PUBLISHER: The Business Research Company | PRODUCT CODE: 1513244
PUBLISHER: The Business Research Company | PRODUCT CODE: 1513244
RNA sequencing, employing next-generation sequencing techniques, unveils the presence and abundance of RNA molecules within a biological specimen, offering a glimpse into gene expression dynamics. This methodology empowers scientists to delve into gene expression patterns, unearth novel transcripts, and decipher RNA processing mechanisms.
Within the realm of ribonucleic acid (RNA) sequencing, the primary product categories comprise instruments, reagents and kits, and software. Instruments encompass the tangible apparatuses utilized for RNA molecule analysis, encompassing sequencers and polymerase chain reaction devices, pivotal for accurate RNA sample processing and examination. Diverse technologies, including single molecule-based sequencing, sequence by synthesis, nanopore sequencing, and ion torrent semiconductor sequencing, find application across various sectors such as diagnostics, drug discovery, and translational medicine. End-users span research and academia, hospitals and clinics, pharmaceutical and biotechnology firms, among others.
The ribonucleic acid (RNA) sequencing market research report is one of a series of new reports from The Business Research Company that provides ribonucleic acid (RNA) sequencing market statistics, including ribonucleic acid (RNA) sequencing industry global market size, regional shares, competitors with a ribonucleic acid (RNA) sequencing market share, detailed ribonucleic acid (RNA) sequencing market segments, market trends and opportunities, and any further data you may need to thrive in the ribonucleic acid (RNA) sequencing industry. This ribonucleic acid (RNA) sequencing 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.
The ribonucleic acid (RNA) sequencing market size has grown exponentially in recent years. It will grow from $2.66 billion in 2023 to $7.29 billion in 2024 at a compound annual growth rate (CAGR) of 22.2%. In the historical period, growth stemmed from several factors, including an upsurge in drug development endeavors, an expanding prevalence of genetic disorders and target diseases, a surge in the utilization of compact portable instruments, an increasing focus on biomarker profiling, a mounting demand for personalized medicine, and a rising population of cancer patients.
The ribonucleic acid (RNA) sequencing market size is expected to see exponential growth in the next few years. It will grow to $7.29 billion in 2028 at a compound annual growth rate (CAGR) of 22.4%. Looking ahead to the forecast period, growth is anticipated due to heightened demand for swift and precise disease diagnosis, widespread adoption of real-time polymerase chain reaction techniques, increasing need for rapid and on-site diagnostic tests, escalation in infectious disease outbreaks, and the demand for companion diagnostics. Significant trends expected during this period encompass advancements in disease detection and monitoring, drug discovery processes, target validation techniques, biomarker identification methods, DNA sequencing technologies, enhancements in diagnostic testing methodologies, the emergence of next-generation sequencing (NGS), the integration of microfluidics, lab-on-a-chip platforms, and the development of advanced molecular diagnostic solutions.
The growth trajectory of the ribonucleic acid (RNA) sequencing market is expected to be propelled by an increasing emphasis on precision medicine. Precision medicine, also known as personalized medicine, represents an innovative approach to medical treatment and prevention, taking into account individual variability in genes, environment, and lifestyle. This approach holds promise for offering more effective treatments, spurred by advancements in genomics, the rising complexity of diseases, and supportive regulatory measures. RNA sequencing technologies play a crucial role in this landscape, enabling the determination of RNA molecule sequences and quantification of their expression levels within samples. Such technologies facilitate comprehensive analysis of transcriptomes, offering insights into gene expression patterns, alternative splicing events, and RNA modifications. Notably, in February 2024, the FDA approved 16 novel personalized therapies for patients with rare diseases, compared to six approvals in 2022, as reported by the Personalized Medicine Coalition. Consequently, the growing focus on precision medicine serves as a driving force behind the ribonucleic acid (RNA) sequencing market's expansion.
In the ribonucleic acid (RNA) sequencing market, key players prioritize RNA next-generation sequencing assays to enhance patient care through data-driven insights and precision medicine. RNA next-generation sequencing assays leverage advanced genomic sequencing technologies to analyze a patient's entire exome, representing a next-generation exome sequencing platform. For example, in June 2023, Tempus, a US-based precision medicine technology company, introduced its new standalone RNA next-generation sequencing assay, Tempus xR. This innovative assay, tailored for solid tumors, provides a comprehensive analysis of the entire transcriptome, identifying clinically significant fusions in over 100 targeted genes and altered splicing for MET Exon 14 and EGFRvIII. This offering caters to physicians with specific interests in RNA fusions or altered splicing, as well as to providers, researchers, and biopharma companies seeking detailed RNA sequencing analysis for their existing samples.
In January 2024, Parse Biosciences, a US-based biotechnology company focusing on developing innovative solutions for biological research and diagnostics, completed the acquisition of Biomage for an undisclosed sum. This acquisition enables Parse Biosciences to integrate Biomage's robust data analysis tools, including its Cellenics cloud-based platform, into Parse's Evercode combinatorial barcoding technology. Biomage Ltd., based in the UK, specializes in RNA sequencing and analysis software and services.
Major companies operating in the ribonucleic acid (RNA) sequencing market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Danaher Corporation, Merck KGaA, Becton, Dickinson and Company, GE HealthCare Technologies Inc, Eurofins Scientific SE, Agilent Technologies Inc, Illumina Inc, PerkinElmer Inc, bioMerieux SA, Beckman Coulter Inc, Sysmex Corporation, Bio-Rad Laboratories Inc, QIAGEN N.V., Tecan Genomics Inc, Natera Inc, Myriad Genetics Inc., BGI Genomics Co Ltd, Takara Bio Inc, Cepheid, NeoGenomics Laboratories Inc, Abcam Limited, Oxford Nanopore Technologies plc, Pacific Biosciences of California Inc, Macrogen Inc, Standard BioTools Inc, Ambry Genetics Corporation, Biocartis SA, CD Genomics.
North America was the largest region in the ribonucleic acid (RNA) sequencing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ribonucleic acid (RNA) sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the ribonucleic acid (RNA) sequencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The ribonucleic acid (RNA) sequencing market consists of revenues earned by entities by providing services such as library preparation, RNA extraction, fragmentation, reverse transcription, adapter ligation, sequencing, data analysis, bioinformatics support, consultation and experimental design, quality control, sample preparation services, gene cloning, genotyping and mutation detection, and pathogen detection. The market value includes the value of related goods sold by the service provider or included within the service offering. The ribonucleic acid (RNA) sequencing market also includes sales of library preparation kits, RNA extraction kits, quantification kits, polymerase chain reaction (PCR) instruments, pipette tips, tubes, and plates. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
Ribonucleic Acid (RNA) Sequencing 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 ribonucleic acid (RNA) sequencing 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 ribonucleic acid (RNA) sequencing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The ribonucleic acid (RNA) sequencing 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.
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