Meticulous Research® has issued a comprehensive report titled "Spatial Genomics Market by Type (Genomics, Transcriptomics), Technology (Sequencing, Imaging), Application (Oncology, Neurology), Offering (Consumables, Instruments, Software), End User (Pharmaceutical & Biotechnology, CRO) - Global Forecast to 2031." The report projects that the spatial genomics and transcriptomics market will grow to $3.23 billion by 2031, expanding at a compound annual growth rate (CAGR) of 27.8% from 2024 to 2031.
The market's growth is supported by increasing use in drug discovery, advancements in Next-Generation Sequencing (NGS), and its role in cancer research and biomarker detection. The rising prevalence of cancer is also a key growth driver. However, the market faces challenges such as a lack of standardized approaches and data security concerns.
Opportunities include the adoption of personalized medicine and gene therapies, along with increased investments in spatial genomics. Challenges such as complex data analysis and slow technology adoption need to be addressed.
The spatial genomics and transcriptomics market is anticipated to reach $3.23 billion by 2031, with a CAGR of 27.8%. The growth is fueled by advancements in Next-Generation Sequencing (NGS) and the increasing application of spatial genomics in drug discovery and cancer research. Challenges such as non-standardized genomics practices and data security concerns may impact market growth. However, the expanding fields of personalized medicine and gene therapies present significant growth opportunities.
The market is segmented by offerings, types, technologies, applications, end users, and geography. The instruments segment is expected to grow rapidly due to demand for advanced devices. Resolve Biosciences’ Molecular Cartography platform is an example of advanced technology offering high-resolution gene visualization.
The transcriptomics segment is anticipated to dominate the market in 2024, driven by its role in studying gene expression and spatial relationships within tissues. The sequencing-based technology segment is expected to grow due to NGS platforms’ superior throughput and cost-efficiency.
Oncology is expected to grow the fastest among applications, due to its role in cancer research. The pharmaceutical and biotechnology companies segment is projected to lead among end users, reflecting their investment in spatial genomics for drug development.
Asia-Pacific is forecasted to grow at the highest CAGR, supported by increased research funding and expansion of research laboratories in China, India, Japan, and South Korea.
Key Players
The key players operating in the global spatial genomics & transcriptomics market are NanoString Technologies, Inc. (U.S.), 10X Genomics, Inc. (U.S.), Illumina, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), Akoya Biosciences, Inc. (U.S.), Revvity, Inc. (U.S.), S2 Genomics, Inc. (U.S.), Cantata Bio (U.S.), Vizgen Inc. (U.S.), Biospyder Technologies Inc. (U.S.), and Resolve Biosciences GmbH (Germany).
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Key questions answered in the report:
· Which are the high-growth market segments in terms of offering, type, technology, application, end user, and region/country?
· What was the historical market for spatial genomics across the globe?
· What are the market forecasts and estimates for the period 2024–2031?
· What are the major drivers, restraints, challenges, opportunities, and trends in the global spatial genomics & transcriptomics market?
· Who are the major players in the global spatial genomics & transcriptomics market?
· What is the competitive landscape, and who are the market leaders in the global spatial genomics market?
· What are the recent developments in the spatial genomics & transcriptomics market?
· What are the different strategies adopted by the major players in the spatial genomics market?
· What are the geographical trends and high-growth regions/countries?
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