Technological advancements in sequencing technologies, increasing application of spatial genomics & transcriptomics in biomarker identification & drug discovery

NEW YORK, NY, UNITED STATES, October 25, 2021 /EINPresswire.com/ -- The global spatial genomics & transcriptomics market size is expected to reach USD 675.34 Million by 2028 at a CAGR of 18.1% over the forecast period, according to the latest report by Reports and Data. Key factors driving market revenue growth include increasing prevalence of genetic disorders and chronic conditions such as cancers, neurological disorders, and rare diseases, which have boosted need for high-resolution multiplex assays and instruments, and this is expected to further drive developments in spatial-based technologies. Increasing application of spatial genomics and transcriptomics for drug discovery and biomarker identification is also a key factor expected to drive revenue growth of market over the forecast period. Significant funding to expand R&D activities in the field of spatial-based technology is expected to support market growth going ahead.

Spatial transcriptomics covers methods specifically designed to assign cell types to their specific locations across tissue samples. It allows determination of subcellular localization of mRNA molecules. Data obtained about spatial distribution of mRNA molecules allows researchers to study cellular heterogeneity in tissues, tumors, and immune cells. Spatial-profiling based solutions allows analysis of tissue microenvironment, tumor biology, and tissues biomarkers. Spatial genomics and transcriptomics offers key insights in the fields of oncology, immunology, cell and gene therapy, histology, and embryology.

Spatial genomics and transcriptomics are novel research fields that aim to fill the knowledge gap about cellular machinery, spatial organization, differentiations, and localization that occurs at genomic and transcriptomics level within each cell and in tissues. These techniques have significant potential in managing chronic and rare diseases and rising burden of chronic disease such as cancers and diabetes across the globe have boosted their application in drug discovery and development. This is expected to fuel revenue growth of market over the forecast period. However, lack of skilled professionals and low awareness about advanced spatial-based technologies can restrain market growth to a significant extent over the forecast period.

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The report is formulated through exhaustive primary and secondary research which is verified and validated by industry experts, research analysts, and professionals. The report aims to help readers and users improve their business performances by providing insightful data about business sphere such as recent technological development, product advancements, and adoption of strategic business steps. The report also offers extensive analysis of the competitive landscape along with business overviews, expansion plans, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, product and brand promotions, government and corporate deals, and partnerships among others.

Top Companies in the Market Include:

10X Genomics, NanoString Technologies Inc., Illumina Inc., Bio-Rad Laboratories, Natera Inc., S2 Genomics, Inc., Dovetail Genomics, Bio-Techne, Flagship Biosciences, Fluidigm Corporation, Seven Bridges Genomics, Horizon Discovery Group Plc., and Akoya Biosciences, Inc., among others.
Increasing focus on development of vaccines to combat COVID-19 pandemic and focus on preventive medicine to mitigate future epidemics and pandemics, rising number of product approvals for drugs and therapeutics, and rapid digital transformation in the pharmaceutical and healthcare industry are some key factors expected to drive revenue growth over the forecast period. With the social distancing norms in place and growing focus on telemedicine, digital technologies were adopted at an accelerated rate allowing healthcare professionals to efficiently manage health of the patients. One of the most crucial drivers of the pharma & healthcare industry is the rapid integration of artificial intelligence in key areas such as R&D, patient care, commercialization, and drug discovery and development. It has also led to a reduction in healthcare expenditure and improved efficiency of the systems which is expected to further contribute to revenue growth of the market going ahead.

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Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered. The report is segmented on the basis of product types offered in the market, application spectrum, and key regions of the Spatial Genomics & Transcriptomics market.

Some Key Highlights from the Report:

• Spatial transcriptomics segment revenue growth is expected to expand steadily over the forecast period owing to increasing transcriptomic studies of single cells for drug discovery and development and increasing demand for advanced sequencing techniques.

• Consumables segment is expected to register significant revenue growth over the forecast period, attributable to increasing availability of a wide range of products, high penetration rate of consumable, and rising expenditure on reagents and kits for efficient functioning of instruments.

• Translational research segment is expected to account for a significant revenue share in the global market during the forecast period owing to increasing application of spatial genomics and transcriptomics in translational research to understand high-throughput data of cells and tissues to understand disease pathology and physiology.

• Academic & research institute segment is expected to register significant revenue CAGR over the forecast period owing to increasing adoption of spatial genomic and transcriptomic analysis in academic institutions, increasing focus on diseases pathology, and availability of funding and grants for genomic and transcriptomic research.

• North America is expected to account for largest revenue share contribution to the global market over the forecast period, attributable to increasing investment to advance genomic R&D initiatives, rising focus on disease pathology research, and technological advancements in biomedical techniques and sequencing technologies. Robust presence of key companies in the region is also expected to support market growth going ahead.

• In April 2021, Vizgen, which is a U.S-based biotech company that develops solutions for next-generation spatially resolved, single cell transcriptomics, closed Series B funding round at USD 37 Million, which will be used to accelerate infrastructure development for the commercial launch of MERSCOPE Platform to advance spatial genomics research. The platform offers insights into a broad range of tissue-based research and translation medicine in neurology, oncology, and immunology, among others.

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For the purpose of this report, Reports and Data has segmented the global spatial genomics & transcriptomics market based on technique, product application, end-use industry, and region:

Technique Outlook (Revenue, USD Million; 2018-2028)

• Spatial Genomics
o Fluorescence In Situ Hybridization (FISH)
o Sequencing Techniques
o Others Spatial Genomics Analysis Techniques
• Spatial Transcriptomics
o Immunohistochemistry (IHC)
o In Situ Hybridization
o Sequencing Technologies
o Microscopy-based RNA Imaging
o Other Spatial Transcriptomics Techniques

Product Outlook (Revenue, USD Million; 2018-2028)

• Instruments
• Consumables
• Software

Application Outlook (Revenue, USD Million; 2018-2028)

• Translational Research
• Drug Discovery & Development

End-user Outlook (Revenue, USD Million; 2018-2028)

• Academic & Research Institutions
• Contract Research Organizations (CROs)
• Pharmaceutical and Biotech Companies
• Others

Key Regions Studied in the Report:

• North America (U.S., Canada, Mexico)
• Europe (U.K., Italy, Germany, France, Rest of Europe)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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