Metagenomics Market Size, Trends and Growth Analysis by 2027

The global metagenomics market is projected to grow significantly, reaching approximately US$ 314.3 million by 2027, up from US$ 165.8 million in 2018. This growth represents a compound annual growth rate (CAGR) of 7.7% over the period from 2018 to 2027.

Several factors are driving this growth, including increased venture capital investments and the advantages that metagenomics offers in biotechnology and various industrial applications. Additionally, the trend towards utilizing a wide array of molecular-based techniques is expected to positively influence market expansion in the upcoming years. However, the high initial capital investment required for metagenomics may pose a challenge to market growth. Extensive research is currently underway to explore microbial studies, focusing on the genetic composition of microorganisms. The diversity of genes found in microbial samples collected from environmental sources contributes significantly to this research.

Research in this field has led to the discovery of new antibiotics and is anticipated to further aid in drug discovery in the future. The current trend towards molecular-based methodologies has allowed metagenomics to investigate uncultured microorganisms effectively. Furthermore, metagenomics has made substantial contributions to clinical diagnostics, which is a prominent trend globally. Ongoing extensive research is also being conducted in environmental sectors. The potential of metagenomics extends to discovering innovative products in biotechnology, agricultural biotechnology, food technology, and other related fields.

The pharmaceutical potential of metagenomics presents significant growth opportunities for market participants. Innovative advancements from these players are expected to yield solutions for chronic infectious diseases. Although the initial setup costs for metagenomics can be quite high, technological advancements and the efforts of leading companies such as Illumina Inc. and Pacific Biosciences of California Inc. are likely to address these challenges. These companies are actively working to develop cost-effective solutions for metagenomic studies, which is expected to yield positive results for the healthcare industry in the near future.

The global metagenomics market is categorized by application into clinical diagnostics, drug discovery, and other applications. The clinical diagnostics segment is projected to grow at a CAGR of 7.2% during the forecast period. Metagenomics holds immense potential for identifying uncultured microorganisms, which can be instrumental in detecting and diagnosing infectious diseases as well as understanding the genetic characteristics of these microorganisms. Consequently, this segment accounted for the largest market share of 47.9% within the metagenomics market and is expected to maintain its dominance in the forecast period.

The report on the metagenomics market includes a variety of primary and secondary sources, such as the Brazilian Microbiome Project, the Centers for Disease Control and Prevention (CDC) in Canada, the Canadian Institutes of Health Research Institute of Infection and Immunity, the Council of Scientific & Industrial Research, the Department of Biotechnology, the International Center for Biosaline Agriculture, the Janssen Human Microbiome Institute, the Joint Genome Institute, among others.