The global spatial genomics and transcriptomics 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. Market growth is largely driven by the increasing adoption of spatial genomics and transcriptomics analysis among small companies and startups, expanding applications in biomarker identification and drug discovery & development, and increasing investment in biopharmaceutical R&D. On the other hand, lack of awareness about these techniques in the emerging countries and the high cost of instruments are some factors limiting the market growth.
“By application, the translational research accounted for the largest share of the spatial genomics & transcriptomics market”
Based on application, the spatial genomics and transcriptomics market is categorized into translational research and drug discovery & development. The translation research segment dominated the market in 2019, owing to increased investments by researchers in biomarker identification using spatial genomics and transcriptomics techniques.
“Asia Pacific: The fastest-growing region in the spatial genomics & transcriptomics market.”
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period, mainly due to the growing biopharmaceutical industry, increasing life science research, rising investments by pharmaceutical and biotechnology companies, and the growing number of CROs and CMOs in several APAC countries contribute to its growth.
“North America: the largest share of the spatial genomics & transcriptomics market”
North America accounted for the largest share of the spatial genomics & transcriptomics market. Factors such as the to the presence of an established biopharmaceutical industry and the presence of major players operating in the spatial genomics & transcriptomics market in the region are the major factors driving the market growth.
Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs. The break-up of the primaries is as follows:
- By Respondent– Supply Side- 50%, Demand Side- 50%
- By Designation- Executives- 40%, Research Scientists- 30%, Managers - 30%
- By Region- North America - 40%, Europe - 20%, APAC – 20%, LATAM- 10% MEA-10%
The spatial genomics & transcriptomics market is dominated by a few globally established players such as NanoString Technologies, 10X Genomics, Illumina, Bio-Techne, Fluidigm Corporation, ReadCoor, S2 Genomics., RareCyte, BioSpyder, Bio-Rad Laboratories, Seven Bridges Genomics, Dovetail Genomics, Optical Biosystems, Cytiva, Miltenyi Biotec., Akoya Biosciences, Ultivue, and Vizgen Corp.
The report segments the spatial genomics & transcriptomics market based on region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa), techniques (spatial transcriptomics, spatial genomics analysis), product (consumables, instruments, software’s), application (translational research, drug discovery & development), end user (academic & research institutes, contract research organizations, pharmaceutical & biotechnology companies) The report also provides a comprehensive review of market drivers, challenges, and opportunities in the spatial genomics & transcriptomics market
Key Benefits of Buying the Report:
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market and the sub-segments. This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and plan suitable go-to-market strategies. The report also helps stakeholders understand the pulse of the spatial genomics & transcriptomics market and provides them information on key market drivers, challenges, and opportunities.