North America Metagenomics Market 2019-2027

MARKET OUTLOOK

The publisher has concluded in a report that the North America metagenomics market would show revenue growth at a CAGR of 15.02% in the projected years between 2019 and 2027. Canada and the United States together comprise the metagenomics market in the North America region.
It is estimated that the United States accounts for nearly 6% of all the malignancies that occur every year. According to Cancer.net, in 2019, there were an estimated 65,410 people in the country that developed head and neck cancer. Though young people are also at the risk of developing these diseases, it is generally those over 50 years of age that are diagnosed with the conditions. The large pool of cancer patients is thereby fueling the growth of the country’s metagenomics market.

In addition, there is a rising prevalence of cardiovascular and neuro diseases in the US. Metagenomics is used to study the changes in gene expression, which aids in the diagnosis of cancer as well as neurodegenerative and cardiovascular issues. Other factors, such as the rise in funding for research and development in healthcare and the rise of epigenetic applications in non-oncological diseases, are driving the growth of the US’ metagenomics market. The common fund-supported programs in the country are expected to bolster metagenomics research, covering a diverse range of diseases.

COMPETITIVE OUTLOOK

The prominent companies in the metagenomics market include Illumina, Inc., PerkinElmer, Inc., Oxford Nanopore Technologies Ltd., Pacific Biosciences Of California Inc., Bio-Rad Laboratories, Inc., Thermo Fisher Scientific, Inc., Swift Biosciences, Inc., and F. Hoffmann-La Roche Ltd.