The market growth is largely driven by the expanding applications in biomarker identification and drug discovery & development, increasing adoption of spatial genomics and transcriptomics analysis among small companies and startups and increasing investment in biopharmaceutical R&D.
According to the new market research report Spatial Genomics and Transcriptomics Market is projected to reach $404 million by 2025, from USD 178 million in 2020, at a CAGR of 17.8% during the forecast period.
In 2019, the spatial transcriptomics techniques segment accounted for the largest share of the global transcriptomics market. Based on the technique, the spatial genomics and transcriptomics market is segmented into spatial transcriptomics techniques and spatial genomics analysis techniques. Growth in this market segment can be attributed to the increasing demand for and high adoption rate of in situ sequencing techniques.
10X Genomics (US), Illumina Inc. (US), and Bio-Rad Laboratories (US), NanoString Technologies Inc. (US) are the prominent players operating in the transcriptomics market. Product launches, collaborations, agreements, expansions, and acquisitions are the key growth strategies adopted by a majority of the leading players in the market to gain a competitive edge in the market.
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