Canada Metagenomics Market Size & Outlook, 2023-2030
Canada metagenomics market, 2018-2030 (US$M)
Related Markets
Canada metagenomics market highlights
- The Canada metagenomics market generated a revenue of USD 40.0 million in 2023 and is expected to reach USD 83.5 million by 2030.
- The Canada market is expected to grow at a CAGR of 11.1% 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 40.0 million |
| Market revenue in 2030 | USD 83.5 million |
| Growth rate | 11.1% (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, Canada accounted for 2.0% 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 North America, U.S. metagenomics market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 1,791.3 million by 2030.
Kits & reagents was the largest segment with a revenue share of 61.5% in 2023. Horizon Databook has segmented the Canada metagenomics market based on kits & reagents, sequencing & data analytics services, software covering the revenue growth of each sub-segment from 2018 to 2030.
The Canada metagenomics market is expected to register significant growth during the forecast period owing to ongoing initiatives for developments and advancements undertaken by institutions, such as Ontario University, to develop molecular & companion diagnostics using NGS. Moreover, Canadian researchers are employing genome sequencing to track various infectious diseases.
For instance, in December 2020, Genome sequencing was used by infectious disease researchers at McMaster University in Hamilton, Ontario, to detect COVID-19 variations. Such initiatives are expected to increase genome sequencing techniques, boosting NGS adoption in the country. In August 2023, Trace Genomics and Taurus Agricultural Marketing formed an international partnership.
In this multiyear collaboration, Taurus Ag will exclusively offer Trace soil diagnostics in Canada, providing comprehensive insights and actionable information on soil biology to retailers, consultants, agronomists, and growers for the first time in the Canadian market.
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Metagenomics Market Scope
Metagenomics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada metagenomics market size, by product, 2018-2030 (US$M)
Canada Metagenomics Market Outlook Share, 2023 & 2030 (US$M)
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