Overview and Scope
Agrigenomics is the application of genomics in agribusiness to improve livestock and agricultural yield and sustainability. These allow the crop to yield better and help in production.
Sizing and Forecast
The agrigenomics market size has grown rapidly in recent years. It will grow from $3.89 billion in 2023 to $4.34 billion in 2024 at a compound annual growth rate (CAGR) of 11.6%. The growth in the historic period can be attributed to increasing demand for sustainable agriculture, rising population and food demand, government initiatives and funding, growth in precision farming practices, collaborations and partnerships.
The agrigenomics market size is expected to see rapid growth in the next few years. It will grow to $6.61 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The growth in the forecast period can be attributed to increasing climate change challenges, expanding applications of genomic data, growing adoption of big data analytics, global focus on sustainable agriculture, continued government support. Major trends in the forecast period include sustainable agricultural practices, development of new technologies, innovative technologies, government funding and investments.
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Segmentation & Regional Insights
The agrigenomics market covered in this report is segmented –
1) By Service Offerings: Genotyping, DNA Fingerprinting, Assessment of Genetic Purity, Trait Purity Assessment, Gene Expression Analysis, Other Service Offerings
2) By Technology: Real-Time PCR (qPCR), Microarrays, Next Generation Sequencing, Capillary Electrophoresis, Other Technologies
3) By Sequencer Type: Sanger Sequencing, Illumina Hi Seq Family, Pacbio Sequencers, Solid Sequencers, Other Sequencer Types
4) By Application: Crops, Livestocks
North America was the largest region in the agrigenomics market share in 2023. The regions covered in the agrigenomics 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 exponential increase in the world population is significantly contributing to the growth of the agrigenomics market going forward. Expanding population is increasing the demand for more productive and more sustainable farming. Agrigenomics also aids in the production of more nutrient-dense meals and the growth of huge quantities of food in a small area which helps in sustaining the increasing population. For instance, in 2022, according to data from the United Nations, a US-based intergovernmental organization whose stated purposes are to maintain international peace and security, the global population is projected to grow to 8.5 billion in 2030 and to 9.7 billion in 2050. Therefore, an exponential increase in the world population will drive the agrigenomics market.
Key Industry Players
Major companies operating in the agrigenomics market report are Agilent Technologies Inc., Agrigenomics Inc., Biogenetic Services Inc., Eurofins Scientific SE, Galseq Srl, Illumina Inc., LGS Limited, Neogen Corporation, Thermo Fisher Scientific Inc., Zoetis Inc., Pacific Biosciences f California Inc., NuGEN Technologies Ltd., UD-GenoMed Limited, Arbor Biosciences LLC, Tecan Genomics Inc., BGI Group, Bio-Rad Laboratories Inc., Charles River Laboratories International Inc., Danaher Corporation, DNA LandMarks Inc., Dovetail Genomics LLC, F. Hoffmann-La Roche AG, Fluidigm Corporation, Front Range Biosciences Inc., Genotypic Technology Pvt Ltd., GENEWIZ Inc., Inari Agriculture Inc., Intrexon Corporation, Kbiosystems Ltd., KeyGene NV, LC Sciences LLC, NRGene Ltd., Oxford Nanopore Technologies Ltd., Qiagen NV, Saphyrion Inc., SeqLL Inc., Zymo Research Corp.
The agrigenomics market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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