Spatial Genomics Industry Development And Business Trends

Market growth influenced due to following factors-

• Increasing adoption of spatial genomics and transcriptomics analysis among small companies and startups.
• Expanding applications in biomarker identification and drug discovery & development.
• Increasing investment in biopharmaceutical R&D.

Global market size-

According to the new market research report Spatial Genomics Market is projected to reach $404 million by 2025, at a CAGR of 17.8% during the forecast period. 

Leading Players-

10X Genomics (US), NanoString Technologies Inc. (US), Illumina Inc. (US), and Bio-Rad Laboratories (US) are the prominent players operating in the transcriptomics market. Product launches, collaborations, agreements, expansions, and acquisitions are the key growth strategies adopted by a majority of the leading players in the market to gain a competitive edge in the market.

Top Market Segments-

Based on application, the spatial genomics market is segmented translational research and drug discovery & development. The translational research application segment accounted for the largest share of the market in 2019.

The large share of the translational research segment can be attributed to the increasing use of spatial genomics and transcriptomics to determine high-throughput data on the organizational structure of cell content from tissue and cell species.

Based on product, the global spatial genomics & transcriptomics market is categorized instruments, consumables, and software. In 2019, consumables accounted for the largest share in the global spatial genomics and transcriptomics market. The growing applications of spatial genomics and transcriptomics in various fields such as drug discovery & development and biomarker identification and the growing use of consumables are the key factors driving the market growth.

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Geographic Overview -

In 2019, North America held the largest share of 55.6% of the global market, followed by Europe. The large share of the North American regional segment can be attributed to the presence of well-established as well as emerging market players operating in the spatial genomics and transcriptomics market in this region.