PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1635138
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1635138
The spatial genomics & transcriptomics product market is expected to reach USD 995.7 million in 2029 from USD 554.5 million in 2024, at a CAGR of 12.4% during the forecast period.
Scope of the Report | |
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Years Considered for the Study | 2022-2029 |
Base Year | 2023 |
Forecast Period | 2024-2029 |
Units Considered | Value (USD) |
Segments | Offering, Technique, Application, Type (Service), End User (Product), End User (Service) |
Regions covered | North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa |
The spatial genomics and transcriptomics market is expanding under the influence of factors like new product introduction and rising acceptance of spatial genomics and transcriptomics in medication discovery and development. Nevertheless, expensive initial capital inputs and technical complexity and knowledge gap create various difficulties for the industry.
"The product segment accounted for the largest share by offering segment in the spatial genomics & transcriptomics market in 2023".
Products and services divide the spatial genomics & transcriptomics market. In 2023 the product segment held the biggest share. The growing demand for high-resolution spatial gene and protein expression data in research helps to explain the expansion of this area. The main forces behind the market expansion are the expanding uses of consumables and spatial genomics and transcriptomics in drug research and development as well as biomarketer identification. Key element driving development in this market segment is increased investments by market participants in creating various software especially for spatial analysis and introduction of new goods.
"The spatial transcriptomics technique held the highest market share of the spatial genomics and transcriptomics market by technique in 2023".
Techniques divide the spatial genomics and transcriptomics market into spatial transcriptomics and spatial genomics segments. Driven by growing acceptance of in situ sequencing technologies and more general applications in disease research, the segment of spatial transcriptomics held the biggest share of spatial genomics & transcriptomics market in 2023. Using spatial transcriptomics, one may map gene expression inside the spatial context of a tissue. Combining histology and molecular data reveals how genes are expressed in certain tissue country or region, so providing understanding of cellular organization, function, and disease progression.
"The Asia Pacific region is growing at the highest CAGR in the spatial genomics & transcriptomics market from 2024 to 2029."
The Asia Pacific is estimated to be the fastest-growing segment of the market owing to the a
increasing government efforts to rising healthcare needs, growing government investment in
biotechnology, growing demand of precision medicine, rising healthcare expenditure, growing
R&D expansion in key markets such as India, China, and Japan, and the favorable regulatory
environment in the region. However, North America held the largest share of spatial genomics & transcriptomics market in 2023.
This research report categorizes the spatial genomics & transcriptomics market by offering (products and services), by technique (spatial transcriptomics and spatial genomics), by type (service) (sample preparation services, sequencing & analytical services, and data visualization & analysis services), by application (translational research and drug discovery & development), by end user (product) (pharmaceutical & biotechnology companies, academic & research institutes, CROs & CDMOs, and clinical diagnostic laboratories), by end user (service) (pharmaceutical & biotechnology companies, academic & research institutes, and other end users), and by region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa). The scope of the report covers detailed information regarding the major factors, such as drivers, challenges, opportunities, and restraints influencing the growth of the spatial genomics & transcriptomics market. A detailed analysis of the key industry players has been done to provide insights into their business overview, product & service portfolio, key strategies such as product & service launches, collaborations, partnerships, expansions, agreements, and recent developments associated with the spatial genomics & transcriptomics market. Competitive analysis of top players and upcoming startups in the spatial genomics & transcriptomics market ecosystem is covered in this report.
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall spatial genomics & transcriptomics market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges.