Technological advancements in sequencing technologies, increasing application of spatial genomics and transcriptomics in biomarker identification and drug discovery, and increasing funding to expand R&D activities are key factors driving revenue growth of market
The global spatial genomics & transcriptomics market size is expected to reach USD 675.34 Million by 2028 at a CAGR of 18.1% over the forecast period, according to the latest report by Reports and Data. Key factors driving market revenue growth include increasing prevalence of genetic disorders and chronic conditions such as cancers, neurological disorders, and rare diseases, which have boosted need for high-resolution multiplex assays and instruments, and this is expected to further drive developments in spatial-based technologies. Increasing application of spatial genomics and transcriptomics for drug discovery and biomarker identification is also a key factor expected to drive revenue growth of market over the forecast period. Significant funding to expand R&D activities in the field of spatial-based technology is expected to support market growth going ahead.
Spatial transcriptomics covers methods specifically designed to assign cell types to their specific locations across tissue samples. It allows determination of subcellular localization of mRNA molecules. Data obtained about spatial distribution of mRNA molecules allows researchers to study cellular heterogeneity in tissues, tumors, and immune cells. Spatial-profiling based solutions allows analysis of tissue microenvironment, tumor biology, and tissues biomarkers. Spatial genomics and transcriptomics offers key insights in the fields of oncology, immunology, cell and gene therapy, histology, and embryology.
Spatial genomics and transcriptomics are novel research fields that aim to fill the knowledge gap about cellular machinery, spatial organization, differentiations, and localization that occurs at genomic and transcriptomics level within each cell and in tissues. These techniques have significant potential in managing chronic and rare diseases and rising burden of chronic disease such as cancers and diabetes across the globe have boosted their application in drug discovery and development. This is expected to fuel revenue growth of market over the forecast period. However, lack of skilled professionals and low awareness about advanced spatial-based technologies can restrain market growth to a significant extent over the forecast period.
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Technological advancements and rapid digitization have streamlined the daily operations of the pharmaceutical industry. Increasing spending on medicine due to growing geriatric populace, rising incidence of chronic diseases, increasing number of product launches, and growing number of R&D activities are some key factors contributing to revenue growth of the market. Increasing focus on patient engagement solutions, rising focus to cater to growing unmet clinical demand, adoption of advanced technologies to streamline workflows in healthcare sector, and availability of skilled healthcare professionals has been positively impacting the pharma & healthcare industry. The emergence of COVID-19 pandemic has further increased focus on healthcare facilities, teleconsultation and telemedicine, and increased burden on the healthcare industry compelling governments and companies to invest heavily to cater to the growing global demand.
Some Key Highlights from the Report:
Spatial transcriptomics segment revenue growth is expected to expand steadily over the forecast period owing to increasing transcriptomic studies of single cells for drug discovery and development and increasing demand for advanced sequencing techniques.
Consumables segment is expected to register significant revenue growth over the forecast period, attributable to increasing availability of a wide range of products, high penetration rate of consumable, and rising expenditure on reagents and kits for efficient functioning of instruments.
Translational research segment is expected to account for a significant revenue share in the global market during the forecast period owing to increasing application of spatial genomics and transcriptomics in translational research to understand high-throughput data of cells and tissues to understand disease pathology and physiology.
Academic & research institute segment is expected to register significant revenue CAGR over the forecast period owing to increasing adoption of spatial genomic and transcriptomic analysis in academic institutions, increasing focus on diseases pathology, and availability of funding and grants for genomic and transcriptomic research.
North America is expected to account for largest revenue share contribution to the global market over the forecast period, attributable to increasing investment to advance genomic R&D initiatives, rising focus on disease pathology research, and technological advancements in biomedical techniques and sequencing technologies. Robust presence of key companies in the region is also expected to support market growth going ahead.
Key companies operating in the market include 10X Genomics, NanoString Technologies Inc., Illumina Inc., Bio-Rad Laboratories, Natera Inc., S2 Genomics, Inc., Dovetail Genomics, Bio-Techne, Flagship Biosciences, Fluidigm Corporation, Seven Bridges Genomics, Horizon Discovery Group Plc., and Akoya Biosciences, Inc., among others.
In April 2021, Vizgen, which is a U.S-based biotech company that develops solutions for next-generation spatially resolved, single cell transcriptomics, closed Series B funding round at USD 37 Million, which will be used to accelerate infrastructure development for the commercial launch of MERSCOPE Platform to advance spatial genomics research. The platform offers insights into a broad range of tissue-based research and translation medicine in neurology, oncology, and immunology, among others.
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For the purpose of this report, Reports and Data has segmented the global spatial genomics & transcriptomics market based on technique, product application, end-use industry, and region:
Technique Outlook (Revenue, USD Million; 2018-2028)
Fluorescence In Situ Hybridization (FISH)
Others Spatial Genomics Analysis Techniques
In Situ Hybridization
Microscopy-based RNA Imaging
Other Spatial Transcriptomics Techniques
Product Outlook (Revenue, USD Million; 2018-2028)
Application Outlook (Revenue, USD Million; 2018-2028)
Drug Discovery & Development
End-user Outlook (Revenue, USD Million; 2018-2028)
Academic & Research Institutions
Contract Research Organizations (CROs)
Pharmaceutical and Biotech Companies
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The report discusses in detail the top companies in the market along with their recent initiatives such as mergers and acquisitions, joint venture, partnerships, corporate and government deals, collaborations, and brand promotions and product launches among others. The report further discusses the companies’ initiatives and investments in key regions across the globe such as North America, Europe, Latin America, Asia Pacific, and Middle East & Africa.
Region analysis Covers:
North America (U.S.A., Canada, Mexico)
Europe (U.K., Italy, Germany, France, Rest of Europe)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
In conclusion, the report offers a comprehensive analysis of the factors expected to drive the global Spatial Genomics & Transcriptomics market growth over the forecast period of 2021-2028. The report is an all-inclusive document covering the market landscape and a futuristic perspective on its growth and progress. The report also provides an analysis of the entry-level driving and restraining factors for the new entrants contributing to the market. The report also offers strategic recommendations to the established players as well as new entrants to help them gain a strong foothold in the market.
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