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(Health-NewsWire.Net, April 22, 2021 ) According to the new market research report Spatial Genomics and Transcriptomics Market is projected to reach USD 404 million by 2025 from USD 178 million in 2020, at a CAGR of 17.8% during the forecast period.
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The market growth is largely driven by the increasing adoption of spatial genomics and transcriptomics analysis among small companies and startups, expanding applications in biomarker identification and drug discovery & development, and increasing investment in biopharmaceutical R&D.
The Asia Pacific market is expected to witness the highest growth during the forecast period, primarily due to the growing biopharmaceutical industry, increasing life science research, rising investments by public and private funders, and the growing number of CROs and CMOs in several APAC countries.
Based on end users, the spatial genomics market is segmented into into academic & research institutes, contract research organizations (CROs), and pharmaceutical & biotechnology companies. In 2019, the academic & research institutes segment accounted for the largest share of the spatial genomics and transcriptomics market. Market growth can largely be attributed to the increase in research intensity in this end-user segment and the availability of sufficient grants and funds for research.
Based on the technique, the spatial genomics and transcriptomics market is segmented into spatial transcriptomics techniques and spatial genomics analysis techniques. In 2019, the spatial transcriptomics techniques segment accounted for the largest share of the global spatial genomics market. Growth in this market segment can be attributed to the increasing demand for and high adoption rate of in situ sequencing techniques.
Study Coverage:
The scope of the report covers detailed information regarding the major factors, such as drivers, challenges, and opportunities, influencing the growth of the spatial genomics market. A detailed analysis of the key industry players has been done to provide insights into their business overviews; solutions and services; key strategies, and recent developments associated with the spatial genomics and transcriptomics market.
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10X Genomics (US), NanoString Technologies Inc. (US), Illumina Inc. (US), and Bio-Rad Laboratories (US) are the prominent players operating in the transcriptomics market. Product launches, collaborations, agreements, expansions, and acquisitions are the key growth strategies adopted by a majority of the leading players in the spatial genomics market to gain a competitive edge in the market.
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MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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