According to a new report, published by KBV research, The Global Metagenomics Market size is expected to reach $3.2 billion by 2028, rising at a market growth of 13.6% CAGR during the forecast period.
The Sequencing segment acquired maximum revenue share in the Global Metagenomics Market by Workflow in 2021 thereby, achieving a market value of $1.8 billion by 2028. This is attributable to technological advancements that have made sequencing more cost-effective and precise. Regularly, businesses apply sequencing techniques in their genetic research, which is crucial to genetic testing.
The Sequencing & Data Analytics Services segment is showcasing a CAGR of 14.3% during (2022 - 2028). Sequence analysis is the process of using a variety of analytical techniques to a DNA, RNA, or peptide sequence to comprehend its characteristics, function, shape, or evolution. Among the employed methodologies are sequence alignment and searches against biological databases.
The Shotgun Sequencing segment is leading the Global Metagenomics Market by Technology in 2021 thereby, achieving a market value of $1.3 billion by 2028. Bioinformatics developments, DNA amplification enhancements, and the expansion of processing capacity have substantially facilitated the analysis of DNA sequences retrieved from environmental samples, enabling the applicability of shotgun sequencing to metagenomic materials.
The Drug Discovery segment has shown the growth rate of 13.9% during (2022 - 2028). It is possible to extract, purify, clone, and express metagenomic DNA in a heterologous host. Such function-based screens can facilitate the identification of new proteins, such as antibiotics. This strategy would also aid in addressing the issue of drug resistance. In addition, it would be useful in the realm of tailored medicine.
The North America market dominated the Global Metagenomics Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.5 billion by 2028.The Europe market is exhibiting a CAGR of 13.1% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 14.7% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/metagenomics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Bio-Rad Laboratories, Inc., Illumina, Inc., PerkinElmer, Inc., Thermo Fisher Scientific, Inc., Novogene Co., Ltd., Promega Corporation, Qiagen N.V., Takara Bio, Inc. (Takara Holdings Inc.), Oxford Expression Technologies Ltd., and F. Hoffmann-La Roche Ltd.
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