Growth of Spatial Genomics & Transcriptomics Market Estimated at CAGR of 17% during 2023 to 2033, TMR Study

In 2022, the global Spatial Genomics & Transcriptomics Market reached US$ 360 Million. With an anticipated 17% growth from 2023 to 2033, the market is forecasted to achieve a valuation of US$ 2 Billion by the conclusion of the forecast period. Spatial Transcriptomics is poised to emerge as the top revenue-generating technique in the market, with a projected Compound Annual Growth Rate (CAGR) surpassing 16.9% from 2023 to 2033.

What are the Key Drivers Influencing Spatial Genomics & Transcriptomics Market Expansion?

Key drivers influencing market expansion include rising demands for personalized medicines, development of novel spatial analysis tools, and increased use of spatial and transcriptomics in drug discovery. Additionally, growing investments in R&D, utilization of advanced technologies, and identification of new biomarkers for diagnosis contribute to market growth.

Spatially resolved diagnostic and translational research transcriptomics and genomics-based techniques offer profitable opportunities due to significant potential in disease management. These technologies provide physicians with more comprehensive information on tumor development mechanisms, biomarker identification, and treatment strategies. They also offer quantitative gene expression data and visible DNA & RNA mapping into specific tissue regions.

In 2020, lung cancer was the leading cause of death globally, with 1.8 million deaths, followed by over 830 thousand deaths from liver cancer. Chronic diseases like diabetes, respiratory disease, and cancer are major contributors to global mortality, driving up diagnostic rates and expanding the scope for advanced diagnostics, thereby boosting the spatial genomics & transcriptomics market.

Competitive Analysis

NonoString Technologies, Inc., 10X Genomics, Illumina US, Bio-Rad Laboratories, Bio-Techne Corporation, Standard Bio Tools Inc., Genomic Vision SA, Akoya Biosciences, Inc., Danaher Corporation, Natera, Inc., PerkinElmer, Inc., and Seven Bridges Genomics.

Segmentation

By Technique

• Spatial Transcriptomics
• Spatial Genomics Analysis

By Product

• Instruments
• Consumables
• Software

By Application

• Translational Research
• Drug Discovery and Development

By End User

• Academic & Research Institutes
• Contract Research Organization
• Pharmaceutical & Biotechnology Companies
• Others

Regions Covered

North America(USA, Canada and Mexico) Europe(UK, Germany, France and the Rest of Europe) Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region) South America(Brazil, Argentina and the Rest of South America) Middle East and Africa(GCC and Rest of the Middle East and Africa)

A few of the recent developments in the market are

1. In October 2020

ReadCoor, a company that specializes in spatial transcriptomics was acquired by 10x Genomics for over US$ 350 million, for the expansion of its capabilities in the transcriptomics area.

2. In June 2021

The spatial biology company, Akoya Biosciences Inc., launched Advanced Biopharma Solutions (ABS) as a service for biopharmaceutical companies.

3. In Dec 2020

A new spatial genomics platform, the GeoMx DSP, which enables highly multiplexed spatial profiling of RNA and protein in a wide range of sample types, was launched by NanoString Technologies.

Market Trends

• Integration of spatial genomics with artificial intelligence and machine learning for data analysis
• Development of multiplexed spatial omics techniques for comprehensive molecular profiling
• Collaboration between academia and industry for research and development initiatives
• Adoption of spatial omics in drug discovery and development processes

Future Outlook

The spatial genomics and transcriptomics market is poised for exponential growth, driven by technological advancements, increasing research activities, and expanding applications across various industry verticals. As the understanding of spatially resolved molecular information deepens, these technologies are expected to play a pivotal role in advancing personalized medicine and accelerating drug discovery and development processes.

Key Market Study Points

• Market size and growth projections
• Regional analysis and growth opportunities
• Key market drivers and challenges
• Emerging trends and future outlook
• Competitive landscape and recent developments

Contact

Transparency Market Research Inc.

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