New York, NY, May 10, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Agrigenomics Market By Technology (Real-Time PCR (PCR), Microarrays, Next Generation Sequencing, Capillary Electrophoresis, Others) By Application (Crops and Livestock), By Service Offerings (Genotyping, DNA Fingerprinting, Assessment of Genetic Purity, Trait Purity Assessment, Gene Expression Analysis, Others), By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026”.
“According to the research report, the global Agrigenomics Market was estimated at USD 12.62 Billion in 2020 and is expected to reach USD 19.37 Billion by 2026. The global Agrigenomics Market is expected to grow at a compound annual growth rate (CAGR) of 7.4% from 2020 to 2026”.
Agrigenomics Market: Key Market Insights Overview
Agricultural genomics is the development of genomics in farming to increase agricultural and livestock efficiency and production. Growing usage of genome sequencing in livestock allows the study of parent lineage and helps in understanding the features of infectious agents like viruses and bacteria that infest or live on them. The high resolution of next-generation sequencing allows researchers to track the mutations in infectious agents over time, which aids in the understanding of disease transmission patterns and aids in the creation of successful treatments. Furthermore, these studies enable researchers to better monitor disease outbreaks in livestock, resulting in increased productivity. These factors are significant demand drivers for agrigenomics.
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Key Questions Answered in this Report
1) What were the pre and post-business impacts of COVID-19 on the Agrigenomics Market?
2) What is the market size, share of the Agrigenomics Market?
3) Who are the top market players in Agrigenomics Market?
4) What will be the future market of the Agrigenomics Market?
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- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Agrigenomics Market: Industry Major Market Players
- Thermo Fisher Scientific' Inc.
- LGS Limited, Illumina' Inc
- Zoetis' Inc
- Neogen Corporation
- Agrigenomics' Inc.
- Biogenetic Services' Inc.
- Tecan Genomics Inc.
- Affymetrix Inc.
- Genotypic Technology Pvt Ltd
- GalSeq srl
- SciGenom Labs Pvt. Ltd
- AgriGenome Labs
- NuGEN
- LGC Biosearch Technologies
- Neogen Pharma
- Edico Genome
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Market Dynamics
High Demand for agrigenomics for Boosted the Market Growth
Due to rapid population growth and rising global food demand, there is an increasing demand for agrigenomics in the livestock industry. The high demand for agrigenomics in the application of genomics in agriculture helps to improve the sustainability and productivity of livestock and crop production, driving the market's growth from 2021 to 2026. Furthermore, significant advancements in technology that have led to the switch from single-gene sequencing to whole-genome sequencing, as well as an increase in funds for agrigenomics research, fuel the adoption of novel technologies and rising adoption of agrigenomics because it can reduce the use of harmful pesticides by enhancing resistant power during the early stages and an increase in funds for research fuel the adoption of novel technologies and rising adoption of agrigenomics. Furthermore, increasing research in the field of agrigenomics in emerging economies and DNA sequencing in livestock is generating a slew of lucrative opportunities that will propel the market forward during the forecast era. Higher throughput and lower cost per sample have resulted from the rapid adoption of sequencing technology in the agrigenomics industry. Because of this, the NGS technique is positioned in the agrigenomics market as a cost-efficient method for purity checking, genotype screening, gene mapping, conducting association mapping, screening backcross lines, genomic selection, and constructing haplotype maps. Furthermore, in the agrigenomics industry, NGS is commonly used for genomes that are large where funding is less. Crop researchers have also been pushing the industry by promoting the use of NGS for genomic that assisted breeding and genomic selection. Researchers are looking into the agrigenomics industry to see if there are any solutions to diseases that cause massive food loss. However, in the forecasted timeframe, the low adoption of automated instruments is acting as a market restriction for the agrigenomics for the livestock market, while one of the biggest challenges to the market's growth is the hazardous effects that restrict certain research practices.
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COVID-19 Impact on the Global Agrigenomics Market
According to the Food and Agriculture Organization, the sudden outbreak of pandemic is affecting agriculture in two major ways: food supply and demand. These two factors are inextricably linked to food security, putting it in jeopardy. Mobility constraints and decreased purchasing power have a significant effect on food demand and security, with the most vulnerable population groups bearing the brunt of the impact. As the number of cases of contagion rises, policymakers take more aggressive steps to halt the virus's spread, affecting the global food system in the process. Regardless of whether any governments go in the opposite direction, the principle of any action taken should be to protect the population's health and food security at the expense of economic development.
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Global Agrigenomics Market: Segmentation
The global Agrigenomics market is segmented based on technology as Real-Time PCR (PCR), Microarrays, Next Generation Sequencing, Capillary Electrophoresis, and Others. By application, the market is divided into crops and livestock. It is observed that with the increased demand for GM crops and the research undertaken in the domain, the crop application will increase.in the forecast period. By service offering the market is divided into Genotyping, DNA Fingerprinting, Assessment of Genetic Purity, Trait Purity Assessment, Gene Expression Analysis, Others. Genotyping is the process of determining differences in an individual's genetic make-up by examining the individual's DNA sequence using biological assays and comparing it to the sequence of another individual or a reference sequence. Identification is the basis for the development in genetic research thus genotyping is likely to be the dominant service offering in the forecast period. The DNA/RNA Sequencing segment is also expected to grow at a faster rate during the forecasted period due to the rising demand for sequencers that can sequence a large number of samples at a low cost.
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North America dominates the Agrigenomics Market
The North American agrigenomics market is steadily growing due to the growing adoption of agrigenomics, which can help to minimize the use of harmful pesticides by improving resistance capacity during the early stages of growth. Pesticide use has been reduced significantly as a result of the introduction of agrigenomics. Strong R&D, new technology innovation, and increased merger and acquisition (M&A) activity are the major factors driving the market growth. With growing revenue generation within the region, the United States is the largest market in North America, followed by Canada and Mexico. NRGene had put together the genome structure of a commercially grown strawberry in November 2016 and by using Illumina technology, the genome was sequenced and assembled using NRGene's DeNovoMAGIC 3.0 cloud-based software. Again, Affymetrix, Inc. presented many new agrigenomic genotyping solutions (PAG XXIV). Affymetrix had launched Eureka Genotyping Solution for low-plex, low-cost genotyping by sequencing, following the company's acquisition of Eureka Genomics in mid-2015 (GBS). Two new array configurations for the Axiom® genotyping platform are also being introduced, giving customers a wide variety of choices for sample numbers and throughput targets. Asia-Pacific is expected to register the fastest growth rate during forecasted analysis. With the support of international partnerships, China and Australia have been upgrading their technology and services to boost their growth in agriculture and horticulture operations in the Asia-Pacific region. Australia, China, Japan, South Korea, and India have funded agrigenomic research projects in specific areas of interest. Certain factors are attributing to the growth of the market.
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The Global Agrigenomics market is segmented as follows:
Agrigenomics Market: By Technology
- Real-Time PCR (PCR)
- Microarrays
- Next Generation Sequencing
- Capillary Electrophoresis
- Others
Agrigenomics Market: By Application
- Crops
- Livestocks
Agrigenomics Market: By Service Offerings
- Genotyping
- DNA Fingerprinting
- Assessment of Genetic Purity
- Trait Purity Assessment
- Gene Expression Analysis
- Others
Frequently Asked Questions
What are the key factors driving Agrigenomics market expansion?
The agrigenomics market is expected to expand rapidly during the forecast period, owing to the accelerating increase in population, rise in crop and livestock demand, government policies to support research and development of crop productivity and increase in supply for genomic datasets by the livestock breeders.
What will be the value of the Agrigenomics market during 2021- 2026?
According to a Facts and Factors report, global demand for agrigenomics is estimated to be around USD 12.62 Billion in 2020, with annual sales of approximately USD 19.37 Billion at the end of 2026, representing a CAGR of around 7.4% from 2021 to 2026.
Which region will make notable contributions towards global Agrigenomics market revenue?
North America accounted for the major market share among the others, and it has been expected to maintain this trend in the near future, owing to huge growth in research and development in genetics.
KEY REPORT POINTERS & HIGHLIGHTS:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Micro, Meso, Macro, and In-Depth Analysis of Technically relevant and Commercially viable Segments and Sub-segments of the Market
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
- Historical and Current Demand (Consumption) and Supply (Production) Scenarios as well as Projected Supply-Demand Scenario Analysis
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
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- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
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