits compared to conventional techniques. The demand for these technologies in the life sciences market has increased due to their accurate results and shortened turnaround times. 

Additionally, the growing occurrence of communicable diseases, such as virus-induced diarrhea, influenza, hepatitis B, and, HIV/AIDS, and a surge in the count of genes being discovered are driving biotechnology businesses and academic establishments in order to conduct metagenome studies. 

In the recent years, on the basis of application, the drug discovery category held the major revenue share, above 26%, and the category is also projected to be in the leading spot throughout the forecast period. 

This is mainly because of the growing research activities in the biotechnical and pharmaceutical industries for new drug findings, commonly as part of associations among key market players and educational institutes. 

The shotgun method held the largest market share, and it is also projected to be on the leading spot during the projection period, credited to the benefits provided by this procedure over other methods and the rise in the count of genomic-based research activities led by research and academic institutes. 

In the past few years, North America dominated the market with the highest revenue share, of over 42%, and the continent is also projected to be in the leading spot in the future as well. 

This is mainly because of the significant R&D activities in the biotechnology and pharmaceutical industry, the high risk of illnesses in the continent, the presence of reputable healthcare companies, and strong backing for the setup of new research and development facilities in the continent. 

Moreover, the earlier acceptance of novel technologies here than in other regions and the increasing occurrence of chronic illnesses aid this growth. 

Additionally, the industry is growing in North America because of the increasing utilization of genomics in genetic research and diagnostics and the availability of high research subsidies and NGS data analysis tools. 

Europe is witnessing substantial development in the acceptance of this tech because of the existence of prominent research establishments and industry participants. Moreover, the growth of the partnerships between government establishments and the workers of sequencing solutions is accountable for the industry development.

 The industry is also thriving as a result of the obtainability of improved genomic sequencing technology. 

SOURCE: P&S Intelligence