Spatial genomics is concerned with studying the complete set of genetic commands provided by the DNA to detect and diagnose the cancer tumour cells. Spatial genomics is used in controlling the disease as it provides quantitative gene expression data. Spatial genomics further provides information about DNA and RNA visualization mapping into tissue components.
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Rising prevalence of cancer
Growing incidence rate of breast cancer globally is one of the major factors fostering the growth of the market. The identification of both intra- and inter-tumour heterogeneity in breast cancer has widened the scope of growth for the market. More than 1 million cases per year are witnessed in India and this condition may prevail for lifetime if not treated properly.
Research and development proficiencies
Rising expenditure for research and development proficiencies especially in the developed and developing economies pertaining to the medical instruments and devices will further create lucrative market growth opportunities. Research and development proficiencies being conducted for the advancements in medical technologies and devices is also bolstering the market growth rate.
Furthermore, upsurge in the public-private funding for target research activities, increasing investment in genomics, advancement in genomics tools, growing demand for advanced techniques for the study of spatial patterns and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029.
Additionally, unhealthy lifestyle of individuals, rising internet penetration rate, increasing use of spatial omics for biomarker identification, product development and commercialization and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
North America dominates the spatial genomics market because of the strong base of healthcare facilities, widespread utilization of medications, increasing occurrence of lifestyle diseases, increasing consciousness regarding the essence of maintaining good health and rising number of research activities in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, growing research activities in the region, availability of massive untapped markets, increasing occurrence of lifestyle diseases, large population pool, and the growing demand for quality healthcare in the region.
Some of the major players operating in the Spatial Genomics Market are Thermo Fisher Scientific Inc. (US), 10X Genomics (US), NanoString Technologies Inc. (US), Illumina Inc. (US), Bio-Rad Laboratories, Inc. (US), QIAGEN (Netherlands), Agilent Technologies, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland) among others.
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