[179+ Pages Report] According to a Facts and Factors report, the global Agrigenomics market is estimated to be around USD 12.62 Billion in 2020, with annual sales of approximately USD 19.37 Billion at the end of 2026, representing a CAGR of around 7.4% from 2021 to 2026.
The study of the genetic makeup of crops and livestock, as well as how genes influence production, is known as agrigenomics. The use of genomics in agriculture allows for greater sustainability and productivity in livestock and crop production. Significant technological advancements that have resulted in a shift from single gene sequencing to whole-genome sequencing, as well as an increase in research on genome formulation and gene function, all contribute to the growth of the agrigenomics market. The increased use of genetic analysis in livestock not only allows for the analysis of parent lineage but also aids in identifying the behavior of pathogens like viruses and bacteria that infest or live on them. The resolution of the next sequencing allows researchers to examine genetic changes in pathogens over time, which aids in identifying the transmission patterns of these diseases and contributes to the development of effective treatments. Furthermore, these studies allow researchers to control disease outbreaks in livestock, which aids in increasing productivity. These factors are major driving forces in the agrigenomics market.
The agrigenomics market is expected to expand rapidly during the forecast period, owing to the accelerating increase in population, rise in crop and livestock demand, government policies to support research and development of crop productivity, and increase in supply for genomic datasets by the livestock breeders. Technological advancements in sequencer systems, such as the development of high-throughput systems and increased automation, contribute to market growth.
Furthermore, the decrease in sequencing cost and the reduction in the overall time required for nucleotide sequencing drive market growth. Furthermore, the rising prevalence of sequencing due to the accuracy of results boosts the market. Various researches on market-assisted selection and breeding is also expected to drive the market forward. However, high device costs, stringent regulatory procedures, and high investment costs are expected to stifle growth in the agrigenomics market throughout the forecast period.
Additionally, the increasing adoption of various sequencing techniques has resulted in greater accuracy in the results obtained, and ongoing research activities on market-assisted selection and breeding are propelling the Agrigenomics Market forward. Another factor driving the growth of the Agrigenomics Market is the growing presence of the biotechnological industry around the world, as well as government investment in various research projects to boost crop and livestock production
The global Agrigenomics market is segmented based on technology as Real-Time PCR (PCR), Microarrays, Next Generation Sequencing, Capillary Electrophoresis, and Others. By application, the market is divided into crops and livestock. It is observed that with the increased demand for GM crops and the research undertaken in the domain, the crop application will increase.in the forecast period. By service offering the market is divided into Genotyping, DNA Fingerprinting, Assessment of Genetic Purity, Trait Purity Assessment, Gene Expression Analysis, Others. Genotyping is the process of determining differences in an individual's genetic make-up by examining the individual's DNA sequence using biological assays and comparing it to the sequence of another individual or a reference sequence. Identification is the basis for the development in genetic research thus genotyping is likely to be the dominant service offering in the forecast period. The DNA/RNA Sequencing segment is also expected to grow at a faster rate during the forecasted period due to the rising demand for sequencers that can sequence a large number of samples at a low cost.
The North American agrigenomics market is growing steadily due to the increasing adoption of agrigenomics, which can reduce the use of harmful pesticides by enhancing resistance power during the early stages. The adoption of agrigenomics is primarily attributed to the reduction of pesticide use. Strong R&D, innovation of new technologies, and increased merger and acquisition (M&A) activity are the major factors driving the market growth. With increasing revenue generation within the country, the United States is the largest market in North America, followed by Canada and Mexico. APAC region is also expected to showcase robust growth owing to the high population and necessity of food security of this population.
Major players in the market are Thermo Fisher Scientific' Inc., LGS Limited, Illumina' Inc, Zoetis' Inc, Neogen Corporation, Agrigenomics' Inc., Biogenetic Services' Inc., Tecan Genomics, Inc., Affymetrix, Inc., Genotypic Technology Pvt Ltd, GalSeq srl, SciGenom Labs Pvt. Ltd, AgriGenome Labs, NuGEN, LGC Biosearch Technologies, Neogen Pharma, and Edico Genome.
Global Agrigenomics Market: Regional Segment Analysis
Middle East and Africa
KEY REPORT POINTERS & HIGHLIGHTS:
Middle East and Africa
Our Analysts and Consultants are working ceaselessly to congregate, identify, analyze, and portray the Actual Impacts of COVID-19 Global Pandemic in each of our published as well as ongoing research reports to Redefine and Revise Current and Future Market Trends, Growth Rates, And Market Size Projections across the Globe as well as in different Regions and individual Countries.
Still haven't found what you're looking for? Speak to our Custom Research TeamLearn More