Market growth influenced due to following factors-
- Increasing adoption of spatial genomics and transcriptomics analysis among small companies and startups.
- Expanding applications in biomarker identification and drug discovery & development.
- Increasing investment in biopharmaceutical R&D.
Global market size-
According to the new market research report Spatial Genomics Market is projected to reach $404 million by 2025, at a CAGR of 17.8% during the forecast period.
Leading Players-
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 market to gain a competitive edge in the market.
Top Market Segments-
Among the techniques, spatial transcriptomics techniques segment is expected to grow at the highest CAGR during the forecast period. Growth in this market segmentis attributed to the increasing demand for and high adoption rate of in situ sequencing techniques.
Furthermore, spatial genomics analysis technique segment is further sub-segmented into into fluorescence in situ hybridization (FISH), sequencing techniques, and other spatial genomics analysis techniques. The increasing demand for new biomarkers for diagnosis and personalized medicine is a major factor boosting the demand for spatial genomics analysis as a cancer diagnostic tool.
Based on product, the global spatial genomics & transcriptomics market is categorized instruments, consumables, and software. In 2019, consumables accounted for the largest share in the global spatial genomics and transcriptomics market.
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Geographic Overview –
The Asia Pacific spatial genomics 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.
