The Agrigenomics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Agrigenomics Global Market Report 2024, 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.
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.
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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
Technological advancements are the key trend gaining popularity in the agrigenomics market. Major companies operating in the agrigenomics market are focusing on developing new technologies for improving genomic studies and enhancing the current platforms for agrigenomics. For instance, In May 2022, NEOGEN Corporation, a Switzerland-based food safety company, and Gencove, an Indian-based company that provides low-pass whole genome sequencing and analysis software company, launched InfiniSEEK. It is an innovative, less costly solution for whole genome sequencing and targeted SNP analysis. With the launch of this new solution customers now have a data-rich, economical way to classify cattle all across the world using genome-wide sequence data, specific genetic features, and parentage markers simultaneously.
The agrigenomics market report table of contents includes:
- Executive Summary
- Agrigenomics Market Characteristics
- Agrigenomics Market Trends And Strategies
- Agrigenomics Market – Macro Economic Scenario
- Global Agrigenomics Market Size and Growth
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- Global Agrigenomics Market Competitive Benchmarking
- Global Agrigenomics Market Competitive Dashboard
- Key Mergers And Acquisitions In The Agrigenomics Market
- Agrigenomics Market Future Outlook and Potential Analysis
- Appendix
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