Increasing investments by venture capitalists is expected to enhance the growth of metagenomics market from 2018 to 2027.
The global metagenomics market is expected to reach US$ 314.3 Mn in 2027 from US$ 165.8 in 2018. The growth of the market is driven by the factors such as increasing venture capital investments, advantages of metagenomics in biotechnology and industrial application of metagenomics likely to have a positive impact on the growth of the market in the coming years. Additionally, potential market in the emerging nations is expected to offer significant growth opportunities to the market players to capitalize and expand its customer base in Asian and Latin American regions.
Metagenomics is the upcoming field of the biotechnology and the extensive researches are being conducted in the labs across the world. Several clinical labs in United States, Europe and Asia have already undertaken the considerable lengths to upgrade and validate a wide range of protocols for agnostically detecting viral, bacterial, fungal, and eukaryotic parasite nucleic acid in different specimens of patient to benefit in diagnosis for particularly intractable cases.
The extensive research is pushing venture capital or academic medical centers to subsidize the prices for the metagenomics testing. The venture capitalists and academic medical centers subsidize the prices of metagenomics testing to gain their market share. They help to conduct researches to carry out testing in US$ 2000 – US$ 3000 per sample. Also, in recent years, next generation sequencing price have declined substantially. For instance, first whole human genome sequencing cost over US$3.7 billion in 2000 and took 13 years for the completion. However, the costs for the same in recent years has reduced to US$1,000 and the process requires less number of days. In 2000, cost for sequencing was US$ 3.7 billion, which dropped down to US$ 10 million in 2006 and declined to US$ 5,000 in 2012. Major market players such as Illumina have introduced breakthrough technologies that have enabled in the cost and time reduction in the sequencing. For instance, Illumina’s NovaSeq 6000 Sequencing System releases groundbreaking innovations. The system enables accessible throughput and flexibility for virtually any sequencing method, genome, and scale of project. Owing to factor that the cost of the metagenomics is been subsidize by the venture capitalists and the innovative technology by the market leaders that enables the access to the metagenomics studies are likely to propel the growth of the market in the forecast period.
The major players operating in the metagenomics market include Merck KGaA, Thermo Fisher Scientific Inc., Agilent Technologies, Qiagen, Bio-Rad Laboratories, Inc., Perkinelmer Inc., and Illumina Inc., F. Hoffman-La-Roche Ltd., Oxford Nanopore Technologies Ltd., Pacific Bioscience of California, Inc., among others.
