Illumina, Inc. (US) and Thermo Fisher Scientific (US) are Leading Players in the Metagenomic Sequencing Market
The global metagenomic sequencing market is projected to reach USD 4.5 billion in 2028 from USD 2.0 billion in 2023, growing at a CAGR of 17.5%. The key factors driving the growth of the global metagenomic sequencing market are the technological innovations in NGS platforms conducted frequenctly, increasing supporting initiatives and funding from government & private bodies for large-scale sequencing projects among others. However, constraints in the funds available for metagenomic sequencing activities in developing countries is expected to retrain the market growth to certain extent.
The market for metagenomic sequencing is consolidated, with key players strategizing to capture majority of the market. Prominent players in the market are Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), PerkinElmer, Inc. (US), QIAGEN N.V. (Netherlands), Oxford Nanopore Technologies, Plc. (UK), and Pacific Biosciences of California, Inc. (US).
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Illumina, Inc.
Illumina is the leading player in the metagenomic sequencing market, accounting for the largest share of the market in 2022. Illumina is also a leading provider of sequencing and array-based solutions for genetic research. The company's products and services used around the world in life science research, translational and consumer genomics, and molecular diagnostics.
The company's strength in this market is due to its broad product portfolio, which includes a wide range of sequencing platforms, consumables, and software. Illumina also has a strong track record of innovation, which has allowed the company to stay ahead of the competition.
Thermo Fisher Scientific Inc.
Thermo Fisher Scientific held the second position in the metagenomic sequencing market in 2022. Thermo Fisher has broad portfolio of products and services that address the needs of researchers across a variety of industries. The company's products include sequencing instruments, consumables, software, and workflow solutions, as well as expertise in sample preparation and data analysis. Thermo Fisher Scientific's metagenomic sequencing solutions are used in a wide range of applications, including environmental monitoring, clinical diagnostics, and food safety.
The company's market leadership is due to a number of factors, including its strong product portfolio, its global reach, and its commitment to innovation. Thermo Fisher Scientific is constantly developing new products and services to meet the evolving needs of its customers. The company also invests heavily in research and development, which helps to ensure that its products are at the forefront of technology. is expected to continue to have a strong market position owing to its robust platforms and consumables offerings. The company has also updated strategies such as collaborations, partnerships, and product launches to strengthen their position in the global market. For instance, in September 2021, it codeveloped NGS-based companion diagnostics with AstraZeneca.
Related Reports:
Metagenomic Sequencing Market by Product & Services(Reagent, Consumables, Instrument), Workflow (Sample Preparation, Sequencing), Technology(16S rRNA, Shotgun, Whole-genome), Application (Drug Discovery, Diagnostic, Industrial) - Global Forecast to 2028
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