Meticulous Research® has released a new report titled "Spatial Genomics Market by Type (Genomics, Transcriptomics), Technology (Sequencing, Imaging), Application (Oncology, Neurology), Offering (Consumables, Instruments, Software), End User (Pharmaceutical Biotechnology, CRO) - Global Forecast to 2031." The global spatial genomics and transcriptomics market is projected to reach $3.23 billion by 2031, with a compound annual growth rate (CAGR) of 27.8% from 2024 to 2031.
The market’s expansion is driven by increasing applications of spatial genomics in drug discovery, advancements in Next-Generation Sequencing (NGS), and its role in cancer research and biomarker detection. The rising prevalence of cancer is also contributing to market growth. However, issues such as a lack of standardized genomics approaches and concerns about data security may restrain growth.
Projected to grow to $3.23 billion by 2031, the spatial genomics and transcriptomics market is expanding at a CAGR of 27.8%. The market is driven by advancements in NGS technology and the rising use of spatial genomics in oncology and biomarker detection. Despite these drivers, the market faces challenges like a lack of standardization and data security issues. Opportunities for growth include increased adoption of personalized medicine and gene therapies, supported by rising investments.
Opportunities for market growth include the rising adoption of personalized medicine and gene therapies, as well as increased investments in spatial genomics. Challenges such as complex data analysis and slow technology adoption remain significant
The market is segmented by offerings, types, technologies, applications, end users, and geography. Among offerings, the instruments segment is expected to grow at the highest rate due to demand for advanced, integrated devices. For instance, Resolve Biosciences’ Molecular Cartography platform enables high-resolution gene visualization.
The transcriptomics segment is projected to dominate in 2024, driven by its importance in understanding gene expression within tissue contexts. The sequencing-based technology segment is anticipated to grow rapidly, thanks to the cost-efficiency and high throughput of NGS platforms.
In terms of applications, oncology is expected to experience the highest growth rate, driven by its use in cancer research and biomarker detection. The pharmaceutical and biotechnology companies segment is projected to lead among end users, due to their significant investment in research.
Asia-Pacific is forecasted to grow at the highest CAGR, driven by increased research funding and the expansion of research laboratories in China, India, Japan, and South Korea.
Key Players
The key players operating in the global spatial genomics transcriptomics market are 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).
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Key questions answered in the report:
- Which are the high-growth market segments in terms of offering, type, technology, application, end user, and region/country?
- What was the historical market for spatial genomics across the globe?
- What are the market forecasts and estimates for the period 2024–2031?
- What are the major drivers, restraints, challenges, opportunities, and trends in the global spatial genomics transcriptomics market?
- Who are the major players in the global spatial genomics transcriptomics market?
- What is the competitive landscape, and who are the market leaders in the global spatial genomics market?
- What are the recent developments in the spatial genomics transcriptomics market?
- What are the different strategies adopted by the major players in the spatial genomics market?
- What are the geographical trends and high-growth regions/countries?
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