SPATIAL GENOMICS TRANSCRIPTOMICS MARKET ANALYSIS

The market for global spatial genomics transcriptomics is expected to be valued at US$ 262.7 million in 2023 and is forecasted to reach a value of US$ 618.9 million by 2030, with a CAGR of 13.0% from 2023 to 2030. Factors contributing to market growth include advancements in drug discovery & development technologies, increasing funding for research & development in the field of genomics, and growth in the demand for spatial omics.

Spatial Genomics Transcriptomics Market Regional Insights

• North America is the largest market for spatial genomics transcriptomics, accounting for a market share of 40.0% in 2023. The growth of the market in North America is attributed to factors such as robust research financing, leading market players, unparalleled healthcare systems, and the swift embrace of spatial analysis methodologies will predominantly fuel growth in countries like the U.S. and Canada. Moreover, the rising prevalence of chronic diseases, such as cancer and infectious diseases in this region, is also expected to increase the demand for drug discovery and development, and thus, propelling the market growth in this region.
• Europe is the second-largest market for spatial genomics transcriptomics, accounting for a market share of 27.8% in 2023. The synergy between artificial intelligence and genomics is projected to expand its market stake upwards. The growth of the market in Europe is attributed to the growing demand for spatial omics, increasing applications in drug discovery & precision medicine, and the rising adoption of spatial transcriptomics techniques. In addition, increasing product launches and approvals are also expected to be a driving factor for the market in Europe.
• Asia Pacific is the third-largest market for spatial genomics transcriptomics, accounting for a market share of 23.7% in 2023. The growth of the market in Asia Pacific is attributed to be propelled by an evolving healthcare ecosystem and an inclination towards personalized healthcare. Moreover, increasing patient population in countries such as China, Japan, and India is also expected to propel the market growth in this region.

Figure 1. Global Spatial Genomics Transcriptomics Market Share (%), by Region, 2023

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Spatial Genomics Transcriptomics Market – Analyst’s Views:

The global spatial genomics transcriptomics market is expected to show significant growth over the forecast period. The increasing incidence of chronic diseases and cancer are the major growth drivers for this market. Additionally, technological advancements in spatial genomics techniques like multiplex fluorescence in situ hybridization (FISH) are enabling researchers to analyze gene expression at single-cell resolution. North America is expected to dominate the market owing to the presence of leading players and growing funding for genomics research in the U.S. However, Asia Pacific is projected to be the fastest growing regional market with increasing investments by governments as well as private players in countries like China and India to strengthen their genomic capabilities.

Spatial Genomics Transcriptomics Market Drivers:

• Increased R&D spending by government organizations: Both government and private entities are boosting investments in genomic and proteomics research, with a special emphasis on understanding the spatial organization of genes and their implications on cellular functions. This is expected to drive the market growth over the forecast period.
• Growing awareness about personalized medicine: Personalized medicine, which tailors medical decisions based on individual patient genomes, benefits immensely from spatial genomics. As the demand for personalized treatment grows, so does the importance of spatial genomics transcriptomics.
• Integration of Artificial Intelligence (AI) and Machine Learning (ML): Modern computational tools, especially AI and machine learning, have started playing an indispensable role in analyzing complex spatial genomics data, pushing the boundaries of what researchers can understand and predict about gene organization and function. This is expected to propel the market growth over the forecast period.
• Technological advancements in spatial genomics transcriptomics: Advancement in the field of spatial genomics and spatial transcriptomics are enabling researchers to more comprehensively map gene expression within tissue samples at an unprecedented resolution. Traditional methods of analyzing gene expression profiles average signals across entire tissues, but modern spatial techniques allow scientists to visualize expression patterns at the single-cell level within their natural tissue context. Technologies, such as spatial transcriptomics, utilize microscopic imaging techniques combined with nucleic acid probes or sequencing to characterize the transcriptomes of thousands of individual cells simultaneously while still spatially resolved within a tissue section. This has provided invaluable insights into heterogeneity between cell types and has helped uncover complex relationships between cell-cell signaling pathways in healthy and diseased tissues that were previously obscure using bulk analysis methods.

Spatial Genomics Transcriptomics Market Opportunities:

• Emerging markets: The emerging economies in Asia Pacific and Latin America present a great opportunity for growth in the spatial genomics transcriptomics market. These regions have sizable populations and strong economic growth projections which will positively influence healthcare spending in the coming years. Countries like India, China, Brazil, and Mexico already have large patient pools suffering from diseases where spatial genomics could provide insights. As incomes rise and access to healthcare increases across socio-economic strata in these developing markets, the demand for precision and personalized medicine is expected to surge.
• Education and training: There is a growing demand for skilled professionals in the field of spatial genomics. Establishing training programs, workshops, and courses can cater to this need, fostering growth in the market.
• Development of user-friendly software: As the field expands, there is an opportunity to develop more intuitive software platforms for data analysis, visualization, and interpretation in spatial genomics, making it accessible to a broader range of researchers

Spatial Genomics Transcriptomics Market Trends:

• Shift towards single-cell analysis: There is a growing trend in focusing on single-cell spatial genomics to obtain a more detailed understanding of individual cellular functions and their roles in complex tissues
• Automation of spatial genomics workflow: The automation of spatial genomics workflows is poised to significantly impact the spatial genomics transcriptomics market over the forecast period. Automation allows for higher throughput analysis which enables processing greater numbers of samples simultaneously. This increases efficiency and reduces costs per sample analyzed. It also helps address the current bottleneck of labor-intensive manual sample processing in spatial genomics.

Spatial Genomics Transcriptomics Market Restraints:

• High costs spatial genomics techniques: The technologies associated with spatial genomics transcriptomics often require substantial investment, potentially limiting access to these tools, particularly in emerging markets such as Africa, India, and others, or smaller research institutions. For instance, the NovaSeq 6000 Sequencing System, used during spatial genomics transcriptomics workflow, which is manufactured by llumina, Inc., a U.S.-based biotechnology company, and it cost around US$ 850,000 for a single unit.
• Stringent regulatory guidelines: Stringent regulatory guidelines are presenting significant challenges for the growth of the global spatial genomics transcriptomics market. Spatial genomics transcriptomics techniques involve genomic mapping and sequencing at high resolutions to capture expression patterns in tissues. However, these novel techniques utilize next generation sequencing and handle biological samples. This raises several regulatory concerns around safety, privacy, and ethics.

New product launches:

• In May 2023, 10x Genomics, Inc., a U.S.-based biotechnology company, announced that it has launched a new Visium CytAssist Gene and Protein Expression product to expand the capability of Visium CytAssist spatial analysis
• In February 2023, Curio Bioscience, a biotechnology company, announced that it has launched Curio Seeker, the world’s first high-resolution, whole-transcriptome spatial mapping kit

Collaborations:

• In October 2022, NanoString Technologies, Inc., a U.S.-based global biotechnology company, announced that it has collaborated with Visiopharm, an AI-based precision medicine provider, to accelerate the discovery of novel biomarkers and drug targets using the latest spatial imaging and machine learning technologies. Together, NanoString Technologies, Inc., and Visiopharm are developing integrated workflows leveraging the multiplexing capability of the GeoMx Digital Spatial Profiler (DSP) and the AI-driven image analysis capabilities of Visiopharm. NanoString’s new cloud informatics platform, the AtoMx Spatial Informatics Platform, will enhance the integration by providing scalable computing power with worldwide access.

Figure 2. Global Spatial Genomics Transcriptomics Market Share (%), by Type, 2023

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Top companies in Spatial Genomics Transcriptomics Market

• 10x Genomics
• NanoString Technologies, Inc.
• Bruker
• Illumina
• SciLifeLab
• Novogene Co., Ltd.
• PerkinElmer Inc.
• Akoya Biosciences, Inc.
• S2 Genomics, Inc.
• Visiopharm
• RareCyte
• Horizon Discovery Ltd.
• IONpath

Definition: Spatial genomics transcriptomics refers to a set of advanced techniques that enable the simultaneous analysis of both the spatial distribution of genetic material (transcriptomics) and the physical context within biological tissues. This approach provides insights into how genes are expressed within specific cells and regions of tissues, offering a deeper understanding of complex biological processes and their spatial organization.