(I-BusinessNews.Com, June 04, 2021 ) According to the new market research report the global spatial genomics market is projected to reach USD 404 million by 2025 from USD 178 million in 2020, at a CAGR of 17.8% during the forecast period.
The major factors driving the growth of the spatial genomics and transcriptomics market are the increasing adoption of spatial genomics and transcriptomics techniques for drug discovery & development and the increasing R&D investments and public-private funding. Additionally, the introduction of technologically advanced instruments for spatial genomics analysis is also boosting the market growth. However, the high capital investments associated with spatial genomics and transcriptomics are a major factor restraining market growth.
Spatial genomics & transcriptomics market is categorized into major four product categories, techniques, product, application and end user. Among the techniques, spatial transcriptomics techniques segment is expected to grow at the highest CAGR during the forecast period. Growth in this market segmentis attributed to the increasing demand for and high adoption rate of in situ sequencing techniques.
Based on product, the global spatial genomics & transcriptomics market is categorized instruments, consumables, and software. In 2019, consumables accounted for the largest share in the global spatial genomics and transcriptomics market. The growing applications of spatial genomics and transcriptomics in various fields such as drug discovery & development and biomarker identification and the growing use of consumables are the key factors driving the market growth.
On the basis of technique, the spatial genomics market is segmented into spatial transcriptomics techniques and spatial genomics analysis techniques. The spatial transcriptomics techniques segment is further sub-segmented into immunohistochemistry (IHC), in situ hybridization, sequencing technologies, microscopy-based RNA imaging, and other spatial transcriptomics techniques. Among these, immunohistochemistry segment held a dominant share owing to emergence of multiplex immunohistochemistry/ immunofluorescence (mIHC/IF).
Furthermore, spatial genomics analysis technique segment is further sub-segmented into into fluorescence in situ hybridization (FISH), sequencing techniques, and other spatial genomics analysis techniques. The increasing demand for new biomarkers for diagnosis and personalized medicine is a major factor boosting the demand for spatial genomics analysis as a cancer diagnostic tool.
Based on application, the spatial genomics market is segmented translational research and drug discovery & development. The translational research application segment accounted for the largest share of the market in 2019.
The large share of the translational research segment can be attributed to the increasing use of spatial genomics and transcriptomics to determine high-throughput data on the organizational structure of cell content from tissue and cell species.
Based on end users, the spatial genomics market is segmented into into academic & research institutes, contract research organizations (CROs), and pharmaceutical & biotechnology companies. In 2019, the academic & research institutes segment accounted for the largest share of the spatial genomics and transcriptomics market. Market growth can largely be attributed to the increase in research intensity in this end-user segment and the availability of sufficient grants and funds for research.
The Asia Pacific spatial genomics market is expected to witness the highest growth during the forecast period, primarily due to the growing biopharmaceutical industry, increasing life science research, rising investments by public and private funders, and the growing number of CROs and CMOs in several APAC countries.
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