DUBLIN–(BUSINESS WIRE)–The “Spatial Genomics & Transcriptomics Market by Technique (Spatial Transcriptomics, Spatial Genomics), Product (Instruments, Consumables, Software), Application (Drug Discovery), End User (Academic Institute, Research Institutes, CROs) – Global Forecast to 2025” report has been added to ResearchAndMarkets.com’s offering.
The global 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.
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.
By application, the translational research accounted for the largest share of the spatial genomics & transcriptomics market
Based on application, the spatial genomics and transcriptomics market is categorized into translational research and drug discovery & development. The translation research segment dominated the market in 2019, owing to increased investments by researchers in biomarker identification using spatial genomics and transcriptomics techniques.
Asia Pacific: The fastest-growing region in the spatial genomics & transcriptomics market.
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, mainly due to the growing biopharmaceutical industry, increasing life science research, rising investments by pharmaceutical and biotechnology companies, and the growing number of CROs and CMOs in several APAC countries contribute to its growth.
North America: the largest share of the spatial genomics & transcriptomics market
North America accounted for the largest share of the spatial genomics & transcriptomics market. Factors such as the to the presence of an established biopharmaceutical industry and the presence of major players operating in the spatial genomics & transcriptomics market in the region are the major factors driving the market growth. (Read more…)
Market Dynamics
Drivers
- Increasing Adoption of Spatial Genomics & Transcriptomics in Drug Discovery & Development
- Introduction of Novel Products
- Increasing R&D Investments and Public-Private Funding
Restraints
- High Capital Investments
Opportunities
- Increasing Use of Spatial Omics for Biomarker Identification
Challenges
- Dearth of Skilled Professionals
Companies Mentioned
- 10X Genomics, Inc.
- Akoya Biosciences, Inc.
- Bio-Rad Laboratories, Inc.
- Bio-Techne
- Biospyder, Inc.
- Cytiva
- Dovetail Genomics
- Fluidigm Corporation
- Genomic Vision
- Illumina Inc.
- Miltenyi Biotec
- Nanostring Technologies, Inc.
- Optical Biosystems, Inc.
- Rarecyte, Inc.
- Readcoor, Inc.
- S2 Genomics, Inc.
- Seven Bridges Genomics
- Ultivue, Inc.
- Vizgen Corp.
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