Microbiome Sequencing Market Is Predicted to Reach USD 34.17 Billion by 2031: Says Allied Market Research

Jason Junior

2 years ago

Portland, OR, Feb. 16, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global microbiome sequencing market was estimated at $859.42 million in 2021 and is expected to hit $3,417.09 million by 2031, registering a CAGR of 14.8 % from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

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Report coverage & details:

Forecast Period	2022–2031
Base Year	2021
Market Size in 2021	$859.42 Million
Market Size in 2031	$3,417.09 Million
CAGR	14.8%
No. of Pages in Report	245
Segments Covered	Technique, Research, End-User, and Region.
Drivers	Rise in investment in microbiome research
	Use of microbiome in diagnosis of diseases
	Increase in collaborations and partnerships for microbiome research
Restraint	Ethical and legal limitations
Opportunity	Wide applications of microbiome research

Impact of COVID-19 on Microbiome Sequencing Market-

Rise in microbiome research and sequencing to better understand how viruses affect human health and alert from future diseases, during the pandemic, had a moderately positive impact on the global microbiome sequencing market.
However, as the global situation has recovered, the market has now got back on track.

The global microbiome sequencing market is analyzed across technique, research, end-user, and region. The study utilizes tabular and graphical representation to provide a thorough study of the segments and their sub-segments. The segmentation can assist investors and market players, create strategies based on the top revenue-generating and fastest-growing segments identified in the research report.

By technique, the RNA sequencing segment was the highest revenue contributor in 2021, garnering around one-third of the global microbiome sequencing market revenue, and is projected to maintain its dominance by 2031. The shotgun sequencing segment would also showcase the fastest CAGR of 15.7% during the forecast period.

By research, the outsourced segment contributed to nearly three-fourth of the global microbiome sequencing market share in 2021, and is expected to register the fastest CAGR of 15% throughout the forecast period.

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By end-user, the academic institutes and research centers segment accounted for the largest share in 2021, generating nearly more than half of the global microbiome sequencing market revenue and would also register the fastest CAGR of 15.1% during the forecast period.

By region, North America held the major share in 2021, garnering more than half of the global microbiome sequencing market revenue. However, Asia-Pacific would showcase the fastest CAGR of 15.7% from 2022 to 2031.

The key market players analyzed in the global microbiome sequencing market report include Baseclear BV, Charles River Laboratories International, Inc., Clinical Microbiomics, CosmosID, Microbiome Insights, Molecular Research LP, Novogene Co., Ltd., OraSure Technologies (Diversigen), Resphera Biosciences Llc and Zymo Research Corporation. The key market players have adopted several strategies such as merger, investment, acquisition, product launch, collaboration, partnership and contract to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.

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