Spatial Genomics and Transcriptomics Market :Introduction
Spatial Genomics and Transcription Market is rapidly evolving. The market is favored by the development of spatial profiling-based solutions for visualization and analysis of tumor, tissue micro environment, tissue bio makers, and biology. The increase in potential of spatial genomics as a diagnostic tool for cancer and the increase in use of spatial information as biomarkers in various genetic diseases helps in the expansion of the market. Also, the Increasing demand for biomarkers to differentiate malignant and benign tumours and efficiently detect cancer cells boost the market revenue growth over the forecast period.
Spatial Genomics and transcriptomics are broad terms that are used to define methods which are designed to assign cell types to their specific locations across tissue samples. Spatial transcriptomics is a revolutionary technique that allows study of cell composition, physiology, and disease development in large scale details. With a rise in burden of chronic diseases, such as aggressive cancers, cardiovascular disorders, neurological disorders, and malignant tumours, it has increased the need for biomarker identification. Also, it has further simplified drug discovery and development processes with regards to evaluating drug safety and efficacy.
Market Overview
The Spatial Genomics and Transcription Market was valued at USD 178 million in 2021 and is expected to be valued at USD 777.55 million in 2030, expanding at a CAGR of 17.8% during the forecast year.
Spatial Genomics and Transcription Market growth is driven largely by the increasing adoption of spatial genomics and transcriptomics analysis among the small companies and start-ups, expanding applications in biomarker identification, and drug discovery & development.
While, lack of awareness about the techniques in the emerging countries and the high cost of instruments were the factors that were limiting the market growth. Spatial genomics and transcription Market has shifted from strictly research applications to drug discovery and development applications. Genomics and transcriptomics are the major tools that accelerate drug discovery & development processes. With the rapid increase in the global burden of chronic diseases, such as cancer and diabetes, no need for advanced technologies for drug discovery and development is needed.
One of the major factors driving the growth of the market is that the various market players operating in the spatial genomics and transcription market are constantly focusing on developing and introducing novel instruments and techniques for drug discovery and development.
It is also seen that Spatial Genomics and Transcription Market is a relatively new area of omics research. The global development of spatial transcription research has been seen concentrated in the US and other developed countries in Europe. Also, in these countries, spatial transcription research is relatively small as compared to other areas of omics research. Because of this, only limited research expertise is available in this field.
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Impact of COVID-19 on Spatial Genomics and Transcription Market
COVID-19 is an infectious disease which was caused by the novel coronavirus. COVID-19 has moved from being a regional crisis to a global pandemic. When the World Health Organization (WHO) officially declared the outbreak of the virus a pandemic, a mix of established pharmaceutical companies and small start-ups stepped forward to develop treatments and vaccines that would target the infection caused by the novel coronavirus.
The sudden outbreak of COVID-19 not only had a positive impact but also a negative impact on the pharmaceutical as well as the life science industry, globally. Certain market segments were severely affected because of the low demand for instruments, consumables, and reagents, and also due to supply chain disruptions and trade restrictions.
The impact of the pandemic and slowing global research activities also had a negative impact on the Spatial Genomics and Transcription Market. Due to the shutting down of academic and research institutes, there was a decline in the sales of consumables and reagents that were being used for spatial genomics and transcriptions analysis.
Although severely affected by the pandemic, the global spatial genomics and transcription market is projected to grow at a higher rate in the forecast year. The increased use of spatial genomics and transcription analysis for biomarker identification along with the adoption of these techniques by market players for drug discovery and development can boost the market growth in the near future.
Major Key Players for the Spatial Genomics and Transcription Market
Every market has its major key players tat help in the growth of the market. Some of the major key players of the spatial genomic and transcription market includes, 10X Genomics (US); NanoString Technologies Inc. (US); Illumina Inc. (US); Bio-Rad Technologies (US).; Natera Inc.; S2 Genomics, Inc.; Dovetail Genomics; Bio-Techne; Flagship Biosciences; Fluidigm Corporation; Seven Bridges Genomics; Horizon Discovery Group Plc.; Akoya Biosciences, Inc.
Market Segmentation
Market is segmented on the basis of Technique, Product, Application, Region and End User.
On the basis of Technique
- Spatial Transcriptomics
(Immunohistochemistry (IHC); In Situ Hybridization; Sequencing Technologies; Microscopy-based RNA Imaging; Other Spatial Transcriptomics Techniques)
- Spatial Genomics Analysis
(Fluorescence In Situ Hybridization (FISH); Sequencing Techniques; Others Spatial Genomics Analysis Techniques)
On the basis of Application
- Translational Research
- Drug Discovery and Development
On the basis of End Users
- Academic and Research Institute
- Contract Research and Organisation
- Pharmaceutical and Biotechnology Companies
On the basis of Region
- North America
- Europe
- Asia Pacific
- Middle east and Africa
- Latin America
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