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Global Transcriptomics Market: PCR Technology Accounts for the Major Share, Whereas, Sequencing Technology To Grow At A Highest Rate.
The global transcriptomics market is poised to grow at a CAGR of 13.7% from 2014 to 2019. Technological advancements, increasing investments in research and development, Increasing government and private funding, and growing preference for personalized medicines are some of the major factors driving the growth of this market. However, the market also faces certain challenges in terms of high capital investment costs that limit the adoption of transcriptomics products, lack of skilled professionals and effective bioinformatics tools for data analysis. These challenges may hamper the growth of the transcriptomics market in the coming years.
Based on utilization of advanced technology, PCR accounted for more than45.3% of the global transcriptomics market in 2013. However, sequencing technologies market is expected to grow at the highest CAGR of 14.3% during the forecast period of 2014 to 2019. A majority of the growth in this segment is attributed to rising demand for these technologies from academic research and government institutes. Increasing application of transcriptomics in drug discovery is driving the demand for transcriptomic technologies in the pharmaceutical and biotechnology industry. Based on the type of product, the reagents account for the largest share of approximately 53.6% of the global transcriptomics market in 2013. Transcriptomic instruments are priced higher than the reagents. However, frequent purchase of consumables including reagents has led to its greater market share and robust growth rate during the forecast period.
There is an extensive use of transcriptomics in the academic research and government institutes which account for highest share of 49.2% of the transcriptomics market for various research applications followed by pharmaceutical and biotechnology companies. Similarly, the drug discovery and research contributes major share of x64.1% to the total market followed by clinical diagnostics with 28.6% share of the global market. However, the pharmaceutical and biotechnology companies, and clinical diagnostics segment are expected to grow at a higher CAGR during the forecast period.
RNA Analysis/Transcriptomics Market by Technology (Microarray, PCR, NGS, RNAi), by Application (Clinical Diagnostics, Drug Discovery, Toxicogenomics), by End-User (Academic Research, Pharmaceutical and Biotech Companies) - Global Forecast to 2019
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