What Has Been the Progress and Growth of the Plant Genomics Market in Recent Years?
The plant genomics market has seen considerable growth due to a variety of factors.
•The market size of plant genomics has seen significant growth in the past few years. The market is expected to expand from $10.99 billion in 2024 to $11.94 billion in 2025, with a compound annual growth rate (CAGR) of 8.7%.
The historic growth can be credited to factors like augmented funding for genomics research, optimization of crop yield, climate change-related concerns, research collaborations, and a consumer preference for sustainable agriculture.
What Can Be Expected from the Plant Genomics Market in the Coming Years?
The plant genomics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for plant genomics is predicted to experience significant expansion in the approaching years, with estimates projecting it to reach $17.36 billion by 2029, with a compound annual growth rate (CAGR) of 9.8%.
This anticipated surge during the forecast period can be credited to factors such as the application of big data analytics in genomics, the rise in precision agriculture, enhancements in crop nutrition, concerns over worldwide food security, and studies into gene expression. Prevailing trends for this period will revolve around CRISPR and genomic editing technologies, alongside the advancement of sequencing technologies, big data and bioinformatics, and the amalgamation of omics technologies.
What Are The Leading Drivers Of Growth In The Plant Genomics Market?
The ascension of the plant genomics market going forward is forecasted to be driven by the escalating demand for genetically modified plants. Genetically modified organisms, which incorporate plants that have been genetically modified utilizing recombinant DNA technology, are referred to as genetically modified plants. Modifications to their growth patterns or disease resistance are among the advantages bestowed upon genetically engineered plants through plant genomics research. Genetic modification results in a genetically modified plant acquiring new or different characteristics after a specific DNA sequence has been added to the plant's genome. As an illustration, AgbioInvestor-GM, an analytical firm based in Scotland specializing in the biologicals market, noted in February 2024 that the global land area dedicated to GM crops in 2023 saw an increase of 1.9% over the preceding year, hitting a new high of 206.3 million hectares. Consequently, the drive behind the growth of the plant genomics market is the growing demand for genetically modified plants.
How Are The Segments Defined Within The Global Plant Genomics Market?
The plant genomics market covered in this report is segmented –
1) By Type: Molecular Engineering, Genetic Engineering, Genome Editing
2) By Trait: Yield Improvement, Disease Resistance, Herbicide Tolerance
3) By Technology: DNA And RNA Sequencing, Genotyping, Marker-Assisted Selection (MAS), Bioinformatics
4) By Application: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables
Subsegments:
1) By Molecular Engineering: Marker-Assisted Selection (MAS), Quantitative Trait Loci (QTL) Mapping, Gene Sequencing, Genotyping
2) By Genetic Engineering: Gene Cloning, Transformation Techniques, RNA Interference (RNAi), Transgenic Crop Development
3) By Genome Editing: CRISPR-Cas9, TALEN (Transcription Activator-Like Effector Nucleases), Zinc Finger Nucleases (ZFNs), Prime Editing
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How Are New Trends Expected To Influence The Growth Of The Plant Genomics Market?
Leading firms in the plant genomics market are concentrating on creating innovative solutions such as genomics technology platforms in order to boost crop yields and modify plant attributes. These platforms encompass state-of-the-art systems and protocols, e.g., Next Generation Sequencing (NGS), CRISPR/Cas9, and RNA sequencing, which permit a thorough examination of plant genomes. This facilitates strides in crop breeding, disease resilience, and amplified agricultural output. For example, Singrow Pte Ltd, an Agri-tech firm based in Singapore, introduced the first-ever climate-resilient strawberry variant utilizing cutting-edge genomics technology in February 2023. The goal of this breakthrough is to augment food security and sustainability in tropical zones through the enablement of high-volume strawberry farming, thus diminishing dependence on seasonal imports.
Who Are the Key Players in the Plant Genomics Market?
Major companies operating in the plant genomics market include:
• Agilent Technologies Inc.
• Illumina Inc.
• Eurofins Scientific SE
• NRGene Ltd.
• Keygene N.V.
• Neogen Corporation
• QIAGEN N.V
• LC Sciences
• TraitGenetics GmbH
• Novogene Corporation
• Oxford Nanopore Technologies Limited
• Genewiz Inc.
• BGI Group
• Genotypic Technology Pvt. Ltd.
• Floragenex Inc.
• Biome Makers Spain Inc.
• AgBiome
• GATC Biotech AG
• Bionano Genomics
• Verinata Health Inc.
• National Institute of Plant Genome Research
• Chinese Academy of Agricultural Sciences
• Japan International Research Center for Agricultural Sciences
• Korea Institute of Plant Biotechnology
• Institute of Plant Sciences Paris-Saclay
• Wageningen University & Research
• Ghent University
What Is The Most Dominant Region In The Plant Genomics Market?
Asia-Pacific was the largest region in the plant genomics market in 2024. The regions covered in the plant genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
