Spatial Genomics and Transcriptomics Market worth $800 million by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Dec. 20, 2022 /PRNewswire/ -- Spatial Genomics and Transcriptomics Market is projected to grow from USD 355 million in 2022 to USD 800 million by 2027 at a CAGR of 17.6% 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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Spatial Genomics and 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 global 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 largest-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 largest 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.

North America accounted for the largest share of the spatial genomics & transcriptomics market

North America held the largest share in the global market, followed by Europe. The large share of the North American regional segment can be attributed to the rising focus on drug discovery & development, attributed to the growing incidence of chronic diseases and genetic diseases and the rapidly growing aging population, also supports the use of spatial genomics and transcriptomics operating in the spatial genomics and transcriptomics market in this region.

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Spatial Genomics and Transcriptomics Market Dynamics:

Drivers:

1. Increasing adoption of spatial genomics & transcriptomics in drug discovery & development
2. Introduction of novel products
3. Increasing R&D investments and public-private funding

Restraints:

1. High capital investments

Opportunities:

1. Increasing use of spatial omics for biomarker identification

Challenges:

1. Dearth of skilled professionals

Key Market Players:

The spatial genomics & transcriptomics market is consolidated in nature with prominent players in the spatial genomics & transcriptomics market include NanoString Technologies, Inc. (US), 10X Genomics (US), Illumina (US), Bio-Rad Laboratories (US), Bio-Techne Corporation (US), Standard BioTools Inc. (US), Genomic Vision SA (France), Akoya Biosciences, Inc. (US), Danaher Corporation (US), Natera, Inc. (US), PerkinElmer, Inc. (US), Seven Bridges Genomics (US), S2 Genomics, Inc. (US), Cantata Bio (US), Vizgen Corporation (US), BioSpyder Technologies Inc. (US), Optical Biosystems Inc. (US), Miltenyi Biotec (Germany), Ultivue Inc. (US), Lunaphore Technologies SA (Switzerland), Rebus Biosystems LLC (US), Resolve Biosciences (Germany), Singular Genomics, Inc. (US), and Veracyte (US).

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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