The spatial genomics & transcriptomics market will show rapid growth due to the emerging potential of spatial genomic analysis as a cancer diagnostic tool, and the advent of the fourth generation of sequencing.
The spatial patterns of the genome have been identified for treating several medical conditions, which has resulted in the implementation of spatial information as a diagnostic biomarker for various diseases. There is a growing demand for biomarkers, which enables differentiation of benign tumors from the malignant tumor with higher accuracy and therefore boosts the demand for spatial genomic analysis as a cancer diagnostic tool. Therefore the cumulative demand for robust cancer diagnostic solutions helps in the growth of the overall market.
There are also various developments seen in genetic instruments as well as increasing investment in genomics and transcriptomic research that are found to be important drivers of market growth. In addition, the new and start-up genomic businesses are found working to meet the growing demand for sophisticated methods to study spatial patterns through new goods.
Scope of the Report
Spatial genomics & transcriptomics is a relatively new discipline that involves the determination of high-throughput data pertaining to the organizational structure of cell content from tissue and cell specimens. The spacious genomics & transcriptomy enables researchers to see not just what is in a cell, but how the cells are organized in relation to each other. Spatial genomics & transcriptomics includes transcriptoma exploration and assortment. It has various applications, mainly in the field of molecular genetics.
Key Market Trends
Consumables Segment is Expected to Witness Healthy Growth During the Forecast Period
Consumables segment has been estimated to show a healthy growth rate due to the factors such as wide availability of reagents and kits, increased usage rate, and frequent purchase of consumables, which results in higher penetration of consumables to run the instruments. Therefore due to the elevated penetration of products and the broad accessibility of reagents and kits for conducting studies, consumables are found to grow rapidly in the future.
North America is Anticipated to Dominate the Spatial Genomics & Transcriptomics Market
North America is found dominating the market by the revenue due to the increasing adoption of solutions for spatial profiling in cancer research, coupled with a rising focus on genomics-based R&D. The increasing investment by both government and private companies in the US region also helps in the growth of the overall market. The largest share is attributed to massive investments in cancer research to address the high demand for advanced diagnostic & treatment methods in the U.S.
Asia-Pacific is expected to exhibit the fastest growth over the forecast period. Developing economies in the region are equipped with inexpensive manufacturing & operating units, thereby increasing the geographical expansion of companies operating from established regions.
There has been a presence of a considerable number of companies that are significantly contributing to market growth which include 10x Genomics, Dovetail Genomics, Illumina, S2 Genomics, NanoString Technologies, and Seven Bridges Genomic. These manufacturers are found offering technologically advanced genomics-based techniques and platforms for a better understanding of disease biology and the introduction of novel therapeutics.
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