The global agrigenomics market plays a pivotal role in advancing agriculture through enhanced genomics tools and technologies. Agrigenomics involves the application of various genomic tools such as marker-assisted selection, DNA fingerprinting, and quantitative trait loci analysis to crops and livestock to help increase agricultural productivity. Advancements in next-generation sequencing technologies have enabled high-throughput whole genome analysis, aiding in deeper understanding of genetics and developing more robust crop varieties and animals.
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. Agrigenomics offers opportunities for strategic decision-making related to hybrid development, genomics-assisted breeding, and management of genetic diversity. It helps farmers andbreeders select superior germplasm and breed new crop varieties and animal breeds with desired traits of yield, nutritional quality, biotic and abiotic stress tolerance. Key Takeaways 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. These players are investing heavily in R&D to develop advanced sequencing platforms and bioinformatics solutions for tackling challenges in agriculture and animal husbandry. Major market opportunities include development of molecular diagnostic tools, genetic mapping, and genomic selection applications. Leading companies are focusing on global expansion by strengthening their collaborations with research institutes and entering emerging markets in Asia Pacific and Latin America. The demand for agrigenomics is increasing in the global market due to growing world population, shrinking agricultural land, and changing climatic conditions. Advancements in next-generation sequencing technologies are enabling high-throughput analysis of plant and animal genomes at reduced costs. This is supporting development of climate-resilient crop varieties. Market drivers and restrain: One of the key drivers for the agrigenomics market is the rising global demand for food owing to the increasing world population which is surpassing 8 billion. This is putting pressure on limited resources like agricultural land and water. Agrigenomics helps enhance crop yields through genomics-led breeding of new superior hybrid varieties. However, the high setup and infrastructure costs associated with establishment of genomics laboratories and skills shortage are some of the major challenges restraining the market growth. Also, stringent regulations around use of GMO crops and ethical issues related to animal cloning limit the development and adoption of certain genomics applications. Segment Analysis The global agrigenomics market is dominanted by the sequencing sub segment which holds around 40% of the total market share. Sequencing is the widely used technique for identifying genetic markers and sequencing the genomes of various crops. It helps in enhancing crop yield and providing disease resistance which is driving its adoption. With falling sequencing cost and advancement in sequencing technologies, more farmers and companies are opting for sequencing services for agrigenomics research. Global Analysis Regionally, North America dominates the global agrigenomics market with a share of over 35% owing to high adoption of advanced technologies for agri research in countries like US and Canada. Large presence of leading players and high R&D investment in the region has been a major factor for its large market size. The Asia Pacific region is expected to witness the fastest growth during the forecast period majorly due to increasing population, rise in food demand and government support for agri-research in countries like India and China. Initiatives like developing high yield drought resistant crops are boosting Asia Pacific's agrigenomics market. Get more insights on This Topic- Global Agrigenomics Market
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