Fastest Growth in Plant Genomics Market in Coming Years
by Mit K. SEOThe plant
genomics market is estimated to be valued at USD 7.3 billion in 2019
and is projected to reach USD 11.7 billion by 2025, recording a CAGR of 8.3%.
The plant genomics market has high potential in emerging markets, such as Asia
Pacific, due to the increasing awareness about the possible ill-effects of GM
crops or food products in developing countries.
Based on application, the plant genomics market is segmented
into cereals & grains, oilseeds & pulses, fruits & vegetables, and
others. Among cereals & grains, rice, wheat, and corn are majorly bred
using plant breeding & sequencing techniques, to develop high-performing
varieties. Rice, along with wheat and corn, underpins the global food supply.
Field crop science (including breeding, pathology, and economics) has
contributed to a steady increase in crop productivity from decades through the
availability of better varieties and hybrids with more effective pest and
disease control and better production capacities. Molecular engineering
technique development for genetic analysis has led to a great upsurge in the
knowledge of cereal genetics and understanding of the structure and behavior of
cereal genomes.
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Based on objectives, the plant genomics market is segmented
into DNA/RNA sequencing, genotyping, market-assisted selection, gene expression
profiling, GMO-trait purity testing, DNA extraction & purification, and
other objectives. DNA/RNA sequencing is estimated to be the most popular
service required in the plant genomics market. The increasing number of samples
tested per machine run due to efficient technological developments have
encouraged companies to offer these services at cheaper costs. A common trend
witnessed for basic information sequencing in the agricultural industry and
among research professionals is to identify common markers such as plant height
for breeding purposes. However, with the evolution of plant genomics research,
the demand for genotyping tests is projected to surpass the demand for other
objectives by 2025.
By type, the plant genomic market is divided into molecular
engineering, genetic engineering, and others. The major plant breeders such as
Bayer (Germany), Monsanto (US), DowDuPont (US), and BASF (Germany) have
invested in plant breeding and been developing seed traits based on molecular breeding
and genetic engineering techniques. Moreover, the favorable regulatory
environment for GM crops in the US has encouraged plant breeders to adopt
biotechnological methods at a larger scale in the country. The use of genetic
engineering techniques for corn and soybean breeding is the highest in the US,
while the adoption of molecular breeding techniques in Canada has been slowly
rising.
The key players in various countries of the Asia Pacific
region are focusing on directing their investments toward biotechnology
research on food crops and crops of high commercial value to cater to the
increasing food requirements and to reduce poverty, particularly among
resource-poor farming households. The expansion of biotech crop area in these
countries has led to the increasing adoption of plant genomic techniques, such
as genetic engineering and DNA sequencing. Due to these factors, the market in
the Asia Pacific region is projected to record the highest growth from 2019 to
2025.
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This report includes a study on the marketing and
development strategies, along with a study on the product portfolios of the
leading companies operating in the plant genomics market. It includes the profiles
of leading companies such as Eurofins Scientific (Luxembourg), Illumina, Inc.
(US), NRGene (Israel), Neogen Corporation (US), Qiagen (Germany), Agilent
Technologies (US), KeyGene (Netherlands), LC Sciences (US), Traitgenetics GmbH
(Germany), Novogene Corporation (China), Oxford Nanopore Technologies (UK),
Genewiz (US), BGI Genomics (China), Genotypic Technologies (India), and
Floragenex (US).
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Created on Jan 20th 2021 05:31. Viewed 277 times.