|Market Size in 2018||Market Forecast in 2025||CAGR (in %)||Base Year|
|USD 7.5 Billion||USD 12 Billion||8.3%||2018|
Plant Genomics Market
The global plant genomics market size was estimated at 7.5 (USD Billion) in 2018 and is projected to be valued at 12 (USD Billion) by 2025 at a CAGR of 8.3%.
The report offers a valuation and analysis of the 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).
Plant genomics is the domain whose key objective is to sequence, describe, and study the gene composition, function, and structure as well as the network of a complete plant genome. Moreover, an array of applications of genomics in plant breeding & genetic resource preservation are a few of the methods that are catching the attention of 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 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 to as ArrayMAGIC at the 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 a 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 the last week of January 2020. The new product referred to as SureSelect XT HS2 DNA Kit is designed to offer solutions to the problems faced by researchers in the 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 the removal of sample clutter due to the hopping of indexes from reads.
Based on type, the market is segmented into Genetic Engineering and Molecular Engineering. Apparently, the molecular engineering segment is predicted to grow rapidly over 2019-2025 due to the 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, the herbicide tolerance segment is set to contribute majorly towards the overall market growth by 2025 due to the growing proportion of pest attacks & strict laws concerning the use of chemicals that can prove harmful to crops while destroying weeds.
Application-wise, the plant genomics industry is sectored into Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, and Others. The 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.
|Report Attributes||Report Details|
|Report Name||Plant Genomics Market Research Report|
|Market Size in 2018||USD 7.5 Billion|
|Market Forecast in 2025||USD 12 Billion|
|Growth Rate||CAGR of 8.3%|
|Number of Pages||255|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Agilent Technologies, Illumina, Inc., Eurofins Scientific, and NRGene.|
|Segments Covered||By Type, By Trait, By Objective, By Application, By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)|
|Historical Year||2016 to 2018|
|Forecast Year||2019 - 2025|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Key players profiled in the report include
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)
The field of science known as plant genomics investigates the complete genetic make-up of plants, including the sequences of their DNA as well as the roles that their genes play. Analyzing and understanding the genetic information that is present in many plant species, spanning from crops to trees and beyond, is part of the work that is done in this field of study. Researchers can get a better understanding of how plants develop, grow, and react to their surroundings by conducting research in the field of plant genomics. This information is essential for increasing crop yields, producing plants that are resistant to disease, improving nutritional value, and supporting agricultural practices that are more sustainable. The field of plant genomics is playing an important part in the development of agriculture, the preservation of biodiversity, and the solution of problems related to global food security.
Technological Advancements The plant genomics industry is significantly impacted by technological developments in areas such as DNA sequencing technology, bioinformatics, and computational tools. Researchers will be able to conduct plant genome analysis in a more timely and cost-efficient manner as these technologies continue to advance, which will ultimately lead to increasing market adoption and growth.
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 major players in different nations of the Asia Pacific area are aiming on squarely their investments toward R&D in biotechnology on crops of high commercial value and food crops to lower poverty and to cater to the rising food demand, specifically among resource-deprived farming households.
The major players in the global plant genomics market comprise Illumina, Inc., Eurofins Scientific, Agilent Technologies, and NRGene.