PUBLISHER: The Business Research Company | PRODUCT CODE: 1484860
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484860
RNA sequencing is a sophisticated technique used for high-throughput analysis of RNA molecules in a given sample. This method offers valuable insights into gene expression levels and transcriptomic dynamics, aiding in the understanding of biological processes such as development, illness, and responses to stimuli.
Key RNA sequencing services include ribosomal RNA (rRNA), transfer RNA (tRNA), and long non-coding RNA (lncRNA) analysis. Ribosomal RNA (rRNA) sequencing focuses on RNA molecules essential for protein synthesis within cells. These services employ various sequencing methods, including next-generation sequencing technologies, and find applications across diverse sectors such as research and diagnostics. End-users of RNA sequencing services include academic and government institutes, research centers, hospitals and clinics, pharmaceutical and biotechnology companies, and other entities involved in biological research and development endeavors.
The RNA sequencing services market research report is one of a series of new reports from The Business Research Company that provides RNA sequencing services market statistics, including RNA sequencing services industry global market size, regional shares, competitors with an RNA sequencing services market share, detailed RNA sequencing services market segments, market trends and opportunities, and any further data you may need to thrive in the RNA sequencing services industry. This RNA sequencing services market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The RNA sequencing services market size has grown rapidly in recent years. It will grow from $3.22 billion in 2023 to $3.58 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth experienced in the historical period can be credited to several key factors, including heightened demand for personalized medicine, advancements in bioinformatics tools, a growing emphasis on drug discovery and development, increased utilization of RNA sequencing in agricultural research, and broader applications in clinical diagnostics.
The RNA sequencing services market size is expected to see rapid growth in the next few years. It will grow to $5.51 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The anticipated growth in the forecast period is expected to stem from the emergence of single-cell RNA sequencing technologies, the incorporation of artificial intelligence and machine learning in data analysis processes, increasing exploration of non-coding RNA biomarkers, heightened demand for transcriptomic analysis in immunotherapy research, and the expansion of collaborations between academia and industry in genomic studies. Major trends predicted for the forecast period include the adoption of long-read sequencing, the prevalence of cloud-based analysis platforms, a surge in demand for RNA splicing analysis, and the integration of multi-omics data.
The RNA sequencing services market is experiencing significant growth, largely fueled by the rising demand for personalized medicine. Personalized medicine involves tailoring medical treatments to individual characteristics, such as genetics or lifestyle, to optimize effectiveness and minimize adverse effects. This demand surge stems from personalized medicine's potential to offer more effective treatments, advancements in genomics, increasing disease complexity, and supportive regulatory frameworks. RNA sequencing services play a crucial role in this landscape by aiding in the identification of disease subtypes, discovery of biomarkers, identification of therapeutic targets, prediction of therapy responses, and monitoring disease progression and treatment outcomes. These techniques utilize RNA sequencing technologies to develop individualized and effective medicines targeting the unique molecular characteristics of each patient. For example, in February 2024, the FDA approved 16 novel personalized therapies for patients with rare diseases, marking a significant increase from previous years. These therapies included treatments for various conditions, including cancer, underscoring the growing importance of personalized medicine and its impact on the RNA sequencing services market.
Key players in the RNA sequencing services market are prioritizing automation to mitigate potential human errors and enhance efficiency and accuracy in data generation and analysis. Next-generation sequencing (NGS) assays, such as RNA next-generation sequencing (RNA-seq), are pivotal in molecular biology and genomics for analyzing the transcriptome of biological samples. For instance, in June 2023, Tempus introduced Tempus xR, a standalone RNA next-generation sequencing assay designed for solid tumors. This innovative assay provides a comprehensive analysis of the entire transcriptome, identifying clinically significant fusions in over 100 targeted genes and detecting altered splicing for specific genetic variations. Recognizing the significance of RNA sequencing data, Tempus offers the flexibility for clients to order RNA and DNA sequencing tests separately or simultaneously, catering to various research and clinical needs.
In January 2024, Parse Biosciences bolstered its single-cell RNA sequencing data analysis capabilities through the acquisition of Biomage Ltd. This strategic move aims to provide customers with improved tools for deeper insights and reduced analysis time in genomic research and precision medicine applications. Biomage Ltd., a UK-based company specializing in RNA sequencing data analysis, enhances Parse Biosciences' offerings, aligning with the company's commitment to advancing genomic research and precision medicine.
Major companies operating in the RNA sequencing services market are Thermo Fisher Scientific Inc., Feng Chi Biotech Corp., Illumina Inc., Qiagen NV, BGI Genomics Co. Ltd., Azenta Inc., Abcam Limited, Novogene Co. Ltd., Genewiz Inc., Diagenode LLC, CD Genomics, CeGaT GmbH, Lexogen GmbH, BaseClear BV, Active Motif Inc., Microsynth AG, RayBiotech Inc., Genomax Technologies Pte. Ltd, Phalanx Biotech Group Inc., Creative Biogene, SeqMatic LLC, Genohub Inc., Otogenetics, LC Sciences, Admera Health, Arraystar Inc., IGA Technology, Yaazh Xenomics
North America was the largest region in the RNA sequencing services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the rna sequencing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the RNA sequencing services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The RNA sequencing services market includes revenues earned by offering sequencing services for RNA analysis, encompassing sample preparation, sequencing, data analysis, and interpretation. 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.
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.
RNA Sequencing Services Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on RNA sequencing services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for RNA sequencing services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The RNA sequencing services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.