Pune, India, June 29, 2022 (GLOBE NEWSWIRE) -- The global plant genomics market size is set to gain traction owing to the increasing demand for genetically modified crops. Fortune Business Insights has presented this information in its report titled “Plant Genomics Market, 2022-2029”. Plant genomics studies the genetic composition of entire plants and its implications for plant breeding, as well as genetic manipulation, to improve plant quality.
COVID-19 Impact
Repurposing and Searching for New Drugs are The Primary Concern Amidst COVID-19
The COVID-19 outbreak was caused by severe acute respiratory syndrome (SARS-CoV-2); a devastating disease for which no vaccines or specific therapeutic molecules have been identified. The search for new drugs and the repurposing of existing drugs are ongoing; however, research on plants to identify novel therapeutic compounds or test existing ones is moving at a slower pace.
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List of Key Players in the Global Market:
- Eurofins Scientific
- Illumina Inc
- NRGene
- Neogen Corporation
- Qiagen
Report Scope & Segmentation:
| Report Attribute | Details |
| Base Year | 2021 |
| Historical Year | 2018 – 2020 |
| Forecast Year | 2022 – 2029 |
| Segments Covered | By Type, By Application, By Trait and By Geography |
| Forecast Units | Value (USD Billion), and Volume (Units) |
| Quantitative Units | Revenue in USD million/billion and CAGR from 2020 to 2029 |
| Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America and Rest of World |
| Countries Covered | Unites States, Canada, Mexico, Unites Kingdom, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Number of Companies Covered | Eurofins Scientific, Illumina Inc, NRGene, Neogen Corporation, Qiagen and Others |
| Isobutanol Market | Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Report Coverage
The report covers an in-depth analysis of the plant genomics industry. The report furthermore comprises data on the prominent players of the market, restraining and driving factors of the market. Additionally, it consists of the cumulative COVID-19 impact on the market.
Segmentation
On the basis of type, the market is divided into molecular engineering, genetic engineering, and others. On the basis of traits, the market is divided into yield improvement, disease resistance, herbicide tolerance, and others. On the basis of application, the market is segmented into cereals & grains, fruits & vegetables, oilseeds & pulses, and others. Geographically, Europe, North America, South America, Asia Pacific, and the Middle East & Africa.
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Drivers & Restraints
Adoption of a Healthy Lifestyle to Augment Market Growth
The market is seeing an increase in demand for high-quality fruits, vegetables, and cereals as the population grows and people become more health-conscious. Although conventional plant breeding techniques have advanced in recent years, there is still a persistent supply-demand gap for new crop varieties. As a result, crop improvement programs based on genomics must be integrated. Genetic engineering, tissue culture, molecular diagnostics, molecular markers, and the development of beneficial microbes are the major genomics applications used to improve crop quality. However, high complexity in plant genomes may hinder the plant genomics market growth.
Regional Insights
Europe to Lead the Global Market for Plant Genomes
In the coming years, the European region's plant genomics market share is expected to expand significantly. The growth is attributable to the rising demand for high-quality food. Furthermore, government initiatives aimed at improving crop quality contribute to the region's market's continued growth.
Competitive Landscape
Key Players to Employ Several Growth Strategies to Expand Market Presence
Huge companies and research institutes are increasing their investments in the development of new plant varieties and the domestication of crops that have been pending for many years. For instance, the Boyce Thompson Institute in Ithaca, New York, and Cold Spring Harbor Laboratory are collaborating to domesticate ground cherries using CRISPR-Cas9 gene-editing technology. The process's goal is to create ground cherries that can be mass-produced and sold as a berry crop on the market. The application of new and advanced technologies, such as data mining and the increasing use of artificial intelligence and automation, plays a critical role in allowing companies to explore new areas of plant genomics.
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Industry Development
November 2020: Plant-based technology company Calyxt, Inc., entered into a research collaboration with NRGene, which included the use of NRGene’s cloud-based genomics platform to evaluate and accelerate trait discovery and breeding across multiple crops.
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