Overview and Scope
Plant genomics refers to the study of the genetic make-up, organization, functions, and interactions or networks of an entire plant genome through sequencing, characterization, and analysis. It is used to obtain genome-level information on plant metabolism, physiology, and growth to develop new crop varieties.
Sizing and Forecast
The plant genomics market size has grown strongly in recent years. It will grow from $10.21 billion in 2023 to $11.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to increased funding for genomic research, crop yield optimization, climate change challenges, collaborations in research, consumer demand for sustainable agriculture.
The plant genomics market size is expected to see strong growth in the next few years. It will grow to $15.72 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to big data analytics in genomics, precision agriculture adoption, nutritional enhancement in crops, global food security concerns, gene expression studies. Major trends in the forecast period include crispr and genome editing technologies, advancements in sequencing technologies, big data and bioinformatics, crispr and genome editing, integration of omics technologies.
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The plant genomics market covered in this report is segmented –
1) By Type: Molecular Engineering, Genetic Engineering, Genome Editing
2) By Trait: Yield Improvement, Disease Resistance, Herbicide Tolerance
3) By Technology: DNA And RNA Sequencing, Genotyping, Marker-Assisted Selection (MAS), Bioinformatics
4) By Application: Cereals And Grains, Oilseeds And Pulses, Fruits And Vegetables
Asia-Pacific was the largest region in the plant genomics market in 2023. The regions covered in the plant genomics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increased demand for genetically modified plants is expected to propel the growth of the plant genomics market going forward. Genetically modified plants refer to biological plants that have undergone genetic modification utilizing recombinant deoxyribonucleic acid (DNA) technology. Plant genomics research benefits genetic plants by modifying their growth patterns or making them disease-resistant. Whenever a specific stretch of DNA is added to the plant’s genome, a genetically modified plant with new or different features arises. For instance, in January 2021, according to reports shared by the United States Department of Agriculture (USDA), a US-based federal agency, in 2021, Canada planted over 11.6 million hectares of genetically modified crops, primarily canola, soybeans, corn, sugar beets, and some alfalfa, an increase of 7% from 10.9 million in 2020. Additionally, in 2021, a whopping 95 % of the canola planted genetically modified. And 76 % of the soybeans planted in 2020 will be genetically modified. Therefore, increased demand for genetically modified plants is driving the growth of the plant genomics market.
Key Industry Players
Major companies operating in the plant genomics market report are Agilent Technologies Inc., Illumina Inc., Eurofins Scientific SE, NRGene Ltd., Keygene N.V., Neogen Corporation, QIAGEN N.V, LC Sciences, TraitGenetics GmbH, Novogene Corporation, Oxford Nanopore Technologies Limited, Genewiz Inc., BGI Group, Genotypic Technology Pvt. Ltd., Floragenex Inc., Biome Makers Spain Inc., Senda Biosciences Inc., AgBiome, NANOCELLECT BIOMEDICAL Inc., bitBiome Inc., GATC Biotech AG, Bionano Genomics, Verinata Health Inc., National Institute of Plant Genome Research, Chinese Academy of Agricultural Sciences, Japan International Research Center for Agricultural Sciences, Korea Institute of Plant Biotechnology, Institute of Plant Sciences Paris-Saclay, Wageningen University & Research, Ghent University
The plant genomics market report table of contents includes:
1. Executive Summary
2. Plant Genomics Characteristics
3. Plant Genomics Trends And Strategies
4. Plant Genomics – Macro Economic Scenario
5. Global Plant Genomics Size and Growth
…..
32. Global Plant Genomics Competitive Benchmarking
33. Global Plant Genomics Competitive Dashboard
34. Key Mergers And Acquisitions In The Plant Genomics
35. Plant Genomics Future Outlook and Potential Analysis
36. Appendix
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