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Global Agrigenomics Market Poised to Witness Substantial Growth due to Increasing Development of High-yield Crop Varieties

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ashwini bakhade
Global Agrigenomics Market Poised to Witness Substantial Growth due to Increasing Development of High-yield Crop Varieties

The global agrigenomics market deals with gene function in crops and application of molecular techniques to improve plant yields. Agrigenomics technologies aid in the development of high-yielding, disease resistant crop varieties through enhanced understanding of genomes. Increased farming productivity to meet rising global food requirements is driving demand for agrigenomics techniques.

The Global Agrigenomics Market is estimated to be valued at US$ 4.30 Bn in 2024 and is expected to exhibit a CAGR of 10% over the forecast period from 2024 to 2031.

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. Rapidly developing RNA and DNA sequencing technologies provide key opportunities in the market. Increasing private sector investments and government funding for agrigenomic R&D is expected to boost the global expansion of the market over the forecast period.

Market drivers

The key driver for the global agrigenomics market is the rising demand for high-yield and climate resilient crop varieties to address the crucial need for increased global food production. Agrigenomics techniques aid in characterizing gene function and exploring untapped genetic diversity which helps in developing superior crops tailored to different agro-climatic conditions. This is expected to fuel market growth over the next few years.

PEST Analysis

Political: The agrigenomics market is influenced by government policies and regulations related to agricultural biotechnology. New laws related to the use of genetically modified crops can impact the demand for agrigenomics services.

Economic: Rising global population and increasing demand for food are driving the need to improve crop yields. Agrigenomics helps in developing high-yielding crop varieties economically. This factor supports market growth.

Social: Concerns related to GMO foods and their safety influence consumer preferences. Educating farmers about the benefits of agrigenomics plays a key role in adoption.

Technological: Advancements in technologies like next-generation sequencing, bioinformatics, and data analysis are boosting applications of agrigenomics. These allow faster and cost-effective analysis of plant and animal genomes.

The agrigenomics market in terms of value is concentrated in regions like North America and Europe. Higher research spending and presence of leading players drive the market in these regions. Meanwhile, the Asia Pacific region is witnessing the fastest growth in the global agrigenomics market due to growing government focus on increasing farm productivity and commercialization of agrigenomics technologies. Countries like China and India are major contributors to the growing APAC market.

In terms of geographical revenue distribution, North America holds the largest share in the global agrigenomics market currently. However, the Asia Pacific region is emerging as the fastest growing regional market and will extend its lead over other regions in the coming years. Factors such as rising investments in agricultural R&D, growing population, increasing demand for food, and advancing tertiary sector are boosting the Asia Pacific agrigenomics market significantly.


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