Wilmington, Delaware, United States, March 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. – Companies in the Spatial Genomics & Transcriptomics Market are harnessing the potential of advanced technologies to analyze the pathogenesis of several chronic and infectious diseases, notably in cardiology and neurology. Many spatial transcriptomics tools are being utilized to delineate disease-specific biomarkers in cancers and understand the molecular mechanisms of the disease. The spatial genomics & transcriptomics industry was valued at US$ 0.36 Bn in 2022 and is projected to reach US$ 2 Bn by 2033.
The TMR study indicates that based on technique, spatial transcriptomics is a lucrative segment in the spatial genomics & transcriptomics market. The segment is projected to expand at a CAGR of 16.9% during 2023 – 2033. Spatial transcriptomics is extensively used to understand the spatial heterogeneity of diseases such as respiratory diseases, diabetes, and cancer. A prominent example of where the technologies are useful is their usage to identify the pathogenesis of viral myocarditis.
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Key Findings of Study
- Significant Utilization of Spatial Genomics & Transcriptomics in Translational Research: Significant demand for emerging spatial transcriptomics techniques in translational research is a key market trend. Spatial omics techniques have shown high potential to understand genomic features in diseased tissues and offer new insights to researchers to develop better diagnostic tools and therapeutics to manage them. Translation research is a lucrative application segment in the global spatial genomics & transcriptomics market. The segment is anticipated to expand at a CAGR of 16.7% from 2023 to 2033. Significant usage of translation research to develop novel therapies and diagnostic methods for infectious and chronic diseases in various medical specialties is anticipated to propel the segment. A number of recent research activities focus on exploring the translational values of spatial transcriptomics.
- Rapid Utilization of Spatial Transcriptomics Technologies in Chronic Disease Management: New spatial transcriptomics techniques are being adopted by researchers to understand molecular pathogenesis and identify disease-specific biomarkers. An instance is the usage of these techniques in spatiotemporal molecular pathology. A surge in the usage of spatial transcriptomics in the area of pathology is expected to boost the spatial genomics & transcriptomics market size.
Key Drivers
- The increase in usage of spatial transcriptomics & genomics in several biomedical applications, such as drug discovery, management of diseases, and personalized medicine, is a key driver of the industry
- The surge in the commercialization of spatial transcriptomics platforms and continuous R&D in spatial genomics techniques are expected to broaden the market outlook.
- A rise in research investments in translational medicine for cancer is expected to bolster the spatial genomics & transcriptomics market
- A surge in demand for personalized medicine is expected to spur R&D in clinical and translational medicine.
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Regional Growth Dynamics
- North America is a lucrative market for spatial genomics & transcriptomics. The market was valued at US$ 148 Mn in 2022 and is projected to reach US$ 806 Mn by the end of the forecast period 2023–2033. The rise in the prevalence of cancer is expected to fuel demand for spatial genomics & transcriptomics technologies to help in the management of the disease. The high prevalence of lung cancer in the U.S. and Canada is bolstering the demand for spatial genomics & transcriptomics tools. The adoption of advanced biomarkers is expected to accelerate market development in North America.
- Within North America, the U.S. is a lucrative market. It is projected to expand at a CAGR of 16.7% from 2023 to 2033. A surge in the incidence of liver cancer and a rise in the health burden of various cancers in the country is anticipated to offer abundant opportunities for companies in the spatial genomics & transcriptomics market. Furthermore, China and Japan are lucrative countries in the global market.
Competition Landscape
Key players are keen on unveiling new spatial omics technologies in order to gain a competitive edge over others. Many prominent companies are expanding their research and development activities in cancer biomarkers to gain market share.
Key players operating in the market are
- NanoString,
- 10x Genomics,
- Illumina, Inc.,
- Bio-Rad Laboratories,
- Standard BioTools,
- Danaher Corporation,
- Natera,
- PerkinElmer, and Seven Bridges
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Spatial Genomics & Transcriptomics Market Segmentation
By Technique
- Spatial Transcriptomics
- Spatial Genomics Analysis
By Product
- Instruments
- Consumables
- Software
By Application
- Translational Research
- Drug Discovery and Development
By End-user
- Academic & Research Institutes
- Contract Research Organizations
- Pharmaceutical & Biotechnology Companies
- Others
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Transparency Market Research
Transparency Market Research, a global market research company registered in Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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