(PharmaNewsWire.Com, March 19, 2024 ) The report "APAC Spatial Genomics & Transcriptomics Market by Technique (Spatial Transcriptomics (IHC, ISH), Spatial Genomics (FISH, Sequencing)), Product (Instruments, Consumables, Software), Application (Drug Discovery), End User (Biotech, CROs) - Forecast to 2027", is projected to reach USD 152 million by 2027 from USD 64 million in 2022, at a CAGR of 18.9% during the forecast period. 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.
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 Asia Pacific 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 fastest-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 fastest-growing 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.
“India: The fastest-growing country in the spatial genomics & transcriptomics market.”
The Indian market is projected to grow at the highest CAGR during the forecast period, mainly due to the growing biopharmaceutical industry, collaborations between hospitals and diagnostic centers for laboratory services, and initiatives undertaken by the government.
The market for Asia Pacific spatial genomics & transcriptomics is highly consolidated, with key players strategizing to capture the market. Prominent players in the Asia Pacific spatial genomics and transcriptomics market are NanoString Technologies, Inc. (US), 10X Genomics (US), Illumina (US), Bio-Rad Laboratories (US), Bio-Techne Corporation (US), Standard BioTools Inc. (US), Akoya Biosciences, Inc. (US), PerkinElmer, Inc. (US), S2 Genomics, Inc. (US), Cantata Bio (US), Vizgen Corporation (US), BGI (China), Miltenyi Biotec (Germany), Bruker (US), PerkinElmer Inc. (US), and Novogene Co., Ltd. (China).
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