Meticulous Research® has released an insightful 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.” According to the report, the global spatial genomics and transcriptomics market is projected to reach $3.23 billion by 2031, growing at a compound annual growth rate (CAGR) of 27.8% from 2024 to 2031.
Growth in the market is driven by increased applications in drug discovery, advancements in Next-Generation Sequencing (NGS), and its expanding role in cancer research and biomarker detection. The rising prevalence of cancer further supports market growth. However, the market faces challenges including a lack of standardized genomics approaches and concerns about data security.
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.
Opportunities for growth include the increasing adoption of personalized medicine and gene therapies and rising investments in spatial genomics. Challenges such as complex data analysis and slow technology adoption could impact market expansion.
The market is segmented into offerings, types, technologies, applications, end users, and geography. The instruments segment is expected to see the highest growth due to demand for advanced devices with integrated software. Resolve Biosciences’ Molecular Cartography platform is an example of advanced technology that provides high-resolution gene visualization.
The transcriptomics segment is projected to dominate the market in 2024 due to its importance in understanding gene expression within tissue contexts. The sequencing-based technology segment is anticipated to grow rapidly due to the cost-effectiveness and high throughput of NGS platforms.
Oncology is expected to be the fastest-growing application segment, driven by its use in cancer research and biomarker detection. The pharmaceutical and biotechnology companies segment is expected 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 the 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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