Agriculture

Comprehensive Agrigenomics Market Analysis 2024: Size, Share, And Key Trends

February 22, 2024 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Agrigenomics Global Market Report 2024, the agrigenomics market is expected to show significant growth in the forecast period.

Market Expansion and Projections

Rapid Growth: The agrigenomics market has witnessed significant expansion in recent years.
2023 Statistics: Market size surged to $3.89 billion in 2023.
Expected Growth: Forecasts indicate a rise to $4.34 billion in 2024, with a CAGR of 11.6%.
Drivers of Growth: Increasing demand for sustainable agriculture, rising population, government initiatives, and precision farming practices fueled historic period growth.

Anticipated Growth and Emerging Trends

Future Outlook: The agrigenomics market is poised for rapid expansion in the coming years.
Projected Growth: By 2028, the market is expected to reach $6.61 billion, boasting a CAGR of 11.1%.
Key Growth Factors: Increasing climate change challenges, expanding applications of genomic data, and growing adoption of big data analytics are driving future growth.
Trend Watch: Sustainable agricultural practices, development of new technologies, and government funding are major trends.

Impact of Global Population Growth on Agrigenomics

Population Dynamics: The burgeoning world population significantly contributes to the agrigenomics market’s growth.
Demand for Productivity: Increasing population drives the need for more productive and sustainable farming practices.
Agrigenomics Solutions: Agrigenomics aids in producing nutrient-dense meals and sustaining food production for the growing population.

View More On The Agrigenomics Market Report 2024 – https://www.thebusinessresearchcompany.com/report/agrigenomics-global-market-report

Technological Advancements Driving Market Evolution

Innovative Technologies: Technological advancements are pivotal in reshaping the agrigenomics market.
Focus Areas: Companies are developing new technologies to improve genomic studies and enhance existing platforms.
Case in Point: NEOGEN Corporation’s launch of InfiniSEEK revolutionizes genome sequencing and SNP analysis.

Strategic Acquisitions Shape Market Dynamics

Strategic Moves: Acquisitions play a vital role in expanding companies’ capabilities in the agrigenomics domain.
Example: LGC’s acquisition of Rapid Genomics enhances high-throughput offerings in agricultural genomics.
Market Impact: Strategic acquisitions foster innovation and propel market growth.

Market Segmentation

Service Offerings: Segmentation includes Genotyping, DNA Fingerprinting, Gene Expression Analysis, among others.
Technology: Classifications encompass Real-Time PCR, Microarrays, Next Generation Sequencing, and more.
Sequencer Type: Sanger Sequencing, Illumina Hi Seq Family, Pacbio Sequencers, among others, constitute the segment.
Applications: Agrigenomics finds applications in Crops and Livestock.

Regional Dynamics

North America: Emerged as the largest region in the agrigenomics market share in 2023.
Global Presence: Market expansion is not limited to one region but spans across various geographical locations.

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The Agrigenomics Global Market Report 2024 provides an in-depth analysis on the agrigenomics market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the agrigenomics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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