Spatial Genomics and Transcriptomics Market worth $404 million by 2025 - Exclusive Report by MarketsandMarkets

CHICAGO, Nov. 24, 2020 /PRNewswire/ -- According to the new market research report "Spatial Genomics and Transcriptomics Market by Technique (Spatial Transcriptomics, Spatial Genomics), Product (Instruments, Consumables, Software), Application (Drug Discovery),End User (Academic Institute, Research Institutes, CROs)-Global Forecast to 2025", published by MarketsandMarkets, the Global Spatial Genomics Market is projected to reach USD 404 million by 2025 from USD 178 million in 2020, at a CAGR of 17.8% during the forecast period.

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The market growth is largely driven by the increasing adoption of spatial genomics and transcriptomics analysis among small companies and startups, expanding applications in biomarker identification and drug discovery & development, and increasing investment in biopharmaceutical R&D.

Spatial Transcriptomics techniques accounted for the largest share of the spatial genomics market

Based on the technique, the spatial genomics and transcriptomics market is segmented into spatial transcriptomics techniques and spatial genomics analysis techniques. In 2019, the spatial transcriptomics techniques segment accounted for the largest share of the global transcriptomics market. Growth in this market segment can be attributed to the increasing demand for and high adoption rate of in situ sequencing techniques.

Academic & Research Institutes is the fastest-growing end-user segment of the market

Based on end-users, the spatial genomics market is segmented into academic & research institutes, contract research organizations (CROs), and pharmaceutical & biotechnology companies. In 2019, the academic & research institutes segment accounted for the largest share of the transcriptomics market. Market growth can largely be attributed to the increase in research intensity in this end-user segment and the availability of sufficient grants and funds for research.