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(Health-NewsWire.Net, April 16, 2020 ) The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.
At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Metagenomic Sequencing Market. We are working diligently to help companies take rapid decisions by studying:
+ The impact of COVID-19 on the Metagenomic Sequencing Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
+ The rapid shifts in the strategies of the Top 50 companies in the Metagenomic Sequencing Market
+ The shifting short-term priorities of the top 50 companies’ clients and their client's clients
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According to the new market research report “Metagenomic Sequencing Market by Workflow (Sample Preparation, Data Analysis), Product & Services (Reagents, Consumables, Instruments), Technology (Shotgun, 16s Rrna, Whole-Genome), Application (Diagnostic, Soil Microbiome) – Global Forecast to 2024″, published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities in North America, Europe, Asia-Pacific, and the Rest of the world (RoW).
Metagenomic Sequencing Market is projected to reach USD 2.3 billion by 2024 from USD 1.0 billion in 2019 at a CAGR of 17.0%.
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The growth of this market is driven by factors such as the significant applications of metagenomics in various fields, the various initiatives and funding from government & private bodies for large-scale sequencing projects, and the declining cost of sequencing. The availability of cloud computing for data management is another factor providing market players with growth opportunities.
Reagents & consumables accounted for the largest share of the Metagenomic Sequencing Market, in 2018.
On the basis of products & services, the Metagenomic Sequencing Market is segmented into reagents & consumables, instruments, services, and analysis & data interpretation solutions. Of all these segments, reagents & consumables accounted for the largest share of the market in 2018. Factors such as the development and commercialization of high-quality reagents and kits and the continuous requirement of sequencing reagents by end users are expected to drive the growth of the reagents & consumables market in the coming years.
The sample processing & library preparation segment accounted for the largest share of the Metagenomic Sequencing Market in 2018.
Based on workflow, the market has been segmented into sample processing & library preparation, sequencing, and data processing & analysis. Sample processing & library preparation accounted for the largest share of the Metagenomic Sequencing Market in 2018. The large share of this segment can be attributed to the growing number of metagenome sequencing research projects being conducted, the availability of technically advanced and robust sample processing and library preparation assay kits, and the demand for efficient library preparation products.
Browse in-depth TOC on “Metagenomic Sequencing Market”
60 – Tables
30 – Figures
149 – Pages
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The shotgun metagenomic sequencing technology is expected to witness the highest growth rate in the Metagenomic Sequencing Market during the forecast period.
On the basis of technology, the Metagenomic Sequencing Market is segmented into shotgun metagenomic sequencing, 16S rRNA sequencing, metatranscriptomics, and whole-genome sequencing & de-novo assembly. The shotgun metagenomic sequencing technology is expected to witness the highest growth rate in the Metagenomic Sequencing Market during the forecast period. This can be attributed to the advantages offered by shotgun sequencing over other techniques, growing adoption of shotgun metagenomic sequencing among researchers and healthcare professionals, and the increasing number of metagenomic sequencing-based research activities.
The drug discovery segment accounted for the largest share of the Metagenomic Sequencing Market in 2018.
Based on applications, the market is segmented into drug discovery, clinical diagnostics, soil microbiome applications, industrial applications, ecological and environmental applications, veterinary applications, and other applications. The drug discovery segment accounted for the largest share of the Metagenomic Sequencing Market in 2018. Growth in this market segment is mainly due to the increasing research activities for novel drug discovery, growing collaborations between market players, academic institutions, and pharmaceutical companies for drug development, and growing use of metagenomic NGS in clinical trials.
The Asia Pacific region is projected to grow at the highest CAGR during the forecast period.
On the basis of region, the market has been classified into-North America, Europe, the Asia Pacific, and the RoW. The Asia Pacific regional segment, on the other hand, is expected to grow at the highest CAGR of 18.3% during the forecast period. Growth in this market segment is mainly due to a significant focus on R&D activities as a means of broadening the scope of metagenomics applications, increasing adoption of metagenomics for diagnostics (due to the decreasing cost of metagenomics products and services), and technological developments in metagenomics genomic data analysis as well as interpretation.
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Leading Companies
The major players operating in the global Metagenomic Sequencing Market are Illumina, Inc. (US), Thermo Fisher Scientific, Inc (US), QIAGEN N.V. (Netherlands), PerkinElmer (US), Oxford Nanopore Technologies Ltd (UK), BGI Group (China), Macrogen Inc. (South Korea), GENEWIZ (US), Eurofins Scientific (Luxembourg), Novogene Corporation (China), Zymo Research Corporation (US), NuGEN Technologies, Inc (US), IntegraGen SA (France), Microsynth AG (Switzerland), and DNAStar, Inc (US).
MarketsandMarkets™
Mr. Sanjay Gupta
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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