Agrigenomics Market Share, Industry Growth, Trend, Drivers, Challenges, Key Companies By 2027

Precision Business Insights published a research report on “Global Agrigenomics Market By sequencing method, (PCR based, Hybridization-based, Whole genome-based, Restriction digest, others) by services, (DNA fingerprinting, Genotyping, Gene expression profiling, Trait purity analysis, Genetic purity assessment, others) and Geography- Global/Region/Country Forecast to 2027”.

The global agrigenomics market was valued USD 3.1 billion in the year 2020 and anticipated to value at USD 5.85 billion till 2027 witnessing a CAGR rate of 9.5% during the forecast period 2021-2027.

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Growing R&D Activities to bring Novel Tests will bolster the Global Agrigenomics Market
Agrigenomics refer to the study about genetic makeup and their role in the development of plants and crops. Next-generation sequencing and the function of gene expression has a significant place in agrigenomics. Such technologies hugely aid to understand the disease resistance, plant evolution, pest management and product yield. Furthermore, targeted sequencing, DNA/RNA sequencing, DNA extraction and purification and genotyping are some of the other technologies included in agrigenomics testing.

There are several factors projected to foster the agrigenomics market growth over the forecast duration are technological developments in the agrigenomics like post-sequencing analysis techniques, growing funding from both public as well as private segments, government initiatives to enhance the crop yield and growing research and development to innovate novel tests into the market. Agrigenomics market is experiencing significant CAGR rate due to the initiative taken by the government to augment the crop yield. Increase in product portfolio, mergers and acquisitions adopted by the industries contribute towards increasing their profits in the business. Moreover, trends in the market are novel advancements like automation in genomic studies. But, high price of testing, strict rule for genetic test approvals and dearth of expert researchers can hinder the market growth.

Agrigenomics Market – Geographical Analysis
On the basis of geographical analysis, agrigenomics market is categorized into several major regions such as North America, Middle East, Latin America, Europe, Africa and Asia Pacific. North America market is experiencing significant growth which is fuelled by government support for undertaking advanced sequencing techniques and growing inclination towards improving crop yield. For example, National Institute of Food and Agriculture and Department of Energy of USDA made an investment of USD 10 Mn in May 2016 for the production of biofuels and effective feedstock improvements. Europe market is impelled by growing agriculture production in the region, increasing adoption of new technologies in agrigenomics and partnership between industries to develop new techniques. Partnership between research institutes and market players and huge government investment in agrigenomics in economies such as Japan and China of Asia Pacific region will drive the growth of Asia Pacific agrigenomics market.

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Competitive Analysis
A few of the major players working in the global agrigenomics market include Eurofins Scientific SE (Luxembourg), LGC Limited (U.K.), Affimetrix, Inc. (Thermo Fisher Scientific) (U.S.), Illumina, Inc. (U.S.), Zoetis Services LLC. (U.S.), Biogenetic Services’ Inc. (U.S.), Agrigenomics’ Inc. (U.S.), and Galseq SRL VIA Italia (Italy).

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