The global microbiome sequencing services market has a highly fragmented vendor landscape, says Transparency Market Research, in a recently published report. The market is categorized by the presence of several large and small players operating in it.
A key strategy deployed by players in the global microbiome sequencing services market to outshine their rivals involves focusing on human microbiome studies. The global microbiome sequencing services market is expected to grow steadily due to the existence of large players who are investing more in research and development. Some of the leading players in the global microbiome sequencing services market are Zymo Research, Microbiome Insights, Merieux Nutrisciences Corporation, Rancho Biosciences, and Ubiome.
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According to experts from Transparency Market Research, the global microbiome sequencing services market is expected to gain revenue worth US$684.1 mn by the end of 2024. Experts projects this growth to occur at a fantastic CAGR of 18.1% during the forecast period from 2017 to 2024.
Among the various end users in the market, rising pharmaceutical industry is expected to boost the global microbiome sequencing services market. This is because of their constant approaches on human microbiome studies in order to understand the role of microbes in health and diseases. Region wise, North America is expected to lead the market due to the growing demand in technological advancement in next-generation sequencing projects.
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Huge Investment in Microbiome Research to Boost Global Microbiome Sequencing Services Market
A microbiome is the novel collection of trillions of microorganisms in an individual’s body. Human microbiome analysis is the study of microbial colonies found in human body. Sequencing of microbiome helps in diagnosing and treating several diseases such as cancer. Human metagenome differs from person to person, thus increases the potentiality of various diagnostic procedures. So, the government is investing a large amount of funds in microbiome sequencing projects in order to invent some unique treatment or diagnostic procedure. Human microbiome projects help in examining all the microorganisms present in the human body.
Growing demand for social insurance services, rising interest in genomic research, and increasing life-science sectors are factors driving the global microbiome sequencing services market. Many government healthcare agencies contribute in the life-science research. Increasing awareness about understanding various microbial affects, rising microbiome sequencing in understanding human health, and growing cases of cancer are fueling the global microbiome sequencing services market.
Along with this, rising demand for genomic research, increasing surge in next-generation sequencing (NGS), and growing application area of microbiome sequencing are expected to propel the global microbiome sequencing services market.
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Lack of Skilled Technicians for NGS Data Analysis Hinders Market’s Growth
A few challenges hindering the growth of the global microbiome sequencing services market are lack of knowledge among scientists and physicians in advanced tools of data analysis, lack of technicians for interpreting sequencing data, increasing legal and ethical issues related to NGS, and government strict regulations. Nonetheless, increasing investments in research and development, and rising biotech and pharmaceutical industries are expected to help overcome some of these challenges in the near future.
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