The global microbiome sequencing services market is likely to exhibit steady growth in the coming years due to the growing support to genomics research. Microbiome sequencing refers to techniques that analyze the presence of microbes in a given sample to provide data regarding which are the most abundant. This has emerged as a vital tool in the healthcare sector, as it allows researchers to study the interaction between various organisms and microorganisms in greater detail. The importance of gut flora in humans means the development of the microbiome sequencing services market is intimately connected to human healthcare, as studying the human microbiome will help healthcare agencies better understand several conditions that are related to the presence of harmful and beneficial bacteria. Growth of the healthcare sector has thus helped the global microbiome sequencing services market considerably over the last few years and is likely to remain a major driver for the market in the near future.
According to Transparency Market Research, the global microbiome sequencing services market is likely to exhibit a robust 18.1% CAGR over the 2017-2022 forecast period. The market was valued at US$684.1 mn in 2017 and is expected to rise to a valuation of US$1,570.4 mn by 2022.
Here are the key insights into the global microbiome sequencing services market:
The growing support to genomics research is a key driver for the global microbiome sequencing services market, as it has helped players in the market attain better tools to conduct more comprehensive research. Genomics has become an important tool in the life sciences and healthcare sector in recent years due to rising awareness about its immense utility in improving healthcare services across the board. As a result, private as well as government agencies have solidly backed the life sciences sector in recent years, which is likely to remain a major driver for the global microbiome sequencing services market in the coming years.
The steady growth of the biotech sector in emerging regions such as Southeast Asia and Japan is likely to be a key driver for the global microbiome sequencing services market in the coming years. The high potential of the sector to improve the indigenous healthcare sector and the rising need for outsourcing services in the life sciences sector in developed countries has led to rapid demand from the life sciences sector in countries such as China, Korea, and India. This is likely to propel the microbiome sequencing services market at a rapid rate in the coming years, as a rising number of economies in this region are attempting to advance their indigenous healthcare sectors in order to provide for their growing populations. The APEJ microbiome sequencing services is thus likely to exhibit a robust 19.1% CAGR over the 2017-2022 forecast period to rise to a valuation of US$245 mn.
Japan is also likely to remain a key contributor to the global microbiome sequencing services market over the coming years due to the rising use of genomics in the healthcare sector in the region and the consistent support for innovations in the same. The Japan microbiome sequencing services market is expected to take up an 8.7% revenue share in the global market by the end of 2017, though its global market share is likely to drop slightly over the coming years.
North America is likely to remain the leading geographical segment of the global microbiome sequencing services market in the coming years, due primarily to the strong presence of several leading biotech players in the region and the solid government support to advancement of the life sciences sector. The North America microbiome sequencing services market is likely to rise from US$261.4 mn to US$619.1 mn over the 2017-2022 forecast period, exhibiting a strong 18.8% CAGR.
Leading players in the global microbiome sequencing services market include Metabiomics Corp., Microbiome Therapeutics LLC, Microbiome Insights Inc., Rancho Biosciences, Zymo Research Corp., Molzym GmbH & Co. KG, Ubiome Inc., Diversigen Inc., Merieux Nutrisciences Corporation, and Molecular Research LP.
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