Technological advancements in sequencing technologies, increasing application of spatial genomics and transcriptomics in biomarker identification and drug discovery, and increasing funding to expand R&D activities are key factors driving revenue growth of market

Market Size USD 178.4 Million in 2020, Market Growth at a CAGR of 18.1%, Market Trends Increasing prevalence of genetic disorders globally

The Global Spatial Genomics & Transcriptomics Market size is expected to reach USD 675.34 Million by 2028 at a CAGR of 18.1% over the forecast period, according to the latest report by Reports and Data. Key factors driving market revenue growth include increasing prevalence of genetic disorders and chronic conditions such as cancers, neurological disorders, and rare diseases, which have boosted need for high-resolution multiplex assays and instruments, and this is expected to further drive developments in spatial-based technologies. Increasing application of spatial genomics and transcriptomics for drug discovery and biomarker identification is also a key factor expected to drive revenue growth of market over the forecast period. Significant funding to expand R&D activities in the field of spatial-based technology is expected to support market growth going ahead.

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Spatial transcriptomics covers methods specifically designed to assign cell types to their specific locations across tissue samples. It allows determination of subcellular localization of mRNA molecules. Data obtained about spatial distribution of mRNA molecules allows researchers to study cellular heterogeneity in tissues, tumors, and immune cells. Spatial-profiling based solutions allows analysis of tissue microenvironment, tumor biology, and tissues biomarkers. Spatial genomics and transcriptomics offers key insights in the fields of oncology, immunology, cell and gene therapy, histology, and embryology.

Spatial genomics and transcriptomics are novel research fields that aim to fill the knowledge gap about cellular machinery, spatial organization, differentiations, and localization that occurs at genomic and transcriptomics level within each cell and in tissues. These techniques have significant potential in managing chronic and rare diseases and rising burden of chronic disease such as cancers and diabetes across the globe have boosted their application in drug discovery and development. This is expected to fuel revenue growth of market over the forecast period. However, lack of skilled professionals and low awareness about advanced spatial-based technologies can restrain market growth to a significant extent over the forecast period.

Some Key Highlights from the Report:

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For the purpose of this report, Reports and Data has segmented the global spatial genomics & transcriptomics market based on technique, product application, end-use industry, and region:

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Spatial Genomics & Transcriptomics Market Analysis by Size, Trends, Share, Key Country, Opportunities, Growth, Emerging Technologies, And Regional...