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 global market is broadly segmented by technology, application, research type, laboratory type, end user, and region. On the basis of technology, the market is divided into sequencing by synthesis (SBS), sequencing by ligation (SBL), pyrosequencing, sanger sequencing, and other technologies (such as Omic technologies). The sequencing by synthesis segment is expected to grow at the highest CAGR of the market in 2016.
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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The growth of this 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.
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