(EMAILWIRE.COM, March 27, 2020 ) Market Overview
The Global Agrigenomics market is expected to grow at a CAGR of 8% during the forecasting period (2019-2026).
Agriculture genomics is an application of genomics in agriculture to improve productivity and sustainability in crop production. Genomics can reduce the trails associated with scientific research, which could, in turn, improve the quality and quantity in crop yield. Various Agrigenomics
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Change in environmental & soil condition over the last few years has imposed unique challenges over the agriculture industry. To address the global demand for food, agricultural researchers, farmers, breeders are adopting genomics or DNA science to optimize production. Genomics, bioinformatics and genome editing are the key technologies used by the research organizations. These research organizations are majorly focused on producing sustainable crop/seed technology suitable for future generations. Soil scientists are utilizing next-generation sequencing for the development of complete characterization of soil microbial communities to allow better prediction of soil health. The seed lines produced through usage of gene modification possess a unique ability to increase farm productivity through minimum input. The additional properties associated with these modified crops include drought tolerance and disease resistance. Furthermore, the growing commercial production of crops and establishments of commercial farms is expected to increase the adoption rate of agrigenomics during the forecast period.
However, stringent government regulations imposed over the production of genetically modified crops is hindering the growth of the Global Agrigenomics market.
The global agrigenomics market is segmented based on the process into microarray analysis, sequencing, genotyping, bioinformatics, and others.
Next-generation sequencing techniques has been growing at a stagnant pace owing to the growing demand for sequencer possessing the ability to sequence a large number of samples at a lower cost. The next-generation sequencer is being used as a tool for assembly of crop reference genomes, Transcriptome sequencing for the study of gene expression and whole genome molecular maker development. Typical plant breeding programs based on phenotyping and growing awareness among the communities regarding the genetic background of agrotraits led to increased demand towards genotype-based selection. Agricultural researchers are increasingly adopting next-generation sequencing technology as an essential research and development tool in plant and animal genomics. Currently Illumina, Thermo Fisher Scientific, Pacific Biosciences, BGI, and many other companies are providing Next-generation sequencing for agricultural practices.
Market Geographical Analysis
By region, the global agrigenomics market is segmented into North America, South America, Europe, Asia-Pacific, Middle-east and America.
North America dominates the global agrigenomics market owing to high presence of agricultural industries and growing investment by the key manufacturers in agrigenomics. However, Asia-Pacific is expected to grow at a higher pace owing to the high presence of research and development institutes and growing initiates by major crop companies for the development of genetically modified crops. An increase in funding from the government organization for plant genome research in agricultural organizations and research institutes is further expected to boost the market during the forecast period. China public funding for agricultural research reached more than USD 10 billion supporting more than 1100 agricultural research institutes.
Market Competitive Analysis
This market is predicted to foresee technological advancements in sequencing and gene mutations owing to ongoing research activities and it is expected to boost the growth of agronomics during the forecast period. Some of the key players in the global agrigenomics market include LC Sciences, LLC., AgriGenome Labs Pvt. Ltd, and ArrayGen Technologies Pvt. Ltd.
Agrigenomics market is witnessing significant investments from venture capitalists into startups. For instance, in March 2019, Spero ventures invested USD 3 million in Gencove, one of the leading players in the low-pass genome sequencing platform for the development of new applications for agricultural markets. In January 2015, Affimetrix launched Axiom Porcine Genotyping Assay with more than 600,000 markers in plant and Genome Conference as part of agrigenomics portfolio expansion.
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