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Agrigenomics Market to Reflect Impressive Growth Rate by 2024

Agrigenomics is defined as the study of the genetic makeup of crops and livestock and how genes influence the produce. Application of genomics in agriculture enables improvement in the sustainability and productivity in livestock and crop production. Significant enhancements in technology leading to a switch from single gene sequencing to whole genome sequencing, and increase in research on genome composition and gene function contribute to the growth of the agrigenomics market. Rise in applications of genome sequencing in livestock not only enables the study of parent lineage, but also aids in understanding the characteristics of infectious agents such as bacteria and viruses that infest them or live on them. The resolution of the next-generation sequencing enables researchers to study the mutations in infectious agents over time, and help in understanding the transmission patterns of these diseases, thereby contributing to the development of effective treatment. In addition, these studies enable researchers to control the outbreak of diseases among livestock which aids in enhancing productivity. These factors act as major drivers of the agrigenomics market.

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The agrigenomics market is anticipated to grow at a high rate during the forecast period, owing to the exponential increase in population, rise in demand for crop and livestock, government initiatives to support research and enhance crop productivity, and surge in demand for genomic databases by livestock breeders. Technological advances in sequencer systems such as development of high-throughput systems, and increasing automation contribute to the growth of the market. Additionally, decline in cost of sequencing and reduction in time required for nucleic acid sequencing boost the growth of the market. Furthermore, increasing adoption of sequencing owing to the accuracy of results augments the market. Ongoing research on market-assisted selection and breeding in also anticipated to propel the market. However, high cost of devices, stringent regulatory procedures, and high cost of investment are expected to hamper the growth of the agrigenomics market during the forecast period.

The global agrigenomics market can be segmented based on technology, service offerings, application, end-user, and region. In terms of technology, the market can be categorized into real-time PCR (qPCR), microarrays, next generation sequencing, capillary electrophoresis, and others. Based on service offerings, the market can be classified into genotyping, DNA fingerprinting, assessment of genetic purity, trait purity assessment, gene expression analysis, and others. In terms of application, the market can be bifurcated into livestock and crops. Based on end-user, the market can be segmented into biotechnology companies, research laboratories, academic institutes, and others.

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Geographically, the global agrigenomics market can be segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share of the market in terms of revenue in 2016 and the trend is anticipated to continue during the forecast period. Strong growth of the market in the region can be attributed to the significant technological advances, well-established health care infrastructure, and focus on research and development. Europe is anticipated to be the second largest market in terms of revenue. The market in Asia Pacific is expected to expand at a high CAGR owing to factors such as government support for research and development in the field of agrigenomics, decreasing prices of sequencing technologies, and significant technological innovations.

Leading players in the global agrigenomics market include Thermo Fisher Scientific, Inc., Biogenetic Services, Inc., GalSeq Srl Via Italia, AgriGenomics, Inc., Edico Genome, Agilent Technologies, Inc., Illumina, Inc., Affymetrix, Eurofins Scientific SE, SciGenom Labs Pvt. Ltd., Neogen Corporation, and LGC Limited. Strategies adopted by market players to enhance presence in the agrigenomics market include introduction of new products and services, strategic acquisitions, and partnerships.

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