Plant Genomics Market: An Emerging Market with Attractive Growth Opportunities

The plant genomics market is estimated to account for a value of USD 7.3 billion in 2019 and is projected to grow at a CAGR of 8.3% from 2019, to reach a value of USD 11.7 billion by 2025. The increasing application of genomics in plant breeding and conservation of genetic resources are techniques that are gaining the attention of many researchers globally and are driving the growth of the market.

The molecular engineering
segment is estimated to witness the fastest growth in the plant genomics
market, in terms of value, from 2019 to 2025

Molecular
engineering is the process of improving the genotypic characteristics of plants
through the application of molecular markers. Plant molecular engineering is
the process of modification of plant material or plants for the production of
novel compounds or to improve the efficiency of beneficial products. The
benefits associated with molecular engineering technologies are the major
factors contributing to the fastest growth of this market, globally.

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The demand for healthy cereals
& grains has created opportunities for seed manufacturers to adopt modern
plant sequencing techniques

The growth in the adoption of various molecular breeding types,
such as molecular engineering and genetic engineering tools, would increase the
performance of crops to gain better prices in the market. The focus of the
plant breeders and plant sequencing companies is on cereals and grains because
they are the staple diet of the population in almost all the regions, and as
the population of the world is increasing, so is the demand for the staple
food. Among cereals & grains, rice, wheat, and corn are majorly bred using
plant breeding & sequencing techniques, to develop high-performing
varieties. Rice, along with wheat and corn, underpins the global food supply.

The increasing demand for
improved varieties in plants in the Asia Pacific region is driving the growth
of the plant genomics market.

The key players in various countries of the Asia Pacific region
are focusing on directing their investments toward biotechnology research on
food crops and crops of high commercial value to cater to the increasing food
requirements and to reduce poverty, particularly among resource-poor farming
households. With the adoption of modern plant breeding techniques, new crop
cultivars can be developed to ensure high crop productivity. Also, key
strategies such as the adoption of advanced plant technology by the leading
players in the Asia Pacific region ensure food security globally among the
end-users. Also, the government in various countries of the region are
encouraging companies to adopt these methods by investing in R&D of
agricultural biotechnology.

This report includes a study on the marketing and development
strategies, along with a study on the product portfolios of the leading
companies operating in the plant genomics market. It includes the profiles of
leading companies such as Eurofins Scientific (Luxembourg), Illumina, Inc.
(US), NRGene (Israel), Neogen Corporation (US), Qiagen (Germany), Agilent
Technologies (US), KeyGene (Netherlands), LC Sciences (US), Traitgenetics GmbH
(Germany), Novogene Corporation (China), Oxford Nanopore Technologies (UK),
Genewiz (US), BGI Genomics (China), Genotypic Technologies (India), and
Floragenex (US).

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