REDDING, Calif., May 9, 2024 /PRNewswire/ — According to a new market research report titled, ‘Spatial Genomics Market by Type (Genomics, Transcriptomics) Technology (Sequencing, Imaging) Application (Oncology, Neurology) Offering (Consumables, Instrument, Software) End User (Pharmaceutical & Biotechnology, CRO)—Global Forecast to 2031.’, published by Meticulous Research®, the spatial genomics & transcriptomics market is projected to reach $3.23 billion by 2031 at a CAGR of 27.8% from 2024 to 2031.
Download Sample Report- https://www.meticulousresearch.com/download-sample-report/cp_id=5763
Spatial genomics involves exploring genomics (comprising total DNA and RNA), transcriptomics (RNA transcripts), and epigenomics (molecular compounds) profiling methods to acquire information within a spatial context conducted within intact tissue. This approach aids in establishing a molecular link between genotypes and phenotypes. The significance of spatial genomics arises from the intricate three-dimensional structure of the human body, which plays a crucial role in our molecular physiology. To gain a comprehensive understanding of genomics, studying it in a spatial context becomes essential. Consequently, there is a growing demand for spatial techniques in genomics research.
The growth of the spatial genomics & transcriptomics market is driven by the increasing applications of spatial genomics in drug discovery & development, the growing use of spatial genomics in cancer research, advancements in Next-generation Sequencing (NGS), the increasing use of spatial genomics in biomarker detection, and the rising prevalence of cancer. However, the lack of standardized approaches in genomics and concerns over the security & privacy of genomic data restrain the growth of this market.
Furthermore, the rising adoption of personalized medicines and gene therapies and increasing investments in spatial genomics are expected to generate growth opportunities for the players operating in this market. However, complexities in data analysis and slow technology adoption are major challenges impacting market growth.
Rising Adoption of Personalized Medicines Generating Growth Opportunities for Market Players
Personalized/precision medicine uses an individual’s genomic information to offer targeted treatments. Spatial genomics is used for the genetic profiling of tumors to identify targetable mutations and gain insights into intercellular communication and the visualization of microanatomical structures in tumors, which drives the utilization of the technology in precision medicine. Spatial genomics approaches are used to identify changes in gene expression, genetic variations, or epigenetic modifications associated with a particular disease or condition, which makes it useful in the development of personalized medicines.
Additionally, spatial genomics can help identify potential biomarkers and signaling pathways to enable diagnosis, prognosis evaluation, targeted therapies, early detection, and noninvasive monitoring. Spatial transcriptomics is an important aspect of personalized medicine as it provides a cell or tissue-specific spatial context for extending, interpreting, and understanding the information captured from multiple biomarkers, which is important in guiding treatment decisions in personalized medicine.
Get a Glimpse Inside: Request Sample Pages- https://www.meticulousresearch.com/request-sample-report/cp_id=5763
In the case of rare genetic disorders, personalized medicine approaches help identify specific genetic mutations causing a condition and enable the designing of therapies to correct or mitigate their effects. The key players in this market are partnering to develop advanced solutions to aid the development of precision therapeutics. For instance, in January 2023, Akoya Biosciences (U.S.) partnered with Agilent Technologies, Inc. (U.S.) to develop chromogenic and immunofluorescent multiplex assays that include spatial analysis for biopharma companies advancing precision cancer therapeutics.
The key players operating in the 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).
The global spatial genomics market is segmented by offering, type, technology, application, and end user. The study also evaluates industry competitors and analyzes their market share at global and regional levels.
Among all offerings studied in this report, in 2024, the instruments segment is expected to account for the largest share of 56% of the spatial genomics market. However, the instruments segment is expected to grow at the highest CAGR during the forecast period. Technological advancements in instruments have led to full automation, high-throughput analyses, and inbuilt software interfaces for easy operation. Additionally, key players are introducing advanced instruments to fulfill researchers’ requirements, supporting market growth. For instance, in January 2022, Akoya Biosciences, Inc. (U.S.) launched the PhenoCycler-Fusion instrument, which offers a high-throughput workflow at sub-cellular resolution for 100+ markers (either RNA or protein biomarkers).
Among all types studied in this report, in 2024, the transcriptomics segment is expected to account for the largest share of 82% of the spatial genomics market. Increasing use of spatial transcriptomics by end users as it provides insights about biological interactions at the cellular level to gain insights into complex tissues, such as tumor microenvironments. Additionally, the market players are launching new products in spatial transcriptomics, supporting the segment’s market growth. For instance, in February 2023, Curio Bioscience (U.S.) launched a Curio Seeker, the high-resolution mapping kit for whole transcriptomics. Curio Seeker enables laboratories to generate whole-transcriptome spatial data from tissue samples in an easy-to-use workflow.
Have Specific Research Needs? Request a Customized Report-
https://www.meticulousresearch.com/request-customization/cp_id=5763
Among all technologies studied in this report, the sequencing-based segment is expected to grow at the highest CAGR of 31% during the forecast period. Declining costs of genome sequencing, technological advancements in sequencing, increasing pharmaceutical R&D expenditure, and the surge in genome mapping programs are driving the market growth. Additionally, NGS-based spatial transcriptomics approaches ensure high throughput compared to imaging-based methodologies as the entire transcript information is detected and massively parallel-processed, driving the market growth.
Among all applications studied in this report, the oncology segment is expected to grow at the highest CAGR during the forecast period. The increasing use of spatial transcriptomics products for oncology research, increasing prevalence of cancer, and growing focus on cancer research are driving the market growth. Additionally, researchers are using spatial genomics platforms to identify oncology biomarkers and gain information on oncology biomarkers for the development of cancer treatment is driving the market.
Among all end users studied in this report, in 2024, the pharmaceutical and biotechnology companies segment is expected to account for the largest share of 58% of the spatial genomics & transcriptomics market. The largest share of this segment is attributed to the increasing demand for new drugs and therapies, leading to extensive research and development activities, rising funding and investments in the pharmaceutical and biotech industry, and increasing healthcare expenditure. Furthermore, the pharmaceutical and biotechnology industries constantly strive to develop new drugs and therapies to address medical needs, further driving market growth.
Geographically, in 2024, North America is expected to account for the largest share of 46% of the spatial genomics market. The North America spatial genomics market is estimated to be worth USD 267.5 million in 2024. The region’s large share is attributed to the high R&D expenditure, high prevalence of chronic diseases, growth in the pharmaceuticals industry, and large number of research laboratories. Additionally, projects like The Cancer Genome Atlas (TCGA) have been conducted in the region, leading to the development of targeted therapies and personalized treatment approaches leading to the largest share of the region.
The report also includes an extensive assessment of the key strategic developments of leading market participants in the industry over the past years (2020–2023). In the last couple of years, the global spatial genomics & transcriptomics market witnessed several strategic developments.
Browse the In-depth Report- https://www.meticulousresearch.com/product/spatial-genomics-market-5763
Scope of the Report:
Spatial Genomics Market Assessment, by Offering
- Instruments
- Consumables
- Software & Services
Spatial Genomics Market Assessment, by Type
- Transcriptomics
- Genomics
Spatial Genomics Market Assessment, by Technology
- Imaging Based
- Sequencing Based
Spatial Genomics Market Assessment, by Application
- Oncology
- Neurology
- Other Applications
Note: Other applications consist of infectious diseases and immunology.
Spatial Genomics Market Assessment, by End User
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
- Other End Users
Note: Other end users include academic institutes & research centers and agriculture companies.
Spatial Genomics Market Assessment, by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Middle East & Africa
Unlock Opportunities: Buy Now- https://www.meticulousresearch.com/Checkout/82840788
Related Reports:
Genomics Market by Offering (Systems, Consumables, Software, Services), Technology (Sequencing, Microarray, PCR), Application (Diagnostics, Life Science Research), End User (Pharmaceutical Companies, Hospitals, Academic Institutes, CRO) – Global Forecast to 2030
Molecular Diagnostics Market by Product (Reagent & Kits, Systems, Software), Test Type (Lab, PoC), Technology (PCR, ISH, INAAT, Sequencing, Microarray), Application (Infectious Diseases, Oncology), End User (Hospital, Diagnostic Lab) – Global Forecast to 2030
Next Generation Sequencing (NGS) Market by Offering (Kits [Library Prep, QC, DNA Extraction], System) Type (Genome, Exome, Targeted) Application (Reproductive, Oncology, Infectious) Technology (SBS, Nanopore, Nanoball, SMRT Seq) – Global Forecast to 2030
Related Blogs:
Spatial Genomics & Transcriptomics: The Emerging Molecular Profiling Method
Top 10 Companies in Spatial Genomics Market
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact:
Mr. Khushal Bombe
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, U.S.
USA: +1-646-781-8004
Europe : +44-203-868-8738
APAC: +91 744-7780008
Email- [email protected]
Visit Our Website: https://www.meticulousresearch.com/
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Content Source: https://www.meticulousresearch.com/pressrelease/998/spatial-genomics-market-2031
Logo: https://mma.prnewswire.com/media/1757980/Meticulous_Research_Logo_1.jpg
SOURCE Meticulous Market Research Pvt. Ltd.
