Market revenue in 2023 | USD 2,028.1 million |
Market revenue in 2030 | USD 4,822.7 million |
Growth rate | 13.2% (CAGR from 2023 to 2030) |
Largest segment | Kits & reagents |
Fastest growing segment | Sequencing & Data Analytics Services |
Historical data covered | 2018 - 2022 |
Base year for estimation | 2023 |
Forecast period covered | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Kits & Reagents, Sequencing & Data Analytics Services, Software |
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The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to metagenomics market will help companies and investors design strategic landscapes.
Kits & reagents was the largest segment with a revenue share of 61.48% in 2023. Horizon Databook has segmented the Global metagenomics market based on kits & reagents, sequencing & data analytics services, software covering the revenue growth of each sub-segment from 2018 to 2030.
The global metagenomics market is surging as the outcome of advancement in technology have led to a substantial decline in the cost of genome sequencing over the past few years. For instance, Illumina introduced a sequencing system with higher throughput in 2010 for around USD 10,000. The innovation and technological advancement assisted the company to bring the cost to USD 600 in 2021. As a result, an increase in the number of metagenomics studies and their usage in clinical applications for sequence analysis has been reported.
Further developments in DNA technologies and bioinformatics that simplify RNA are expected to additionally reduce the cost of metagenomics along with enhancing the precision of analysis. Strategic initiatives undertaken by academic institutions and companies to advance innovative technologies are anticipated to support the upward market momentum of metagenomics. For instance, in September 2022, Illumina, Inc. announced to invest in six genomics startups from UK, South Africa, Ireland, Israel, Indonesia, and the U.S. As of September 2022, the company has invested in 74 genomics-based startups.
Horizon Databook provides a detailed overview of global-level data and insights on the Global metagenomics market , including forecasts for subscribers. This global databook contains high-level insights into Global metagenomics market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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