The global plant genomics market is projected to grow from $7.26 billion in 2020 to $12.26 billion by 2025, at a CAGR 11.06% from 2020 to 2025. The growth in plant genomics market is expected to be driven by rising need for improved crop traits, increasing need to reduce crop losses, and reducing cost of DNA sequencing and synthesizing.
Plant genomics caters to several applications such as yield management, diseases resistance, and herbicide tolerance. The utilization of technologies in plant genomics, such as DNA/RNA sequencing, genotyping, marker-assisted selection and bioinformatics, is expected to augment the growth of plant genomics in the technology sector. Moreover, depleting agricultural land and increasing demand for fresh agricultural produce all around the year are expected to propagate the growth of plant genomics market.
The competitive landscape of the plant genomics market consists of different strategies undertaken by major players across the industry to gain market presence. The competitive landscape for the plant genomics market demonstrates an inclination toward companies adopting strategies, such as product launch and development and partnerships, collaborations, and joint ventures. The major established players in the market focus on partnerships, collaborations, and joint ventures to introduce new technologies or develop further on the existing product portfolio. KeyGene, N.V., Novogene, Oxford Nanopore Technologies, Genewiz, Front Range Biosciences, and Eurofins Scientific are some of the prominent players in the plant genomics market. The market is highly fragmented with the presence of a large number of small- to medium-sized companies that compete with each other and the large enterprises.
Regional Market Dynamics
The global plant genomics market holds a prominent share in various countries of North America and Europe. North America is at the forefront of the global plant genomics market, with a high market penetration rate in the U.S., and Canada, which are expected to display robust market growth in the coming five years.
During the forecast period 2020-2025, the Asia-Pacific and Japan region is expected to flourish as one of the most lucrative markets for plant genomics. Asia-Pacific and Japan region is expected to exhibit significant growth opportunities for plant genomics due to the increased optimism in the economic conditions of these countries. The countries in this region present immense scope for market development, owing to the increasing urban population size, growing market penetration of advanced technologies, favorable government investments on the adaptation of innovative farming technologies.
Market Report Coverage - Plant Genomics
- Applications- Yield Improvement, Disease Resistance, Herbicide Tolerance, and Others
- Technology- DNA/RNA Sequencing, Bioinformatics, Genotyping, Marker-Assisted Selection and Others
- Product Offering- Hardware Device, Software/Platform, and Support Services
- Farm Produce- Cereals, Fiber crops, Oil crops, Pulses, Vegetables, Fruits, Roots and Tubers, and Tree Nuts
- Region – North America, South America, Europe, U.K., China, Asia-Pacific Japan, and Middle East and Africa
- North America – U.S., Canada, and Mexico
- South America – Brazil, Argentina, Chile, and Rest-of-South America
- Europe –Germany, France, Italy, Spain, Netherlands, and Rest-of-Europe
- Asia-Pacific and Japan – Japan, India, Australia, South Korea and Rest-of-Asia-Pacific and Japan
- Middle East and Africa –Israel, South Africa, Saudi Arabia and Rest-of-Middle East and Africa
- Rising Need for Improved Crop Traits
- Increasing Need to Reduce Crop Losses
- Reducing Cost of DNA Sequencing and Synthesizing
- High Initial Deployment Cost
- Lack of Awareness in Handling Modern Plant Genomics Technologies in Developing Countries
- Favorable Government Initiatives to Support Research and Development
- Increasing Opportunity for Using Next-Generation Sequencing Technologies
Key Plant Genomics Companies Profiled
Eurofins Scientific, Illumina, Inc., Front Range Biosciences, Qiagen, NRGene, Neogen Corporation, Keygene N.V., LC Sciences, LLC., Traitgenetics GmbH, Novogene Co., Ltd., Oxford Nanopore Technologies, Genewiz, BGI Genomics Co. Ltd., Floragenex, Inc., Genotypic Technology Pvt. Ltd.
Key questions answered in this report:
- What is the expected global plant genomics market size in terms of value during 2019-2025?
- What is the expected future scenario and revenue generated by the application segments including yield management, herbicide tolerance, and disease resistance?
- What is the expected future scenario and revenue to be generated by the different types of product offerings, including hardware, software/platform, and support services, during the forecast period 2020-2025?
- What is the expected future scenario and revenue to be generated by the different types of technologies, including DNA/RNA sequencing, genotyping, marker-assisted selection, and bioinformatics during the forecast period 2020-2025?
- What is the expected future scenario and revenue to be generated by the plant genomics for different farm produce, including cereals, oil crops, fiber, fruits, and vegetables, among others?
- What are the different regulations present in different regions regarding the development of crops through plant genomics?
- Which region is the largest market for the global plant genomics market?
- What is the expected future scenario and the revenue to be generated by different regions and countries in the plant genomics market?
- What is the competitive strength of the key players in the plant genomics market on the basis of the analysis of their recent developments, product offerings, and regional presence?
- Where do the key plant genomics companies lie in their competitive benchmarking, compared to the factors of market coverage and market potential?
- How is the government initiative landscape across different regions and countries in the plant genomics market?
- How is the funding and investment landscape in the global plant genomics market?
- Which are the leading consortiums and associations in the global plant genomics market, and what is their role in the market?
- What are the market dynamics of the global plant genomics market, including market drivers, restraints, and opportunities?
- How has COVID-19 impacted the global plant genomics market?