NGS-based RNA-sequencing Market Analysis By Application (Gene expression analysis, Differential gene expression, Alternative splicing analysis, SNP detection, Fusion gene detection, Others), By Technology (Targeted Sequencing, Whole Transcriptome Sequencing), By End-User (Academic and research institutes, Biotech and pharma companies, Contract Research Organizations (CROs), Others (government bodies, non-profit organizations, etc.)) & Forecast By 2033
- PUBLISHED ON
- 2023-05-04
- NO OF PAGES
- 264
- CATEGORY
- Healthcare & Life Sciences
NGS-based RNA-sequencing Market is valued at USD 1,080 million in 2022, and it is projected to reach USD 6,800 million by 2033, growing at a compound annual growth rate (CAGR) of around 12.2% over the forecast period of 2023-2033.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 1,080 Million |
Market Forecast in 2033 | USD 6,800 Million |
CAGR % 2023-2033 | 12.2% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Application, Technology, End User |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | Illumina; Thermo Fisher Scientific; Pacific Biosciences; Oxford Nanopore Technologies; BGI Group; Qiagen; F. Hoffmann-La Roche AG; Agilent Technologies; Eurofins Scientific; Takara Bio Inc. |
The market growth is driven by several factors, including the increasing demand for personalized medicine and targeted therapeutics, the rising prevalence of chronic diseases such as cancer and genetic disorders, and the growing application of RNA-sequencing in drug discovery and development.
North America is currently the largest market for NGS-based RNA-sequencing, owing to the presence of major players, high adoption rates of advanced technologies, and favorable government initiatives and funding.
RNA-seq is becoming increasingly popular due to its ability to provide high-resolution information about gene expression and transcript isoform diversity. This is driving demand for RNA-seq services and products in research and clinical settings. The RNA-seq market is seeing continual advancements in sequencing technologies, sample preparation methods, and data analysis software.
RNA-seq technology is being used in diverse fields, including agriculture, microbiology, cancer research, and infectious disease research. The ability to study gene expression and identify differentially expressed genes across different biological samples has led to widespread adoption of RNA-seq technology in many research areas.
Impact of COVID-19 on Market:
The NGS-based RNA-sequencing market, like many other markets, has been impacted by the COVID-19 pandemic. The pandemic has resulted in disruptions to the global economy, changes in healthcare priorities, and the adoption of social distancing measures that have affected the demand and supply dynamics of the market.
• Delay in research and clinical trials: Many research studies and clinical trials involving NGS-based RNA-sequencing have been delayed or interrupted due to restrictions on travel, laboratory closures, and disruptions to the supply chain.
• Shift in focus towards COVID-19 research: The pandemic has led to a shift in research priorities towards COVID-19, which has affected funding and resources available for other research areas, including NGS-based RNA-sequencing.
• Increased demand for NGS-based RNA-sequencing in COVID-19 research: NGS-based RNA-sequencing has been used extensively in COVID-19 research to study the virus, understand its pathogenesis, and develop vaccines and treatments. This has led to increased demand for NGS-based RNA-sequencing services and products.
• Supply chain disruptions: The pandemic has disrupted the global supply chain for NGS-based RNA-sequencing products, including reagents, instruments, and consumables. This has led to shortages and price increases, affecting the accessibility and affordability of these products.
• Adoption of remote working and virtual collaboration: The pandemic has accelerated the adoption of remote working and virtual collaboration in the NGS-based RNA-sequencing market, enabling researchers and clinicians to continue their work despite the disruptions caused by the pandemic.
Application Insights
The Gene expression analysis segment is anticipated to grow at a significant CAGR. In the case of gene expression analysis, the market is primarily driven by the increasing demand for accurate and efficient methods of measuring gene expression levels across different samples and conditions. NGS-based RNA-sequencing offers several advantages over traditional gene expression analysis methods, including greater sensitivity, specificity, and dynamic range.
Technology Insights
Targeted sequencing and whole transcriptome sequencing are the two main technologies used for NGS-based RNA-sequencing for gene expression analysis. Whole transcriptome sequencing is gaining popularity due to its ability to measure expression levels of all genes in a sample, providing more comprehensive information on gene regulation and function.
End User Insights
Academic and research institutes are the largest end-users of NGS-based RNA-sequencing technology for gene expression analysis. Biotech and pharma companies are also significant customers as they use this technology to identify drug targets and develop new therapies.
Regional Insights
North America is expected to dominate the NGS-based RNA-sequencing market due to the presence of several key market players, increasing funding for genomics research, and rising adoption of precision medicine. The United States holds the largest share of the market in this region.
Europe is expected to be the second-largest market for NGS-based RNA-sequencing due to the increasing prevalence of chronic diseases, the presence of leading research institutes, and rising adoption of personalized medicine. The United Kingdom, Germany, and France are expected to be the major contributors to the market in this region.
Asia Pacific is expected to witness the fastest growth in the NGS-based RNA-sequencing market due to the increasing demand for genomics research, rising healthcare expenditure, and growing awareness about precision medicine. China, Japan, and India are expected to be the major contributors to the market in this region.
The Middle East & Africa region is expected to witness steady growth in the NGS-based RNA-sequencing market due to the increasing focus on precision medicine, rising investments in genomics research, and growing collaborations among key market players.
Competitive Analysis
Some of the prominent companies operating in the market are Illumina; Thermo Fisher Scientific; Pacific Biosciences; Oxford Nanopore Technologies; BGI Group; Qiagen; F. Hoffmann-La Roche AG; Agilent Technologies; Eurofins Scientific; Takara Bio Inc.
• In 2020, Eurofins Scientific announced the launch of its Next Generation Sequencing (NGS) services for RNA sequencing. The service offers a complete solution for RNA-seq analysis, from sample preparation to data analysis, and includes a range of options for library preparation, sequencing, and bioinformatics analysis.
NGS-based RNA-sequencing Market- Segmental Analysis
By Application:
• Gene expression analysis
• Differential gene expression
• Alternative splicing analysis
• SNP detection
• Fusion gene detection
• Others
By Technology:
• Targeted Sequencing
• Whole Transcriptome Sequencing
By End-User:
• Academic and research institutes
• Biotech and pharma companies
• Contract Research Organizations (CROs)
• Others (government bodies, non-profit organizations, etc.)
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The Global NGS-based RNA-sequencing Market is valued at USD 1,080 million in 2022, and it is projected to reach USD 6,800 million by 2033, growing at a compound annual growth rate (CAGR) of around 12.2% over the forecast period of 2023-2033.
What are the drivers shaping various markets?
The market growth is driven by several factors, including the increasing demand for personalized medicine and targeted therapeutics, the rising prevalence of chronic diseases such as cancer and genetic disorders, and the growing application of RNA-sequencing in drug discovery and development.
Who are the key competitors of market Players?
Some of the major players operating within the market are Illumina; Thermo Fisher Scientific; Pacific Biosciences; Oxford Nanopore Technologies; BGI Group; Qiagen; F. Hoffmann-La Roche AG; Agilent Technologies; Eurofins Scientific; Takara Bio Inc.
What are the top performing segments, and countries / regions of each of the markets?
"North America is expected to dominate the NGS-based RNA-sequencing market due to the presence of several key market players, increasing funding for genomics research, and rising adoption of precision medicine. The United States holds the largest share of the market in this region. Europe is expected to be the second-largest market for NGS-based RNA-sequencing due to the increasing prevalence of chronic diseases, the presence of leading research institutes, and rising adoption of personalized medicine. The United Kingdom, Germany, and France are expected to be the major contributors to the market in this region."
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