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Acquisitions and New Product/Service Launches Have Been Adopted by These Players in the Agrigenomics Market
"The agrigenomics market is projected to reach USD 13.56 Billion by 2021, at a CAGR of 7.8% from 2016. The advancement in automated lab instruments is projected to influence the growth of the agrigenomics market. Companies have been focusing on expanding their geographical reach in emerging markets such as Asia-Pacific, Latin America, and the Middle East to support agrigenomics with stringent quality and safety standards. "
Key strategies such as acquisitions and new product/service launches have been adopted by these players in the agrigenomics market. Agilent Technologies (U.S.) and Thermo Fisher Scientific (U.S.) have been involved in acquiring companies which are engaged in agrigenomic research. Agilent Technologies (U.S.), Illumina, Inc. (U.S.), and Thermo Fisher Scientific (U.S.) have been providing customized services in agricultural breeding and genomic study with the help of their technological expertise.
Thermo Fisher Scientific has been strengthening their range of analytical technologies through acquisitions. These acquisitions helped the companies to strengthen their back-end operations, to efficiently streamline their technology supplies, expand their geographical presence, and enhance their existing product portfolio. Thermo Fisher Scientific has been focused on vertical integration by acquiring Alfa Aesar (U.S.) for approximately USD 400 Million (EUR 256 million) which improved the formerís product offerings in the field of life science research, especially in the diagnostics and applied markets.
Illumina has been providing customized services based on sequencing and analytical techniques and also offers certifications to laboratories utilizing its technologies. The standards maintained by Illumina have also become a norm in North America and Europe for conducting different genome projects. Illumina, Inc. (U.S.) has been effective in terms of employing expansion strategies through their international partnership agreements. To build their competencies, the company has diversified their business operations across high-growth markets through effective research collaborations with educational institutions and laboratories. The core strength of the companies has been mostly dependent on their service portfolios and the number of research projects due to the limited client base in the market considering the research requirements. Illumina, Inc. (U.S.) and Genomics England (U.K.) entered into a partnership for developing a platform and knowledge base for utilizing it to enhance and automate genome interpretation. With the rise of biotechnology regulations in emerging markets, the company can diversify its investments to Asia-Pacific and Latin America to offer services based on parentage testing, traceability, and infectious disease identification for livestock species.
Agrigenomics Market by Application (Crops, and Livestock), Sequencer Type (Illumina HiSeq, PacBio, Sanger, SOLiD), Objective (Extraction, Sequencing, Genotyping, Gene Expression, MAS, GMO/Trait Purity), and Region - Global Forecast to 2021
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