As per Zion Market Research, the global plant genomics market in 2019 was valued at USD 7.5 billion in 2019 is predicted to grow at a CAGR of 8.3% to surpass USD 12 billion by 2025.
The global plant genomics market was estimated at 7.5 (USD Billion) in 2019 and is projected to be valued at 12 (USD Billion) by 2025 at a CAGR of 8.3%. The report offers valuation and analysis of Plant Genomics Market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, sales estimates, opportunities, current & emerging trends, and industry-validated market figures. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Billion).
Key Growth Drivers
Plant genomics is the domain whose key objective is to sequence, describe, and study the gene composition, function, and structure as well as network of a complete plant genome. Moreover, an array of application of genomics in plant breeding & genetic resource preservation are few of the methods that are catching the attention of the professional researchers and this will steer the growth of the plant genomics market over the forecast period.
Our report also provides the current developments taking place in the industry along with the competitive moves & strategies adopted by the market players to expand their business. Let us discuss about some of the reputed brands in the plant genomics industry.
In the second week of January 2020, NRGene, a leading genomic big data organization, announced the launching of joint sequencing-based genotyping services referred as ArrayMAGIC at Plant & Animal Genome conference in San Diego, U.S. Sources have cited that the new service offering will give ultra-high-density SNP (single nucleotide polymorphism) genotyping services at low-costs. This, in turn, is expected to make the technology available for gamut of applications in farming activities.
In August 2019, NRgene declared the introduction of DeNovoMax, an improved version of the flagship product DeNovoMAGIC. Reportedly, the key objective of launching DeNovoMax is to improve crop breeding as well as crop yield in agriculture. Sources cite that the new product is predicted to be offered to popular homozygote species including tomato, corn, wheat, cotton, tobacco, soybean, sunflower, and pepper.
Agilent Technologies, a behemoth player in life sciences, diagnostics, & applied chemical industries, launched a new product in last week of January 2020. The new product referred as SureSelect XT HS2 DNA Kit is designed to offer solutions to the problems faced by the researchers in preparation of DNA sequencing libraries for their research activities in labs. Reports cite that the new product will help in reducing DNA sequencing costs for high throughput laboratories along with removal of sample clutter due to hopping of indexes from reads.
Based on type, the market is segmented into Genetic Engineering and Molecular Engineering. Apparently, molecular engineering segment is predicted to growth rapidly over 2019-2025 due to acceptance of molecular plant engineering techniques across the countries like the U.S., the UK, France, Holland, and Germany.
On the basis of trait, the industry is segregated into Yield Improvement, Herbicide Tolerance, Disease Resistance, and Others. Furthermore, herbicide tolerance segment is set to contribute majorly towards the overall market growth by 2025 due to growing proportion of pest attacks & strict laws concerning use of chemicals that can prove harmful for crops while destroying weeds.
Application-wise, the plant genomics industry is sectored into Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, and Others. Cereals & Grains segment is anticipated to dominate the application landscape over the forecast period.
In terms of objective, the market for plant genomics is divided into Sequencing, Genotyping, Gene Expression, MAS, Extraction, Gene Expression, and GMO-trait Purity Testing.
Key players profiled in the report include Agilent Technologies, Illumina, Inc., Eurofins Scientific, and NRGene.
The global plant genomics market is segmented as follows:
Others (insect resistance and abiotic stress tolerance)
Marker-assisted selection (MAS)
GMO-trait purity testing
Cereals & grains
Oilseeds & pulses
Fruits & vegetables
Others (sugar crops, ornamentals, and alfalfa)