According to the new market research report the global spatial genomics market is projected to reach USD 404 million by 2025 from USD 178 million in 2020, at a CAGR of 17.8% during the forecast period.
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The
major factors driving the growth of the spatial genomics and
transcriptomics market are the increasing adoption of spatial genomics
and transcriptomics techniques for drug discovery & development and
the increasing R&D investments and public-private funding.
Additionally, the introduction of technologically advanced instruments
for spatial genomics analysis is also boosting the market growth.
However, the high capital investments associated with spatial genomics
and transcriptomics are a major factor restraining market growth.
Spatial
genomics & transcriptomics market is categorized into major four
product categories, techniques, product, application and end user. Among
the techniques, spatial transcriptomics techniques segment is expected
to grow at the highest CAGR during the forecast period. Growth in this
market segmentis attributed to the increasing demand for and high
adoption rate of in situ sequencing techniques.
On the basis of
technique, the spatial genomics market is segmented into spatial
transcriptomics techniques and spatial genomics analysis techniques. The
spatial transcriptomics techniques segment is further sub-segmented
into immunohistochemistry (IHC), in situ hybridization, sequencing
technologies, microscopy-based RNA imaging, and other spatial
transcriptomics techniques. Among these, immunohistochemistry segment
held a dominant share owing to emergence of multiplex
immunohistochemistry/ immunofluorescence (mIHC/IF).
Furthermore,
spatial genomics analysis technique segment is further sub-segmented
into into fluorescence in situ hybridization (FISH), sequencing
techniques, and other spatial genomics analysis techniques. The
increasing demand for new biomarkers for diagnosis and personalized
medicine is a major factor boosting the demand for spatial genomics
analysis as a cancer diagnostic tool.
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.
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
end users, the spatial genomics market is segmented into into academic
& research institutes, contract research organizations (CROs), and
pharmaceutical & biotechnology companies. In 2019, the academic
& research institutes segment accounted for the largest share of the
spatial genomics and transcriptomics market. Market growth can largely
be attributed to the increase in research intensity in this end-user
segment and the availability of sufficient grants and funds for
research.
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The
Asia Pacific spatial genomics market is expected to witness the highest
growth during the forecast period, primarily due to the growing
biopharmaceutical industry, increasing life science research, rising
investments by public and private funders, and the growing number of
CROs and CMOs in several APAC countries.
