(I-BusinessNews.Com, March 10, 2021 ) According to the market research report the spatial genomics market is projected to reach USD 404 million by 2025 from USD 178 million in 2020, at a CAGR of 17.8% during the forecast period.
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Market growth is largely driven by the increasing adoption of spatial genomics and transcriptomics analysis among small companies and startups, expanding applications in biomarker identification and drug discovery & development, and increasing investment in biopharmaceutical R&D. On the other hand, lack of awareness about these techniques in the emerging countries and the high cost of instruments are some factors limiting the market growth.
The prominent players operating in the spatial genomics market are 10X Genomics (US), NanoString Technologies Inc. (US), Illumina Inc. (US), and Bio-Rad Laboratories (US).
Illumina Inc. (US) held a leading position in the global spatial genomics and transcriptomics market, with a share of about 12–17%. The company has a strong product portfolio for RNA sequencing and has maintained its leading position through a strong presence across North America, Europe, Asia Pacific, and the Rest of the World. The company offers exhaustive products for targeted RNA sequencing, mRNA sequencing, total RNA-Seq, small RNA sequencing, low-quality and FFPE RNA-Seq, ua-low RNA input sequencing, and ribosome profiling. The company focuses on new product launches and acquisitions as major business development strategies. In 2018, Illumina acquired Edico Genome (US), a leading provider of data analysis acceleration solutions for next-generation sequencing (NGS). This acquisition broadened Illumina’s product portfolio and strengthened its brand presence globally.
10X genomics held the second-largest position in the spatial genomics market in 2019. The company focuses on strengthening its market position by adopting organic and inorganic strategies, such as product launches and mergers & acquisitions. The company offers the Visium Spatial platform and consumables such as Visium Spatial Gene Expression assays and Visium mRNA arrays to measure spatial gene expression patterns using high-density DNA barcode sequencing arrays. The company acquired Spatial Transcriptomics (Sweden) in 2018 and entered the spatial genomics and transcriptomics market.
NanoString Technologies Inc., held a dominant share in the global spatial genomics and transcriptomics market. The company is engaged in the development, manufacturing, and commercialization of instruments, consumables, and services for profiling the activity of genes and proteins simultaneously from a single tissue sample. In 2019, the company launched the GeoMx Digital Spatial Profiler, enabling highly multiplexed spatial profiling of RNA and protein targets in various sample types, including FFPE tissue sections. The company held a substantial market share in 2019 due to its brand presence and product offerings in the spatial genomics and transcriptomics market.
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The Asia Pacific spatial genomics market is expected to witness the highest growth during the forecast period, primarily due to the growing biopharmaceutical industry, increasing life science research, rising investments by public and private funders, and the growing number of CROs and CMOs in several APAC countries.
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