Microbiome Sequencing Services Industry Analysis, Share Analysis and Global Forfecast to 2023

Market Highlights:

It is estimated that the global microbiome sequencing services market is expected to register a CAGR 19.22% during the forecast period of 2018–2023, with an estimated market value of USD 555.1 million in 2017.

The global Microbiome Sequencing Services Market Industry is currently dominated by many market players. The key players in the market are involved in new product launches and strategic collaborations to strengthen its market position. For instance, in November 2017, Microbiome Therapeutics, LLC launched the first microbiome modulator. This product is a natural blend of prebiotics manufactured to help nurture and nourish beneficial microorganisms in the lower gut. Also, in January 2018, Illumina launched BaseSpace Sequence in China. It is a cloud-based solution used for genomic data storage and analysis of samples.

Numerous factors such as high investment in next-generation sequencing, rising genome mapping programs in various countries, and the demand for microbiome research is anticipated to fuel the growth of the market. Moreover, the increasing investments in next-generation sequencing by various public and private organizations have created a lucrative option for many companies to invest in providing microbiome sequencing services, leading to the overall growth of the market. For instance, according to the data published by the Wall Street Journal in 2016, reported that venture funding in microbiome firms raised by 458.5% to USD 114.5 million from 2011 to 2015.