by The global agrigenomics market is primarily driven by the widespread adoption of advanced technologies such as gene sequencing, bioinformatics, and molecular diagnostics for agrigenomics applications. Agrigenomics refers to the study of genomes and genetic variations in plants and livestock. It involves testing and analysis of genomes of agricultural crops, cattle, pig, and poultry to gain insights into traits like high yields, resistance to diseases, improved nutrition, and superior product quality.
Global Agrigenomics Market Size enables the processing of massive amounts of genomic data to develop improved crop varieties and livestock breeds with desirable agricultural and economic traits. Advancements in sequencing technologies, bioinformatics tools, and marker-assisted selection techniques have allowed cost-effective analysis of entire genomes to identify important genes for traits of interest.
The global agrigenomics market is estimated to be valued at US$ 7.67 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031. Key applications of agrigenomics include molecular breeding, genetic engineering, genomic assays, and genomic selection. Molecular breeding relies on agrigenomics approaches to enable precise introgression of desired genes from unadapted to adapted gene pools. Genetic engineering employs agrigenomic techniques for targeted editing of genomes to modify phenotypes. Genomic selection is conducted to select superior breeding candidates based on genomewide analyses. Such applications aid in developing improved varieties with higher yields, enhanced nutritional profiles, biotic/abiotic stress resistance, and superior product quality and processing traits.
Key Takeaways
Key players operating in the global agrigenomics market 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. The key players are increasingly undertaking mergers and acquisitions, collaborations, and new product launches to strengthen their market position.
The main opportunities in the global agrigenomics market are increased R&D investments by governments and private companies in developing countries and integration of agrigenomics approaches in animal breeding programs. Development of precision agriculture technologies that incorporate agrigenomic insights is another key growth area.
Technological advancements such as low-cost whole genome sequencing, development of high-density SNPchips, advanced bioinformatics tools, and gene editing are further fueling the adoption of agrigenomics. Recent innovations include CRISPR-Cas based gene editing for efficient generation of improved germplasms, machine learning applications for improved genomic prediction models, and cloud-based agrigenomic data analysis platforms.
Market drivers
Increasing global demand for food due to the rising population is a key driver for the agrigenomics market. Agrigenomics applications help increase agricultural productivity and yield through the development of superior varieties. Climate change impacts including drought, floods, changing rainfall patterns are further necessitating agrigenomics-led adaptations. Development of climate-resilient and stress-tolerant crop varieties thus drives the demand.
Challenges in the global agrigenomics market
The global agrigenomics market is facing several challenges which are hampering its growth. The high cost associated with R&D activities in agrigenomics is one of the major challenges. Developing new agrigenomic products and technologies require huge investments which puts financial pressure on companies. Lack of proper infrastructure and advanced laboratories in developing nations is another challenge. The regulations around genetically modified crops are also very stringent in some countries which creates regulatory hurdles. Due to climate change, new plant diseases and crop vulnerabilities are emerging rapidly which is testing the capabilities of agrigenomic solutions. The market also suffers from lack of skilled workforce and agricultural experts which affects the commercialization of new agrigenomic technologies. Overall, high costs, infrastructure problems, stringent regulations and climate change impacts are the key current challenges being faced by the global agrigenomics market.
SWOT Analysis
Strength: Help improve crop yields and resilience through technologies like marker-assisted breeding. Enable development of drought tolerant, pest resistant and high nutrient varieties.
Weakness: Heavy reliance on public funding for research. Strict IPR and regulatory frameworks can delay products.
Opportunity: Address issues of emerging plant diseases, food security and sustainability through innovative solutions. Tapping growth in emerging economies.
Threats: Long product development cycles. Compete with conventional breeding methods. Impact of climate change on crop performance.
Geographical concentration of global Agrigenomics market
In terms of value, North America accounts for the major share of the global agrigenomics market currently due to strong funding for research in the USA and Canada. Europe is also among the leaders due to large presences of players like Eurofins in the region. Asia Pacific is emerging as an important market driven by rising agriculture sector in countries like India, China and Japan.
The Asia Pacific region is expected to witness the fastest growth in the global agrigenomics market during the forecast period from 2024 to 2031. This is due to increasing government support for agriculture advancements, growing population and rising crop production in developing Asian countries. Rapid economic development is also enabling greater private investments in agrigenomic technologies in the region.
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1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
