APAC Spatial Genomics & Transcriptomics Market by Technique (Spatial Transcriptomics (IHC, ISH), Spatial Genomics (FISH, Sequencing)), Product (Instruments, Consumables, Software), Application (Drug Discovery), End User (Biotech, CROs) - Forecast to 2027
[134 Pages Report] The Asia Pacific spatial genomics & transcriptomics market is projected to reach USD 152 million by 2027 from USD 64 million in 2022, at a CAGR of 18.9% during the forecast period. The key factors driving the growth of the spatial genomics and transcriptomics market in the Asia Pacific are the increasing capital investments, rising use of spatial omics for disease diagnosis, and rising rate in the adoption rate of spatial genomics and transcriptomics in drug discovery & development. However, analytical limitation associated with spatial techniques are expected to restrain market growth to a certain extent.
Attractive Opportunities in the Asia Pacific Spatial Genomics & Transcriptomics Market
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Asia Pacific Spatial Genomics & Transcriptomics Market Dynamics
DRIVER: Reduced cost of next-generation sequencing
The cost of next-generation sequencing (NGS) is continuing to decline, with Illumina leading the way in making NGS more affordable and accessible. This is expected to create a robust customer base as laboratories of all sizes are now able to adopt NGS. In October 2022, Illumina launched the NovaSeqX series, a quicker and cheaper genomic sequencing platform, in Thailand. The new platform is a significant improvement over the previous models in terms of speed and cost. The NovaSeqX series is expected to minimize the cost of genome sequencing to just USD 200–300 per sample (this excludes costs associated with processing, interpretation, and counseling), down from USD 600. The new platform delivers more than 20,000 whole genomes of high-resolution optics and ultra-high density flow cells per year, which is 2.5 times greater throughput than the previous model. Such developments are expected to increase the accessibility of NGS across Asia Pacific countries, which would expand its applications in the spatial genomics and transcriptomics market.
CHALLENGES: Analytical limitations associated with spatial techniques
The key analytical limitation associated with spatial genomics and transcriptomics is the limited number of genes that can be analyzed in one go. A variety of methods have been commercialized by market players to visualize mRNA sequences on tissue sections. However, the maximum number of different genes that can be analyzed at a time with such techniques is limited. Customers make use of quantitative and sensitive spatial transcriptomic sequencing methods, but only 3 to 4 genes can be analyzed at once. This creates a challenging environment for customers looking to adopt spatial transcriptomics and genomics techniques.
The Spatial Transcriptomics accounted for the largest share of the technique segments in spatial genomics & transcriptomics market in 2022.
Based on technique, the market is categorized into spatial transcriptomics, and spatial genomics analysis. In 2021, the spatial transcriptomics segment accounted for the largest share of the spatial genomics and transcriptomics market. Increasing demand for and high adoption rate of in situ sequencing techniques is expected to drive the growth of the spatial transcriptomics segment during the forecast period.
The Consumables segment dominated the product segment in spatial genomics & transcriptomics market in 2021.
Based on the product, the segment is categorized into consumables, instruments and software. In 2021, the consumables segment dominated the product segment with the highest revenue share. Growing use of consumables for various spatial genomics and transcriptomics applications is estimated to drive the market growth.
In 2021, the translational research segment have generated highest revenue in the application segment for spatial genomics & transcriptomics market.
Based on the application, the Asia Pacific Spatial Genomics & Transcriptomics Market is segmented into translational research, and drug discovery & development. In 2022, the translational research have generated highest revenue in the application segment. The large share of the translational research segment can be attributed to the increasing use of spatial genomics and transcriptomics to determine high-throughput data on the organizational structure of cell content from tissue and cell species.
China was the largest market for Asia Pacific Spatial Genomics & Transcriptomics in 2022.
Geographically, the spatial genomics & transcriptomics market is segmented into Japan, China, India and Rest of Asia Pacific. The spatial genomics & transcriptomics market is dominated by China in 2022 and this dominance is anticipated to continue throughout the forecast period. The large share of the segment can be attributed to the rising incidence of chronic diseases and technological advancements and the launch of cell therapies to treat different cancers in the spatial genomics and transcriptomics market in this region.
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Key Market Players
Prominent players in the spatial genomics & transcriptomics market include NanoString Technologies, Inc. (US), 10X Genomics (US), Illumina (US), Bio-Rad Laboratories (US), Bio-Techne Corporation (US), Standard BioTools Inc. (US), Genomic Vision SA (France), Akoya Biosciences, Inc. (US), S2 Genomics (US), Cantata Bio (US), Vizgen Group (US), BGI Group (China), Miltenyi Biotec (Germany), Bruker (US), Perkinelmer Inc. (US), and Novogene Co., Ltd. (China).
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Scope of the Report
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Report Metric |
Details |
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Market size available for years |
2020–2027 |
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Base year considered |
2021 |
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Forecast period |
2022–2027 |
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Forecast units |
Value (USD) |
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Segments covered |
Product, Technique, Application, End User, and Country |
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Geographies covered |
China, India, Japan, and rest of Asia Pacific |
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Companies covered |
NanoString Technologies, Inc. (US), 10X Genomics (US), Illumina (US), Bio-Rad Laboratories (US), Bio-Techne Corporation (US), Standard BioTools Inc. (US), Akoya Biosciences, Inc. (US), PerkinElmer, Inc. (US), S2 Genomics, Inc. (US), Cantata Bio (US), Vizgen Corporation (US), BGI (China), Miltenyi Biotec (Germany), Bruker (US), PerkinElmer Inc. (US), and Novogene Co., Ltd. (China). |
This report categorizes the Asia Pacific spatial genomics & transcriptomics market into the following segments:
Asia Pacific Spatial Genomics & Transcriptomics Market, by Technique
- Spatial Transcriptomics
- Immunohistochemistry (IHC)
- In Situ Hybridization
- Sequencing Techniques
- Microscopy based RNA imaging
- Other Spatial Transcriptomics Techniques
- Spatial Genomics Analysis
- Immunohistochemistry (IHC)
- In Situ Hybridization
- Sequencing Techniques
- Microscopy based RNA imaging
- Other Spatial Transcriptomics Techniques
Asia Pacific Spatial Genomics & Transcriptomics Market, by Product
- Instruments
- Consumables
- Software
Asia Pacific Spatial Genomics & Transcriptomics Market, by Application
- Translational Research
- Drug Discovery and Development
Asia Pacific Spatial Genomics & Transcriptomics Market, by End User
- Academic and Research Institutes
- Contract Research Organization
- Pharmaceutical and Biotechnology Companies
Asia Pacific Spatial genomics & transcriptomics Market, by Country
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Asia Pacific (APAC)
- Japan
- India
- China
- Rest of Asia Pacific (RoAPAC)
Recent Developments
- In 2022, NanoString and Abcam announced an agreement to co-market Abcam antibodies for NanoString’s high-plex spatial multiomics solutions.
- In 2022, 10x Genomics announced the first commercial shipments of its Xenium platform for in situ analysis. Xenium is the next generation of targeted spatial profiling of genes and proteins at subcellular resolution.
- In 2022, Illumina and AstraZeneca announced a strategic research collaboration to accelerate drug target discovery by combining their strengths in AI-based genome interpretation and genomic analysis techniques with industry expertise.
Frequently Asked Questions (FAQ):
Who are the key players in the spatial genomics & transcriptomics market?
Key players in the spatial genomics & transcriptomics market include NanoString Technologies, Inc. (US), 10X Genomics (US), Illumina (US), Bio-Rad Laboratories (US), Bio-Techne Corporation (US), Standard BioTools Inc. (US), Genomic Vision SA (France), Akoya Biosciences, Inc. (US), S2 Genomics (US), Cantata Bio (US), Vizgen Group (US), BGI Group (China), Miltenyi Biotec (Germany), Bruker (US), Perkinelmer Inc. (US), and Novogene Co., Ltd. (China).
Which product type segment dominates in the spatial genomics & transcriptomics market?
In 2022, the consumables segment accounted for the largest share of the spatial genomics & transcriptomics market. Growing use of consumables for various spatial genomics and transcriptomics applications are expected to drive the growth of the consumables segment during the forecast period.
Which application segment of the Asia Pacific Spatial Genomics & Transcriptomics Market is expected to witness lucrative growth?
Based on application, the spatial genomics & transcriptomics market is broadly segmented into translational research, and drug discovery & development. The translational research segment accounted for the largest share of the application segment in 2022. The large share of this segment is attributed to the increasing use of spatial genomics and transcriptomics to determine high-throughput data on the organizational structure of cell content from tissue and cell species.
What is the market size for spatial genomics and transcriptomics market?
The Asia Pacific spatial genomics and transcriptomics market is projected to reach USD 152 million by 2027 from USD 64 million in 2022, at a CAGR of 18.9% during the forecast period. .
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This study involved four major activities in estimating the current size of the Asia Pacific spatial genomics & transcriptomics market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments.
Secondary Research
Secondary research was used mainly to identify and collect information for the extensive, technical, market-oriented, and commercial study of the Asia Pacific spatial genomics & transcriptomics market. The secondary sources used for this study include Some of the key secondary sources referred to for this study include publications from government sources World Health Organization (WHO), National Institutes of Health (NIH), Organisation for Economic Co-operation and Development (OECD), International Agency for Research on Cancer (IARC), Research!America, Genome Canada, GenomeWeb, South African Medical Research Council (SAMRC), Wellcome Sanger Institute, Genome Research Limited, Labiotech.eu, R&D World Magazine, India Brand Equity Foundation (IBEF), Biotechnology Innovation Organization (BIO), National Center for Biotechnology Information (NCBI), BioPharm International, EvaluatePharma, ScienceDirect, Eurostat, Annual Reports, Press Releases, Investor Presentations, Expert Interviews, and MarketsandMarkets Analysis. These sources were also used to obtain key information about major players, market classification, and segmentation according to industry trends, regional/country-level markets, market developments, and technology perspectives.
Primary Research
In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess prospects of the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the Asia Pacific spatial genomics & transcriptomics market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and market have been identified through extensive secondary research
- The revenues generated from the spatial genomics & transcriptomics business of leading players have been determined through primary and secondary research
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
Data Triangulation
After arriving at the overall market size from the market size estimation process, the total market was split into several segments. To complete the overall market engineering process and arrive at the exact statistics for all segments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Report Objectives
- To define, describe, and forecast the Asia Pacific spatial genomics & transcriptomics market based on product, technique, application, and end user.
- To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, challenges, opportunities, and trends)
- To strategically analyse micromarkets with respect to individual growth trends, future prospects, and contributions to the overall spatial genomics & transcriptomics market
- To analyse opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies
- To track and analyze competitive developments such as acquisitions, product launches, expansions, agreements, partnerships, and R&D activities in the spatial genomics & transcriptomics market.
Available Customizations
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Growth opportunities and latent adjacency in APAC Spatial Genomics & Transcriptomics Market