Demand for Global Agrigenomics Market Size to Surpass USD 19.37 Billion by 2026, Exhibit a CAGR of 7.4% | Agrigenomics Industry Trends, Share, Value, Analysis & Forecast Report by Facts & Factors

Facts & Factors
Facts & Factors

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. The key players are covered in the report with their sales, revenues and strategies 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, and others.

Miami, FL, Oct. 06, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Agrigenomics Market By Technology (Real-Time PCR (PCR), Microarrays, Next Generation Sequencing, Capillary Electrophoresis, Others) By Application (Crops and Livestock), By Service Offerings (Genotyping, DNA Fingerprinting, Assessment of Genetic Purity, Trait Purity Assessment, Gene Expression Analysis, Others), By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” in its research database.

“According to the latest research study, the global Agrigenomics Market size was valued at approximately USD 12.62 billion in 2020. The market is expected to grow above a CAGR of 7.4% and is anticipated to reach over USD 19.37 billion by 2026.”

The report analyses the Agrigenomics market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Agrigenomics market.

Agrigenomics Market Overview:

Agricultural genomics is the development of genomics in farming to increase agricultural and livestock efficiency and production. Growing usage of genome sequencing in livestock allows the study of parent lineage and helps in understanding the features of infectious agents like viruses and bacteria that infest or live on them. The high resolution of next-generation sequencing allows researchers to track the mutations in infectious agents over time, which aids in the understanding of disease transmission patterns and aids in the creation of successful treatments.

Furthermore, these studies enable researchers to better monitor disease outbreaks in livestock, resulting in increased productivity. These factors are significant demand drivers for agrigenomics.

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Key Insights from Primary Research

  • As per the analysis, the Agrigenomics market is likely to grow above a CAGR of around 7.4% between 2021 to 2026

  • The Agrigenomics market size was worth around US$ 12.62 Billion in 2020 and is estimated to hit approximately US$ 19.37 Billion by 2026. Due to a variety of driving factors, the market is predicted to rise at a significant rate.

  • 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.

  • Identification is the basis for the development in genetic research thus genotyping is likely to be the dominant service offering in the forecast period

  • On the basis of region, 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.

Market Growth Drivers

High Demand for agrigenomics for Boosted the Market Growth

Due to rapid population growth and rising global food demand, there is an increasing demand for agrigenomics in the livestock industry. The high demand for agrigenomics in the application of genomics in agriculture helps to improve the sustainability and productivity of livestock and crop production, driving the market's growth from 2021 to 2026. Furthermore, significant advancements in technology that have led to the switch from single-gene sequencing to whole-genome sequencing, as well as an increase in funds for agrigenomics research, fuel the adoption of novel technologies and rising adoption of agrigenomics because it can reduce the use of harmful pesticides by enhancing resistant power during the early stages and an increase in funds for research fuel the adoption of novel technologies and rising adoption of agrigenomics.

Furthermore, increasing research in the field of agrigenomics in emerging economies and DNA sequencing in livestock is generating a slew of lucrative opportunities that will propel the market forward during the forecast era. Higher throughput and lower cost per sample have resulted from the rapid adoption of sequencing technology in the agrigenomics industry. Because of this, the NGS technique is positioned in the agrigenomics market as a cost-efficient method for purity checking, genotype screening, gene mapping, conducting association mapping, screening backcross lines, genomic selection, and constructing haplotype maps.

Additionally, in the agrigenomics industry, NGS is commonly used for genomes that are large where funding is less. Crop researchers have also been pushing the industry by promoting the use of NGS for genomic that assisted breeding and genomic selection. Researchers are looking into the agrigenomics industry to see if there are any solutions to diseases that cause massive food loss. However, in the forecasted timeframe, the low adoption of automated instruments is acting as a market restriction for the agrigenomics for the livestock market, while one of the biggest challenges to the market's growth is the hazardous effects that restrict certain research practices.

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Competitive Players

The report contains qualitative and quantitative research on the global Agrigenomics Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards.

Some of the main players in the global Agrigenomics market include:

  • 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

  • Edico Genome

Agrigenomics Market: Segmentation Analysis

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.

Browse the full “Agrigenomics Market By Technology (Real-Time PCR (PCR), Microarrays, Next Generation Sequencing, Capillary Electrophoresis, Others) By Application (Crops and Livestock), By Service Offerings (Genotyping, DNA Fingerprinting, Assessment of Genetic Purity, Trait Purity Assessment, Gene Expression Analysis, Others), By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” report at https://www.fnfresearch.com/agrigenomics-market

Regional Analysis:

North America dominates the Agrigenomics Market

The North American agrigenomics market is steadily growing due to the growing adoption of agrigenomics, which can help to minimize the use of harmful pesticides by improving resistance capacity during the early stages of growth. Pesticide use has been reduced significantly as a result of the introduction of agrigenomics. Strong R&D, new technology innovation, and increased merger and acquisition (M&A) activity are the major factors driving the market growth. With growing revenue generation within the region, the United States is the largest market in North America, followed by Canada and Mexico.

NRGene had put together the genome structure of a commercially grown strawberry in November 2016 and by using Illumina technology, the genome was sequenced and assembled using NRGene's DeNovoMAGIC 3.0 cloud-based software. Again, Affymetrix, Inc. presented many new agrigenomic genotyping solutions (PAG XXIV). Affymetrix had launched Eureka Genotyping Solution for low-plex, low-cost genotyping by sequencing, following the company's acquisition of Eureka Genomics in mid-2015 (GBS). Two new array configurations for the Axiom® genotyping platform are also being introduced, giving customers a wide variety of choices for sample numbers and throughput targets.

Asia-Pacific is expected to register the fastest growth rate during forecasted analysis. With the support of international partnerships, China and Australia have been upgrading their technology and services to boost their growth in agriculture and horticulture operations in the Asia-Pacific region. Australia, China, Japan, South Korea, and India have funded agrigenomic research projects in specific areas of interest. Certain factors are attributing to the growth of the market.

Report Scope:

Report Attribute

Details

Market Size in 2020

USD 12.62 Billion

Projected Market Size in 2026

USD 19.37 Billion

CAGR Growth Rate

7.4% CAGR

Base Year

2020

Forecast Years

2021-2026

Key Market Players

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, and others.

Key Segment

By Technology, Application, Service Offerings, and Region

Major Regions Covered

North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa

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The global Agrigenomics market is segmented as follows:

By Technology

  • Real-Time PCR (PCR)

  • Microarrays

  • Next Generation Sequencing

  • Capillary Electrophoresis

  • Others

By Application

  • Crops

  • Livestocks

By Service Offerings

  • Genotyping

  • DNA Fingerprinting

  • Assessment of Genetic Purity

  • Trait Purity Assessment

  • Gene Expression Analysis

  • Others

By Region

  • North America

    • The U.S.

    • Canada

  • Europe

    • France

    • The UK

    • Spain

    • Germany

    • Italy

    • Rest of Europe

  • Asia Pacific

    • China

    • Japan

    • India

    • Southeast Asia

    • Rest of Southeast Asia

  • The Middle East & Africa

    • GCC

    • South Africa

    • Rest of the Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

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Key Offerings:

  • Market Size, Trends, & Forecast by Revenue | 2021−2026

  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities

  • Market Segmentation – A detailed analysis By Technology, Application, Service Offerings, and Region

  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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