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Spatial Genomics and Transcriptomics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 112 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5176389
UP TO OFF until Sep 30th 2023

Quick Summary:

In an ever-evolving healthcare industry, keeping abreast of advancements is crucial. With the burgeoning potential of spatial genomics and transcriptomics to revolutionize diagnoses, particularly in the cancer domain, it is essential to understand its trajectory and scope. Market analysis reveals a robust growth forecast, as enhanced understanding of diseases, driven by superior diagnostic tools, accelerates the drive towards more personalized and effective treatments.

Our market research report offers unparalleled insights into the ongoing developments and predominant trends steering the spatial genomics and transcriptomics market. Emphasizing the market growth dynamics, the report elucidates the potential of spatial genomic analysis as a cancer diagnostic tool and the impact of an increasing number of product launches aimed at advancing this technology. Stay ahead of the curve by investing in this comprehensive report, revealing how this segment is shaping the future of disease diagnosis and treatment.

During the time frame of the forecast, the spatial genomics and transcriptomics market is expected to register an annual rate of 8.2%.
COVID-19 had a notable impact on the spatial genomics and transcriptomics markets during the pandemic period. The growing use of spatial genomics and transcriptomics in COVID-19 diagnosis to obtain appropriate treatments, as well as the development of COVID-19 prevention strategies, has had a significant impact on market growth.For instance, the article published in Nature in March 2021 mentioned that spatial transcriptomic data from COVID-19 patient autopsy tissues revealed distant ACE2 expression loci with macrophage and neutrophil infiltration in the lungs. The article also mentioned that these findings can inform public health and may help develop and drive SARS-CoV-2 diagnostic and prevention treatment strategies. Such increased adoption of spatial genomics and transcriptomics in the diagnosis of COVID-19 had a notable impact on the growth of the market during the pandemic period. Also, the demand for spatial genomics and transcriptomics is expected to remain intact due to the emergence of mutant strains of the COVID-19 virus during the post-pandemic period, thereby contributing to the growth of the market over the forecast period.

The spatial genomics and transcriptomics market is expected to grow owing to the emerging potential of spatial genomic analysis as a cancer diagnostic tool and the advent of the fourth generation of sequencing. For instance, in the Frontiers Journal article published in October 2022, spatial transcriptomics was described as a benefit for identifying and comprehensively understanding special spatial areas such as tumor interfaces and tertiary lymphoid structures. The report also mentioned that spatial transcriptomics also showed great potential to improve pathological diagnosis and identify novel prognostic factors in cancer. Such benefits of spatial genomics and transcriptomics for the detection of cancer are expected to drive the growth of the studied market.

Also, the increasing product launches and investments by various market players to develop advanced spatial genomics and transcriptomics technologies are expected to fuel the market's growth rate. For instance, in June 2022, 10x Genomics announced a series of product updates, such as Chromium, Visium, Xenium, and others, that will be presented at the 2022 AGBT general meeting in Orlando. Also, in February 2022, Fulgent Genetics invested in Spatial Genomics Inc. to develop the company's multi-omics platform and seqFISH technology for Fulgent's comprehensive suite of genomic testing solutions.

However, slow implementation of technology and well-established workflows for conventional genomics and transcriptomics analysis are expected to hinder market growth.

Spatial Genomics & Transcriptomics Market Trends

Consumables Segment is Expected to Witness Healthy Growth During the Forecast Period

Spatial genomics and transcriptomics consumables are expected to hold a significant share of the market over the forecast period owing to the rising number of cancer cases, as the consumables play a vital role in the advanced diagnosis of cancer. As per the World Health Organization factsheet published in February 2022, in 2021, there were an estimated 1.9 million new cancer cases diagnosed in the United States. The report also mentioned that each year, approximately 400 000 children develop cancer, and cervical cancer is the most common in 23 countries. The most common cancers are breast, lung, colon, rectum, and prostate cancers. Thus, the high burden of cancer cases is expected to drive demand for consumables, thereby fueling segment growth.

Also, the increasing market player activities, such as product launches, partnerships, and collaborations, are expected to contribute to the growth of the studied segment. For instance, in October 2022, Oxford Nanopore Technologies collaborated with 10x Genomics to make single-cell and spatial full-length isoform transcript sequencing consumables accessible to any laboratory. Such partnerships to develop advanced consumables are also expected to contribute to the growth of the studied segment.

Thus, the rising cancer cases and increasing strategies of market players are expected to contribute to the growth of the studied segment.

North America is Anticipated to Hold Significant Share in the Spatial Genomics and Transcriptomics Market Over the Forecast Period

North America is expected to hold a notable share of the market due to the increasing adoption of solutions for spatial profiling in cancer research, coupled with a rising focus on genomics-based R&D. The increasing investment by both government and private companies in the region also helps in the growth of the overall market. The largest share is attributed to massive investments in cancer research to address the high demand for advanced diagnostic and treatment methods in the United States.

For instance, according to the ACS, in 2021, there were an estimated 1.9 million new cancer cases diagnosed in the United States. In addition, according to the Public Health Agency of Canada data published in October 2021, an estimated 2 in 5 Canadians were diagnosed with cancer in their lifetime, and in 2021, an estimated 229,000 Canadians were diagnosed with cancer. The report also mentioned that lung, breast, colorectal, and prostate cancers were expected to remain the most commonly diagnosed cancers, accounting for 46% of all diagnoses in 2021. Such a high burden of cancer cases in North American countries is expected to drive the demand for advanced diagnostics such as spatial genomics and transcriptomics, thereby contributing to the growth of the market.

Also, the initiation by several general hospitals and other concerned organizations in the area of preventive disease through genomics will complement the growth of the market, as will newer advances and product launches. For instance, in November 2021, Illumina and the Genetic Alliance launched a USD 120 million global initiative to increase equity and improve outcomes for families affected by genetic diseases. Also, in March 2022, the National Institute of Health announced it had a dataset of nearly 100,000 highly diverse whole-genome sequences. This indicates that government organizations have a large focus on genomics in North America, thereby fueling the growth of the market over the forecast period.

Spatial Genomics & Transcriptomics Market Competitor Analysis

The spatial genomics and transcriptomics market is moderately fragmented and has a considerable number of companies that are significantly contributing to market growth. The key market players include 10x Genomics, Dovetail Genomics, Illumina, S2 Genomics, NanoString Technologies, and Seven Bridges Genomic.

Additional benefits of purchasing the report:

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Emerging Potential of Spatial Genomic Analysis as Cancer Diagnostic Tool
4.2.2 Increasing Advanced Technologies of Spatial Genomics and Transcriptomics
4.2.3 Advent of Fourth Generation of Sequencing
4.3 Market Restraints
4.3.1 Slow Implementation of Technology
4.3.2 Well-Established Workflows for Conventional Genomics and Transcriptomics Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Technology
5.1.1 Spatial Transcriptomics
5.1.2 Spatial Genomics
5.2 By Product
5.2.1 Instruments
5.2.2 Software
5.2.3 Consumables
5.3 By End-User
5.3.1 Pharmaceutical Manufacturer
5.3.2 Diagnostic Customers
5.3.3 Others
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 10x Genomics
6.1.2 Advanced Cell Diagnostics, Inc. (ACD)
6.1.3 Akoya Biosciences, Inc
6.1.4 Bio-Techne
6.1.5 Dovetail Genomics
6.1.6 Fluidigm
6.1.7 Horizon Discovery Group plc
6.1.8 Illumina, Inc.
6.1.9 NanoString Technologies, Inc.
6.1.10 Naterac Inc.
6.1.11 S2 Genomics, Inc.
6.1.12 Seven Bridges Genomics

Companies Mentioned

A selection of companies mentioned in this report includes:

  • 10x Genomics
  • Advanced Cell Diagnostics, Inc. (ACD)
  • Akoya Biosciences, Inc
  • Bio-Techne
  • Dovetail Genomics
  • Fluidigm
  • Horizon Discovery Group plc
  • Illumina, Inc.
  • NanoString Technologies, Inc.
  • Naterac Inc.
  • S2 Genomics, Inc.
  • Seven Bridges Genomics