IMARC Group's report titled "Plant Genomics Market Report by Type (Molecular Engineering, Genetic Engineering, Genome Editing, and Others), Technology (DNA/RNA Sequencing, Genotyping, Marker-Assisted Selection (MAS), Bioinformatics, and Others), Trait (Yield Improvement, Disease Resistance, Herbicide Tolerance, and Others), Application (Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, and Others), and Region 2024-2032". The global plant genomics market size reached US$ 10.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 17.7 Billion by 2032, exhibiting a growth rate (CAGR) of 6.33% during 2024-2032.
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Factors Affecting the Growth of the Plant Genomics Industry:
- Advancements in Genomic Technologies:
Innovations in genomic technologies, such as next-generation sequencing (NGS) and CRISPR-Cas9 gene editing, are supporting the market growth. These advanced tools allow researchers to delve deeper into plant genomes, separating complex genetic traits and markers for crop improvement. These technologies accelerate breeding programs and facilitate the development of resilient and high-yielding crops by enabling comprehensive genome analysis and precise gene editing. Moreover, the integration of bioinformatics enhances data analysis and interpretation and improves research outcomes. Furthermore, the accessibility and affordability of these genomic tools foster innovation and collaboration within the scientific community.
- Rising Focus on Crop Improvement and Breeding:
The increasing focus on crop improvement and breeding is contributing to the growth of the market. Breeders are developing crop varieties with enhanced traits, such as yield, disease resistance, and stress tolerance, necessitating comprehensive genomic analysis. Plant genomics enables the identification of genetic markers associated with desirable traits, facilitating targeted breeding efforts. This approach streamlines the selection process, expediting the development of improved cultivars tailored as per specific environmental conditions. The integration of genomic technologies into breeding programs enhances efficiency and precision, which is impelling the market growth.
- Increasing Adoption of Molecular Breeding Techniques:
The rising employment of molecular breeding techniques, including marker-assisted selection (MAS) and genomic selection, in the agricultural sector is supporting the market growth. These techniques leverage genomic information to inform breeding decisions, enabling breeders to select plants with desired traits at the molecular level. Molecular breeding accelerates the breeding process, reducing the time and resources required to develop improved crop varieties by facilitating the identification and utilization of genetic markers linked to target traits. Furthermore, the integration of genomic data into breeding programs enhances breeding efficiency and precision, resulting in the rapid development of elite cultivars with superior agronomic traits.
Leading Companies Operating in the Global Plant Genomics Industry:
- Agilent Technologies Inc.
- BGI Genomics
- Eurofins Scientific SE
- Floragenex Inc.
- GENEWIZ Inc. (Azenta Inc.)
- Illumina Inc.
- Keygene N.V.
- LC Sciences
- Neogen Corporation
- Novogene Co. Ltd.
- NRGene Technologies Ltd.
- Oxford Nanopore Technologies plc
- Qiagen N.V.
Plant Genomics Market Report Segmentation:
By Type:
- Molecular Engineering
- Genetic Engineering
- Genome Editing
- Others
Genetic engineering represents the largest segment, which can be accredited to its ability to allow scientists to precisely modify the genetic makeup of plants.
By Technology:
- DNA/RNA Sequencing
- Genotyping
- Marker-Assisted Selection (MAS)
- Bioinformatics
- Others
DNA/RNA sequencing holds the biggest market share as it offers high-throughput sequencing and enables researchers to generate large volumes of sequencing data quickly.
By Trait:
- Yield Improvement
- Disease Resistance
- Herbicide Tolerance
- Others
Herbicide tolerance accounts for the largest market share due to the rising focus on increased productivity and profitability.
By Application:
- Cereals and Grains
- Oilseeds and Pulses
- Fruits and Vegetables
- Others
Cereals and grains exhibit a clear dominance in the market on account of the increasing need for achieving food security.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific enjoys a leading position in the plant genomics market, which can be attributed to the agro-climatic conditions favorable for cultivating a wide variety of crops.
Global Plant Genomics Market Trends:
Biotechnology companies and research institutions play a pivotal role in advancing genomic technologies, conducting advanced research, and developing innovative solutions for crop improvement. The rising focus on utilizing genetic information to address agricultural challenges is impelling the market growth. Biotechnology companies and research institutions are collaborating with academia, government agencies, and agricultural stakeholders to facilitate the translation of genomic discoveries into practical applications. The increasing demand for sustainable agricultural solutions is propelling the market growth.
Apart from this, the rising acceptance of genetically modified organisms (GMOs) crops in various regions is bolstering the market growth. Plant genomics technologies enable the development of GM crops with improved traits, such as pest resistance and drought tolerance.
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