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The spatial genomics and transcriptomics market is estimated to be worth $4.7 billion in 2022 and is expected to grow at compounded annual growth rate (CAGR) of 11.9% during the forecast period. Since the discovery of the first human genetic map in 1987, the field of omics-based analysis has evolved significantly. Researchers have focused their efforts from decoding the primary sequence of genes to analyzing the location and interaction of cell types, and biomarkers (primarily, DNA, RNA and proteins), through a process known as spatial phenotyping.
The traditional molecular profiling analytical techniques, such as microarrays quantitative polymerase chain reaction (qPCR), flow cytometry, mass spectrometry, immunohistochemistry and enzyme linked immunosorbent (ELISA) assay, though widely adopted, are known to dissociate the tissue samples, thereby causing loss of critical spatial multi-omics information across the genome, transcriptome, and proteome. This unmet need in the life sciences research market has prompted innovators to amalgamate cell imaging and molecular profiling techniques to enable visualization, as well as high-throughput quantification of the cells and biomarkers within the tissue samples.
The solutions (that include platforms, along with affiliated reagents and software applications) enable the researchers to further advance and scale their research, by offering a better understanding of the disease morphology, discover novel biomarkers and develop precision therapies. Additionally, these spatial phenotyping platforms can be seamlessly integrated with the current NGS-workflows. Therefore, the adoption of these novel devices to scale research from discovery to translational and clinical phases, is on the rise. In fact, according to a recent survey, approximately 44% of respondents expressed their intent to purchase a spatial profiling platform. In the same year, a research study, published in JAMA Oncology, emphasized the superiority of spatial phenotyping methods for the biomarker analysis in patients suffering from immuno-oncological diseases. Further, Nature Methods dubbed Spatial Transcriptomics as “Method of the Year” for 2020.
In order to capitalize the growing opportunity within this niche market, the developers of spatial genomics and transcriptomics solutions are engaged in efforts to improve the penetration of their proprietary technologies, within the diverse client base, including academic research centers, research institutes and biopharma companies. As a result, they are engaged in incorporating advanced features to their devices, including machine learning-based image analysis, automated sample processing, high-multiplexing, and biomarker-specific gene panels (including those associated with SARS-CoV-2). At the same time, the cost of running these complex tests has dramatically decreased in recent years; the spatial analysis of high-plex stained panels now costs USD 1,000 per slide, which is similar to the cost of whole genome sequencing by NGS. Further, these instruments are designed to be capable of processing formalin-fixed paraffin embedded (FFPE) tissue sample. This feature is important because nearly 80% of the translational research studies, that use tissue samples, are dependent on the aforementioned sample type. Few players have also introduced customized access programs for biopharmaceutical players, enabling them to leverage spatial omics technologies, for the purpose of guiding their drug development programs. Driven by the growing adoption and continuous innovation of spatial biology solutions, we are led to believe that the opportunity for spatial profiling solution providers is likely to witness a sustained market growth over the forecast period.
Examples of key companies engaged in spatial genomics and transcriptomics market (which have also been profiled in this market report; the complete list of companies is available in the full report) include 10x Genomics, Akoya Biosciences, Bruker, Canopy Biosciences, Lunaphore Technologies, Molecular Machines & Industries (MMI), Resolve Biosciences, NanoString Technologies and Vizgen. This market report includes an easily searchable excel database of all the companies providing spatial genomics and transcriptomics solutions, worldwide.
Several recent developments have taken place in the field of spatial genomics and transcriptomics. We have outlined some of these recent initiatives below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that have been outlined in our analysis.
The “Spatial Genomics and Transcriptomics Market by Type of Solution (Instruments, Consumables and Services), Type of Sample (DNA, RNA and Proteins), End Users (Pharmaceutical and Biotechnology Companies, and Academic and Research institutes), Research Areas (Oncology, Immunology, Neurology, Infectious and Others), and Key Geographical Regions (North America, Europe, and Asia-Pacific and the Rest of the World): Industry Trends and Forecasts, 2022-2035” market report offers an extensive study on the current market landscape, market size, market share, market forecast, market outlook and future opportunities for the spatial genomics and transcriptomics market. The market research report underlines an in-depth analysis, highlighting the diverse capabilities of various industry stakeholders engaged in spatial genomics and transcriptomics. Amongst other elements, the market report includes:
The key objective of spatial genomics and transcriptomics market report is to provide a detailed market analysis in order to estimate the existing market size, market value, statistics and future opportunity for spatial genomics and transcriptomics market during the forecast period. We have developed informed estimates on the evolution of the market for the forecast period 2022-2035. Our year-wise projections of the current and forecasted opportunity have further been segmented across different segments; type of solution (instruments, services, consumables and software), type of sample analyzed (DNA, RNA and proteins), end user (academic research institutes and pharmaceutical companies), research areas (oncology, immunology, neurology, infectious and others), and key geographical locations (North America, Europe and Asia- Pacific and the Rest of the World). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely conservative, base and optimistic scenarios, which represent different tracks of the industry’s growth.
The opinions and insights presented in the market research report were influenced by discussions held with several stakeholders engaged in spatial genomics and transcriptomics. The market report features detailed transcripts of discussions held with the following individuals:
All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this market report are in USD, unless otherwise specified.