Agrigenomics

Agrigenomics

Global Agrigenomics Market to Reach US$6.8 Billion by 2030

The global market for Agrigenomics estimated at US$3.9 Billion in the year 2023, is expected to reach US$6.8 Billion by 2030, growing at a CAGR of 8.2% over the analysis period 2023-2030. Illumina Hi Seq Family, one of the segments analyzed in the report, is expected to record a 8.8% CAGR and reach US$3.5 Billion by the end of the analysis period. Growth in the Sanger Sequencing segment is estimated at 8.4% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.0 Billion While China is Forecast to Grow at 7.7% CAGR

The Agrigenomics market in the U.S. is estimated at US$1.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2030 trailing a CAGR of 7.7% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 7.4% and 6.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR.

Global Agrigenomics Market - Key Trends and Drivers Summarized

What Is Agrigenomics and How Does It Transform Agriculture?

Agrigenomics, the application of genomics in agriculture, is revolutionizing the way we understand and improve crop and livestock production. This interdisciplinary field combines advanced genomic technologies with agricultural sciences to enhance the genetic makeup of plants and animals, leading to improved yield, disease resistance, and environmental resilience. By sequencing the DNA of various crops and livestock, scientists can identify genes responsible for desirable traits and employ techniques like marker-assisted selection and gene editing to accelerate the breeding process. Agrigenomics enables precise modifications, ensuring that new varieties can better withstand pests, diseases, and climate challenges. This genomic approach not only increases agricultural productivity but also supports sustainable practices by reducing the need for chemical inputs like pesticides and fertilizers.

Why Is Agrigenomics Essential for Modern Agriculture?

The necessity of agrigenomics in modern agriculture stems from the increasing demand for food security, sustainable practices, and adaptation to climate change. Traditional breeding methods are time-consuming and often less precise, making it difficult to meet the growing global food demand. Agrigenomics provides a faster, more accurate way to develop crops and livestock with superior traits. For instance, genomic selection can significantly reduce the time required to develop a new crop variety by identifying and selecting the best genetic combinations early in the breeding process. Additionally, agrigenomics plays a crucial role in conserving genetic diversity, which is vital for the resilience and adaptability of agricultural systems. By understanding the genetic basis of crop and livestock diversity, researchers can develop strategies to preserve and utilize this diversity effectively, ensuring long-term sustainability and food security.

How Are Technological Innovations Enhancing Agrigenomics?

Technological advancements are at the core of the rapid progress in agrigenomics. High-throughput sequencing technologies, such as next-generation sequencing (NGS), have made it possible to sequence entire genomes quickly and cost-effectively, providing a wealth of genetic information that can be used to improve agricultural practices. CRISPR-Cas9 and other gene-editing tools offer unprecedented precision in modifying specific genes, allowing for targeted improvements without the lengthy and uncertain processes of traditional breeding. Bioinformatics and computational biology are also essential, enabling the analysis and interpretation of vast amounts of genomic data. These technologies facilitate the identification of genetic markers associated with important traits and the development of predictive models for breeding programs. Moreover, the integration of agrigenomics with precision agriculture technologies, such as sensors and drones, allows for real-time monitoring and management of crops based on their genetic profiles, optimizing resource use and improving yields.

What Factors Are Driving Growth in the Agrigenomics Market?

The growth in the agrigenomics market is driven by several factors reflecting technological advancements, the rising need for food security, and changing agricultural practices. A significant driver is the increasing global population, which amplifies the demand for higher agricultural productivity and efficient resource use. Technological innovations in high-throughput sequencing and gene-editing tools are making genomic applications more accessible and effective, encouraging widespread adoption. The rising costs of traditional agricultural inputs and the need for sustainable farming practices are also propelling the market, as agrigenomics offers viable solutions to enhance crop and livestock resilience and productivity. Government initiatives and funding aimed at promoting agricultural research and innovation further support market growth. Additionally, the growing awareness about food safety, quality, and traceability is driving demand for genomic solutions that ensure high-quality produce. Collaborations between agritech companies, research institutions, and farmers are fostering innovation and practical applications of agrigenomics, accelerating its adoption across the agricultural sector. As these factors converge, the agrigenomics market is poised for significant expansion, driven by continuous technological advancements and the global push for sustainable and efficient agricultural practices.

Select Competitors (Total 41 Featured) -

• Agilent Technologies, Inc.
• AgriGenomics, Inc.
• Biogenetic Services, Inc.
• Eurofins Scientific SE
• Galseq Srl
• Illumina, Inc.
• LGC Ltd.
• Neogen Corporation
• Thermo Fisher Scientific, Inc.
• Zoetis, Inc.

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