Spatial Genomics Transcriptomics Market

Spatial Genomics Transcriptomics Market Size (2024 - 2029)

The global spatial genomics transcriptomics market size is valued at USD 302.45 Million in 2024 and is anticipated to reach USD 587.25 Million by 2029 with a CAGR of 11.7% during the forecast period.

The term genomics states that it is related to studying and understanding the disease by discovering specific genetic changes related to it. The term transcriptomics is a technique used to obtain information on the abundance of multiple mRNA transcripts within the biological sample. Using these two techniques, scientists can utilize next-generation sequencing to identify transcriptomics within a specific or cellular context.

MARKET DRIVERS:

The Spatial Genomics Transcriptomics Market is experiencing significant growth driven by several key factors. Advanced diagnostic tools, such as spatial omics and fourth-generation sequencing, are revolutionizing cancer diagnostics by providing a deeper understanding of tumor biology. Specifically, spatial transcriptomics enables the identification of crucial tumor features like interfaces and lymphoid structures, enhancing pathological diagnosis and uncovering novel prognostic factors. With a rising prevalence of cancer worldwide, there's a growing demand for more effective research and treatment options.

This has led to an increased focus on personalized medicine, driving the need for precise biomarkers for diagnosis and therapy. Moreover, market players' substantial investments and frequent product launches fuel innovation in spatial genomics and transcriptomics technologies. Government support through initiatives and funding further accelerates market growth, while industry events like the AGBT conference serve as platforms for showcasing advancements. These collective efforts propel the Spatial Genomics Transcriptomics Market forward, catering to the evolving needs of cancer diagnostics and treatment.

The increasing investments by major market players in research and development activities drive significant advancements in gene sequencing techniques. These efforts are pivotal in unlocking new opportunities within the Spatial Genomics Transcriptomics Market. Specifically, spatial transcriptomics, a cutting-edge technology, is emerging as a game-changer in breast cancer research. By providing powerful tools to identify specific expression markers, spatial transcriptomics enhances our understanding of the molecular landscape of breast cancers and sporadic high-plasticity subtypes. This deeper understanding has profound implications for diagnosis and clinical care, enabling more precise and personalized treatment strategies tailored to individual patients' needs.

Moreover, as research in spatial genomics and transcriptomics progresses, it is expected to catalyze market growth by fostering innovation and the development of novel therapeutics and diagnostic approaches. These advancements hold promise for improving patient outcomes and present opportunities for market expansion and the emergence of new technologies and solutions. Ultimately, the continued investment in research and development activities, coupled with the application of spatial genomics and transcriptomics in breast cancer and other disease areas, is poised to drive transformative changes in healthcare and propel the Spatial Genomics Transcriptomics Market into a new era of innovation and progress.

MARKET RESTRAINTS:

One of the key challenges restraining the growth of the Spatial Genomics Transcriptomics Market stems from biological limitations inherent in the measurement of mRNA. While spatial transcriptomics primarily focuses on mRNA, RNA silencing can prevent mRNA from translating into proteins accurately, potentially undermining the market's growth by not providing a complete picture of protein expression levels. Moreover, optical overpopulation and lower detection efficiency when targeting numerous mRNAs present additional hurdles. These challenges could compromise the accuracy and sensitivity of spatial transcriptomics techniques, thereby impeding market expansion. Furthermore, limitations like low resolution and incomplete sequencing depth hinder the widespread adoption of these methods, limiting their ability to capture detailed spatial information effectively. Additionally, the difficulty in identifying abnormal disease variants due to certain sequence variations poses another obstacle to market growth. Addressing these constraints will be crucial for unlocking the full potential of future spatial genomics and transcriptomics technologies.

The high costs of the R&D activities with limited skilled personnel and facilities, lack of primary research studies, and economic hurdles are all challenging for the market expansion during the forecast period. Due to low and middle economic status, most developing countries need more advanced technologies in the research activities. Unfavorable reimbursement policies by the national government are expected to impede market revenue growth worldwide as spatial genomics, and transcriptomics involve high-resolution genomic mapping and sequencing to study tissue expression patterns. These types of research involve various regulatory concerns regarding safety, privacy, and ethics, which are expected to be challenging for global market growth.

COVID-19 Impact:on Spatial Genomics Transcriptomics Market:

The pandemic positively impacted the spatial genomics transcriptomics market with the increasing use of spatial genomics and transcriptomics in COVID-19 diagnosis, to obtain beneficial treatment procedures, and to prevent COVID-19. This has shown a significant impact on market growth during the Pandemic period. According to an article published in Nature, 2021, spatial transcriptomic data from the autopsy of a COVID-19 patient revealed distant ACE2 expression loci with macrophage and neutrophil infiltration in the lungs. This information can help public health and develop prevention and diagnostic strategies for SARS-CoV-2. The demand for spatial genomics and transcriptomics is expected to remain huge during the forecast period due to the emergence of mutant variants of COVID-19.

REPORT COVERAGE:

This research report on the Global Glucometer Market has been segmented and sub-segmented based on product, type, distribution channel, Indication and region.

Spatial Genomics Transcriptomics Market - By Technology:

• Spatial Genomics
• Spatial Transcriptomics

The spatial transcriptomics segment held the largest market share of 81.2% in the global spatial genomics transcriptomics market in 2023. Spatial Transcriptomics is highly adopted compared to the spatial genomic methods, as the transcriptomic study requires single cells, which is the prominent driver for segment growth. The sequencing techniques for the nucleic acid of single cells or specific biological specimens are increasing, which is demanding automated, robust, and scalable preparation solutions. The necessity of understanding tissue heterogenicity was increasing, which had increased the launches of several unique sequencing workflows that aim to preserve spatial information.

The spatial genomics segment is expected to grow more during the forecast period due to increasing demand for spatial omics in the research and development activities for developing treatment options.

Spatial Genomics Transcriptomics Market - By Product:

• Instruments
• Consumables
• Software

The consumables segment held a significant share of 56.23% in the global market 2023. The development of new instruments or upgrade of any existing instrument significantly impacts the segment growth as the development of new instruments results in the development of required consumables.

The software segment is estimated to grow lucratively during the forecast period. The increasing number of ongoing research studies is leading to the need for software solutions for data management and interpretation.

Spatial Genomics Transcriptomics Market - By End-Use:

• Translational research
• Academic Customers
• Diagnostic Customers
• Pharmaceutical Manufacturers

The translational research segment dominated the global market with a revenue share of 63.21% in 2023. The utilization of spatial genomics and transcriptomics in translational research benefits the research due to the in-depth analysis of physiology and state of disease, which is expected to enhance the introduction of new diagnostic tools and therapeutics. Spatial genomics and transcriptomics provide valid and in-depth information on the organizational structure of cell content from tissues and cell species.

Academic customers have gained traction in recent years due to the increasing incorporation of spatial genomic analysis in academic research institutions as it is used to analyze various disorders.

Spatial Genomics Transcriptomics Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

North American region held the largest market share of 46.3% in the global spatial genomics transcriptomics market in 2023. The increasing adoption of spatial profiling in cancer research with an increasing focus on genomic-based R&D activities and growing government investments by collaborating with private companies are prominently contributing to the global market expansion in the region. The rising prevalence of cancer in the US is enhancing them to seek solutions and increasing investments in cancer research. According to ACS, around 1.9 million new cancer cases are recorded in the US, and according to data from the

Public Health Agency of Canada, 2 in 5 Canadians will be diagnosed with cancer in their lifetime in 2021. The high number of cancers in North American countries is projected to increase the demand for advanced diagnostics, such as spatial genomics and transcriptomics, enhancing global market growth. The increasing product launches, wing advancements in the healthcare system, and increasing R&D and hospitals are boosting the global market revenue in this region.

The Asia Pacific region is projected to grow significantly during the forecast period due to increasing government initiatives for developing new therapeutics and diagnostics. Spatial genomics and transcriptomics offer unique advantages in studying cells' spatial organization and interactions within complex biological systems, allowing researchers to focus more on spatial methods than traditional genomic methods which fuels the global market.

With a growing population count, the number of chronic diseases across the region is increasing. The enhancement in the healthcare system in countries like China, Japan, India, and South Korea is inducing market growth opportunities.

KEY MARKET PLAYERS:

10x Genomics, NanoString Technologies Inc., Bruker, Illumina, Novogene Co., Ltd., S2 Genomics, Visiopharm, Horizon Discovery Ltd., SciLife Lab, Akoya Biosciences, Inc

RECENT MARKET DEVELOPMENTS:

• In May 2023, 10x Genomics Inc., a US-based biotechnology company, launched a new Visium CytAssist Gene and Protein Expression product, expanding the capability of Visium CytAssist Spatial Analysis.
• In April 2023, Bio-Techne and Lunaphore announced their partnership to design and develop the world's first automated spatial omics multi-workflow.
• In February 2023, a biotechnology company, Curio Bioscience, announced the launch of Curio Seeker, the world's first high-resolution, whole transcriptome spatial mapping kit using slide-sequencing technology.
• In May 2022, NanoString announced a cloud-based, seamless workflow that improves spatial data analysis experience using Illumina NextSeq 1000 and NextSeq 2000 sequencing systems and GeoMx Digital Spatial Profiler, which facilitates spatial biology research using next-generation sequencing.
• In October 2022, NanoString Technologies, Inc., a US-based global biotechnology company, announced its collaboration with Visiopharm, an AI-based precision medicine provider, where both, in combination, accelerate the discovery of novel biomarkers and drug targets using spatial imaging and machine learning technologies.