New York, United States , April 17, 2023 (GLOBE NEWSWIRE) -- The Global Agrigenomics Market Size is to grow from USD 3.27 billion in 2021 to USD 7.30 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 9.3% during the forecast period. Increasing agrigenomics applications in routine agricultural operations, an increase in DNA/RNA sequencing project grants, and technological developments in genomics and agriculture are among the key drivers anticipated to fuel market expansion during the prediction period.
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Agrigenomics is the analysis of the genetic makeup of livestock and crops, as well as how genes influence crop production. The application of genomics in agriculture increases efficiency as well as sustainability in livestock and crop production. The usage of genomics in agriculture, also known as agrigenomics, has and will continue to fuel sustainable productivity while also providing solutions to one of the world's most pressing challenges: feeding the world's growing population. Some of the factors assisting the market's growth are the introduction of technological advancements in genome databases by livestock breeders, as well as an increase in demand from breeders for high quality livestock animals. The global market is being fuel by rapid advances and development in the functional genomics sector, such as the utilization of massively parallel sequencing technologies and the development of protocols to efficiently analyse cellular behaviour at the molecular level. However, when particularly in comparison to other fields such as human genetics, the implementation of automated systems in agrigenomics research has been relatively low due to budgetary limitations.
Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on "Global Agrigenomics Market Size, Share, and COVID-19 Impact Analysis, By Objective (DNA Extraction & Purification, RNA/Agrigenomics, Genotyping, Gene Expression Profiling, GMO/Trait Purity Testing, Marker-Assisted Selection, Others), By Sequencer Type (Sanger Sequencing, Illumina HSEQ Family, Solid Sequencers, Pacbio Sequencers, Other Sequencers), By Application (Crops, Livestock), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030 " Get Detailed Report Description Here:
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The marker-assisted selection is anticipated to hold the largest market over the forecast period.
On the basis of objective, the global agrigenomics market is classified into DNA extraction & purification, RNA/agrigenomics, genotyping, gene expression profiling, GMO/trait purity testing, marker-assisted selection, and others. Marker-assisted selection is projected to hold the greatest market share because it improves breeding efficiency and effectiveness considerably more than conventional breeding.
The Illumina HSEQ sequencing segment held the largest share of the agrigenomics market.
Based on the sequencer type, the global agrigenomics market is categorized into sanger sequencing, Illumina HSEQ family, solid sequencers, pacbio sequencers, and other sequencers. Illumina HSEQ sequencing is a powerful agrigenomics research tool that allows researchers to study the genetic makeup of livestock and crops in great detail. Researchers can develop new varieties of crops and livestock that are more productive, disease-resistant, and environmentally sustainable by identifying genetic markers associated with desirable traits.
The crops segment is estimated to hold the highest share in the agrigenomcis market over the projected period.
Based on the application, the global agrigenomics market is categorized into crops and livestock. Researchers in the crop segment of agrigenomics are using genomics technologies to investigate the genetic makeup of various crops such as wheat, rice, corn, soybeans, and others. CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) tools are accelerating development because they are cost-effective and offer advanced features like multiplexing.
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North America is expected to hold the largest share of the market during the predicted timeframe.
North America is currently the largest agrigenomics market, accounting for a sizable portion of global revenue. This is due to a number of factors, including a robust agricultural sector, cutting-edge research infrastructure, and favourable government policies. The US is a major player in this industry, with many companies and research institutions conducting cutting-edge agrigenomics research. Asia Pacific is expected to be the fastest growing region for the agrigenomics market, with several countries investing in research and development in this area, including China, India, and Japan. The region has a large population and rising food demand, which is driving agricultural growth. Rapid technological advancement in agricultural improvement boosts market growth in the Asia Pacific developing countries.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Agrigenomics Market include Agilent Technologies, Inc., Eurofins Scientific SE, LGC Limited, SciGenom Labs Pvt. Ltd, Illumina, Tecan Genomics Inc., Zoetis' Inc, Monsanto Company, Nufarm Limited, Biogenetic Services, Affymetrix, Genotypic Technology Pvt Ltd, Thermo Fisher Scientific, GalSeq SRL, Edico Genome, and Others.
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Recent Developments
In February 2023, Singrow, a Singapore-based agri-genomics firm with a proprietary genomics technology platform, has just announced the release of the world's first climate-resilient strawberry variety. The novel strawberry variety is the first application of this transformative technology. The company is currently developing other crop segments to address food security challenges around the world, particularly in Asia and Africa, which have been impacted by climate change.
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