India Plant Genomics Market Size Set to Expand at CAGR 7% During 2023–2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the India plant genomics market size to grow at a steady CAGR of 6.91% during the forecast period between 2023 and 2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the India plant genomics market size to grow at a steady CAGR of 6.91% during the forecast period between 2023 and 2029. Favorable government policies and public financing to boost plant genome research and development as well as advancements in the agriculture sector are major growth factors for the India plant genomics market. Furthermore, an increasing demand for enhanced crop varieties are projected to offer lucrative growth opportunities to the players in the India plant genomics market during the period in analysis.
India Plant Genomics Market – Overview
Plant genomics attempts to sequence, characterize, and analyze the genetic makeups, organizations, structures, and functions of a full plant genome, as well as their relationships and networks. Researchers can gain a better understanding of how epigenetic factors regulate these and other features in an interesting species by utilizing sequencing to detect changes in DNA methylation, chromatin structure, and small RNA expression. Using numerous samples, the genomics technique sequences predetermined regions of genetic variation. Numerous conventional breeding techniques are still regularly employed. However, when genetic variations are linked to advantageous crop features by scientists, more breeders are increasingly using genomic technologies in conventional breeding approaches.
India Plant Genomics Market – By Objective
Based on objective, the India plant genomics market is segmented into DNA extraction & purification, DNA/RNA sequencing, genotyping, gene expression profiling, marker-assisted selection, GMO-trait purity testing, others (hybrid purity testing, targeted resequencing, DNA parentage testing, QTL mapping, and genetic disease identification). The DNA/RNA sequencing segment accounts for the highest market share. The DNA/RNA sequencing method provides greater insights into gene expression levels that are expressed at different levels during development, disease, and stress, due to which it has high demand in the agricultural industry.
Impact of COVID-19 on the India Plant Genomics Market
The COVID-19 pandemic affected the growth of the India plant genomics market. The rapid spike in the number of COVID-19 infected patients led the Indian Government to impose strict lockdown measures, which resulted in an immediate shutdown of all non-COVID-19 and vaccine development research activities. Furthermore, agricultural activities were also hindered due to labor shortages and hindrances in the supply chains, which also affected the market growth negatively. The India plant genomics market is expected to register moderate growth during the post-pandemic period as well, due to the shift in focus and investments from agriculture to the healthcare sector.
Major players operating in the India plant genomics market include Eurofins Scientific, Illumina Inc, NRGene, Neogen Corporation, Agilent, and LC Sciences.LLC, Traitgenetics GmbH, Keygene, Novogene Co. Ltd, and GeneWiz. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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