LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global microbiome sequencing services market to grow at a CAGR of over 22% during the period 2018-2022, according to their latest report.
This market research report segments the global microbiome sequencing services market by end-users (pharmaceutical and biotechnology companies and academic institutes and research laboratories) and key geographies (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the rise in chronic and infectious diseases as a key factor contributing to the growth of the global microbiome sequencing services market:
Rise in chronic and infectious diseases
Over the years, the prevalence of chronic and infectious diseases such as malaria, tuberculosis, HIV AIDS, and hepatitis has increased rapidly. The analysis derived from microbiome sequencing helps to control the transmission of malarial parasites. It enables researchers to develop strains of genetically modified bacteria that can help to reduce the transmission of parasite. Thus, microbial community profiling is required to introduce immunotherapeutic strategies for new strains of microorganisms.
According to a senior analyst at Technavio for health and wellness research, “A substantial amount of research is going on for many chronic and infectious diseases such as cardiovascular diseases, cancers, and neurological disorders to discover ways for in-depth diagnosis and treatment. This will lead to an increase in demand for microbiome sequencing services during the forecast period.”
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Global microbiome sequencing services market segmentation
The pharmaceutical and biotechnology companies held the largest market share in 2017, accounting for over 42% of the market. However, the market share for this end-user is expected to decrease nearly 3% by 2022.
The Americas was the major revenue contributor to the global microbiome sequencing services market in 2017, accounting for over 46% market share. This was due to significant investments in healthcare research. EMEA was the second prominent region in the market in 2017, with Europe as the leading revenue contributor to the microbiome sequencing services market in EMEA. This was due to the high number of clinical diagnostic tests performed for various ailments and increased number of genomic projects.
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