The North America Metagenomics market is expected to reach US$ 106.9 Mn in 2027 from US$ 55.2 Mn in 2018. The market is estimated to grow with a CAGR of 8.0% from 2018-2027. The growth of the market is driven by the factors such as increasing investments in the metagenomics and diverse applications of metagenomics, in the North America region. Whereas, high cost associated with metagenomics is likely to have a negative impact on the growth of the market in the coming years.
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, 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 need is pushing the venture capitals or academic medical centers to subsidize the prices for the metagenomics testing. They help to conduct researches to carry out testing in US$ 2000 - US$ 3000 per sample. Major market players such as Illumina based in California 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.
US is anticipated to lead the adoptions of Metagenomics across the North American region through the forecast period.The major players headquartered in the US are also focused towards developing innovative and novel products and bringing them into market, which is also one of the major factors driving the growth of US in the North America metagenomics market.
Moreover, the companies are significantly investing under research and development to come-up with medical products that are derived from natural microbial sources.For instance, in August 2018, Genentech and Lodo initiated a US$ 1 Bn project to develop unique, natural products from the microbial DNA found in soil.
Under the collaboration, Genentech will use Lodo’s metagenome-prospecting platform to identify novel small molecules with the potential for treating disease.
Exhibit: Mexico Metagenomics Market Revenue and Forecasts to 2027 (US$ Bn)
NORTH AMERICA METAGENOMICS - MARKET SEGMENTATION By Product Instruments & Software Consumables NORTH AMERICA METAGENOMICS - MARKET SEGMENTATION By Application Clinical Diagnostics Drug Discovery By Country U.S. Canada Mexico
Companies Mentioned Merck KGaA Thermo Fisher Scientific Inc. Agilent Technologies Qiagen Bio-Rad Laboratories, Inc. Perkinelmer Inc. Illumina Inc. F Hoffman-La Roche Ltd. Oxford Nanopore Technologies Ltd. Pacific Bioscience of California, Inc.
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