According to FMI’s recent market research, the global metagenomics market is expected to grow at a CAGR of 6.9% during the forecast period. In 2023, the valuation is expected to be US$ 202.9 million. The market value is expected to be US$ 394.2 million by 2033.
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A recent development, for example, saw the use of metagenomics in predicting the extent and presence of contamination in the environment, while another study outlined how metagenomics can be used to attenuate pollutants in the environment using unculturable microbes found in nature. Metagenomics is also being used to better understand the effects of biostimulation on microbial communities.
Governments all over the world are investing in research to improve the efficiency and scale of bioremediation in response to growing environmental concerns. Furthermore, because of its low-cost and environmentally friendly chemical treatment, bioremediation is gaining popularity. Because metagenomics is critical to the success of bioremediation, the market is expected to expand as the alternative chemical treatment process becomes more popular.
Clinical Diagnostics to Emerge as a Vital Revenue Pocket
In the near future, clinical diagnostics and bioremediation are expected to be the most profitable segments. As studies seek to broaden the scope of metagenomics’ application in the healthcare industry, the term metagenomic diagnostics is gradually gaining traction. Several studies, for example, have hinted at the development of a new diagnostic procedure known as “shotgun metagenomics,” which uses DNA sequencing to identify various pathogens and aid in the development of effective targeted treatment by predicting their resistance to various medications. Metagenomic diagnostics is an exciting prospect that could help with disease prediction and management in a variety of situations. Furthermore, metagenomics has the potential to reveal hidden genetic features that could be crucial in the advancement of a wide range of biotechnological applications, such as the discovery of novel enzymes, bioactive molecules, and genes with significantly improved or entirely new biochemical functions.
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Metagenomics Market Growth Underpinned by its Potential Application in Antibiotics Production
Metagenomics delves deeply into the taxonomic composition of microbe communities. It provides precise information about the gene characteristics that are specific to a given community. Metagenomic information can be used to effectively produce a variety of antibiotics. UC Berkley scientists recently conducted research in this area, concluding that using metagenomics for bioprospecting soil can aid in the development of a wide range of antibiotics. The researchers used metagenomics to identify the genes that produce antibiotics and antifungals in microorganisms to combat disease, and they concluded that the same chemicals could potentially aid in the treatment of bacterial and fungal infections in humans.
Library Preparation Kits find Growing Consumer Base as Gene Sequencing Gains Centerstage
DNA and RNA sequencing practises are gradually gaining traction due to their ability to provide a massive set of valuable data about gene sequences in a short period of time. The information gained from gene sequencing is then applied by clinicians, scientists, and researchers in industries such as agriculture, forensics, diagnostics, pharmaceuticals, and others. Library preparation kits enable the efficient and rapid extraction of gene segments for analysis. Furthermore, technological advances are assisting library kit manufacturers in producing better products that reduce error and stress while increasing accuracy. According to the FMI report, the factors will be critical in the growth of the segment, which is expected to contribute significantly to the metagenomics market growth.
Metagenomics Market Continues to Propel in North America, Upheld by Government Funding for Epigenetics R&D
According to the FMI study, the North American metagenomics market will continue to grow and will remain at the forefront of global metagenomics market growth. The presence of advanced infrastructure, as well as ongoing government funding for epigenetics research and development, are critical factors expected to drive the region’s market growth. Furthermore, favourable regulations encouraging research and development to improve healthcare quality in the region’s countries are expected to drive market growth.
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