PUBLISHER: Grand View Research | PRODUCT CODE: 1511817
PUBLISHER: Grand View Research | PRODUCT CODE: 1511817
The global spatial transcriptomics market is anticipated to reach USD 902.2 million by 2030, exhibiting a CAGR of 15.23% from 2024 to 2030, according to a new report by Grand View Research, Inc. The rising potential of spatial omics analysis as a cancer tool increased the demand for spatial transcriptomics, continuous advancements in spatial transcriptomics technologies, and the expanding field of drug discovery and development are anticipated to increase the demand for spatial transcriptomics over the forecast period.
Moreover, there is continued integration of AI and ML in various industries, including healthcare, finance, and manufacturing. The industry is witnessing advancements in natural language processing, computer vision, and reinforcement learning. In healthcare, AI-driven spatial analysis can enhance the precision of mapping disease outbreaks, optimizing resource allocation, and predicting patient outcomes based on geographical data. Thus, as AI and ML continue to evolve, their application in spatial analysis is expected to drive significant growth and innovation across various industries, leveraging the power of spatial data to enhance decision-making and operational efficiency. Thereby impelling the growth of the spatial transcriptomics market over the foreseeable future.
However, analyzing spatial transcriptomics data requires specialized computational tools and expertise. The interpretation of large-scale spatial datasets presents challenges related to data management, integration, and visualization. The high costs associated with instruments, reagents, and data analysis can pose a barrier to entry for some researchers and is anticipated to hamper the growth of the market.