Global Agrigenomics Market
Agrigenomics is the branch of science deals with the study of genetic makeup and their role in the development of crops and plants. The application of gene expression and next-generation sequencing plays a vital role in agrigenomics. These technologies help to understand the plant evolution, product yield, disease resistance, pest management, and among others. In addition, the other technologies in agrigenomics testing include DNA/RNA sequencing, genotyping, DNA extraction and purification, and targeted sequencing among others.
Market Dynamics: Agrigenomics Market
Technological advancements in the agrigenomics such as post-sequencing analysis techniques, government initiations for improving the crop yield, increase in R&D activities for the innovation of newer tests, and rise in funding from private and public sectors are expected to fuel the growth of agrigenomics market over the forecast period. However, stringent regulations for genetic test approvals, lack of professional researchers, and high cost of testing might hamper the growth of the market. Furthermore, trends in the market include advancements such as automation in genomic studies.
Market Scope: Agrigenomics Market
Agrigenomics market is segmented on the basis of sequencing method, services, and application
Based on the sequencing method, it is segmented into the following:
- PCR based
- Whole genome-based
- Restriction digest
Based on the services, it is segmented into the following:
- DNA fingerprinting
- Gene expression profiling
- Trait purity analysis
- Genetic purity assessment
Based on the application, it is segmented into the following:
Market Summary: Agrigenomics Market
Agrigenomics market is growing at a significant CAGR owing to increase in the government initiations for improving crop yield. Rise in funding from public and private sector expected to fuel the market. For instance, in October 2015, Genestack received £90,000 grant from Innovate UK to collaborate with Rothamsted Research on the development of agri-genomics for the development of crops. Moreover, product portfolio expansion, innovation of newer tests, and acquisition and mergers are the strategies followed by the companies for increasing their revenue share in agrigenomics market. For instance, in January 2016, Affimetrix, Inc. expanded its agrigenomics genotyping portfolio with new targeted sequencing solution Eureka and the company introduced two new array configurations for Axiom genotyping platform.
Regional Analysis: Agrigenomics Market
Geographically, agrigenomics market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America agrigenomics market has a prominent growth, which is attributed to increase in the preference for improving crop yield, rise in R&D activities in agrigenomics, and government support to undertake advanced sequencing techniques. For instance, in May 2016, USDA’s National Institute of Food and Agriculture and Department of Energy invested USD 10 Mn for more efficient feedstock improvements and biofuel production. Europe agrigenomics market is driven by adoption of novel technologies in agrigenomics, collaboration between the companies for development of newer techniques, and increase in agriculture production fuel the market. Asia Pacific agrigenomics market growth is attributed to increase in government investment in agrigenomics in China and Japan, and collaboration between research institutes and industry players.
Market Participants: Agrigenomics Market
Some of the players in the market are Eurofins Scientific SE (Luxembourg), LGC Limited (U.K.), Affimetrix, Inc. (Thermo Fisher Scientific) (U.S.), Illumina, Inc. (U.S.), Zoetis Services LLC. (U.S.), Biogenetic Services’ Inc. (U.S.), Agrigenomics’ Inc. (U.S.), and Galseq SRL VIA Italia (Italy) to name a few.
Notable Market Developments: Agrigenomics Market
- In July 2015, Neogen Corporation and Illumina Inc. extended their strategic alliance in agrigenomics research
Key Features of the Report
- The report provides granular level information about The market size, regional market share and forecast from 2017-2024
- The report covers in-detail insights about The competitor’s overview, key findings and Their key strategies
- The report outlines drivers, restraints, challenges, and trends that are currently faced by The industry
- The report tracks recent innovations, key developments and startup’s details that are working in The industry
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario