Molecular breeding Market to grow at 15.15% CAGR till 2026
Significant investments in biological sciences have introduced a sequencing technology and ‘Big Data’ in agri genomic research. This will drive sustainable productivity and provide solutions to the escalating challenges of feeding the global population. There are several research institutes, biotechnology companies that are investing considerably in the field of agri genomic research. Illumina, Inc. is transforming the future of agriculture through product development and collaboration with consortia. The company is investing largely in agri genomic research and developing healthier and productive livestock and crops by assisting breeders and researchers across the globe. Researchers are using next-generation sequencing technology and genotyping technologies for studying agricultural species.
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The rising consumer focus on nutritional value, continuous deployment of molecular biology research products, and increased private and government investment in agri genomics research are some of the major factors propelling the growth of the global molecular breeding market during the forecast period. Moreover, the alarming growth in the population is majorly affecting the agricultural sector of the world. This, in turn, is expected to offer investment opportunities to the global market manufacturers in the coming years.
However, the lack of a skilled workforce and high initial capital investment are expected to hamper the growth of the global molecular breeding market during the forecast period. Moreover, the limited awareness of molecular breeding in emerging and underdeveloped economies are the prime challenges for the growth of the global molecular breeding market during the forecast period.
Based on the process, the marker-assisted selection (MAS) segment is expected to dominate the market with nearly 28% share in the global molecular breeding market in 2018.
Based on the marker type, the single nucleotide polymorphism (SNP) segment accounts for the largest share in the market and is expected to grow at a CAGR of 18% during the forecast period.
Based on application, the crop breeding segment is expected to dominate the market during the forecast period.
North America accounted for nearly 42% share of the global molecular breeding market in 2018.
In January 2019, Syngenta announced a collaboration with NRGene, centering around NRGene’s GenoMAGICTM, a cloud-based big data analytics platform, which enables high-performance molecular breeding.
In December 2018, NRGene announced the expansion of licensing agreement with Bayer AG, entailing the use of NRGene’s GenoMAGIC, a cloud-based big data analytics platform, which is expected to support the company’s molecular breeding program within its Crop Science Division
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