According to a new report published by Allied Market Research, titled, “Spatial Genomics and Transcriptomic Market, by Technique, Product Type Application, End User: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the global spatial genomics and transcriptomic market size was valued at $0.62 billion in 2020 and is projected to reach $2.15 billion by 2030 registering a CAGR of 13.6% from 2021 to 2030.
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Drivers, restraints, and opportunities
increase in adoption of spatial genomics and transcriptomics technologies owing to its various application, growth in prevalence of genetic disorders, and rise in preference toward personalized medicines, are some factors, which is expected to propel growth of the spatial genomics and transcriptomic market during the forecast period.
Covid-19 Scenario
COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. The global spatial genomics and transcriptomics market also declined in 2020 due to global economic recession led by COVID-19. However, market witness recovery in the year 2021, owing to increase in adoption of spatial genomics & transcriptomics to profile COVID-19 tissue autopsies as well as rise in biomarker identification and its use in drug discovery and development programs.
Leading Market Players: 0X Genomics, Inc., Akoya Biosciences, Inc., BioSpyder Technologies Inc., Bio-Techne Corporation (Advanced Cell Diagnostics, Inc.), Dovetail Genomics, LLC, Fluidigm Corporation, Genomic Vision SA, Illumina, Inc., Lunaphore Technologies SA, Nanostring Technologies, Inc., Natera Inc., PerkinElmer Inc.
By product type, it is segmented into instruments, consumables, and software. The consumables segment dominated the global spatial genomics and transcriptomic market in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to increase in adoption of consumables that are required to run the instruments across various stages of genome mapping from sample preparation to result derivation. Based on application, it is segmented into translational research, and drug discovery & development.
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By end user, it is segmented into pharmaceutical & biotechnology companies, contract research organizations, and academic & research institutes.
The academic & research institutes segment acquired the largest share in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to surge in genomic research projects conducted by academic research institutes as well as collaboration among major players and universities for development of novel approaches to cure chronic conditions through genetic medicine.
North America to continue its dominant share by 2030
North America accounted for the largest share of the global spatial genomics and transcriptomic market in 2020, and is expected to remain dominant throughout the forecast period. This was attributed to presence of large number of key players as well as increase in number of large-scale genomics studies leveraging RNA sequencing in the region. Furthermore, increasing adoption of personalized medicine for screening and diagnostics of genetic disorders is expected to further boost the market growth.
FREQUENTLY ASKED QUESTIONS?
Q1. What is the total market value of spatial genomics and transcriptomic market report?
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Q3. What is the market value of spatial genomics and transcriptomic market in 2021?
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Q5. Which are the top companies hold the market share in spatial genomics and transcriptomic market?
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Q7. What are the key trends in the spatial genomics and transcriptomic market report?
Q8. What are the market values / growth % of emerging countries?
Q9. What is spatial genomics and transcriptomic?
Q10. What are spatial genomics and transcriptomic used for?
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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