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The NGS-based RNA-seq market is estimated to grow by USD 3.75 billion at a CAGR of 15.34% between 2022 and 2027. The market is poised for significant growth, driven by key factors reshaping the landscape of genetic analysis. With the surge in adoption of next-generation sequencing (NGS) techniques, propelled by their unparalleled precision and throughput, the market is witnessing a transformative shift. Technological advancements in sequencing platforms are enabling researchers to explore RNA dynamics with unprecedented depth and accuracy. Moreover, the market is thriving due to the diverse range of NGS-based RNA-seq products, catering to varied research needs across multiple domains.
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The market is expanding rapidly with advances in genomics and the growing adoption of RNA sequencing projects across research applications and clinical diagnostics. Technologies like Illumina's platforms offer significant advantages in genomic projects, enabling precise pricing analysis and patent analysis to optimize buying behaviour. RNA-seq provides deeper insights into cancer cases through NGS in cancer research, offering 10X coverage for comprehensive human genome sequencing and targeted studies on specific organisms. The cost of genomic sequencing continues to decrease, enhancing affordability and accessibility for standardizing tests and improving data quality in genomic studies. Conference and webinars disseminate webinar materials on conventional technologies versus NGS, highlighting the advantages of RNA and driving continuous innovation in genomic research methodologies.
The increased adoption of next-generation sequencing methods is the key factor driving the global market. Rapid developments in next-generation sequencing techniques and the creation of a human genome database have allowed Companies to offer rapid diagnostic services and the capability to diagnose mutations and disorders in human gene sequences by using the complete human genome to study its structure, function, and organization.
Moreover, it offers a significant reduction of cost in the performance of sequential studies and bears higher variant detection power and sensitivity by enabling the sequencing of millions of DNA fragments per run simultaneously, compared with conventional Sanger sequencing technology. The techniques provide high processing speed and throughput that can generate a vast number of sequences with many applications in research, as well as in the diagnostic field. Researchers are thoroughly studying and developing further prospectus, which is expected to improve the performance of these techniques as a reliable solution and augment the growth of the global market during the forecast period.
The advances in next-generation sequencing techniques are major market trends. The advent of these techniques and the significant contribution of HGP have provided companies and researchers with a critical resource on the function, structure, and organization of a complete set of human genomes. Technological innovation in the field of genomics has significantly reduced the cost of sequencing, making next-generation sequencing available to many smaller laboratories. This has further boosted the growth of genomic research.
The rising number of research activities and discoveries in genetic testing for determining genetic variants has enabled companies, such as Bio-Rad Laboratories and Eurofins, to offer a wide variety of prediction tests for blood sugar regulation, cancer, vision loss, and autoimmune disorders. The development of advanced technologies has helped to reduce the cost of testing as well as the turnaround time. Furthermore, the development of portable technologies by companies such as Oxford Nanopore Technologies, hybridization of available technologies such as SMRT sequencing and reversible semiconductor sequencing, and technological advances in bioinformatics software are expected to augment the growth of the global market during the forecast period.
The lack of clinical validation on direct-to-consumer genetic tests is a major challenge to the global market. The clinical validity of direct-to-consumer genetic tests has been consistently questioned due to the presence of limited scientific evidence. This negatively impacts the commercialization of pre-disposition tests. Moreover, disease risk prediction provided by these tests does not include the overall context for risk assessment as it excludes the environmental and lifestyle factors, which play a critical role in increasing the risk of getting a disease.
Direct-to-consumer genetic tests have limited accuracy and can often generate false-positive or false-negative results, which can hurt the health of consumers and lead to emotional and mental distress. This has compelled regulatory authorities to bring Companies under scrutiny and disclose risk information (including the authorized tests) and instructions mandatory. Thus, the lack of clinical validation will create a challenge for the global market during the forecast period.
The market research and growth report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
Based on end-user, the market is segmented into academic and research centers, clinical research, pharma companies, and hospitals. The market share by the academic and research centers segment will be significant during the forecast period. Academic and research institutions are the primary revenue generators in the global NGS-based RNAseq market. Research laboratories from research institutes, universities, government institutions, biotechnology organizations, and pharmaceutical companies are included in the cluster. Next-generation sequencing products are being used in translational research across a wide range of scientific applications, from whole-genome sequencing to epigenetics. Such factors will drive the growth of the market during the forecast period.
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The driving factors for the promotion of the market for next-generation sequencing-based RNA sequencing associated with research institutes are significant investments made by both private and public organizations. Ngs-based RNA sequencing technologies are being used in emerging fields such as agrigenomics and animal research to conduct genetic research to improve crop yield and nutritional composition. Ngs-based RNA sequencing technologies will play an important role in pharmacogenomics and infectious disease identification due to their contribution to drug discovery through target identification and compound optimization during the forecast period.
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APAC is expected to account for 43% of global market share by 2023. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market, specifically for RNA-seq applications, experienced significant growth in North America in 2022. The US, in particular, led the way due to increased focus on gene therapy, personalized medicine, and cancer diagnostics. Key stakeholders, including Illumina, Thermo Fisher Scientific, and PerkinElmer, contribute to this growth through their advanced technologies and genome mapping programs. NGS technology, such as high-throughput sequencers, Ion Semiconductor Sequencing, and nanopore sequencing, enables genetic studies, including genome sequencing and analysis of messenger RNAs and long noncoding RNAs.
Further, industry trends include regulatory frameworks, product approvals, and the integration of microarray technology and paired-end sequencing. Portable units and nanopore sequencing technology offer convenience and accessibility. However, the high genome size and indels present challenges for accurate sequencing and analysis. Forecasts indicate exponential growth in the US market due to its focus on personalized medicine and national initiatives. Key players, such as Nebula Genomics, continue to innovate and address the challenges, shaping the future of genomics.
The market growth analysis report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments.
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The market is at the forefront of genomic research, propelled by Illumina's technology and advancements in NGS platforms. This technology enables precise targeted sequencing and lowers the cost per raw megabase, making it indispensable in genomics projects and clinical diagnostic applications. However, challenges such as discrepancies in clinical laboratory practices and varying regulations necessitate stringent quality measures and compliance with professional standards. Ensuring accuracy and reliability in genomic data is crucial, driving innovations in quality assurance, test validation, and quality control through blockchain technology and cloud-based data management facilities.
Further, the market seeks to address unmet gaps in genetic information storage and customer data transparency, fostering trust in public and private service delivery models supported by BaaS and venture capitalists investing in ICOs. NGS also plays a pivotal role in researching target diseases like inherited rare diseases, leveraging informatics challenges and automated methodologies to streamline standardized procedures. With government support and a growing pool of skilled professionals, the NGS-based RNA-seq market continues to drive advancements in life sciences through qualitative investigations into microRNAs and small interfering RNAs.
Market Scope |
|
Market Report Coverage |
Details |
Page number |
158 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 15.34% |
Market growth 2023-2027 |
USD 3.75 billion |
Market structure |
Fragmented |
YoY growth (%) |
15.1 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
APAC at 43% |
Key countries |
US, Singapore, UK, Germany, and China |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Agilent Technologies Inc., BGI Genomics Co. Ltd., Brooks Automation Inc., DNASTAR Inc., Eurofins Scientific SE, F. Hoffmann La Roche Ltd., Hamilton Bonaduz AG, Illumina Inc., Precigen Inc., Pacific Biosciences of California Inc., PerkinElmer Inc., PierianDx Inc., Psomagen Inc., QIAGEN NV, Takara Bio Inc., Tecan Trading AG, Thermo Fisher Scientific Inc., and Zymo Research Corp. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the market forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Technology
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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