NGS-based RNA-seq Market by End-user, Technology, and Geography - Forecast and Analysis 2023-2027

NGS-based RNA-seq Market Forecast 2023-2027

The NGS-based RNA-seq market is estimated to grow by USD 3.75 billion at a CAGR (Compound Annual Growth Rate) 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.

 What will the Size of the Market be During the Forecast Period?

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In the realm of modern molecular biology, Next-Generation Sequencing (NGS) technology has revolutionized the field of RNA sequencing (RNA-seq). Genomic and transcribing processes are intricately linked, and understanding the dynamic nature of gene expression is crucial for various applications, including disease diagnosis, drug discovery, and fundamental research. NGS-based RNA-seq offers unprecedented accuracy and depth, enabling researchers to identify and quantify RNA transcripts with high sensitivity. This technology is particularly valuable in the context of Cancer research, where understanding the complex interplay of gene expression and mutations is essential. Moreover, RNA-seq data analysis is facilitated by powerful bioinformatics tools, allowing for the identification of differentially expressed genes and the analysis of gene regulatory networks. Personalized medicine and diagnostics are also benefiting from RNA-seq, as it provides valuable insights into individual gene expression profiles. In summary, NGS-based RNA-seq is a transformative technology in the field of molecular biology, offering unparalleled insights into gene expression and its role in various biological processes. Its applications span from fundamental research to clinical diagnostics and therapeutics. 

Market Dynamics and Customer Landscape

In the ever-evolving landscape of molecular biology, Next-Generation Sequencing (NGS) technology has revolutionized the field of RNA sequencing (RNA-seq). Platforms, such as Consumables and Services, play a pivotal role in the NGS-based RNA-seq market. These platforms offer nanopore technology, synthesis and detection, and sequencing services. Technology plays a crucial role in the NGS-based RNA-seq market. Synthesis and detection technology, like Synthase and Detection, enable accurate and efficient conversion of RNA to cDNA and subsequent labeling for sequencing. Nanopore technology, such as Buying and behaving, offers real-time, long-read sequencing, providing comprehensive transcriptome analysis. Consumables, like nanopore flow cells and sequencing kits, are essential components of NGS-based RNA-seq platforms. They ensure consistent and reliable sequencing results. Services, including library preparation, sequencing, and data analysis, provide researchers with the expertise and resources necessary to generate high-quality RNA-seq data. The NGS-based RNA-seq market is driven by the need for accurate and comprehensive transcriptome analysis. This information is crucial for understanding gene expression, identifying alternative splicing events, and discovering novel transcripts. With the continued advancements in NGS technology and the increasing availability of RNA-seq services, this market is poised for significant growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver 

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.

Significant Market Trends

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.

Major Market Challenge

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.

Customer Landscape

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

Who are the Major Market Companies?

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.

Agilent - The company offers NGS-based RNA-seq such as SureSelect Strand-Specific RNA Library Preparation for Whole-Transcriptome Sequencing.

The market growth and forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• 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

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.

Market Segmentation

The RNA sequencing market is primarily driven by academic and research institutions, including RNA sequencing companies and service providers from research institutes, universities, government institutions, biotechnology organizations, and pharmaceutical companies. Sequencing by synthesis and Single Molecule RealTime sequencing are the dominant sequencing technologies used in RNA sequencing workflows. Sample preparation products are essential for the sequencing process. Technological innovations, such as standardized tests for variant calling and small RNA sequencing, continue to advance the field. Transcriptome epigenetics and agrigenomics are emerging applications for RNA sequencing in areas like animal research and improving crop yield. Sequencing service providers offer various sequencing platforms and services, including storage and management solutions. Trade regulations and investments from venture capitalists also impact the market's growth. Key players in the market include RNA sequencing companies, sequencing service providers, and technology developers offering sample preparation products, sequencing platforms, and sequencing services. Technological innovations, such as Single Molecule RealTime Sequencing and small interfering RNAs, are driving the market forward. The RNA sequencing workflow includes standardized tests for variant calling and small RNA sequencing, as well as storage and management solutions. Trade regulations and investments from venture capitalists influence the market's growth.

By End-user

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.

Regional Analysis

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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. These insights are crucial for drug discovery, diagnostics, and precision medicine. Buying behavior is influenced by the need for data interpretation, library preparation, and consumables. Artificial intelligence and cloud technology facilitate data handling, addressing the informatics challenge. Emerging revenue pockets include cancer cases, clinical diagnostic applications, and genome mapping programs. 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.

Market Analyst Overview

The market is experiencing significant growth due to its ability to provide valuable insights into gene expression and regulation. With advances in Next-Generation Sequencing (NGS) technology, RNA-seq has become a preferred method for transcriptome analysis in various fields, including healthcare, agriculture, and research. Artificially intelligent and machine learning algorithms are used to analyze the vast amounts of data generated by RNA-seq, enabling the identification of differentially expressed genes and pathways. The clinical diagnostics market segment is expected to dominate the market, as it offers personalized medicine solutions and improved disease understanding. The increasing use of RNA-seq in gene therapy and the gene editing application is also driving market growth. The market is further expected to be driven by the rising demand for precision medicine and the growing number of collaborations between academia and industry. The use of RNA-seq in the study of SARS-CoV-2 and other infectious diseases has also highlighted its importance in the current healthcare landscape. 

The market is experiencing substantial growth, driven by advancements in a sequencing platform such as Single Molecule Real Time Sequencing (SMRT). These platforms offer numerous advantages over conventional technologies for genomic sequencing, leading to increased adoption in various applications. Researchers and organizations are leveraging the Advantages of RNA sequencing Services to analyze gene expression, identify biomarkers, and study RNA biology. Moreover, the availability of conference and webinar materials facilitates knowledge sharing and collaboration within the scientific community. Understanding Buying behaviour is crucial for market players to tailor their offerings effectively. With its ability to provide comprehensive insights into gene expression, the market continues to expand rapidly, offering promising opportunities for research and innovation.

Segment Overview

The market growth analysis report covers market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• End-user Outlook 
  • Academic and research centers
  • Clinical research
  • Pharma companies
  • Hospitals

• Technology Outlook 
  • Sequencing-by synthesis
  • Ion semiconductor-sequencing
  • Single-molecule real-time-sequencing
  • Others

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • ROW
    • Argentina
    • Australia
    • Rest of the World

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 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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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market industry across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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