Spatial Genomics and Transcriptomics Market to Reach $667.51 Million by 2031 Fuelled by Innovations and Increasing Adoption

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Spatial Genomics & Transcriptomics Market- (By Technique (Spatial Transcriptomics (Immunohistochemistry (IHC), In Situ Hybridization, Sequencing Techniques (Microdissection-based sequencing, In situ sequencing), Microscopy based RNA imaging, Other Spatial Transcriptomics Techniques), Spatial Genomics Analysis (FLUORESCENCE In Situ Hybridization, Sequencing Techniques, Other Spatial Genomics Analysis Techniques)), By Product (Instruments, Consumables, Software), By Application (Translational Research, Drug Discovery and Development), By End-User (Academic and Research Institutes, Contract Research Organization, Pharmaceutical and Biotechnology Companies)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the Global Spatial Genomics & Transcriptomics Market is valued at US$ 238.84 Mn in 2022, and it is expected to reach US$ 667.51 Mn by 2031, with a CAGR of 12.3% during a forecast period of 2023-2031.

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Transcriptomics focuses on analyzing gene expression patterns, while genomics provides a comprehensive overview of the entire set of genetic instructions encoded in DNA. The integrated study of genes and their corresponding mRNAs is referred to as genomics and transcriptomics. Emerging technologies, such as spatial genomics and transcriptomics, combine genomic analysis with tissue biology, offering a new dimension of insight by mapping the organization and expression of genes and transcripts within the spatial context of tissues and cells. These advancements present new research opportunities in areas such as developmental biology, disease studies, and drug discovery.

The expansion of the spatial genomics and transcriptomics market is being driven by the growing adoption of these technologies across various applications, including stem cell and cancer research, tissue-specific gene expression analysis, embryogenesis, in vitro fertilization, and the characterization of non-coding RNAs. Additionally, the increasing prevalence of genetic disorders, the application of spatial genomics and transcriptomics in identifying disease markers and therapeutic targets, and the rising demand for personalized medicine are further fueling the market's growth.

List of Prominent Players in the Spatial Genomics & Transcriptomics Market:
• 10x Genomics
• NanoString Technologies
• Illumina
• Fluidigm Corporation
• PerkinElmer
• Akoya Biosciences (formerly known as CytoViva)
• Spatial Transcriptomics
• Dovetail Genomics (Part of Illumina)
• S2 Genomics
• Visiopharm
• MGI Tech Co. Ltd.
• CARTANA
• RareCyte
• Horizon Discovery Group
• IONpath

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Market Dynamics:
Drivers:
Spatial genomics and transcriptomics have evolved from being predominantly research-oriented tools to essential components in drug discovery and development. These technologies are proving instrumental in expediting the drug development process. Presently, spatial approaches are being utilized to enhance understanding of infectious diseases, with growing applications in neurodegenerative disorders and cancer. A significant unmet need in oncology is the identification of predictive biomarkers for treatment response, a gap that spatial genomics and transcriptomics are well-positioned to fill. These biomarkers are pivotal in the development of immunotherapies by improving the understanding of the tumor microenvironment.

Challenges:
The lack of comprehensive knowledge about the underlying scientific principles, coupled with difficulties in selecting suitable techniques, can lead to increased direct and indirect costs, as well as heightened time and workload demands on researchers and service providers. Consequently, the development, validation, and operation of these technologies require highly specialized expertise. Furthermore, the complexity and cost of transcriptomic technologies, combined with uncertainties surrounding the interpretation of research results, have hindered widespread adoption and limited the dissemination of knowledge in transcriptomics research.

Regional Trends:
The North American market for spatial genomics and transcriptomics is expected to hold a significant share of revenue and experience rapid growth in the near future. This growth is primarily driven by the increasing application of spatial profiling technologies in cancer research, as well as a growing focus on genomics-based research and development. Moreover, substantial investments from both government and private sectors are further supporting the market's expansion. This trend is particularly evident in the United States, where there is strong demand for innovative diagnostic and treatment technologies in oncology. In the Asia-Pacific region, there is a strong emphasis on healthcare and biomedical research, with spatial genomics and transcriptomics being leveraged to investigate diseases, biomarkers, and personalized medicine strategies.

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Recent Developments:
• In May 2023, 10x Genomic Launched the Visium CytAssist Gene and Protein Expression Assay. Visium CytAssist Gene and Protein Expression made it possible for researchers to map together highly multiplexed protein data and whole transcriptome RNA data from the same formalin-fixed, paraffin-embedded (FFPE) tissue cut at high spatial resolution.
• In April 2023, Bio-Techne and Lunaphore announced a collaboration to create the world's first automated spatial omics multi-workflow. The technology will be built to provide complete panel design flexibility.

Segmentation of Spatial Genomics & Transcriptomics Market-
By Technique-
• Spatial Transcriptomics
o Immunohistochemistry (IHC)
o In Situ Hybridization
o Sequencing Techniques
 Microdissection-based sequencing
 In situ sequencing
o Microscopy-based RNA imaging
o Other Spatial Transcriptomics Techniques
• Spatial Genomics Analysis
o FLUORESCENCE In Situ Hybridization
o Sequencing Techniques
o Other Spatial Genomics Analysis Techniques
By Product-
• Instruments
• Consumables
• Software
By Application-
• Translational Research
• Drug Discovery and Development
By End-User-
• Academic and Research Institutes
• Contract Research Organization
• Pharmaceutical and Biotechnology Companies
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa

Read Overview Report- https://www.insightaceanalytic.com/report/spatial-genomics--transcriptomics-market/2023

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This release was published on openPR.