AGRIGENOMICS MARKET TO REACH USD 19.9 BILLION BY 2027 | CAGR 6.7% — FORENCIS RESEARCH
Global Agrigenomics Market: Key Highlights
- According to the new market research report “Agrigenomics Market by Type of Sequencing (PCR based, Whole Genome, Hybridization-based, Restriction Digest, Others), by Service Offering (Gene Expression Profiling, DNA Fingerprinting, Genotyping, Genetic Purity Assessment, Trait Purity Analysis, Others) by Application Livestock, Crops),by Region (Asia Pacific, Europe, Middle East & Africa, South America, North America) — Global Forecast (2020 to 2027)”, the global agrigenomics market is estimated to reach USD 19.9 Billion by 2027 at a CAGR of around 6.7% during the review period.
- Agrigenomics the application of genomics in agriculture to improve productivity and sustainability in crop and livestock production. It is also known as agriculture genomics
- NGS technique is widely used as it is cost-effective and efficient tool for genotype screening, purity testing, gene mapping, screening backcross lines, performing association mapping, constructing haplotype maps and genomic selection
- Agrigenomics offers solutions to the mounting challenges of feeding the global population
Global Agrigenomics Market: Key Market Dynamics
- Technological advancement in sequencing methods has expected to boost the demand for agrigenomics market during the forecasted period
- Rising funds towards research & agrigenomics have fueled the adoption of novel technologies which has anticipated to boost the market growth
- Stringent government regulation imposed over the production of genetically modified crops are hindering the growth of the global Agrigenomics market
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Global Agrigenomics Market: Regional Overview
- North America
North America is anticipated to hold the largest share in agrigenomics market during the forecasted period. This is attributed to the strong presence of agriculture industries and rising investment by key players. Increasing adoption of agrigenomics due to its ability to reduce the usage of harmful pesticides by enhancing the resistant power during the initial stages. The adoption is majorly done to overcome the usage of pesticides. Moreover, Strong Research & Development, an innovation of new technologies coupled with the increasing merger and acquisition (M&A) activities are the major factors which are fueling the market growth
The Asia-Pacific is anticipated to be the fastest-growing region in the agrigenomics market during the forecasted period due to increasing government investment in the field of genomic export of crops. Research in this filed is growing in emerging countries such as Japan, China, and India as a research institute and industry players are merging to unwind the complex genomics profiles. For instance, in November 2016, NRGene was the first organization to assemble the genome structure of a commercially grown strawberry. The genome was sequenced using Illumina sequencing technology and assembled by NRGene’scloud-basedDeNovoMAGIC 3.0 software.
Global Agrigenomics Market: Key Players Overview
- Eurofins Scientific:
Eurofins Scientificis and Europe-based company engaged in providing testing and support services to environment, food, pharmaceutical, and cosmetic products. The company operates through more than 900 companies and more than 800 laboratories in over 50 countries across the globe.Eurofins Scientific offers a wide product portfolio of over 200,000 analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products, as well as for innovative clinical diagnostics.
- Agilent Technologies, Inc:
Agilent Technologies, Inc is a US-based company engaged in manufacturing of analytical instruments. The company focuses on six key markets including food, environmental &forensics, pharmaceutical, diagnostics, chemical & energy, and research. Agilent CrossLab, Doka Agilent Pathology Solutions, and AgilentInfinityLAb are the strategic brand of the company under which its products ate been marketed.
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