Market Size of Spatial Genomics and Transcriptomics Industry
| Study Period | 2021 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 8.20 % |
| Fastest Growing Market | North America |
| Largest Market | Asia-Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Spatial Genomics & Transcriptomics Market Analysis
During the time frame of the forecast, the spatial genomics and transcriptomics market is expected to register an annual rate of 8.2%.
COVID-19 had a notable impact on the spatial genomics and transcriptomics markets during the pandemic period. The growing use of spatial genomics and transcriptomics in COVID-19 diagnosis to obtain appropriate treatments, as well as the development of COVID-19 prevention strategies, has had a significant impact on market growth.For instance, the article published in Nature in March 2021 mentioned that spatial transcriptomic data from COVID-19 patient autopsy tissues revealed distant ACE2 expression loci with macrophage and neutrophil infiltration in the lungs. The article also mentioned that these findings can inform public health and may help develop and drive SARS-CoV-2 diagnostic and prevention treatment strategies. Such increased adoption of spatial genomics and transcriptomics in the diagnosis of COVID-19 had a notable impact on the growth of the market during the pandemic period. Also, the demand for spatial genomics and transcriptomics is expected to remain intact due to the emergence of mutant strains of the COVID-19 virus during the post-pandemic period, thereby contributing to the growth of the market over the forecast period.
The spatial genomics and transcriptomics market is expected to grow owing to the emerging potential of spatial genomic analysis as a cancer diagnostic tool and the advent of the fourth generation of sequencing. For instance, in the Frontiers Journal article published in October 2022, spatial transcriptomics was described as a benefit for identifying and comprehensively understanding special spatial areas such as tumor interfaces and tertiary lymphoid structures. The report also mentioned that spatial transcriptomics also showed great potential to improve pathological diagnosis and identify novel prognostic factors in cancer. Such benefits of spatial genomics and transcriptomics for the detection of cancer are expected to drive the growth of the studied market.
Also, the increasing product launches and investments by various market players to develop advanced spatial genomics and transcriptomics technologies are expected to fuel the market's growth rate. For instance, in June 2022, 10x Genomics announced a series of product updates, such as Chromium, Visium, Xenium, and others, that will be presented at the 2022 AGBT general meeting in Orlando. Also, in February 2022, Fulgent Genetics invested in Spatial Genomics Inc. to develop the company's multi-omics platform and seqFISH technology for Fulgent's comprehensive suite of genomic testing solutions.
However, slow implementation of technology and well-established workflows for conventional genomics and transcriptomics analysis are expected to hinder market growth.
Spatial Genomics & Transcriptomics Industry Segmentation
As per the scope of spatial genomics and transcriptomics, a relatively new discipline that involves the determination of high-throughput data about the organizational structure of cell content from tissue and cell specimens Technology (Spatial Transcriptomics and Spatial Genomics), Product (Instruments, Software, and Consumables), End-User (Pharmaceutical Manufacturers, Diagnostic Customers, and Others), and Geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and South America) are the segments of the Spatial Genomics and Transcriptomics Market. The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
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Spatial Genomics and Transcriptomics Market Size Summary
The spatial genomics and transcriptomics market is poised for significant growth, driven by its increasing application in cancer diagnostics and the advancements in sequencing technologies. The market experienced a notable boost during the COVID-19 pandemic, as spatial genomics and transcriptomics were utilized for diagnosing the virus and developing prevention strategies. This trend is expected to continue due to the emergence of new COVID-19 variants. The market's expansion is further supported by the potential of spatial genomic analysis in cancer diagnosis and the introduction of fourth-generation sequencing. The development of advanced technologies and the rising number of product launches by key players are also contributing to the market's growth trajectory. However, the slow adoption of these technologies and the dominance of conventional genomics workflows may pose challenges to market expansion.
North America is anticipated to hold a significant share of the spatial genomics and transcriptomics market, fueled by the region's strong focus on cancer research and genomics-based R&D. The high incidence of cancer in countries like the United States and Canada drives the demand for advanced diagnostic solutions. The market is characterized by moderate fragmentation, with several companies actively contributing to its growth through strategic partnerships, collaborations, and product innovations. The increasing activities of market players, such as NanoString Technologies and Illumina, are expected to further propel the market forward. Additionally, initiatives by government and health organizations to enhance genomic research and address genetic diseases are likely to support the market's development over the forecast period.
Spatial Genomics and Transcriptomics Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Emerging Potential of Spatial Genomic Analysis as Cancer Diagnostic Tool
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1.2.2 Increasing Advanced Technologies of Spatial Genomics and Transcriptomics
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1.2.3 Advent of Fourth Generation of Sequencing
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1.3 Market Restraints
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1.3.1 Slow Implementation of Technology
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1.3.2 Well-Established Workflows for Conventional Genomics and Transcriptomics Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Technology
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2.1.1 Spatial Transcriptomics
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2.1.2 Spatial Genomics
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2.2 By Product
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2.2.1 Instruments
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2.2.2 Software
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2.2.3 Consumables
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2.3 By End-User
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2.3.1 Pharmaceutical Manufacturer
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2.3.2 Diagnostic Customers
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2.3.3 Others
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Spatial Genomics and Transcriptomics Market Size FAQs
What is the current Spatial Genomics and Transcriptomics Market size?
The Spatial Genomics and Transcriptomics Market is projected to register a CAGR of 8.20% during the forecast period (2024-2029)
Who are the key players in Spatial Genomics and Transcriptomics Market?
10x Genomics, NanoString Technologies, Inc., Dovetail Genomics, S2 Genomics, Inc. and Illumina, Inc. are the major companies operating in the Spatial Genomics and Transcriptomics Market.
