Molecular Breeding Global Market Report 2023
Major players in the molecular breeding market are Illumina Inc., LGC Limited, Eurofins Scientific SE, Thermo Fisher Scientific Inc., SGS S.A., Intertek Group plc, DanBred P/S, LemnaTec GmbH, Charles River Laboratories, Slipstream It Solutions Private Limited, Fruitbreedomics, The Toro Company, Campbell Scientific Inc.
New York, July 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Molecular Breeding Global Market Report 2023" - https://www.reportlinker.com/p06480055/?utm_source=GNW
, Sentek Technologies, and Keygene N.V.
The global molecular breeding market is expected to grow from $2.90 billion in 2022 to $3.45 billion in 2023 at a compound annual growth rate (CAGR) of 19%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The molecular breeding market is expected to reach $6.6 billion in 2027 at a CAGR of 17.8%.
The molecular breeding market consists of revenues earned by entities by providing genotyping, marker-assisted selection, genomic selection, and bioinformatics services.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Molecular breeding is a technique to identify and select desired genetic traits in organisms, by identification of specific genes or markers that are linked to the desired traits, which can be used to track those traits through generations of breeding.
North America was the largest region in the molecular breeding market in 2022.Asia-pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in molecular breeding report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main processes of molecular breeding are QTL (Quantitative Trait Locus) mapping, marker-assisted selection, marker-assisted backcrossing, genomic selection, and others.QTL mapping refers to Quantitative Trait Locus mapping, a statistical method of genetic research to identify the regions of the genome that are associated with particular quantitative traits.
It is used in molecular breeding to identify trials such as height, weight, or disease susceptibility. The molecular breeding is typically segregated by single sequence repeats (SSR), single nucleotide polymorphism (SNP), and others that are applied in crop breeding and livestock breeding.
Increased cultivation of industrial and high-value crops is expected to propel the growth of the molecular breeding market going forward.The cultivation of industrial and high-value crops refers to agribusinesses focusing on crops with a higher value in the market due to their use in various industrial applications.
Molecular breeding helps cultivate high-value crops by giving plants superior traits like disease resistance, high-crop yields, and draught resistance.Hence, the increasing cultivation of industrial and high-value crops will support the growth of the molecular breeding market.
For instance, in January 2022, according to the National Agricultural Statistics Service, a United States Department of Agriculture, production of corn rose from 81,313 per 1000 acres in 2020 to 85,388 per 1000 acres in 2021.Further, soybean production has increased from 82,603 per 1000 acres in 2020 to 86,322 per 1000 acres.
Therefore, the increased cultivation of industrial and high-value crops is driving the growth of the molecular breeding market.
Technological advancements are a key trend gaining popularity in the home molecular breeding market.Major companies operating in the molecular breeding market are adopting new technologies to sustain their position in the market.
For instance, in August 2021, HudsonAlpha Institute for Biotechnology, a US-based biotechnology company, launched a computational tool called Khufu for plant breeding.This tool enables quick and accurate identification and analysis of complex genome variants.
This computational tool help in the identification of genetic factors and selection of beneficial traits for new breeding practices and introduce new and improved characteristics in existing crop lines.
In November 2022, Bayer AG, a Germany-based pharmaceutical and biotechnology company acquired Targenomix for an undisclosed amount.This acquisition broadens, diversifies, and enriches molecular breeding technology by adding advanced computational life science tools which will accelerate the development of potential molecules for the agricultural production of insect, weed, and disease-resistant plants.
Targenomix is a Germany-based biotechnology company that adopts a biology approach for implementing molecular biology, metabolomics, transcriptomics fused by data integration.
The countries covered in the molecular breeding market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The molecular breeding market research report is one of a series of new reports that provides molecular breeding market statistics, including molecular breeding industry global market size, regional shares, competitors with a molecular breeding market share, detailed molecular breeding market segments, market trends and opportunities, and any further data you may need to thrive in the molecular breeding industry. This molecular breeding market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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