Pune, July 19, 2024 (GLOBE NEWSWIRE) -- Plant Genotyping Equipment Market Analysis:
“As per the SNS Insider Research, The Plant Genotyping Equipment Market size was valued at US$ 751.85 Million in 2023, and is estimated to reach US$ 1662.43 Million by 2032 with a growing CAGR of 9.22% over the forecast period 2024-2032.”
The Plant Genotyping Equipment Market is witnessing substantial growth due to technological advancements and increasing demand for efficient, high-yield crop production methods. These innovations facilitate precise genetic analysis, fostering sustainable agricultural practices and improving crop resilience against environmental stressors.
Growing Demand
The expanding global population and, consequently, rising food demand represent the major drivers of the Plant Genotyping Equipment Market’s development. The necessity to produce high-yielding plants is more topical than ever, and genotyping equipment is the only instrument that can help in this regard. Thus, the market report shows that the use of genotyping technologies has increased significantly and, as a rule, the highest growth was registered in areas with increasing agricultural activities. Regarding the scope of the market report as such, it is focused on the in-depth analysis of various genotyping methods. At the same time, it is necessary to note that SNP genotyping remains the most prominent type of this technology and covers the majority of the market. The reason for its predominance is that SNP technology is the most precise and efficient way of identifying genetic differences. Moreover, this segment is critical in the use of marker-assisted selection programs that aim to improve pest resistance, drought and frost tolerance, and other crop-related traits.
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Major Players Analysis Listed in this Report are:
- Agilent Technologies Inc.
- BGI Genomics
- Eurofins Scientific
- Evogene Ltd.
- Illumina Inc.
- LGC Biosearch Technologies
- Merck KgaA
- Oxford Nanopore Technologies Limited
- PerkinElmer Inc.
- Promega Corporation
- Thermo Fisher Scientific
- Other Players
The Plant Genotyping Equipment Market offers various opportunities for its further development, the strongest of which are technologically-driven and deal with research funding. Thus, the growing global population puts pressure on governments and private institutions to invest in agriculture and biotechnology, which further leads to advancements in genotyping tools. Finally, a significant increase in demand for high-throughput genotyping is observed because it is the only method that helps conduct large-scale genotyping analysis at a lower cost and time expenditure. The use of bioinformatics tools alongside genotyping machines is another advancement, which helps effectively manage and analyse the huge amounts of data quickly and accurately.
Plant Genotyping Equipment Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 751.85 Million |
| Market Size by 2032 | US$ 1662.43 Million |
| CAGR | CAGR of 9.22% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | • Increased pressure to feed a growing population drives demand for plant genotyping equipment to identify traits for higher yield and disease resistance in crops. • Personalized agriculture adoption fuels the plant genotyping equipment market as it allows selection of seeds optimized for specific environments. |
Segmentation Analysis
In 2023, the SNP genotyping equipment segment dominated the market with a revenue share of 42.56%. SNPs play a vital role in identifying genetic variation related to a desired character in plants, which in term is a key driver of the segment’s growth. The liquid handler segment is expected to register the highest CAGR, due to demand for automation has been increasing over the years in the genotyping process.
In 2023, the breeding segment became the leading segment with a revenue share of 42.29%. Advances in Genotype-By-Sequencing (GBS) have provided new opportunities for plant genetics and breeding research by offering an affordable and efficient tool for large-scale genome-wide scanning. The laboratory segment also had a significant share of the market. Many research labs are using plant genotyping to better understand the biology of plants.
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Plant Genotyping Equipment Market Key Segmentation:
By Equipment
- SNP Genotyping Equipment
- Real-time PCR Instruments
- DNA Analyzer
- Liquid Handler
- Others
By Application
- Plant Research
- Breeding
- Product Development
- Quality Assessment
By End Use
- Greenhouse
- Field
- Laboratory
Key Regional Development
North America led the Plant Genotyping Equipment Market in 2023, claiming the highest revenue share of about 38.42%. The United States is one of the leading countries in the agricultural and biotechnology sector, which is augmenting the demand for advanced plant genotyping equipment. The prominent biotech companies and research organizations and the high investment in agricultural and genomics research are the key reasons for North America’s dominance.
Asia-Pacific region dominated the highest CAGR of 24.44% over the forecast period. China and India are the major revenue contributors as well as the fastest-growing regions of the Global Plant Genotyping Equipment Market. The high population growth rate and the increasing demand for food have augmented the need for improved crop productivity and quality. The companies, alongside the governments, in those countries, invest in a lot of resources in the agricultural and biotechnology industries, promoting the adoption of plant genotyping equipment.
Future Growth
The growth of the Plant Genotyping Equipment Market in the future is to be strong, mainly due to continuous development and improvements in technology and rising investments in agricultural research. The further development of genotyping devices, creating as effective and affordable solutions as possible, will enable to implement these innovative technologies to an even greater extent in various breeding programs. Another potential trend is also the use of artificial intelligence and machine learning in combination with genotyping equipment, which would additionally facilitate the detection of various genetic properties, facilitating and accelerating these processes.
The rising trends in the field will also involve portable genotyping devices, which simplify equipment use and indicate the problem of efficient and effective business operation. These instruments support the regular monitoring of various parameters and allow for on-site genetic analysis, providing real-time results and effectively ensuring the rapid genotyping of plants. Such equipment is highly practical, especially in remote areas and places without analytical laboratories.
Recent Developments
In April 2023: PerkinElmer Inc. Released the Genotyper Flex for Plants, an excessive-throughput SNP genotyping instrument for plant breeding and research. The device makes use of the Genotyper Flex platform to genotype up to 1,000 SNPs in an unmarried response.
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Key Takeaways
- The report provides comprehensive analysis and insights into the Plant Genotyping Equipment Market, which helps clients to understand market dynamics and finding growth opportunities.
- It enables clients to understand the latest technological development and innovation in genotyping equipment to stay ahead of market trends.
- Facilitates clients with in-depth segmentation analysis, which enables them to identify the major and emerging growth sectors and to invest the focus accordingly.
- Highlights key regional development and focuses on developing expansion plans and strategies.
- Provides discussion on potential future growth opportunities and emerging trends in the Market, conclude market potential and take informed business decisions.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Plant Genotyping Equipment Market Segmentation by Equipment
8. Plant Genotyping Equipment Market Segmentation by Application
9. Plant Genotyping Equipment Market Segmentation by End-User
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Use Case and Best Practices
14. Conclusion
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