Spatial Genomics Market by Type (Genomics, Transcriptomics) Technology (Sequencing, Imaging) Application (Oncology, Neurology) Offering (Consumables, Instrument, Software) End User (Pharmaceutical & Biotechnology, CRO) - Global Forecast to 2031

The Spatial Genomics Market was valued at $0.46  billion in 2023. This market is expected to reach $3.23  billion by 2031, from an estimated $0.59  billion in 2024, at a CAGR of 27.8% during the forecast period 2024-2031.

Spatial Genomics & Transcriptomics Market Size & Forecast

Spatial genomics aims to assess the genomic information of individual cells within their native tissue environment. Understanding the association between cells and their specific locations within tissue is crucial for comprehending normal development and disease pathology. A cutting-edge technique within spatial genomics is spatial transcriptomics, a molecular profiling method enabling researchers to quantify gene activity across a tissue sample and pinpoint where this activity is taking place. Spatial genomics applications extend beyond the cellular or tissue level, allowing for the analysis of subcellular transcriptional dynamics. This approach effectively addresses challenges encountered by traditional technologies like single-cell sequencing, offering a clearer perspective of the genome. This clarity proves valuable in translational and drug research.

The growth of the spatial genomics market is driven by the increasing applications of spatial genomics in drug discovery & development, the growing use of spatial genomics in cancer research, advancements in Next-generation Sequencing (NGS), the increasing use of spatial genomics in biomarker detection, and the rising prevalence of cancer. However, the lack of standardized approaches in genomics and concerns over the security & privacy of genomic data restrain the growth of this market.

Furthermore, the rising adoption of personalized medicines and gene therapies and increasing investments in spatial genomics are expected to generate growth opportunities for the players operating in this market. However, complexities in data analysis and slow technology adoption are major challenges impacting market growth.

Increasing Applications of Spatial Genomics in Drug Discovery & Development Driving Market Growth

Pharmaceutical and biotechnology companies are focusing on research and development, with R&D expenditures increasing globally. For instance, according to the International Federation of Pharmaceutical Manufacturers & Associations (IFPMA), global pharmaceutical R&D expenditure is expected to increase to USD 213 billion in 2026 from USD 189 billion in 2022. Spatial genomics has become increasingly important in ensuring precision and accuracy in drug research & development and reducing the time required for research.

Numerous drug discovery processes can benefit from the use of spatial genomics, including drug compound synthesis, screening, delivery, and the development of carrier systems. Spatial transcriptomics allows researchers to visualize biomarkers, spatial interactions, and tumor transcriptomes in their native architecture, enabling them to better identify potential drug targets and resistance mechanisms.

Tumor heterogeneity is a major challenge in oncology drug discovery and development. Identifying new targets and appropriate model systems requires an accurate spatial and molecular disease taxonomy. Advances in spatial genomics are enabling the broad characterization of tumor structure, contextualization of established biomarkers, and de novo identification of interactions. Thus, the increasing applications of spatial genomics in drug discovery & development are boosting the adoption of spatial genomics & transcriptomics products.

Introduction of Multiplexed Spatial Genomics is a Trend Prevailing the Market

In many cases, a single molecular event is inadequate to understand disease pathology. Therefore, there is a growing need to develop multianalyte-based tests. Recent technological advancements in spatial transcriptomics have resulted in the development of multiplexed methods. Multiplex imaging allows researchers to simultaneously visualize multiple targets in a single sample, which is important for studying complex biological systems and can help researchers better understand how different molecules and pathways interact with each other, tissue architecture, and disease progression spatially.

According to Nucleai (U.S.), multiplex imaging is a developing technology that stains many proteins on a single slide while maintaining tissue architecture, which provides significant insights into spatial biology and the complexity of the immune tumor microenvironment (iTME). Present multiplex technologies can map as many as 100 unique protein markers to detect cells and their functional state within a single slide, providing a highly detailed picture of the iTME.

Key players are also launching multiplex imaging platforms for spatial analysis to gain a competitive edge in the market. For instance, in November 2022, Nucleai (U.S.) launched a multiplex imaging spatial analysis solution for drug discovery and development. The platform integrates multiplex imaging with machine learning to increase process speed and data reliability.

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Key Findings of the Global Spatial Genomics & Transcriptomics Market Study:

In 2024, the Instruments Segment is Expected to Account for the Largest Share of the Spatial Genomics & Transcriptomics Market

Based on the offering, the global spatial genomics & transcriptomics market is segmented into instruments, consumables, and software & services. The large market share of the instruments segment is attributed to the need for higher sensitivity and productivity in drug development procedures, increasing demand for instruments for translation and drug development research, and technological advancement in instruments. Additionally, Key players are introducing advanced instruments to fulfill researchers’ requirements, contributing to the largest share of the segment. For instance, in December 2022, 10x Genomics, Inc. (U.S.) launched the Xenium platform, which can sequence the transcripts of thousands of genes in a high-throughput, non-destructive manner.

The Genomics Segment Is Projected to Register the Highest CAGR During the Forecast Period

Based on type, the global spatial genomics & transcriptomics market is segmented into genomics and transcriptomics. The genomics segment is expected to grow at the highest CAGR during the forecast period. The increasing application areas of spatial genomics to provide insights about tissue arrangements and its efficiency in analyzing cell samples within intact tumor cells are propelling the adoption of spatial genomics.

Among the Technologies, in 2024, the Imaging Based Segment is Expected to Account for the Largest Share of the Market

Based on technology, the global spatial genomics & transcriptomics market is segmented into sequencing based and imaging based. The larger share of this segment is attributed to the ability of imaging-based technology to be applied to archival materials and frozen tissues. Imaging-based technologies mainly consist of in situ hybridization and in situ sequencing. Imaging technologies can be combined with immunohistochemistry to detect the protein/mRNA of interest or the phenotype of cells expressing the target genome; detecting more than one nucleic acid sequence is increasing the demand for these technologies. The key players in this market are focused on introducing ISH-based products. For instance, in May 2023, Spatial Genomics (U.S.) introduced the GenePS system, an automated instrument based on seqFISH technology that has an exceptional capacity to panel over 1,000 genes at high resolution.

The Oncology Segment Is Projected to Register the Highest CAGR During the Forecast Period

Based on application, the global spatial genomics market is segmented into oncology, neurology, and other applications. The oncology segment is expected to grow at the highest CAGR during the forecast period. The increasing prevalence of cancer (malignant tumor) and the development of spatial genomics products for the analysis of various biomarkers, including proteins, circulating tumor cells, exosomes, and cell-free DNA, contributed to the highest CAGR of the segment. For instance, cancer is a major health concern globally and is one of the leading causes of morbidity and mortality across the world. According to GLOBOCAN, the global burden of cancer is expected to increase from 19.3 million cases in 2020 to 24.6 million cases by 2030.

In 2024, the Pharmaceutical & Biotechnology Companies Segment is Expected to Account for the Largest Share of the Market

Based on end user, the global spatial genomics & transcriptomics market is segmented into pharmaceutical & biotechnology companies, contract research organizations, and other end users. In 2024, the pharmaceutical & biotechnology companies segment is expected to account for the largest share of the market. The rising number of research laboratories, increasing investment in R&D, and rising funding for research laboratories support the largest share of the market. The funding for research laboratories is increasing due to the increasing demand for new drugs and therapies. The NIH funding increased from USD 33 billion in 2015 to USD 42 billion in 2021 for research purposes (Source: Congressional Research Service).

Asia-Pacific: Fastest Growing Regional Market

Asia-Pacific is expected to grow at the highest CAGR during the forecast period. The growth of the spatial genomics & transcriptomics market in Asia-Pacific is attributed to rising pharmaceutical R&D spending, growth in biotechnology industries in several countries, the increasing prevalence of chronic and infectious diseases, and the rising number of research laboratories in Asia-Pacific. For instance, in 2022, the R&D spending of BeiGene Ltd. (China), one of the major pharmaceutical companies, increased by 12.4% from 2021.

Spatial Genomics & Transcriptomics Market: Key Players

The report offers a competitive landscape based on an extensive assessment of the product portfolio offerings, geographic presences, and key strategic developments adopted by leading market players in the industry over the years. The key players operating in the global spatial genomics & transcriptomics market are NanoString Technologies, Inc. (U.S.), 10X Genomics, Inc. (U.S.), Illumina, Inc. (U.S.), Oxford Nanopore Technologies Plc. (U.K.), Akoya Biosciences, Inc. (U.S.), Revvity, Inc. (U.S.), S2 Genomics, Inc. (U.S.), Cantata Bio (U.S.), Vizgen Inc. (U.S.), Biospyder Technologies Inc. (U.S.), and Resolve Biosciences GmbH (Germany).

Spatial Genomics & Transcriptomics Market Report Summary:

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