It is estimated that the global microbiome sequencing services market is expected to register a CAGR ~ 19.22% during the forecast period of 2018–2023, with an estimated market value of USD 555.1 million in 2017. For instance, according to the data published by the Wall Street Journal in 2016, reported that venture funding in microbiome firms raised by 458.5% to USD 114.5 million from 2011 to 2015.
Many factors such as high investment in next-generation sequencing, rising genome mapping programs in various countries, and the demand for microbiome research is anticipated to fuel the growth of the market. Moreover, the increasing investments in next-generation sequencing by various public and private organizations have created a lucrative option for many companies to invest in providing microbiome sequencing services, leading to the overall growth of the market.
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Some of the key players in the global microbiome sequencing services market are Microbiome Insights Inc., Microbiome Therapeutics, LLC. MR DNA, Rancho Biosciences, Second Genome, Ubiome, Inc., and Zymo Research Corp.
However, the lack of skilled technicians, and ethical and legal issues related to genome sequencing, and unaffordability of microbiome sequencing services in certain economies is expected to curb the growth of microbiome sequencing services market.
The global microbiome sequencing services market is currently dominated by many market players. The key players in the market are involved in new product launches and strategic collaborations to strengthen its market position. For instance, in November 2017, Microbiome Therapeutics, LLC launched the first microbiome modulator. This product is a natural blend of prebiotics manufactured to help nurture and nourish beneficial microorganisms in the lower gut. Also, in January 2018, Illumina launched BaseSpace Sequence in China. It is a cloud-based solution used for genomic data storage and analysis of samples.
The market in the Americas is expected to dominate the global microbiome sequencing services market during the forecast period owing to the increasing per capita healthcare expenditure, and the heavy adoption of new technology in the region. Europe is expected to hold the second largest position in the global microbiome sequencing services market. The market growth in this region is because of the presence of a well-established healthcare system and increase in life-threatening diseases.
For instance, according to cancer research UK, there were approximately 9, 921 cases of cancer diagnosed in 2015. Such high rates of cancer are likely to increase demand for use of next-generation sequencing as well as increase the market demands for monoclonal bodies and cellular research.
These factors are expected to have a positive impact on the microbiome sequencing services market. Asia-Pacific is estimated to be the fastest growing region in the market due to the huge patient pool of chronic diseases and government initiatives of healthcare reforms. The market in the Middle East & Africa is likely to account for the smallest share of the global microbiome sequencing services market. The market growth in this region owes to the low disposable income in the region.
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The global microbiome sequencing services market has been segmented into technology, application, and end user. The market, based on technology, has been segmented into Sequencing by Litigation (SBL), Sequencing by Synthesis (SBS), short gun sequencing, targeted gene sequencing, RNA sequencing, and others. The market, by application, has been further segmented into gastrointestinal diseases, infectious diseases, CNS diseases, oncology, and others. The market, by end user, has been segmented into research and academic institutes, pharmaceutical and biotechnology companies, and others.
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