The global precision pest management market was valued at $1,748.4 million in 2021 and is expected to reach $4,396.3 million by 2027, following a CAGR of 16.43% during 2022-27. Stringent food safety regulations coupled with increasing production with reduced production costs are expected to drive the precision pest management (PPM) market over the forecast period.

Market Lifecycle Stage

Precision pest management can be defined as using technologies and strategies to monitor, prevent, avoid, and suppress pests, diseases, weeds, and other living things that directly or indirectly disrupt agricultural production processes. The purpose of precision pest management is to enhance the quality of crops and minimize the negative impacts of pest control on resources such as soil, water, air, plant, and humans or animals. Pests associated with agriculture include weeds, insects, and diseases. Precision pest management solutions rely on different tools and methods to reduce the impacts of pests on crops. Precision pest management includes monitoring pests and spraying or pest management.

Impact

• The damage caused by pests, diseases, and weeds can be costly and irreversible. PPM aims to eliminate pest problems while reducing environmental and human health hazards. In this approach, various tools are used in order to identify and reduce pest infestations early on. The goal is to maximize farm productivity. PPM provides actionable information for this purpose.
• Digital farming is poised to bring about an unprecedented revolution in agriculture by illuminating, predicting, and significantly influencing the continuum of cultivation issues across modern farms. With the development of predictive algorithms, analytics, and cutting-edge technologies, modern agriculture is pursuing ways to deal with harmful pests and plant diseases precisely and scientifically.

Impact of COVID-19

Almost all major industries in the world have been affected by the COVID-19 pandemic, including the agricultural industry. Worldwide economic instability has accompanied the pandemic, and the gross domestic product (GDP) of all countries declined in 2020. This disruption of normal life because of the pandemic has led to new technologies and innovations in every sector, including agriculture. The pandemic’s potential impact on the adoption of artificial intelligence (AI) and the Internet of Things (IoT) has increased the traction of precision pest management.

Market Segmentation:

Segmentation 1: by Application

• Area-Wide Pest Control
• Site-Specific Pest Control

Based on application, the global precision pest management market is anticipated to be driven by area-wide pest control. Area-wide pest management is implemented to prevent pest outbreaks at a larger spatial resolution where many agricultural plots are included. Increasing horticulture areas in emerging economies are expected to drive the area-wide pest control demand over the forecast period.

Segmentation 2: by Technology

• Monitoring
• Spraying

Based on technology, spraying dominates the precision pest management market and is projected to remain the largest segment over the forecast period. Precision spraying technology is about adjusting the quantity of crop protection substance application by field to attain the best results, leading to a large amount of expense savings and yield enhancement. Furthermore, food safety regulations are strict in many countries. Low pesticide use makes precision spraying effective at reducing toxic substances in foods.

Segmentation 3: by Solution

• Hardware
• Software
• Services

Hardware was the major solution segment in the precision pest management market in 2021, with a market share of over 55%. The rapid expansion of the precision pest management market is related to the increase in demand for sensors, auto steering, and variable rate spraying technologies. With the growing demand for precision pest management hardware, demand is also expected to grow with a significant CAGR over the forecast period.

Segmentation 4: by Region

• North America – U.S., Canada, and Mexico
• Europe – Germany, France, Spain, Italy, The Netherlands, Denmark, and Rest-of-Europe
• China
• U.K.
• Asia-Pacific – India, Japan, Australia, South Korea, and Rest-of-Asia-Pacific
• Middle East and Africa – Israel and Rest-of-Middle East and Africa
• South America – Brazil, Argentina, Peru, and Rest-of-South America

North America generated the highest revenue, around $700 million, in 2021 and is expected to remain the largest region by 2027. Demand for precision pest management is increasing across North America due to a growing labor shortage in agriculture and rising input costs. One of the primary reasons for the early adoption and vast acceptance of PPM solutions in the North America region is the high technological advancements.

Recent Developments in the Global Precision Pest Management Market

• In September 2022, Trimble inked a contract to buy Bilberry, a firm that manufactures equipment for targeted weed spraying and is based in France.
• In March 2022, Deere & Company introduced See & Spray Ultimate. Farmers can spot-spray non-residual herbicide on weeds among corn, soybeans, and cotton using the factory-installed system. The technology underlying the green-on-green solution was developed by Blue River Technology, an artificial intelligence provider that Deere acquired in 2017.
• In December 2021, Kubota Corporation partnered with Bloomfield Robotics, which is a company that delivers plant growth monitoring services to tree crops. The company uses image analysis technology and artificial intelligence (AI) to assess plant growth and detect pests on the grape, blueberry, and other tree crops.
• In October 2021, Yanmar launched the YV01 autonomous spraying robot, which was developed in cooperation with European vineyards.

Demand – Drivers and Limitations

Following are the demand drivers for the precision pest management market:

• Increasing Pesticide-Free Food Demand
• Substantial Cost Saving
• Rapid Adoption of Advanced Technologies in Agriculture

The market is expected to face some limitations as well due to the following challenges:

• High Initial Capital Investment
• Lack of Awareness in Underdeveloped and Emerging Economies
• Less Feasible for Small Landowners

How can this report add value to an organization?

Product/Innovation Strategy: The product segment helps the reader understand different types of precision pest management products available for deployment in the agricultural and non-agricultural industries. Moreover, the study provides the reader with a detailed understanding of which products need to be used for particular applications. It also provides a study on which solutions (hardware, software, and services) are primarily provided through precision pest management. This report provides forecast demand for each product and detailed information regarding major manufacturers.

Growth/Marketing Strategy: The global precision pest management market has seen major development by key players operating in the market, such as business expansion, partnership, collaboration, and joint venture. The favored strategy for the companies has been partnerships, collaborations, mergers and acquisitions, and joint ventures to strengthen their positions in the precision pest management market. For instance, in July 2019, PrecisionHawk partnered with Pix4D to unlock in-field drone data analytics with Pix4Dfields. PrecisionHawk expanded its agricultural services by partnering with Pix4D Agriculture to enhance the in-field data collection, verification, and analytics experience.

Competitive Strategy: Key players in the global precision pest management market analyzed and profiled in the study involve hardware and software solution providers. Moreover, a detailed competitive benchmarking of the players operating in the global precision pest management market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

Profiled companies have been selected based on inputs gathered from primary experts and analyses of the company’s domestic and international presence, product portfolio, and market penetration.

The top segment players leading the precision pest management market include original equipment manufacturers (OEMs) and software solution providers, which capture a significant chunk of the share in the market.

Some of the prominent names established in this market are:

• PrecisionHawk
• EOS Data Analytics
• Deere & Company
•  BASF SE
• AGRIVI
• Kubota Corporation
• TeeJet Technologies
• Yanmar Co. Ltd.
• Semios
• Suterra
• Topcon
• FlyPard Analytics GmbH (GeoPard Agriculture)
• Trimble Inc.
• FMC Corporation
• Climate LLC

Companies that are not a part of the aforementioned pool have been well represented across different sections of the report (wherever applicable).

The post Precision Pest Management Market – A Global and Regional Analysis: Focus on Application, Product, and Country-Wise Analysis – Analysis and Forecast, 2022-2027 first appeared on CRI Report.

Market Segmentation

• Product Type – Products (Kits and Assays, Instruments, and Software) and Services
• Sample– Tissue-Based, Blood-Based, Bone Marrow Aspirates, and Others
• Technology – Sequencing (NGS and Traditional Sequencing), Polymerase Chain Reaction (RT-PCR and dPCR), Microarray, and Other Technologies
• Application – Solid Tumors (Breast Cancer, Prostate Cancer, Colorectal Cancer, Lung Cancer, Liver Cancer, Ovarian Cancer, and Other Solid Tumors), and Hematological Malignancies (Leukemia, Lymphoma, and Myeloma)
• End User – Academic and Research Institutions, Hospitals and Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies, Contract Research Organizations, and Other End Users

Regional Segmentation

• North America – U.S., and Canada
• Europe – Germany, U.K., France, Italy, Spain, Netherlands, and Rest-of-Europe
• Asia-Pacific – China, Japan, India, Australia, South Korea, and Rest-of-Asia-Pacific
• Latin America – Brazil, Mexico, and Rest-of-Latin America
• Rest-of-the-World

Growth Drivers

• Global Increase in Cancer Prevalence
• Increasing Consumer Awareness for Tailored Cancer Therapy
• Decreasing Cost of Sequencing
• Increasing Adoption of Inorganic Growth Strategies in the Market

Market Challenges

• Uncertain Regulatory and Reimbursement Policies
• Lack of Trained Professionals in the Field of Oncology
• Lack of Established Treatment Protocols for High-Valued Cancer Tests in Emerging Economies

Market Opportunities

• Technological Advancements in the Field of Cancer Genomics
• Massive Scope for Adoption of NGS-based Somatic Genetic Testing in the Emerging Markets

Key Companies Profiled

Agilent Technologies, Inc., ARUP Laboratories, ASURAGEN INC., Beijing Genomics Institute (BGI) Genomics Co., Ltd, bioMérieux S.A., CENTOGENE N.V, CIRCULOGENE Theranostics, LLC, F. Hoffmann-La Roche Ltd., Guardant Health, Inc., Illumina, Inc., Invivoscribe, Inc., Laboratory Corporation of America Holdings, Mission Bio, NeoGenomics Laboratories, Inc., OmniSeq, Oxford Nanopore Technologies, Ltd., Pacific Biosciences of California, Inc., QIAGEN N.V., Quest Diagnostics Incorporated, and Thermo Fisher Scientific Inc.

Key Questions Answered in this Report:

• How is somatic genetic testing revolutionizing the field of cancer diagnostics?
• What are the major market drivers, challenges, and opportunities in the global somatic genetic testing market?
• What are the underlying structures resulting in the emerging trends within the global somatic genetic testing market?
• How did the COVID-19 pandemic impact the global somatic genetic testing landscape?
• What are the key development strategies that are being implemented by the major players in order to sustain in the competitive market?
• What are the key regulatory implications in developed and developing regions pertaining to somatic genetic testing?
• What are the potential entry barriers, which are expected to be faced by the companies willing to enter in a particular region?
• How is each segment of the market expected to grow during the forecast period from 2020 to 2030 and what is the anticipated revenue to be generated by each of the segments? Following are the segments:
o Product Type (Products and Services)
o Sample (Tissue-Based, Blood-Based, Bone Marrow Aspirates, and Others)
o Technology (Sequencing, PCR, Microarray, and Others)
o Application (Solid Tumors and Hematological Malignancies)
o End User (Academic and Research Institutions, Hospitals and Diagnostic Laboratories, Pharmaceutical and Biotechnology Companies, Contract Research Organizations, and Others)
o Region (North America, Europe, Asia-Pacific, Latin America, and Rest-of-the-World)
• What are the growth opportunities for the companies in the region of their operation?
• Who are the leading players with significant offerings in the global somatic genetic testing market?
• Which companies are anticipated to be highly disruptive in the future, and why?
• What are the current unmet needs that are being faced?

Market Overview

Our healthcare experts have found somatic genetic testing industry to be one of the most rapidly evolving and dynamic markets and the global market for somatic genetic testing is predicted to grow at a CAGR of 9.30% over the forecast period of 2020-2030. The market is driven by certain factors, which include, global increase in cancer prevalence, increasing consumer awareness for tailored cancer therapies, decreasing cost of sequencing, and increasing adoption of inorganic growth strategies in the market.

The market is favored by the developments in the field of cancer genomics and its attributes such as somatic mutation analysis. The global somatic genetic testing is witnessing significant growth due to the increase in cancer prevalence, increasing consumer awareness for tailored cancer therapy, decreasing cost of sequencing, and increasing adoption of inorganic growth strategies in the market. Additionally, rapid adoption of sequencing instruments by the researchers to conduct cancer genomic research and increasing emphasis on precision medicine are some of the critical factors, which are expected to bolster the market growth.

Furthermore, biotechnology companies are focusing on the development of robust somatic genetic testing solutions for a wide range of applications to support clinicians for conducting in-depth somatic mutation analysis.

Within the research report, the market is segmented on the basis of product type, sample, technology, application, end users, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.

Competitive Landscape

The exponential rise in the number of cases associated with cancer has created a buzz among the biotechnology companies, compelling them to further invest in the development of cancer diagnostic solutions for somatic mutation analysis, thereby aiding clinicians to offer precision therapeutics for cancer treatment. Due to the presence of a diverse product portfolio and intense market penetration, Thermo Fisher Scientific Inc. has been a pioneer in this field and has been a significant competitor in this market.

On the basis of region, North America holds the largest share of the somatic genetic testing market due to high infusion of funding from the government organizations for conducting cancer research, growing prevalence of cancer, rising awareness about precision medicine, and increasing awareness about early cancer detection, among others. Apart from this, Asia-Pacific region is anticipated to grow at the fastest CAGR during the forecast period, 2020-2030.

The post Global Somatic Genetic Testing Market: Focus on Product Type, Sample, Technology, Applications, End Users, Country Data (15 Countries), and Competitive Landscape – Analysis and Forecast, 2020-2030 first appeared on CRI Report.