Global Metagenomics Market Size & Outlook, 2023-2030
Global metagenomics market, 2018-2030 (US$M)
Related Markets
Global metagenomics market highlights
- The global metagenomics market generated a revenue of USD 2,028.1 million in 2023 and is expected to reach USD 4,822.7 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 13.2% by 2030.
- In terms of segment, kits & reagents accounted for a revenue of USD 1,246.9 million in 2023.
- Sequencing & Data Analytics Services is the most lucrative product segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2023.
- Country-wise, Thailand is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 2,028.1 million |
| Market revenue in 2030 | USD 4,822.7 million |
| Growth rate | 13.2% (CAGR from 2023 to 2030) |
| Largest segment | Kits & reagents |
| Fastest growing segment | Sequencing & Data Analytics Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Kits & Reagents, Sequencing & Data Analytics Services, Software |
Other key industry trends
- In terms of revenue, the North America accounted for 40.3% of the global metagenomics market in 2023.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2030.
- By country, Thailand is the fastest growing regional market and is projected to reach USD 14.3 million by 2030.
Kits & reagents was the largest segment with a revenue share of 61.48% in 2023. Horizon Databook has segmented the Global metagenomics market based on kits & reagents, sequencing & data analytics services, software covering the revenue growth of each sub-segment from 2018 to 2030.
The global metagenomics market is surging as the outcome of advancement in technology have led to a substantial decline in the cost of genome sequencing over the past few years. For instance, Illumina introduced a sequencing system with higher throughput in 2010 for around USD 10,000.
The innovation and technological advancement assisted the company to bring the cost to USD 600 in 2021. As a result, an increase in the number of metagenomics studies and their usage in clinical applications for sequence analysis has been reported.
Further developments in DNA technologies and bioinformatics that simplify RNA are expected to additionally reduce the cost of metagenomics along with enhancing the precision of analysis. Strategic initiatives undertaken by academic institutions and companies to advance innovative technologies are anticipated to support the upward market momentum of metagenomics.
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Metagenomics Market Scope
Metagenomics Market Companies
| Name | Profile | # Employees | HQ | Website |
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Global metagenomics market size, by regions, 2018-2030 (US$M)
Top 10 countries: Metagenomics market size, 2023 (US$M)
Global metagenomics market share, by product, 2023 & 2030 (%, US$M)
Metagenomics market: Opportunity assessment by country
Global metagenomics market, by region, 2023 (US$M)
Related regional statistics
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