WASHINGTON, Feb. 22, 2022 (GLOBE NEWSWIRE) -- Vantage Market Research’s recent analysis of the Global Spatial Genomics and Transcriptomics Market finds that increasing investment in biopharmaceutical Research and Development (R&D) is expediting market growth. Primarily driven by increasing adoption of spatial genomics and transcriptomics analysis among small companies for developing applications in biomarker identification and drug discovery, thus the total Global Spatial Genomics and Transcriptomics Market is estimated to reach USD 450.1 Million in the year 2028.
The Market stood at a revenue of USD 180.1 Million in the year 2021, and is expected to exhibit a Compound Annual Growth Rate (CAGR) of 17.1%.
Furthermore, the companies are focused on expanding their spatial transcriptomics and genomics footprints by joining into strategic alliances and partnerships is also anticipated to augment the growth of the Global Spatial Genomics and Transcriptomics Market, states Vantage Market Research, in a report, titled “Spatial Genomics and Transcriptomics Market by Technology (Spatial Transcriptomics, Spatial Genomics), by Product (Instruments, Software, Consumables), by End-User (Pharmaceutical Manufacturer, Diagnostic Customers, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)”.
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Market Dynamics:
Increasing Biomarker Identification to Fuel Global Spatial Genomics and Transcriptomics Market
Biomarker identification, along with its clinical usage, has facilitated drug development and discovery approaches for estimating the toxicity and efficacy of drugs. Besides, biomarkers for diseases like cancer, CVD, and neurological diseases play an essential role in promoting a better insight into the disease pathway and advancement. The discovery of new biomarkers in the diagnosis of different diseases, particularly cancer diagnosis, has fetched revolutionary transformations in medicine. Besides, continuous developments in sequencing technologies have increased the efficiency of biomarkers in disease detection and their utilization in disease diagnoses. The increasing demand for biomarkers is anticipated to boost the spatial genomics and transcriptomics technologies market.
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Increasing Drug Discovery & Development to Stimulate the Market Growth
The spatial genomics and transcriptomics have shifted from strictly research applications to drug discovery & development usage. Genomics and transcriptomics are primary tools for revving drug discovery & growth processes. With the rapidly growing global burden of chronic diseases like cancer and diabetes, there is a demand for progressive technologies for drug discovery and development. Various market players performing in the spatial genomics and transcriptomics market are continuously focusing on creating and introducing novel instruments and strategies for drug discovery & development. This is one of the significant factors driving the market growth.
COVID-19 Impact Analysis:
The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:
- Impact Assessment of COVID-19 Pandemic
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Quarterly Market Revenue Forecast by Asia Pacific 2020 & 2021
- Key Strategies Undertaken by Companies to Tackle COVID-19
- Long Term Dynamics
- Short Term Dynamics
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The report on Spatial Genomics and Transcriptomics Market highlights:
- Assessment of the market
- Premium Insights
- Competitive Landscape
- COVID Impact Analysis
- Historic Data, Estimates and Forecast
- Company Profiles
- Global and Regional Dynamics
Regional Analysis:
North America Dominates the Global Spatial Genomics and Transcriptomics Market
North America has dominated the Global Spatial Genomics and Transcriptomics Market in 2021 and is likely to continue the same trend during the forecast period. This is attributable to the growing adoption of these technologies and increasing investment in Research and Development (R&D) actions across the region. Furthermore, the existence of well-established and emerging market players is performing major role in the development of Spatial Genomics and Transcriptomics Market in this regional growth.
Asia Pacific is likely to witness fastest growth in the Spatial Genomics and Transcriptomics Market during the forecast period. This is attributable to the improving healthcare establishments in economies like India, and China in the region. Additionally, growing economies in the region are furnished with inexpensive manufacturing & operating units, thereby increasing the geographical development of companies performing in established regions to support the growth of the Spatial Genomics and Transcriptomics Market in near future.
List of Prominent Players in the Spatial Genomics and Transcriptomics Market:
- 10x Genomics
- SPATIAL TRANSCRIPTOMICS
- Nano String Technologies, Inc.
- Dovetail Genomics
- S2 Genomics, Inc.
Browse market data Tables and Figures spread through 150 Pages and in-depth TOC on "Spatial Genomics and Transcriptomics Market by Technology (Spatial Transcriptomics, Spatial Genomics), by Product (Instruments, Software, Consumables), by End-User (Pharmaceutical Manufacturer, Diagnostic Customers, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)" View detailed Research Report here – https://www.vantagemarketresearch.com/press-release/spatial-genomics-and-transcriptomics-market-358438
Key questions answered in the report:
- Which regional market will show the highest and rapid growth?
- Which are the top five players of the Spatial Genomics and Transcriptomics Market?
- How will the Spatial Genomics and Transcriptomics Market change in the upcoming six years?
- Which application and product will take a lion’s share of the Spatial Genomics and Transcriptomics Market?
- What is the Spatial Genomics and Transcriptomics market drivers and restrictions?
- What will be the CAGR and size of the Spatial Genomics and Transcriptomics Market throughout the forecast period?
Recent Developments:
August 2020: NanoString Technologies launched Cancer Transcriptome Atlas, a new product founded on the company’s GeoMx Digital Spatial Profiler (DSP) platform that is optimized for readout on Illumina’s next-generation sequencing (NGS) technology.
This market titled “Spatial Genomics and Transcriptomics Market” will cover exclusive information in terms of Regional Analysis, Forecast, and Quantitative Data – Units, Key Market Trends, and various others as mentioned below:
| Report Attribute | Details |
| Market Size in 2021 | USD 180.1 Million |
| Projected Market Size in 2028 | USD 450.1 Million |
| CAGR Growth Rate | CAGR of 17.1% From 2022 - 2028 |
| Base Year | 2021 |
| Historic Years | 2016 - 2020 |
| Forecast Years | 2022 - 2028 |
| Segments Covered | Technology • Spatial Transcriptomics • Spatial Genomics Product • Instruments • Software • Consumables End-User • Pharmaceutical Manufacturer • Diagnostic Customers • Others |
| Quantitative Data - Units | Revenue in USD Million/Billion and CAGR from 2022 to 2028 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
| Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
| Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
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