Microbiome Sequencing Services Market By Technology, By Application, By Research Type, By Laboratory Type, By End User, & By Region (2018-2023)
HYDERABAD, TELANGANA, INDIA, November 30, 2018 /EINPresswire.com/ — Microbiome sequencing is the study of microbial groups located within the human body. The aim of human microbiome research is to properly understand the role of microbes in health and disease. Previously, scrutinizing samples from human skin, stool, or blood was reliant on time and labour-intensive microbiology techniques (on the rise and isolating individual organisms followed by phenotypic or genotypic analysis). However, the onset of next-generation sequencing (NGS) has facilitated numerous high-profile collaborative projects (Human Microbiome Project and MetaHIT). A broad range of data on the subject of human microbiome was published, employing NGS as a foundational tool.
The sequencing of metagenome offers a unique technique in identifying and treating a broad range of chronic ailments. Internationally, governments are investing a significant amount of money into microbiome sequencing projects. In 2007, the US National Institutes of Health financed USD 140 million to the Human Microbiome Project (a study of all the microorganisms in the human body). In 2008, the European Commission funded USD 30 million for Metagenomics of the Human Intestinal Tract project (MetaHIT).
The Global Microbiome Sequencing Services Market as per Market Data Forecast, Inc. report is predicted to reach USD 1,914.6 Million by 2023 with a CAGR of 21.5% from the current value of USD 722.9 Million.
The primary factor contributing to the growth of the microbiome sequencing services market development in the mounting utilization of microbiomes in genomics, proteomics, and metabolomics. New high-throughput sequencing and innovative software tools are transforming the field of microbiome study. Human microbiome sequencing services would be of great help in the commercialization of personalized medicine and diet.
However, lack of proper specialists in the interpretation of sequencing information is the key factor hampering the growth of the microbiome sequencing services market. Microbiome sequencing produces a gigantic amount of data, which needs to be deduced correctly. Lack of awareness and knowledge of advanced tools of data analysis is a huge problem and must be tackled effectively. Additionally, government regulations and ethical & legal issues connected to NGS are curbing the growth of the microbiome sequencing services market.
The full report provides a deep insight into the global market of microbiome sequencing services including its share, size, trends, analysis, and forecast along with the accurate information of its regional presence and competitive landscape. The global microbiome sequencing services market is divided on the basis of technology, application, research type, laboratory type, end user, and geographical regions.
Based on technology, the sequencing by synthesis segment is expected to account for the largest share of the market. It is an extensively employed NGS method, responsible for generating more than 75% of the sequencing data globally.
Based on the application, the RNA sequencing segment has been increasing rapidly with the highest CAGR due to major recent developments. The development of Oligo Library Synthesis kit for RNA libraries, permitting m-RNA targeted sequencing is anticipated to further drive the market growth in the near future.
Based on research type, the outsourced research segment is expected to grab a major portion of the market, whereas, under the “laboratory type” category, the wet labs’ segment is expected to lead the microbiome sequencing services market.
Under the end user category, pharmaceutical and biotechnology firms combinedly account for more than 50% of the overall market share. Numerous well-known pharmaceutical businesses are expanding their focus on microbiome R&D, thereby boosting the market revenue and growth.
Based on the geographical distribution, the international market is divided into the regions of North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America is presently leading the overall market, primarily due to factors, such as government backing through funds for genomics research, regular developments in sequencing technologies, and ease in accessibility of commercial product solutions for NGS data analysis. On the other hand, Asia-Pacific is anticipated to grow exceedingly during the forecast period. The steady development of the biotech industry in Southeast Asia is going to be a crucial growth prospect for the microbiome sequencing services market.
The global microbiome sequencing services market is in all probability going to stay divided in the coming few years due to the accessibility of several open doors in the market for players of all size. The major players in the global microbiome sequencing services market include Metabiomics Corp., Microbiome Therapeutics LLC, Microbiome Insights Inc., Rancho Biosciences, Zymo Research Corp., Molzym GmbH & Co., Ubiome Inc., Diversigen Inc., Merieux Nutrisciences Corporation, and Molecular Research LP.
Scope of the report:
• Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the untapped regions.
• Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
• Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
• A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
• An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Market Data Forecast is a firm working in market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. With a well-established in-house team of experts from diverse fields and outsource research network across 100+ countries, we are the sole research providers for most of Fortune 500 companies.
Sales Manager (International Business Development)
Market Data Forecast
Direct Line: +1-888-702-9626
Mobile: +91 998 555 0206
Market Data Forecast
email us here
Source: EIN Presswire