Newark, New Castle, USA, April 06, 2023 (GLOBE NEWSWIRE) -- According to a recent Growth Plus Reports study, the global spatial genomics & transcriptomics market is estimated to hit US$ 1,398.90 million by 2031, with a revenue CAGR of 16.10%. The study examines the important strategies, drivers and prospects, competitive circumstances, shifting market dynamics, market size, data and forecasts, and important investment regions.
Key Takeaways:
- The increasing cancer prevalence will drive market revenue growth.
- Increasing demand for personalized medicine will drive demand for spatial genomics & transcriptomics.
- North America dominates the global spatial genomics & transcriptomics market.
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Spatial Genomics & Transcriptomics Market Scope
| Report Attribute | Details |
| Market size value in 2022 | US$ 365 million |
| Revenue forecast in 2031 | US$ 1,398.9 million |
| Growth Rate | CAGR of 16.1% from 2023 to 2031 |
| Base year for estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments covered | Technique, Product, End-user, and Region. |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Market Drivers
An increase in cancer prevalence will drive the revenue growth of spatial genomics & transcriptomics market. Furthermore, the growing demand for spatial genomics and transcriptomics techniques in personalized medicine are expected to boost the market revenue growth rate. Apart from this, increased R&D efforts, as well as strategic partnerships and collaboration among market competitors are expected to support the market's revenue growth.
Market Segmentation
Growth Plus Reports has analyzed global spatial genomics & transcriptomics market from four perspectives: Technique, Product, End-user, and Region.
Technique Segmentation: Based on the technique, the global spatial genomics & transcriptomics market is segmented into spatial transcriptomics and spatial genomics. The spatial transcriptomics segment dominates the market with the largest revenue share because there is a growing demand for more accurate and thorough gene expression data analysis.
Product Segmentation: Based on the product, the global spatial genomics & transcriptomics market is segmented into instruments, consumables, and software. The consumables segment dominates the market because it offers the tools and materials required to analyse spatially resolved gene expression data. These tools and materials are used in sample processing, amplification, and analysis of spatially resolved gene expression data.
End-User Segmentation: Based on the end-user, the global spatial genomics & transcriptomics market is segmented into academic customers, translational research, diagnostic customers, and pharmaceutical & biotechnology companies. The academic customers segment dominates the market because spatial genomic analyses are frequently used in academic research facilities because they fully examine diverse diseases.
Regional Growth Dynamics
Based on the region, the global spatial genomics & transcriptomics market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global spatial genomics & transcriptomics market with the largest revenue share of the market. Strategic investments in disease pathology research, a focus on transcriptomics research and development, the introduction of new products, and the region's abundance of pharmaceutical and biotechnology firms are responsible for North America's significant revenue share in the global market.
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Competitive Landscape
The key players in the global spatial genomics & transcriptomics market are:
- 10x Genomics
- Natera Inc.
- Illumina Inc.
- Dovetail Genomics
- Bio-Techne
- PerkinElmer Inc. (Horizon Discovery Group Plc.)
- Seven Bridges Genomics
- NanoString Technologies Inc.
- Lunaphore Technologies SA
- Standard BioTools
The market for spatial genomics & transcriptomics is moderately competitive, with several multinational companies. To enhance their market position, major competitors engage in technological advancements, R&D, and mergers and acquisitions.
Recent developments:
- Oxford Nanopore Technologies plc announced a collaboration with 10x Genomics in October 2022 to provide a streamlined technique for sequencing full-length transcripts in single reads on Oxford Nanopore devices. Users will be able to cover traits such as fusion genes or transcripts with repeating sections, resulting in significant, cost-effective single-cell and spatial sequencing data. The collaboration involves Oxford Nanopore's PromethION devices, 10x Genomics Compatible Partner Program consumables, and sample processing on 10x Genomics devices. (CPP). Oxford Nanopore also announced the launch of a novel open-source end-to-end nanopore-only single-cell technique. Both organizations expect this to result in a more effective customer experience and demonstrate the compelling worth of nanopore-based sequencing in conjunction with 10x Genomics processes.
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