Spatial Genomics & Transcriptomics Market is Predicted to Witness 11.1% CAGR till 2028

The global Spatial Genomics And Transcriptomics Market size is expected to reach USD 381.3 million by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.1% from 2021 to 2028. Rapid advances in genomics from human sequencing, tissue sequencing, and single-cell sequencing have resulted in the emergence of spatial genomics and transcriptomics sequencing. The market participants are engaged in solidifying their market position through various business strategies considering this market as the lucrative source of revenue in the coming years.

For instance, in May 2020, 10x Genomics introduced its Targeted Gene Expression Solution for single-cell research as well as spatial genomic research. This solution allows researchers to focus on biomarkers and cell types that are important for their studies. The company also initiated shipping of its Visium Spatial Gene Expression Solution in November 2019. Furthermore, the integration of high throughput solutions in omics studies has enabled determining the link between disease occurrence and genome position.

Spatial reorganization of the genome is being identified in several diseases, which is anticipated to boost the application of spatial genome positioning patterns in disease diagnosis. Several small- and large-scale retrospective studies have been carried out to provide proof-of-principle for the use of genome positioning as a diagnostic solution. This is anticipated to spur organic revenue flow in the space by driving the adoption of spatial genomics and transcriptomics technologies. Key players are engaged in offering technologically advanced solutions and platforms to effectively serve the research and clinical domain as well as enhance their revenue share within various end-use settings.

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Spatial Genomics & Transcriptomics Market Report Highlights

• The spatial transcriptomics technology segment held the largest revenue share of 82.2% in 2020 owing to the early entry of 10x Genomics and Spatial Transcriptomics company in the space with their product offerings under this segment
• By product, consumables accounted for the largest revenue share in 2020 owing to the high penetration of products in terms of usage and purchase rate. Furthermore, the continuous launch of new solutions under this segment, including a new range of in situ sequencing reagent kits by CARTANA in May 2020, is bolstering segment growth
• Based on end use, academic customers captured the largest share of 59.3% in 2020 owing to the ongoing extensive research studies within universities and academic institutes pertaining to the study and implementation of the morphological state of cells during disease diagnosis
• North America captured the maximum revenue share in 2020 and is expected to maintain its lead throughout the forecast period owing to the presence of key technology suppliers, coupled with expanding R&D spending on the introduction of advanced disease diagnostic solutions in the U.S.
• Asia Pacific is anticipated to expand at the fastest CAGR during the forecast period owing to the presence of untapped avenues and low-cost operating and manufacturing centers in the region