India Metagenomics Market Size & Outlook, 2023-2030
India metagenomics market, 2018-2030 (US$M)
Related Markets
India metagenomics market highlights
- The India metagenomics market generated a revenue of USD 69.4 million in 2023 and is expected to reach USD 172.8 million by 2030.
- The India market is expected to grow at a CAGR of 13.9% 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 69.4 million |
| Market revenue in 2030 | USD 172.8 million |
| Growth rate | 13.9% (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, India accounted for 3.4% 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 61.38% in 2023. Horizon Databook has segmented the India 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 |
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India metagenomics market size, by product, 2018-2030 (US$M)
India Metagenomics Market Outlook Share, 2023 & 2030 (US$M)
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