PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555562
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555562
Transcriptomics Market size was valued at USD 6,248.5 Million in 2023, expanding at a CAGR of 7.50% from 2024 to 2032.
In transcriptomics, RNA transcripts are analyzed using next-generation sequencing technologies that require RNA transcription into complementary DNA in order to be sequenced. This process requires competence in these technologies. Numerous technologies are included, including q PCR and microarrays. In laboratory research, microarrays are the most often utilized technology. Transforming RNA into cDNA is a process known as reverse transcription, which uses the polymerase chain reaction. Quantitative PCR (q PCR) is used to determine the amount and presence of RNA. The surge in demand for personalized medicine, rising R&D spending in the pharmaceutical and biotechnology industries, government funding for omics, the rise in RNA sequencing applications, and the development of new transcriptomics products by numerous major players are the main factors driving the growth of the global transcriptomics market.
Transcriptomics Market- Market Dynamics
Growing Use of NGS and RNA-Sequencing Technology
Next-generation sequencing (NGS), sometimes referred to as high-throughput sequencing, is used for DNA and RNA analysis. Specifically, the identification of genetic disorders has been revolutionized by next-generation sequencing (NGS), which has enabled clinicians to provide even more comprehensive clinical insights. RNA sequencing allows for a more thorough examination and resolution of the transcriptome's dynamic character. Sample preparation, sequencing, and data analysis have all been profoundly altered by recent developments in RNA sequencing. This facilitates the analysis of transcriptome profiles and determines the potential explanatory power for specific physiological and pathological aspects.
Transcriptomics Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 7.50% over the forecast period (2024-2032)
Based on type segmentation, the consumables category was predicted to show maximum market share in the year 2023
Based on technology segmentation, the q PCR category was the leading segment in 2023
Based on application segmentation, the drug discovery category was the leading segment in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Transcriptomics Market is segmented on the basis of Type, Technology, Application, and Region.
The market is divided into the following categories based on type: Consumables, Instruments, Software, and Services. The consumables category dominates the market. Laboratory medicine, environmental biology, pharmacology, and molecular biology all use consumables like reagents and assays as research instruments to assess the existence, amount, or functional activity of a target entity (the analyte) qualitatively or quantitatively. Sequencing, target enrichment, and library preparation kits and panels make up the transcriptomics consumables industry. Compared to NGS sequencing kits, RNA analysis kits are more expensive because they are made specifically for the purpose. Laboratory medicine, environmental biology, pharmacology, and molecular biology all use consumables like reagents and assays as research instruments to assess the existence, amount, or functional activity of a target entity (the analyte) in a qualitative or quantitative manner.
The market is divided into the following categories based on application: Drug Discovery, Diagnostics and Disease Profiling, and Others. The drug discovery category dominates the market and is likely to maintain its dominance during the forecast period. Transcriptomics-which encompasses single-cell RNA-sequencing (scRNA-seq) and high-plex imaging-offers substantial technological advances for biomarker identification and drug discovery as compared to traditional RNA-sequencing techniques. The market can expand with the use of high throughput methodologies needed to discover therapeutic targets in order to enhance medication development. Furthermore, the market has grown as a result of the introduction of novel techniques into pharmaceutical and clinical research, including high-throughput RNA-sequencing and microarrays.
Transcriptomics Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
Over the course of the forecast period, North America is anticipated to hold the greatest share of the global market for transcriptomics. The North American transcriptomics market is driven by well-known pharmaceutical companies, the prevalence of cancer, infectious disorders, and chronic diseases, as well as a growing need for novel therapeutic alternatives in research, diagnostics, and synthetic biology. An increasing demand for RNA-based NGS drives the U.S. market for transcriptomics. Manufacturers use NGS technology to give a more complete picture of disorders at the gene and cell level. Research centers are also altering biomedical research by creating novel cell analysis procedures. As a result, the United States is anticipated to adopt next-generation sequencing for both therapeutic and diagnostic purposes.
In addition, the transcriptomics market is anticipated to expand at the fastest rate in the world during the projected period in Asia Pacific because of things like the implementation of supportive government initiatives, rising healthcare spending, the robust presence of industry players in the area, improved healthcare infrastructure, public and industry stakeholder awareness of available technologies, and the high concentration of market players in this region. Furthermore, the market growth is anticipated as a result of collaborations, acquisitions, product approvals, launches, and technical breakthroughs by major players in the industry.
In the global transcriptomics market, the leading companies are ThermoFisherScientific, Agilent Technologies Inc., Fluidigm Corporation, F-Hoffmann La-Roche, Bio-Rad Laboratories, and General Electric Company. Many enterprises operating both globally and regionally have resulted in a small fragmentation of the market. A few well-known, well-held, and multinational enterprises are analyzed as part of the competitive landscape.
May 2022: In order to develop automated workflows, PacBio worked with the Robotic Biology Institute and iLAC. Developing fully automated end-to-end workflows for PacBio's Sequel II and Sequel IIe HiFi long-read sequencing systems is the goal of a partnership between Robotic Biology Institute, Inc. (RBI) and genome analysis company iLAC, Inc. (iLAC), according to PacBio (NASDAQ: PACB), a leading supplier of high-quality, highly accurate sequencing solutions.
February 2022: An extended strategic partnership was announced by Moderna and Thermo Fisher Scientific. To facilitate dedicated large-scale manufacturing in the U.S., Moderna, Inc., a biotechnology firm that leads the way in messenger RNA (mRNA) treatments and vaccines, and Thermo Fisher Scientific Inc., the global leader in servicing science, have announced a 15-year strategic collaboration agreement.