PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410098
PUBLISHER: Knowledge Sourcing Intelligence | PRODUCT CODE: 1410098
The spatial genomics and transcriptomics market is estimated to grow at a CAGR of 17.38% during the forecast period.
Spatial genomics and transcriptomics are referred to as the application of cutting-edge technologies that help with the analysis of gene expression patterns and visualizations. The market for spatial genomics and transcriptomics is expanding significantly due to the growing need for precision medicine and the progress made in single-cell analysis. These technologies have great potential in a number of sectors since they provide insights into the spatial organisation of genes and genetic material within tissues at the same time. They aid in the deciphering of the complexity of tumour microenvironments and heterogeneity in cancer research, directing the creation of focused treatments and diagnostics.
Drug discovery and development is experiencing an increasing need for spatial genomics and transcriptomics markets. Drug discovery and development are seeing increasing applications for spatial genomics and transcriptomics. The focus of this demand has recently shifted from research to drug discovery and development, notably for diseases like cancer and neurological illnesses. The launch of the fourth generation of sequencing and the growing potential of spatial genomic analysis as a cancer diagnosis tool is expected to further fuel the spatial genomics and transcriptomics market.
Researchers from academic institutes are the major element influencing genomics and transcriptomics market growth. For instance, a research centre like Children's Hospital for Philadelphia has expertise in GWAS and locus identification in both academic and biotech environments. Various longitudinal and functional genomics centres have been built to investigate the morphology of diseases brought by genetic disorders, including diabetes, cancer, and Alzheimer's. Additionally, there are more extensive uses for genomic and transcriptomic technology in the field, including the Human Cell Atlas. These are the key factors influencing the growth of genomics and transcriptomics market share.
The spatial genomic studies are being used frequently in academic research facilities as they offer a thorough study of a wide range of illnesses. For instance, the Children's Hospital of Philadelphia's research centre has established a Centre of Spatial and Functional Genomics to investigate the genetic basis of several prevalent illnesses using 3D genomics-based methods. Researchers at universities can investigate novel regions of gene expression dynamics due to spatial genomics and transcriptomics. The approach is valuable for academic researchers who analyse the morphological status of cells for genetically derived disorders and find applications in research projects like the Human Cell Atlas.
The spatial genomics and transcriptomics market expansion is further fueled by the increased adoption of transcriptomics for single-cell transcriptomics analysis as compared to the genomics segment. The demand for nucleic acid sequencing of biological materials has been answered by automated sequencing techniques like the laser capture microdissection technique (LCM), which has propelled the expansion of the spatial genomics business. Additionally, a heightened understanding of tissue heterogeneity has sparked the creation of cutting-edge sequencing technology intended to archive genetic or spatial data for later use. It is predicted that during the anticipated period, this aspect will fuel spatial genomics and transcriptomics market growth.
North America is anticipated to grow significantly due to the strategic investments in disease pathology research and the increasing importance of transcriptomics R&D. For instance, the ongoing Single Cell Analysis Programme of the National Institutes of Health Common Fund focuses on sequencing methodologies and improving spatial resolution using fluorescence-based approaches.
Numerous general hospitals and other concerned organisations' implementation of genomics-based illness prevention is anticipated to aid the market's expansion along with new technological developments and product introductions. For instance, in March 2022, the National Institutes of Health declared that it had a collection of around 100,000 whole-genome sequencing from diverse species.
The introduction of preventative illness through genomics by several general hospitals and other concerned organisations is predicted to fuel the industry growth along with new advancements and product releases. For instance, Illumina and the Genetic Alliance established a USD 120 million worldwide campaign in November 2021 to boost fairness and improve outcomes for families impacted by genetic disorders. Furthermore, The National Institutes of Health also announced in March 2022 that it had a collection of approximately 100,000 whole-genome sequencing from a wide range of species. This suggests that North American government organisations place a high priority on genomics, which is anticipated to fuel the spatial genomics and transcriptomics market's growth throughout the projected period.