Metagenomics Market Analysis and Scope (2019 to 2027)
Metagenomics Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2018 | US$ 165.8 Million |
| Market Size by 2027 | US$ 314.3 Million |
| Global CAGR (2018 - 2027) | 7.7% |
| Historical Data | 2016-2017 |
| Forecast period | 2019-2027 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Covid-19 Impact:
Across the various healthcare sectors, the effect of a pandemic could be felt, which resulted in various changes in the health care industry. Scientists across the globe are collaborating to generate and distribute genomic sequence data information which could be applied to disease diagnosis and control efforts. The US is increasing its ability to track coronavirus mutations with genomic sequencing techniques as reserchers warned that new variants increase the number of cases and hospitalizations. For instance, the US ranked 43rd in genome sequencing project by sequencing 3% of the sample, according to the GISAID Initiative, a global genome sequencing database project. The sequencing of the genome can help in the fight against Covid-19 and its newly emerging variants.
Moreover, in April 2020, genome Canada launched CanCOGeN, the Canadian COVID Genomics Network, an initiative backed with USD 40 million funding. The role of CanCOGeN is to establish a coordinated pan-Canadian, cross-agency network for large-scale SARS-CoV-2 and human host sequencing in order to track viral origin, spread and evolution, to characterize the role of human genetics in COVID-19 disease and to inform time-sensitive critical decision making relevant to health authorities across Canada during the pandemic. All such developments will add to the future demand for the metagenomics market.
Competitive Landscape and Key Companies:
Some of the prominent players operating in the global metagenomics market include Merck KGaA, Thermos Fisher Scientific Inc., Qiagen, Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Perkin Elmer, Inc., Illumina Inc. and F. Hoffmann-La Roche Ltd. among others. These companies have been implementing various inorganic developments that have bought about dynamic improvements in the metagenomics market due to the involvement of major players which has led to availability of better services and products in the market. Thus, allowing them to serve a large set of customers and subsequently increase their market share.
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