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Spatial Genomics Market - Size, Trends & Industry Research
Meticulous Research® Unveils Comprehensive Global Spatial Genomics & Transcriptomics Market ForecastMeticulous Research®, a distinguished global market research company, has recently released a groundbreaking research report titled 'Spatial Genomics Market by Type (Genomics, Transcriptomics) Technology (Sequencing, Imaging) Application (Oncology, Neurology) Offering (Consumables, Instrument, Software) End User (Pharmaceutical & Biotechnology, CRO) - Global Forecast to 2031.'
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In this latest publication, Meticulous Research® forecasts that the global spatial genomics & transcriptomics market is poised to achieve a remarkable valuation of $3.23 billion by the year 2031, exhibiting an impressive Compound Annual Growth Rate (CAGR) of 27.8% from 2024 to 2031. The report outlines the key drivers fueling this growth, including the expanding applications of spatial genomics in drug discovery & development, the surge in spatial genomics utilization in cancer research, advancements in Next-generation Sequencing (NGS), the escalating use of spatial genomics in biomarker detection, and the increasing prevalence of cancer. However, challenges such as the absence of standardized genomics approaches and concerns regarding the security & privacy of genomic data are identified as potential constraints on market expansion.
The surge in the adoption of personalized medicines and gene therapies, coupled with substantial investments in spatial genomics, is anticipated to unlock significant growth opportunities for industry players. Nevertheless, hurdles like intricate data analysis and sluggish technology adoption stand as major impediments to market advancement.
Key Players
Leading the charge in the global spatial genomics & transcriptomics market are key players such as 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).
TOP 10 COMPANIES IN SPATIAL GENOMICS MARKET >> https://meticulousblog.org/top-10-companies-in-spatial-genomics-market/?utm_source=openpr&utm_medium=paid&utm_campaign=product&utm_content=24-01-2024
Spatial Genomics & Transcriptomics Market: Future Outlook
The global spatial genomics market is meticulously segmented by Offering (Instruments, Consumables, and Software & Services), Type (Genomics and Transcriptomics), Technology (Imaging Based and Sequencing Based), Application (Oncology, Neurology, and Other Applications), End User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, and Other End Users), and Geography. The report not only evaluates industry competitors but also scrutinizes their market share at both global and regional levels.
In the instruments segment, expected to exhibit the highest CAGR during the forecast period, the surge is propelled by a growing demand for instruments capable of detecting transcriptional activity, user-friendly designs, and integrated software features. Notably, Resolve Biosciences (Germany) recently introduced the Molecular Cartography platform in June 2022, a multi-analyte, highly multiplexed spatial solution with subcellular resolution, capable of visualizing hundreds of genes in a single run.
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The transcriptomics segment is projected to dominate the spatial genomics & transcriptomics market in 2024, driven by an increasing need to comprehend the relationship between gene expression and its spatial context within tissues, facilitating the study of disease pathology and normal cell development.
Within the technology landscape, the sequencing-based segment is anticipated to witness the highest CAGR. Next-generation Sequencing (NGS) platforms, offering superior sequencing capacity at reduced costs, have gained traction in genomic studies, generating massive sequencing data. NGS-based spatial transcriptomics approaches, with their higher throughput compared to imaging-based methodologies, are a driving force in the market.
The oncology segment is expected to lead the application domain with the highest CAGR, owing to the growing use of spatial genomics for oncology biomarker detection, increased demand for spatial genomics products in oncology research applications, and the rising prevalence of cancer.
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In 2024, the pharmaceutical and biotechnology companies segment is projected to hold the largest share in the spatial genomics & transcriptomics market among end users. The segment's growth is attributed to significant resource allocation by pharmaceutical and biotechnology companies to research activities. Spatial genomics has emerged as a critical tool in maintaining precision and accuracy in drug research and development, offering a detailed view of cell structure.
The research report conducts a thorough analysis of major geographies, providing comprehensive insights into North America (U.S. and Canada), Europe (Germany, France, U.K., Italy, Spain, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), Latin America, and the Middle East & Africa.
Among all regions examined, Asia-Pacific is poised to register the highest CAGR during the forecast period. The region's growth is attributed to increased research funding in the healthcare and pharmaceutical industry, a rise in research laboratories, an advancing research framework, and a growing number of research laboratories in countries such as China, India, Japan, South Korea, and others.
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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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