Agrigenomics Market worth 13.56 Bn USD by 2021

Thursday 15 September 2016, Amsterdam

The report, now available on ASDReports, "Agrigenomics Market by Application (Crops, and Livestock), Sequencer Type (Illumina HiSeq, PacBio, Sanger, SOLiD), Objective (Extraction, Sequencing, Genotyping, Gene Expression, MAS, GMO/Trait Purity), and Region - Global Forecast to 2021", The agrigenomics market is projected to reach USD 13.56 Billion by 2021, at a CAGR of 7.8% from 2016. The market is driven by advancements in genomic technologies with various post-sequencing analysis techniques and strong government support in developed countries.

“Crops dominated the application segment for agrigenomics market in 2015”

Crops dominated the application segment for agrigenomics market followed by livestock in 2015.Due to the strong intention of government to support crop productivity such as the U.S. Department of Agriculture (USDA) project on reduced-gluten grains, there has been strong research in the area of crop development. The application of agrigenomics in the livestock sector has been limited to certain tests such as genetic disease identification and parentage testing. However, better growth is projected in the area of livestock breeding due to the rise in demand for genomic databases by livestock breeders.

“Technological advancements in marker-assisted selection are projected to upgrade agrigenomic services”

The advent of advanced technologies such as automation and high-throughput systems has generated keen interest among researchers for adopting next-generation systems in the agrigenomics field. Reduction in time (due to high-speed sequencing output) for nucleic acid sequencing has decreased the cost of DNA sequencing procedures. This, in turn, has reduced the overall cost of genomic research projects. Thus, declining sequencing price is expected to favorably impact the adoption of next-generation sequencing for faster, cheaper, and accurate results, even though these machines are very expensive. Marker-assisted selection and breeding is projected to be the fastest-growing research objective from 2016 to 2021. Thus, research communities in developed markets have opted for technology upgradation in advanced agrigenomics research activities such as genetic disease elimination, targeted resequencing, and marker-assisted selection and breeding.

“Asia-Pacific is projected to be the fastest-growing region in the market”

Even though the government support has been overwhelming in the developed countries of Europe and North America, and certain Asia-Pacific countries (such as South Korea and Japan), research institutes and laboratories in emerging markets have been facing shortage of funds to conduct advanced research in agrigenomics activities and provide client services. In fact, the growth in the region is driven by various rules and regulations. Strong demand is projected in order to collect database from basic services such as sequencing, genotyping, and parentage tests which can be used to analyze the performance traits in animals for effective decisions on animal breeding. Such investments encourage key players to bring in technological innovations for agrigenomic services in the Asia-Pacific region.

This report includes a study of marketing and development strategies, along with the product portfolio of key service providers. It includes the profiles of leading companies such as Thermo Fisher Scientific, Inc. (U.S.), Agilent Technologies, Inc. (U.S.), Illumina, Inc. (U.S.), Eurofins Scientific SE (Luxembourg), and LGC Limited (U.K.).