The global plant genomics market is projected to grow from $7.26 billion in 2020 to $12.26 billion by 2025, at a CAGR 11.06% from 2020 to 2025. The growth in plant genomics market is expected to be driven by rising need for improved crop traits, increasing need to reduce crop losses, and reducing cost of DNA sequencing and synthesizing.
The agriculture industry was highly unregulated in the early days of the industrial revolution, owing to several unfavorable aspects such as climate variation and crop losses due to diseases and pathogen attack. The statutory authorities and governing bodies across regions were pressured to introduce innovative technologies to overcome the challenges. Moreover, with the constant evolution of the process for the last 10 years, with various innovative technological developments taking place in the industry for improving the crop production and nutritional quality of crops. Additionally, with the exponential growth in the world population and the subsequent rise in the global demand for improves crop traits, the need to improve farming productivity with the incorporation of advanced innovative biological technology has become critical. Therefore, countries in North America, Europe, and Asia-Pacific and Japan, among other regions, are inclining toward adopting advanced biological technologies, such as DNA sequencing and genotyping, to improve the agricultural yield.
North America Leading the Global Plant Genomics Market:
The governing trends of the plant genomics market vary across different regions. The plant genomics market holds a prominent share in various countries of North America, Europe, Asia-Pacific and Japan, Middle East and Africa, U.K., China and South America. In 2020, North America is expected to be at the forefront of the market, with a large market concentration in the U.S.
The plant genomics consortium actively promotes plant research in order to fulfill the gap between food demand and supply. The consortium has conducted field and laboratory research in the field of systematic and botany for more than 113 years. The consortium has a technical team that comprises more than 150 scientists and technical support staff that promotes research, innovation, and development in the field of plant genomics. Furthermore, the consortium has recently been awarded NSF plant genomics grant to study the evolution of seeds using several genomics technologies.
Competitive Landscape and Key Players:
The competitive landscape of the plant genomics market consists of different strategies undertaken by major players across the industry to gain market presence. The competitive landscape for the plant genomics market demonstrates an inclination toward companies adopting strategies, such as product launch and development and partnerships, collaborations, and joint ventures. The major established players in the market focus on partnerships, collaborations, and joint ventures to introduce new technologies or develop further on the existing product portfolio. KeyGene, N.V., Novogene, Oxford Nanopore Technologies, Genewiz, Front Range Biosciences, and Eurofins Scientific are some of the prominent players in the plant genomics market. The market is highly fragmented with the presence of a large number of small- to medium-sized companies that compete with each other and the large enterprises.
The key industrial players of the global plant genomics market in the U.S. are Illumina, Inc., Genewiz, Pathogen DX, AgBiome, Evogene, Deroose Plants and Neogen Corporation, among others.
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Key Questions Answered by This Report:
What is the expected global plant genomics market size in terms of value during 2019-2025?
What is the expected future scenario and revenue generated by the application segments, including yield management, herbicide tolerance, and disease resistance?
What is the expected future scenario and revenue to be generated by the different types of product offerings, including hardware, software, and services, during the forecast period 2020-2025?
What is the expected future scenario and revenue to be generated by the plant genomics for different farm produce, including cereals, oil crops, fiber, fruits, and vegetables, among others?
What are the different regulations present in different regions regarding the development of crops through plant genomics?
Which region is the largest market for the global plant genomics market?
What is the expected future scenario and the revenue to be generated by different regions and countries in the plant genomics market?
What is the competitive strength of the key players in the plant genomics market on the basis of the analysis of their recent developments, product offerings, and regional presence?
Where do the key plant genomics companies lie in their competitive benchmarking, compared to the factors of market coverage and market potential?
How is the government initiative landscape across different regions and countries in the plant genomics market?
How is the funding and investment landscape in the global plant genomics market?
Which are the leading consortiums and associations in the global plant genomics market, and what is their role in the market?
What are the market dynamics of the global plant genomics market, including market drivers, restraints, and opportunities?
How has COVID-19 impacted the global plant genomics market?
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