Agrigenomics Market to Grow with a CAGR of 8.68% through 2028
Technological advancements in sequencers technology and growing demand
for genomic databases by livestock breeders is expected to drive the Global Agrigenomics
Market growth in the forecast period, 2024-2028.
According to TechSci Research report, “Agrigenomics Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2028”,
the Global Agrigenomics Market stood at USD 3.75 Billion in 2022 and is
anticipated to grow with a CAGR of 8.68% in the forecast period, 2024-2028. The global
agrigenomics market is driven by several key factors. The rising global
population and the accompanying demand for increased food production is a
significant driver. Advancements in genomic technology, including
next-generation sequencing and high-throughput genotyping, are facilitating
rapid, accurate crop and livestock analysis, boosting market growth.
The escalating need for sustainable agriculture practices and the desire
to enhance crop quality and yields are propelling the use of agrigenomics.
Government initiatives and funding in agricultural research are further
supporting the growth of this market.
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The global agrigenomics market is experiencing
significant growth due to rapid technological advancements and the increasing
demand for high-quality agricultural products across the globe. This market
encompasses a wide range of services, including genotyping, gene expression
profiling, marker-assisted selection, GMO/Trait Purity, and many more, catering
to the diverse needs of farmers and agricultural stakeholders. Both developed
and developing countries are heavily investing in agrigenomics technologies to
enhance their agricultural productivity and sustainability. With the world's
population continuously growing, the need for food security is becoming even
more critical. As a result, the demand for advanced agrigenomics solutions is
on the rise, empowering farmers to optimize crop yields, improve disease
resistance, and enhance overall plant performance. By leveraging cutting-edge
genetic tools and techniques, the agrigenomics industry is paving the way for
more efficient and sustainable agricultural practices.
Furthermore, the global agrigenomics market is
projected to maintain its upward trend in the foreseeable future. As new
innovations emerge and research continues to unravel the complexities of plant
genetics, the potential for further advancements in this field is immense. The
integration of agrigenomics into mainstream agricultural practices holds great
promise for addressing global food challenges and ensuring a more resilient and
secure food supply chain. The thriving agrigenomics market plays a crucial role
in shaping the future of agriculture, offering a wide array of services that
contribute to improved crop quality, enhanced productivity, and sustainable
farming practices. With the ongoing advancements in agrigenomics, we can expect
to witness transformative changes in the global agricultural landscape. These
developments will not only allow us to overcome the challenges of feeding a
growing population but also ensure the long-term sustainability of our planet.
By delving deeper into the genetic makeup of plants,
agrigenomics enables us to unlock valuable insights about their traits, disease
resistance, and nutritional value. This knowledge empowers farmers and breeders
to make informed decisions, leading to the development of superior crop
varieties that are better adapted to changing environmental conditions.
Moreover, agrigenomics facilitates precision agriculture, allowing farmers to
optimize their resource utilization, reduce waste, and minimize the environmental
impact of their practices.
In addition, the application of agrigenomics in crop
breeding and improvement opens up new avenues for innovation. By leveraging
cutting-edge technologies such as gene editing and genomic selection,
researchers can accelerate the development of high-yielding and resilient crop
varieties. This not only benefits farmers but also contributes to global food
security by ensuring a more stable and abundant food supply. The potential of
agrigenomics is vast. It holds the key to unlocking sustainable solutions for feeding
the world's growing population while preserving our natural resources. By
harnessing the power of genetics and genomics, agrigenomics paves the way for a
future where agriculture is more resilient, efficient, and environmentally
friendly. With continued investment in research and collaboration between
academia, industry, and policymakers, we can unleash the full potential of
agrigenomics and usher in a new era of sustainable agriculture.
The Global Agrigenomics Market is segmented into purpose,
sequencer type, application, regional distribution, and company.
Based on sequencer type, the Illumina HI SEQ Family
has established its dominance in the Global Agrigenomics Market through its
exceptional high-throughput sequencing capabilities and unparalleled accuracy
in delivering results. These advanced sequencers not only offer a wide range of
applications, including genotyping and whole-genome sequencing, but also play a
pivotal role in driving research and development activities within the
agrigenomics sector. Their ability to provide detailed insights into the genetic
makeup of various agricultural organisms has revolutionized the field, enabling
scientists and researchers to make significant advancements in crop
improvement, disease resistance, and sustainable agricultural practices. With
their cutting-edge technology and innovative solutions, the Illumina HI SEQ
Family continues to shape the future of agrigenomics and contribute to the
global efforts in ensuring food security and sustainable agricultural
development.
Based on region, North America holds a dominant
position in the global agrigenomics market due to a combination of factors.
These include the presence of advanced agricultural technologies, such as
precision farming techniques and automated machinery, which have revolutionized
farming practices in the region. Additionally, North America boasts robust
research and development infrastructures, with world-class universities and
research institutions dedicated to advancing genomics-based research in
agriculture.
Moreover, substantial government support for
genomics-based research initiatives has further bolstered North America's
position in the agrigenomics market. Governments at various levels provide
funding, grants, and incentives to promote innovation in genomics and
agricultural sciences. This support enables researchers to explore new
frontiers in crop improvement, disease resistance, and sustainable farming
practices. Furthermore, North American farmers have shown high adoption rates
of innovative agricultural solutions, embracing genomics-based technologies to
optimize crop yields, improve livestock health, and enhance overall farm
productivity. This widespread adoption has not only accelerated the application
of genomics in agriculture but also created a conducive environment for further
research and development. Considering these factors, it is evident that North
America's dominance in the global agrigenomics market is well-founded and
poised for continued growth in the years to come.
Major companies operating in Global Agrigenomics Market
are:
- Illumina, Inc.
- Thermo Fischer Scientific, Inc.
- Agilent Technologies, Inc.
- Eurofins Scientific SE
- LGC Limited
- Tecan Genomics, Inc.
- Neogen Corporation
- Galseq Srl Via Italia
- Biogenetic Services' Inc.
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“The future of the Global Agrigenomics Market appears
incredibly promising, with expectations of significant growth. This sector is
likely to experience a surge, powered by technological advancements in genomic
research and an increasing global demand for high yield crops. With the world's
population projected to reach 9.7 billion by 2050, the pressure on agricultural
productivity is immense. Agrigenomics, with its DNA sequencing and genotyping
technologies, is poised to revolutionize the way we understand plant and animal
genomes, leading to more resilient, nutritious, and sustainable crops.
Furthermore, the implementation of agrigenomics offers potential solutions to
key global challenges such as climate change and food security, propelling its
importance in the coming years.,” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Agrigenomics Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028 Segmented By Purpose (DNA
Extraction & Purification, DNA/RNA Sequencing, Genotyping, Gene Expression
Profiling, GMO/Trait Purity Testing, Others), By Sequencer Type (Sanger
Sequencing, Pacbio Sequencers, Solid Sequencers, Illumina HI SEQ Family,
Others), By Application (Livestock and Crops), By Region and Competition”, has evaluated
the future growth potential of Global Agrigenomics Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Agrigenomics Market.
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