With food security gaining momentum on the global scale, the governments of various countries are promoting the use of technologies like genomics and sequencing in the field of agriculture. The increasing demand for environment-friendly innovative production methods, modernization in the agriculture sector, and high yield of crops have presented new opportunities for further development in the agrigenomics technology. According to the market Intelligence report by BIS Research titled, ‘Global NGS in Agrigenomics Market- Analysis & Forecast (2017-2021)’, the market is expected to reach the value of $ 1.4 billion by the end of 2021, registering a CAGR of 12.5% during the forecast period of 2017-2021. This significant growth is attributed to the increasing demand of genome sequencing products, government investments in NGS technologies, and rising penetration of this technology in crops and livestock. Moreover, advancements in the genomic technology with a variety of post-sequencing analysis techniques and governmental support in the developed countries is further escalating the market for NGS technology.
Agrigenomics helps the farmers, breeders, and researchers, to identify the genetic sequences which can be used to determine desirable traits and take better breeding decisions. It also helps in improving aquaculture, where enticing characteristics like disease resistance and increased stress tolerance can be induced in the aquatic organisms. The NGS in agrigenomics market encompasses two major applications which are crops and livestock. The market share of livestock application is rapidly rising owing to an increase in the number of cross-breeding projects using the NGS technology. Advanced research and development activities in livestock applications such as sheep, cattle, and dairy have increased the importance of genome sequencing, which is used to prevent various diseases in the livestock industry, in the developed markets.
Continuous advancements in NGS technology have created a significant impact on the agriculture and animal research by providing solutions to the complex biological problems of food, nutrition, and agriculture through massively parallel, rapid, and low-cost genotyping sequencing of any plant or animal species. Further, the market is also going to drive up due to the emergence of new infection threats on crops such as Norovirus, Cyclospors, and Giarda. However, certain factors that are inhibiting the growth of this technology are huge investments required for the development of advanced technology and uncertain responses from the regulatory bodies.
Based on the product type, the global agrigenomics market is segmented into kits & consumables, instruments, and others. Currently, kits & consumables segment is leading the market at the global level owing to the development of genomic tools to assist in breeding decisions and the reduction in the cost as well as the time, compared to other existing segments. However, it is expected that the instruments segment will grow at the highest CAGR during the forecast period.
BIS Research has conducted an extensive research on the global NGS in agrigenomics market and compiled the observation and insight in this report. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.
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