EDINA, Minnesota, March 15, 2018 /PRNewswire/ --
According to a new market intelligence report by BIS Research, titled 'Global NGS in Agrigenomics Market- Analysis and Forecast (2017-2021)', the global next generation sequencing (NGS) in agrigenomics market is expected to reach $1.4 billion by 2021. The strong growth is attributed to the multiple applications of NGS in the food and agriculture industry which are used to check the count, type, and metabolites of the foodborne pathogens. Increasing significance of using NGS in agrigenomics providing, efficient, and quick results have enhanced their functionality.
Browse more than 60 Data Tables and 109 Figures spread across 201 Pages and in-depth TOC on "Global NGS in Agrigenomics Market"
Agrigenomics or agricultural genomics is being widely utilized to understand the complex genomes of crops and livestock. This technique primarily refers to the application of genomics in the agriculture industry to enhance the productivity and sustainability of crops and livestock. Agrigenomics helps farmers, breeders, and researchers in identifying the genetic sequences which can be used to determine desirable traits and make better breeding decisions.
BIS Research Report: https://bisresearch.com/industry-report/global-ngs-agrigenomics-market-2021.html
The emerging nations, especially the countries such as China, India, and Israel are witnessing a significant growth in the NGS in agrigenomics market. This robust growth in the developing regions is largely propelled by the growing urban population and increasing disposable incomes of the populace.
The growth of NGS technology in the agricultural sector is attributed to the advancements in the genome sequencing segment, with a variety of post-sequencing analysis techniques and government support in the developed countries. The increasing demand for environmentally friendly and innovative production methods, modernization in the agriculture sector, and higher yields have identified the need for new avenues in the agrigenomics technology. Agriculture genomics is a method to preserve the agricultural production without affecting the ecosystem.
According to Rakhi Tanwar, analyst at BIS Research, "Crops application held approximately 55.2% of the total NGS in agrigenomics market in the year 2016, followed by the livestock application. Increasing rate of adoption of the NGS technology amongst the food manufacturers and laboratories coupled with the increasing government investment are the factors supporting the growth of the market. The NGS in agrigenomics market, based on product type, was dominated by kits & consumables which accounted for 51.0% of the total revenue generated in the year 2016. However, it is the instrument segment is expected to display the highest growth rate."
Kits and consumables are further segmented into sequencing kits, isolation & extraction kits, and others in the report. Sequencing kits segment presently holds the majority of the share in the kits and consumables market. The development of genomic tools to assist in breeding decisions and the cost and time factors are supporting the growth of the segment in the market.
The NGS in agrigenomics market by application is anticipated to reach $1.4 billion by 2021 at a CAGR of 12.5% from 2016 to 2021.The market share of livestock application is increasing rapidly due to the rise in the number of cross-breeding projects using NGS technology because of the ban on GM technology in the various countries. The major driver for growth in this segment is increasing adaption of rapid methods as these methods are required to decide factors such as, which decontamination process is required, whether any change in process is required, or whether there is any need of personal protective equipment to prevent cross contamination.
With the increasing pressure on the global food production and adoption of NGS technologies in the agricultural industry, the demand for genome sequencing in crops and livestock is expected to increase, which in turn would enhance the growth of the NGS in the agrigenomics market. The market for instruments is also going to increase due to the emergence of disease on crops such as norovirus, Cyclospora and Giarda among others.
Illumina Inc., Agilent Technologies Inc., Ontario Genomics, Genome Atlantic, LGC Limited, BGI, Neogen Corporation, NuGen technologies Inc., Eurofins Genomics and Arbor Biosciences are some of the prominent players in the NGS in agrigenomics market. The market has the presence of a large number of small-sized to medium-sized companies that compete and the large enterprises.
The key players operating in this market have ramped up their merger & acquisition over the recent years, in order to generate public awareness about their existing and new products and technologies, and to compete with the competitors' product portfolio. This has been the most widely adopted strategy by the players in this market. For instance, in January 2018, Zymergen acquired Radiant Genomics. The acquisition enhanced the company's product portfolio which is now used in a range of industries which include agriculture, healthcare, chemicals and materials, and others.
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This report is a meticulous compilation of research on more than 100 players in the NGS in agrigenomics ecosystem and draws upon the insights from in-depth interviews with the key opinion leaders of more than 50 leading companies, market participants, and vendors. The report also profiles approximately 16 companies which include 10X Genomics, Agrigenome, Agrigenomics Inc., Arbor Biosciences, Array Gen, Eurofins Scientific, QT Lomics, LGC Limited, BGI, Neogen Corporation, and NuGen technologies Inc, among others.
Key questions answered in the report:
- What was the size, in terms of value ($million) of the NGS in agrigenomics market in 2016, and what will be the growth rate during the forecast period, 2017-2021?
- What are different sequencing products being supplied by the key players in the NGS in agrigenomics market?
- What was the revenue generation of NGS in agrigenomics for different application in 2016 and what is their growth prospect?
- What is the market size of different kits and instruments, in terms of value and their respective growth prospects and key developments?
- What is the NGS in agrigenomics market size for different regions, based on various types and application?
- What are the key trends and opportunities in the market, pertaining to countries included in different geographical regions?
- How attractive is the market for different stakeholders present in the industry by analyzing the futuristic scenario of NGS in agrigenomics?
- What are the major driving forces that tend to increase the demand for NGS in agrigenomics market during the forecast period?
- What are the major challenges inhibiting the growth of the global NGS in agrigenomics market?
- What kinds of new strategies are being adopted by the existing market players to make a mark in the industry?
- What is the competitive strength of the key players in the NGS in agrigenomics market by market share analysis?
- Who are the key market players in the market, along with their detailed analysis & profiles (including company snapshots, their financials, key products & services, and SWOT analysis)?
About BIS Research:
BIS Research is a global B2B market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on Healthcare, Automotive, Aerospace and Agriculture and other key industries that are seeing rapid technological disruption.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for senior management.
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SOURCE BIS Research