The growth of the Microbiome Sequencing Services Market is propelled by the increase in use of microbiomes in genomics, proteomics, and metabolomics and technological advancements in next-generation sequencing (NGS). On the other hand, lack of detailed research, government regulations, and ethical & legal issues related to NGS are the major factors restraining the growth of market.
The global microbiome sequencing services market is poised to reach USD 1,424.7 Million by 2021 from USD 538.0 Million in 2016, at a CAGR of 21.5% from 2016 to 2021.The market by application is broadly classified into shotgun sequencing, targeted gene sequencing, RNA sequencing, whole genome sequencing, and other applications (such as small molecule analysis and protein analysis). The shotgun sequencing segment is estimated to grow at the highest CAGR and the highest share of the market during the forecast period.
North America is expected to have the highest CAGR in the global microbiome sequencing services in 2016. Factors such as favorable business environment, government support through funds for genomics research, continuous developments in sequencing technologies, availability of commercial solutions for NGS data analysis, growing number of research studies on cancer & inherited rare diseases drive the growth of the market in this region.
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