The Global Agrigenomics Market Demand Is Projected To Driven By Technological Advancements
The Global Agrigenomics Market is driven by technological advancements. Agrigenomics is the study of genome mapping and DNA sequencing in agriculture. It involves applying genomic tools to improve various traits in crops such as disease resistance, drought tolerance, and nutritional value. Agrigenomics techniques help breed better crop varieties with higher yields as they provide insights into a plant's genetic structure and function. Some common applications of agrigenomics include marker-assisted selection, genotyping, gene expression profiling, and genome sequencing.
The Global Agrigenomics Market is estimated to be valued at US$ 4.30 BN in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Key players operating in the Global Agrigenomics Market Size are BGI, Illumina, Inc., Eurofins Scientific SE, LGC Limited, Arbor Biosciences, Biogenetic Services Inc., Galseq Srl Via Italia, Thermo Fisher Scientific, Inc., Agilent Technologies Inc., and Tecan Genomics Inc.
Key Takeaways
Key players: BGI, Illumina, Inc. and Eurofins Scientific SE are some of the leading players in the global agrigenomics market. These companies offer a wide range of genetic tools and services for plant and animal crop improvement.
Growing demand: The growing demand for high-yield and drought/pest-resistant crop varieties from farmers is driving the adoption of agrigenomics techniques globally. Various agrigenomics services help address issues related to food security.
Global expansion: Leading agrigenomics companies are expanding their operations globally, especially in developing regions of Asia, South America, and Africa to tap the growing demand. Partnerships with various research institutes and seed producers are also helping gain foothold in new markets.
Market drivers
Technological advancements: Continuous upgrades in DNA sequencing technologies, genetic analytics tools, and big data solutions are enhancing agrigenomics applications. Reduced genomic profiling costs are further fueling adoption.
Increasing R&D spending: Growing investments by both private and public bodies in agrigenomic research related to new traits and varieties development is a key growth driver. Such initiatives open new opportunities.
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