The global market for plant genomics is anticipated to expand at a rapid pace over the forecast time. This could be due to the rising need for crops that have been genetically altered. Genetically modified crops aid in the prevention of disease. In addition, plant genomics aids in increasing yields as well as providing disease resistance and pesticide resistance. All of these aspects are expected to help the growth of the global market for plant genomics over the forecast timeframe. Here, we will discuss the Plant Genomics Market Forecast, Share, Size, and Growth for 2022-2027.
Growing need to improve crop Traits
Breeding and producing varieties with better traits has been taking place since the beginning of time. However, the increasing frequency of crop losses is because of natural disasters and pest attacks have greatly increased the need for creating crops that have improved characteristics.
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There is a requirement to cultivate crops that have resistance to various fertilizers and herbicides, weedicides, and so on employed on fields for agriculture and at the same time, it is essential to ensure that crops have the ability to withstand various diseases.
Additionally, the necessity to meet the growing food needs of the increasing world population has driven the need for methods like plant genomics. These techniques help in improving the traits of plants but also aid in generating high yields. This, in turn, is expected to fuel the market's growth over the next years.
Growing Developments within Plant Genetics
The lower cost of DNA sequencing and synthesizing, along with the increasing demand for genetically modified crops that have improved characteristics has resulted in a requirement to modify plants genetically by using various methods.
This has prompted the attention of different research institutions and biotechnology and agriculture businesses to concentrate on the genetics of plants, leading to numerous developments within the field. Many organizations are joining forces and developing their own technology and implementing various advancements in the field of genetics of plants. For example, in June of 2019, NRGene Ltd., an organization that focuses on the field of plant genomics in Israel entered into a collaboration in collaboration with Beijing Genomics Institute, China to provide NRGene's technology as part of its broad array of genomic analysis services in research on agriculture.
The same month, the company, NRGene Ltd., launched an entire genome coverage as well as High Assembly De Novo reference genome-level analysis technology that will accelerate the development of research in agriculture at a reasonable price.
Market Segmentation for Plant Genomics Market
The market for plant genomics in the world is divided by traits, type by objective, application, and by location. Based on the type of product the market is classified into molecular engineering genetic engineering, as well as other. Based on the traits market, it can be classified into improvement in yield as well as resistance to disease herbicide tolerance, and others. Based on the objective markets, they can be divided into DNA extraction and removal, sequencing of DNA/RNA genetic analysis, GENE expression profiler, markers-assisted selection, and others. Based on the type of application the market is classified into cereals and grains, oilseeds and pulses, fruits and vegetables, and others.
In terms of regional distribution, North America dominated the market between Europe, Asia Pacific, South America, and Middle East & Africa. As the country, the United States dominated the global market for plant genomics in 2021 and will keep its lead throughout the forecast time. In the year 2021, the United States Department of Energy (DOE) announced plans to fund up to USD30 million for research in the basic area which will result in revolutionary approaches to identify the function of genes in the plant species that contribute to the sustainability of the production and use of bioenergy as well as bioproducts.
Market Player for Plant Genomics Market
Eurofins Scientific SE, Agilent Technologies Inc., Illumina, Inc., NRGene Ltd., Qiagen NV, Traitgenetics GmbH, Novogene Corporation, Oxford Nanopore Technologies Limited, Genewiz, Inc., Genotypic Technology Pvt Ltd are among the top players in the global market for plant genomics.
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