Spatial Genomics & Transcriptomics Market Size, Share & Trends Analysis Report By Technology (Spatial Transcriptomics, Spatial Genomics), By Product (Consumables, Software), By End-use, By Region, And Segment Forecasts, 2023 - 2030

Research Methodology

A three-pronged approach was followed for deducing the spatial genomics & transcriptomics market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for spatial genomics & transcriptomics market to gather the most reliable and current information possible.

• We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
• We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
• We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
• We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
• We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of spatial genomics & transcriptomics market data depending on the type of information we’re trying to uncover in our research.

• Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

• Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

• Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

• Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

• Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

• Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

• This step also entails the finalization of the report scope and data representation pattern.

• Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Spatial Genomics & Transcriptomics Market Categorization:

The spatial genomics & transcriptomics market was categorized into four segments, namely technology (Spatial Transcriptomics, Spatial Genomics, ), product (Instruments, Consumables, Software), end-use (Translational Research, Academic Customers, Diagnostic Customers, Pharmaceutical Manufacturer), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The spatial genomics & transcriptomics market was segmented into technology, product, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

• Demand estimation of each product across countries/regions summed up to from the total market.

• Variable analysis for demand forecast.

• Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

• Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

• Used extensively for new product forecasting or analyzing penetration levels.

• Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

• Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

• This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The spatial genomics & transcriptomics market was analyzed at a regional level. The global was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK; Germany; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; Saudi Arabia; South Africa; UAE; Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Spatial genomics & transcriptomics market companies & financials:

The spatial genomics & transcriptomics market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

• 10x Genomics , 10x Genomics is a publicly held company that offers solutions for DNA sequencing. The company provides products for whole genome sequencing, whole exome sequencing, single cell, de novo assembly, and single cell genomics. Currently, the company operates in various regions, including North America, Germany, Asia Pacific, Latin America, and MEA. In December 2018, the company acquired Spatial Transcriptomics to expand its capabilities in biological studies.

• Spatial Transcriptomics , The company is involved in developing a new standard of gene activity analysis for both research and diagnostics. It offers products to research institutes, universities, and pharmaceutical companies. The company provides technology that enables 2D RNA sequencing. The company was established as a joint project between Sweden-based universities, the Royal Institute of Technology (KTH) and Karolinska Institutet.

• Dovetail Genomics , Dovetail Genomics offers solutions to clinicians and researchers to address issues pertaining to structural variation, microbiome analysis, de novo assembly, cancer research, and phasing analysis. The company's proprietary assembly algorithms and in vitro proximity ligation approach simplifies genomic research activities through the integration of genomic information with NGS output.

• 3 Illumina, Inc. , Illumina develops, manufactures, and distributes integrated platforms and systems for sequencing. It is also involved in the analysis and investigation of genomic and proteomic information, determination of biological function, and expression of gene sequence. The company provides Next-Generation Sequencing (NGS) platforms for genotyping, sequencing, and gene expression analysis. It operates mainly in North America and Europe. It is involved in developing novel sequencing technologies aimed at reducing the cost of sequencing whole genomes. It offers genomic and molecular diagnostic products and services to cater to the fields of oncology, microbial genomics, drug development, agrigenomics, forensic genomics, infectious diseases surveillance, molecular epidemiology, and translational research involving HLA sequencing and associated applications.

• S2 Genomics, Inc. , S2 Genomics, Inc. is a privately held company developing singulator systems for processing solid tissues into nuclei, nucleic acids, and single cells for single cell-based NGS applications. The company is in the R&D stage of product development.

• NanoString Technologies, Inc. , NanoString Technologies, Inc. is engaged in developing life science tools. It offers products for molecular diagnostics and translational research. Their products are based on novel digital molecular barcoding technology. The company offers systems for expression profiling of microRNAs, genes, proteins, or copy number variation. The company’s products are useful in basic research and translational medicine applications such as discovery and validation of biomarkers. As of December 2016, the company has an installed base of approximately 480 systems.

• Seven Bridges Genomics , Seven Bridges Genomics is a biomedical data company that focuses on developing software and data analytics to accelerate healthcare research activities. The company provides bioinformatics solutions, including analytic workflows and algorithms, scientific support, access to datasets, and cloud computing infrastructure. It caters to the biopharmaceutical industry, NGS-based healthcare industry, and government and academic entities.

• Horizon Discovery Ltd. , Horizon Discovery Ltd. offers products, services, and research programs to clients engaged in healthcare research and development. The company has offices in the UK, Europe, and the U.S. It supplies research tools and expert services to more than 1,600 organizations involved in genomics R&D of personalized medicines across the globe. These organizations include biotechnology, pharmaceutical and diagnostic companies, and academic research centers. It offers products and services for cell line development, in vivo models, and bioproduction. Its research services portfolio includes functional genomic screening, immuno-oncology platform, in vitro assay services, drug combination, and in vivo assay services. It also provides services and products for Sanger & qPCR sequencing, immunohistochemistry, NGS, and FISH.

• CARTANA AB , CARTANA AB is a biotechnology company that maps gene expression using spatial sequencing technology. It caters to multiple scientific fields, including immunology, neuroscience, and oncology. It promotes cellular and molecular biology-based research programs, disease diagnostics, and treatment development. The company's partners and collaborators are Vinnova, SciLifeLab, Novo Nordisk Foundation, Stockholm University, and Karolinska Institutet Innovations AB.

• READCOOR, INC. , READCOOR, INC. is engaged in drug development and disease diagnosis using sequencing reads that include panoromic spatial data. The company is involved in optimizing sequencing library construction, applying new microscopy and sequencing modalities, and increasing the number of molecules sequenced per cell to advance its spatial sequencing frontier. Its partners are Bill and Melinda Gates Foundation, WAVE Life Sciences, Intelligence Advanced Research Projects Activity (IARPA), and The Joint Pathology Center.

• Bio-Techne , Bio-Techne is a global company engaged in the development and commercialization of high-quality purified proteins, such as antibodies, growth factors, and cytokines, as well as biologically active small-molecule compounds to serve biomedical and clinical applications. The company's products assist several scientific investigations, including biological procedures, nature, and progression of specific diseases. Its brands include Advanced Cell Diagnostics, Novus Biologicals, R&D Systems, Tocris Bioscience, Exosome Diagnostics, ProteinSimple, RNA Medical, BiosPacific, Bionostics, BostonBiochem, and Cliniqa.

Value chain-based sizing & forecasting

Supply Side Estimates

• Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

• Segment revenue determination via variable analysis and penetration modeling.

• Competitive benchmarking to identify market leaders and their collective revenue shares.

• Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

• Identifying parent markets and ancillary markets

• Segment penetration analysis to obtain pertinent

• revenue/volume

• Heuristic forecasting with the help of subject matter experts

• Forecasting via variable analysis

Spatial Genomics & Transcriptomics Market Report Objectives:

• Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

• Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

• Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Spatial Genomics & Transcriptomics Market Report Assumptions:

• The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

• The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

• We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

• All market estimates and forecasts have been validated through primary interviews with the key industry participants.

• Inflation has not been accounted for to estimate and forecast the market.

• Numbers may not add up due to rounding off.

• Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

• Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

• Latin America includes Central American countries and the South American continent

• Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

• Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

• Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.