Agrigenomics Market anticipated to grow at a CAGR of 7.8% during 2019-2027

Research Nester released a report titled “Agrigenomics Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global agrigenomics market in terms of market segmentation by application, by objective, by end user and by region.

Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.

The United Nations released a report on the world population stating that in 2020, it is currently growing by approximately 81 million people each year; which is expected to reach 8.5 billion by the end of 2030. This results in enhancing food necessity across the world.

The market for agrigenomics is anticipated to grow at a CAGR of 7.8% over the forecast period, i.e., 2019-2027. Further, the market is predicted to reach a market value of about USD 20,500 million by the end of 2027. The market for agrigenomics is anticipated to grow on the back of rising technological advancements and high demand for efficient systems and equipment as well as automation in the industry. Agrigenomics is used for researching the impact of genes on livestock and crops and enhancing the productivity and viability of yield and livestock. The market is segmented on the basis of application, objective, end user and region. On the basis of objective, the market is segmented into whole genome sequencing, structural variant calling, targeted sequencing, RNA sequencing, genotyping, DNA extraction & purification, DNA sequencing, gene expression profiling, market assisted selection, GMO/trait purity and others. The segment for DNA extraction and purification is projected to observe the highest growth rate over the forecast period.

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Based on geography, the agrigenomics market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. The market in North America is estimated to hold the leading share and grow at the highest rate with a CAGR of 8% during the forecast period. This can be attributed to the presence of leading companies involved in research and development in the field of agrigenomics in North America. Moreover, the market in Europe is anticipated to hold the second largest share over the coming years on the back of rising technological advancements in the region in this field.

Employment Of Agrigenomics In Developing Advanced Livestock And Crops To Drive The Market Growth

Rising usage of advanced genomics technology such as next generation sequencing and automated systems is estimated to become a major growth factor for the market. There is an increasing preference of upgraded technology by various researchers for the use of agrigenomics in research activities such as genetic disease elimination, targeted resequencing, and marker-assisted selection and breeding. However, agrigenomics requires a high capital investment which is estimated to restrict the business growth in future.

This report also provides the existing competitive scenario of some of the key players of the global agrigenomics market which includes company profiling of Eurofins Scientific Se, Agilent Technologies Inc., Thermo Fisher Scientific Inc., Lc Sciences, Llc, Illumina Inc., Zoetis Inc., Neogen Corporation, Galseq Srl Via Italia, Agrigenomics Inc. and Biogenetic Services Inc. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global agrigenomics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.

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