Growth in demand for organic food products and rising advancements in the functional genome sector will spearhead the agrigenomics market in the forecast period, 2023-2027. According to the TechSci Research report, “Agrigenomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global agrigenomics market is anticipated to grow at a significant rate in the forecast period, 2023-2027.
The Important Factors of the Agrigenomics Market
The increasing number of DNA/RNA sequencing project grants and technological developments in the field of genomics and agriculture are the primary factors driving the demand for the global agrigenomics market. The growing expansion of the food and beverages industries, preference for organic food products, and rising investments by governments are expected to influence the market demand. The increasing population with an upsurge in demand for livestock and crops are also a key factor for increasing the growth of the agrigenomics market, globally.
However, Sub-optimized multidisciplinary research approaches and a lack of luster infrastructure may hamper the growth of the market in the forecast period.
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The global agrigenomics market is segmented into purpose, sequencer type, application, and company.
Based on purpose, the market is divided into DNA extraction & purification, DNA/RNA sequencing, genotyping, gene expression profiling, GMO/trait purity testing, and others. The genotyping segment is expected to hold a significant market share as high genotyping call accuracy lets researchers modify fine mapping cost-effectively. Genotyping is the technology that identifies small genetic variations that can lead to major differences in phenotype, including both physical differences that make us distinctive and pathological changes causing a disease. Genotyping identifies the differences in genetic complement by evaluating and comparing a DNA sequence to a reference sequence. It has a massive range of applications across basic scientific research, agriculture, and medicine.
Based on sequencer type, the market is divided into sanger sequencing, pacbio sequencers, solid sequencers, Illumina HI SEQ family, and others. The Illumina HSEQ family segment is expected to hold the largest market share in the forecast period as it is an exceptionally powerful sequencing system that can manage a variety of analysis tasks. Also, the low cost of the machine is propelling the market growth.
Based on application, the market is divided into livestock and crops. The Crops segment is projected to hold the largest share in the agrigenomics market due to stringent regulation over animal handling restricting the growth of the Livestock segment. Furthermore, emerging demand for higher output from farms is bolstering the growth of the segment.
Major operating companies operating in the global agrigenomics market are:
- Illumina, Inc.
- Thermo Fischer Scientific, Inc.
- Agilent Technologies, Inc.
- Eurofins Scientific SE
- LGC Limited
- Tecan Genomics, Inc.
- Neogen Corporation
- Galseq Srl Via Italia
- Biogenetic Services' Inc.
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“North America region dominates the market in 2021 and is expected to maintain its dominance in the coming years due to the presence of key sequencing players in the U.S. market, increasing funds in genome R&D activities by government, rising healthcare infrastructure and expenses, and rising technological advancements. Also, the increasing population and rising crop demand, are expected to propel the global agrigenomics market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Agrigenomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027, Segmented By Purpose (DNA Extraction & Purification, DNA/RNA Sequencing, Genotyping, Gene Expression Profiling, GMO/Trait Purity Testing, Others), By Sequencer Type (Sanger Sequencing, Pacbio Sequencers, Solid Sequencers, Illumina HI SEQ Family, Others), By Application (Livestock v/s Crops), By Company, and By Region”, has evaluated the future growth potential of global agrigenomics and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global agrigenomics market.
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