Australia Metagenomics Market Size & Outlook, 2024-2030
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Australia metagenomics market highlights
- The Australia metagenomics market generated a revenue of USD 35.6 million in 2023 and is expected to reach USD 87.9 million by 2030.
- The Australia market is expected to grow at a CAGR of 13.8% from 2024 to 2030.
- In terms of segment, kits & reagents was the largest revenue generating product in 2023.
- Sequencing & Data Analytics Services is the most lucrative product segment registering the fastest growth during the forecast period.
Metagenomics market data book summary
| Market revenue in 2023 | USD 35.6 million |
| Market revenue in 2030 | USD 87.9 million |
| Growth rate | 13.8% (CAGR from 2023 to 2030) |
| Largest segment | Kits & reagents |
| Fastest growing segment | Sequencing & Data Analytics Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Kits & Reagents, Sequencing & Data Analytics Services, Software |
| Key market players worldwide | Bio-Rad Laboratories Inc, Illumina Inc, PerkinElmer, Thermo Fisher Scientific Inc, Novogene, Promega, Qiagen NV, Takara Bio Inc, Oxford Nanopore Technologies PLC, Roche Holding AG |
Other key industry trends
- In terms of revenue, Australia accounted for 1.8% of the global metagenomics market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China metagenomics market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 244.2 million by 2030.
Kits & reagents was the largest segment with a revenue share of 61.52% in 2023. Horizon Databook has segmented the Australia metagenomics market based on kits & reagents, sequencing & data analytics services, software covering the revenue growth of each sub-segment from 2018 to 2030.
The presence of well-established healthcare infrastructure & research facilities, favorable reimbursement policies, and availability of world-class researchers are anticipated to be major factors boosting the market in Australia.
In addition, growing public-private partnerships and collaborations in the field of NGS are expected to fuel the growth of Australia metagenomics market. In December 2020, the Victorian government partnered with Illumina & the University of Melbourne to obtain USD 60 million in funding and establish the Illumina–University of Melbourne Genomics Hub.
In September 2020, Australia-based Communicable Disease Genomics Network and U.S.- based Illumina collaborated to trace COVID-19 using the latter’s next-generation genomic sequencing technology. Furthermore, the high prevalence of chronic & infectious diseases, such as cancer & HIV, is propelling the demand for efficient NGS solutions in the country for diagnostic purposes.
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Metagenomics Market Scope
Metagenomics Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Oxford Nanopore Technologies PLC | View profile | 1133 | Edmund Halley Road, Gosling Building, Oxford Science Park, Oxford, Oxfordshire, United Kingdom, OX4 4DQ | https://www.nanoporetech.com |
| Promega | View profile | 5001-10000 | Madison, Wisconsin, United States, North America | http://www.promega.com/es |
| Novogene | View profile | 501-1000 | Beijing, Beijing, China, Asia | https://en.novogene.com/ |
| PerkinElmer | View profile | 10001+ | Waltham, Massachusetts, United States, North America | http://www.perkinelmer.com |
| Takara Bio Inc | View profile | 1793 | Nojihigashi 7-4-38 Kusatu, Shiga, Otsu, Japan, 520-0058 | http://www.takara-bio.co.jp |
| Qiagen NV | View profile | 5900 | Hulsterweg 82, Venlo, LI, Netherlands, 5912 PL | https://www.qiagen.com |
| Bio-Rad Laboratories Inc | View profile | 8030 | 1000 Alfred Nobel Drive, Hercules, CA, United States, 94547 | https://www.bio-rad.com |
| Illumina Inc | View profile | 9300 | 5200 Illumina Way, San Diego, CA, United States, 92122 | https://www.illumina.com |
| Roche Holding AG | View profile | 103605 | Grenzacherstrasse 124, Basel, Switzerland, 4070 | https://www.roche.com |
| Thermo Fisher Scientific Inc | View profile | 122000 | 168 Third Avenue, Waltham, MA, United States, 02451 | https://www.thermofisher.com |
Australia metagenomics market size, by product, 2018-2030 (US$M)
Australia Metagenomics Market Outlook Share, 2023 & 2030 (US$M)
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