Microbiome Diagnostics Market is Expected to Reach $300 million

Chicago, March 13, 2024 (GLOBE NEWSWIRE) — Microbiome Diagnostics market in terms of revenue was estimated to be worth $146 million in 2023 and is poised to reach $300 million by 2028, growing at a CAGR of 15.5% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The microbiome diagnostics market is driven by a rise in the collaborative efforts between the microbiome industry and academia for microbiome research and the growing demand for personalized medicine.

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Microbiome Diagnostics Market Scope:

The incidence of chronic diseases across the globe has increased significantly. Microbiomes have major applications in the diagnosis of several chronic conditions, such as obesity and diabetes, and thus the prevalence of these conditions is expected to drive the demand for microbiome diagnostic products in the coming years. For instance, Globally, the number of patients suffering from diabetes is expected to grow from ∼537 million in 2021 to almost 783 million by 2045. (Source: International Diabetes Federation).

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Based on products, the microbiome diagnostics market is segmented into reagents & kits and instruments. Reagents & kits accounted for the largest share of the market in 2022. The large share of this product segment can primarily be attributed to repeat purchases and consumption of reagents & kits for diagnostic procedures as compared to the instruments, which have a longer shelf time and can be used for multiple procedures.

The microbiome diagnostics market is segmented based on technology into 16s rRNA sequencing, shotgun metagenomics, metatranscriptomics and other technologies. 16s rRNA accounted for the largest share of the microbiome diagnostics market in 2022. The high accuracy and affordability offered by 16S rRNA sequencing, and the growing number of microbiomic research activities to identify and classify various bacterial strains are driving the growth of the segment.

Based on samples, the microbiome diagnostics market is segmented into fecal, saliva, skin and other samples. In 2022, feces accounted for the largest share of the microbiome-based diagnostics market. This segment is also projected to register the highest CAGR during the forecast period, owing to the rising prevalence of disease and increasing microbiome research activities.
Based on applications, the microbiome diagnostics market is segmented into research applications, disease diagnostic applications. In 2022, the disease diagnostic application segment accounted for the largest share of the microbiome-based diagnostics market. The large share of this segment is due to the increasing prevalence of diseases, the increasing collaboration of industrial players and academic institutes to develop microbiome diagnostics.

Based on end users, the microbiome diagnostics market is segmented into hospitals, research institutes, pharmaceutical & biotechnology companies and other end users. Hospitals accounted for largest share of the microbiome diagnostics market in 2022. The significant share of the segment is primarily due to the rising prevalence of diseases.

The microbiome diagnostics market is segmented into four major regions: North America, Europe, the Asia Pacific, and Rest. The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, owing to the demand for better healthcare services, and the rising prevalence of chronic.

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Microbiome Diagnostics market major players covered in the report, such as:

• DNA Genotek (Canada)

• Invivo Healthcare (UK)

• Microba Life Sciences (US)

• Genetic Analysis AS (Norway)

• Metabiomics (US)

• Teraomics (US)

• Becton, Dickinson and Company (US)

• BioMe Oxford Ltd (UK)

• Viennalab…