According to a market report by Lucintel, the future of the global agrigenomic market looks promising with opportunities in the crop and livestock markets. The global agrigenomic market is expected to reach an estimated $5.6 billion by 2028 with a CAGR of 8.2% from 2023 to 2028. The major drivers for this market are integration of agrigenomics into everyday agricultural practices, rise in funding for DNA/RNA sequencing projects, as well as continuous advancements in genomics and agricultural technology.
In this market, sanger sequencing, illumina HSEQ family, solid sequencers, and pacbio sequencers are different segments of agrigenomic market by sequencer type. Lucintel forecasts that illumina HSEQ family will remain the largest segment over the forecast period because it is a highly capable sequencing platform, which enables researchers to do genetic study of livestock and crops and also helps them to create novel crop and livestock breeds that exhibits enhanced productivity, resistance to diseases, and greater environmental sustainability.
Within this market, crops will remain the largest segment due to increasing adoption of genomic technologies by researchers to study the genetic composition of diverse crops, encompassing wheat, rice, corn, and soybeans, along with the utilization of CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) tools owing to their cost efficiency and advanced capabilities, including multiplexing functionality.
North America will remain the largest region over the forecast period because the U.S. market benefits from the involvement of major players in the sequencing arena, escalating investments in genome research and development, surge in healthcare infrastructure and expenditures, and continuous development of technological innovations in the region.
Illumina, Affymetrix, Genotypic Technology, Thermo Fisher Scientific, GalSeq SRL, SciGenom Labs, Edico Genome, Agilent Technologies, Eurofins Scientific, and Tecan Genomics are the major suppliers in the global agrigenomic market.
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