APAC Spatial Genomics & Transcriptomics Market worth $152 million by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Jan. 6, 2023 /PRNewswire/ -- APAC Spatial Genomics & Transcriptomics Market is projected to reach USD 152 million by 2027 from USD 64 million in 2022, at a CAGR of 18.9% during the forecast period according to a new report by MarketsandMarkets™. 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, introducing technologically advanced instruments for spatial genomics analysis boosts the market growth.

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APAC Spatial Genomics & Transcriptomics Market Scope:

Spatial Transcriptomics Techniques accounted for the largest share of the spatial genomics & transcriptomics market

Based on the technique, the spatial genomics and transcriptomics market is segmented into spatial transcriptomics techniques and spatial genomics analysis techniques. In 2021, the spatial transcriptomics techniques segment accounted for the largest share of the Asia Pacific spatial genomics and transcriptomics market. Growth in this market segment can be attributed to the high adoption of spatial transcriptomics in drug discovery and development, introduction of novel products, increasing R&D investments and public-private funding.

Consumables is the fastest-growing product segment of the spatial genomics & transcriptomics market

Based on product, the spatial genomics and transcriptomics market is segmented into consumables, instruments, and software. In 2021, the consumables segment accounted for the fastest-growing share of the product segment of spatial genomics and transcriptomics market. Market growth can largely be attributed to the growing applications of spatial genomics and transcriptomics in drug discovery & development and biomarker identification and the growing use of consumables.

"India: The fastest-growing country in the spatial genomics & transcriptomics market."

The Indian market is projected to grow at the highest CAGR during the forecast period, mainly due to the growing biopharmaceutical industry, collaborations between hospitals and diagnostic centers for laboratory services, and initiatives undertaken by the government.

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APAC Spatial Genomics & Transcriptomics Market Dynamics:

Drivers:

1. Reduced cost of next-generation sequencing
2. Increasing adoption of spatial genomics and transcriptomics in drug discovery and development

Restraints:

1. High capital investments

Opportunities:

1. Increasing demand for single-cell analysis

Challenges:

1. Analytical limitations associated with spatial techniques

Key Market Players:

The market for Asia Pacific spatial genomics & transcriptomics is highly consolidated, with key players strategizing to capture the market. Prominent players in the Asia Pacific spatial genomics and transcriptomics market are NanoString Technologies, Inc. (US), 10X Genomics (US), Illumina (US), Bio-Rad Laboratories (US), Bio-Techne Corporation (US), Standard BioTools Inc. (US), Akoya Biosciences, Inc. (US), PerkinElmer, Inc. (US), S2 Genomics, Inc. (US), Cantata Bio (US), Vizgen Corporation (US), BGI (China), Miltenyi Biotec (Germany), Bruker (US), PerkinElmer Inc. (US), and Novogene Co., Ltd. (China).

Recent Developments:

• In 2022, NanoString and Abcam announced an agreement to co-market Abcam antibodies for NanoString's high-plex spatial multiomics solutions.
• In 2022, 10x Genomics announced the first commercial shipments of its Xenium platform for in situ analysis. Xenium is the next generation of targeted spatial profiling of genes and proteins at subcellular resolution.
• In 2022, Illumina and AstraZeneca announced a strategic research collaboration to accelerate drug target discovery by combining their strengths in AI-based genome interpretation and genomic analysis techniques with industry expertise.

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