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(Health-NewsWire.Net, October 23, 2021 ) According to the new market research report the spatial genomics 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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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. On the other hand, lack of awareness about these techniques in the emerging countries and the high cost of instruments are some factors limiting the market growth.
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 transcriptomics market. Growth in this market segment can be attributed to the increasing demand for and high adoption rate of in situ sequencing techniques.
Based on end-users, the spatial genomics market is segmented 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 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.
The prominent players operating in the spatial genomics & transcriptomics market are 10X Genomics (US), NanoString Technologies Inc. (US), Illumina Inc. (US), and Bio-Rad Laboratories (US).
NanoString Technologies Inc., held a dominant share in the global spatial genomics and transcriptomics market. The company is engaged in the development, manufacturing, and commercialization of instruments, consumables, and services for profiling the activity of genes and proteins simultaneously from a single tissue sample. In 2019, the company launched the GeoMx Digital Spatial Profiler, enabling highly multiplexed spatial profiling of RNA and protein targets in various sample types, including FFPE tissue sections. The company held a substantial market share in 2019 due to its brand presence and product offerings in the spatial genomics and transcriptomics market.
10X genomics held the second-largest position in the spatial genomics and transcriptomics market in 2019. The company focuses on strengthening its market position by adopting organic and inorganic strategies, such as product launches and mergers & acquisitions. The company offers the Visium Spatial platform and consumables such as Visium Spatial Gene Expression assays and Visium mRNA arrays to measure spatial gene expression patterns using high-density DNA barcode sequencing arrays. The company acquired Spatial Transcriptomics (Sweden) in 2018 and entered the spatial genomics and transcriptomics market.
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In 2019, North America held the largest share of 55.6% of the global market, followed by Europe. The large share of the North American regional segment can be attributed to the presence of well-established as well as emerging market players operating in the spatial genomics and transcriptomics market in this region.
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Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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