According to research report the “Spatial Genomics and Transcriptomics Market is projected to grow from USD 355 million in 2022 to USD 800 million by 2027 at a CAGR of 17.6%. The major factors driving the growth of the spatial genomics and transcriptomics market are the increasing adoption of spatial genomics and transcriptomics techniques for drug discovery & development and the increasing R&D investments and public-private funding. Additionally, introducing technologically advanced instruments for spatial genomics analysis boosts the market growth.
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Spatial Transcriptomics techniques accounted for the largest share of the spatial genomics & transcriptomics market
Based on the technique, the spatial genomics and transcriptomics market is segmented into spatial transcriptomics techniques and spatial genomics analysis techniques. In 2021, the spatial transcriptomics techniques segment accounted for the largest share of the global spatial genomics and transcriptomics market. Growth in this market segment can be attributed to the high adoption of spatial transcriptomics in drug discovery and development, introduction of novel products, increasing R&D investments and public-private funding.
Consumables is the largest-growing product segment of the spatial genomics & transcriptomics market
Based on product, the spatial genomics and transcriptomics market is segmented into consumables, instruments, and software. In 2021, the consumables segment accounted for the largest share of the product segment of spatial genomics and transcriptomics market. Market growth can largely be attributed to the growing applications of spatial genomics and transcriptomics in drug discovery & development and biomarker identification and the growing use of consumables.
North America accounted for the largest share of the spatial genomics & transcriptomics market
North America held the largest share in the global market, followed by Europe. The large share of the North American regional segment can be attributed to the rising focus on drug discovery & development, attributed to the growing incidence of chronic diseases and genetic diseases and the rapidly growing aging population, also supports the use of spatial genomics and transcriptomics operating in the spatial genomics and transcriptomics market in this region.
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The spatial genomics & transcriptomics market is consolidated in nature with prominent players in the spatial genomics & transcriptomics market include NanoString Technologies, Inc. (US), 10X Genomics (US), Illumina (US), Bio-Rad Laboratories (US), Bio-Techne Corporation (US), Standard BioTools Inc. (US), Genomic Vision SA (France), Akoya Biosciences, Inc. (US), Danaher Corporation (US), Natera, Inc. (US), PerkinElmer, Inc. (US), Seven Bridges Genomics (US), S2 Genomics, Inc. (US), Cantata Bio (US), Vizgen Corporation (US), BioSpyder Technologies Inc. (US), Optical Biosystems Inc. (US), Miltenyi Biotec (Germany), Ultivue Inc. (US), Lunaphore Technologies SA (Switzerland), Rebus Biosystems LLC (US), Resolve Biosciences (Germany), Singular Genomics, Inc. (US), and Veracyte (US).
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