RNA Analysis Market by Product (Reagents, Instruments, Software, Services), Technology (PCR, Sequencing, Microarrays, RNA Interference), Application (Drug Discovery, Clinical Diagnostics), End User (Pharma, Biotech, CROs), Region - Global Forecast to 2028
Market Growth Outlook Summary
The global RNA analysis market growth forecasted to transform from $5.3 billion in 2023 to $9.9 billion by 2028, driven by a CAGR of 13.4%. Various elements such as increasing R&D activities, increasing government funding for drug discovery research, and growing pharmaceutical & biological industries are the major growth factors for this market. Many peptide-based research projects are also being fostered by increasing collaborative partnerships among various companies that are driving market growth.
Attractive Opportunities in the RNA analysis Market
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RNA Analysis Market Dynamics
DRIVER: Growing demand for personalized medicine
With the growing prominence of personalized medicine, there is an increased demand for rapid, highly sensitive, and quantitative methods to analyze proteins and related post-translational modifications in clinical specimens. In addition, as gene variants predict a patient’s likely response to a certain medication, researchers are increasingly focusing on identifying and studying various proteins, modifications, genetic variants, and their relevance to different diseases. Advances in omics technologies have made important contributions to the development of personalized medicine by facilitating the detection of protein biomarkers, proteomics-based molecular diagnostics, as well as pharmacoproteomics.
RESTRAINT: High capital investments
Advancements in various instruments have led to higher prices than previous-generation instruments due to their expensive development process. For instance, in 2022, an Illumina HiSeq X Ten sequencing instrument cost USD 1 million. In 2021, the cost of the same instrument was USD 750,000. Companies rely on accessible structural data and trial-and-error methods to determine the compounds that either stimulate or disable targets. All processes need a large number of laboratory hours, thus increasing the per-sample testing cost. Such high prices of instruments and reagents make it difficult for developing countries to venture into the field of transcriptomics. The high costs involved have led to the lower-than-expected adoption of transcriptomic technologies across the globe.
OPPORTUNITY: Opportunities in Emerging Countries
The focus on omics research has increased in developing countries like China, Brazil, Australia, and India. In these countries, proteomics research is mainly focused on mapping the human proteome and determining the mechanism of action of drugs. The establishment of the Proteomics Society, India (PSI) has provided proteomic scientists and researchers in the country with significant opportunities to form research collaborations and conduct workshops on proteomics. Similarly, increasing competition in mature markets also compels manufacturers to focus on emerging markets to ensure stable revenue growth in the coming years. Thus, although transcriptomics research is concentrated in the US and other developed countries across Europe, over the last decade, developing countries across the world have emerged as growth avenues for life sciences, including transcriptomics research.
CHALLENGE: Data management in transcriptomics research
Transcriptomics is a rapidly expanding field, aided by instrumentation accuracy and sensitivity, size, and affordability improvements. This offers many possibilities for personalized and precision medicine, which could improve diagnosis, treatment, and disease management in the coming years. However, with the increase in transcriptome and subsequent genomic analysis, there is an inevitable increase in the volume of data generated. These are just a few of the complexities involved in the data management of transcriptomics. Also, the lack of competent databases for data storage, comparing transcriptomic data, and the in-depth analysis of experimental results are further inhibiting the growth of this market.
RNA Analysis Market Ecosystem
The Reagents/Consumables segment dominated RNA analysis industry in 2022
Based on product & service, the RNA analysis market is segmented into reagent/consumables, instruments, software, and services. In 2022, the reagents/consumables segment accounted for the largest share of the market. The large share of this segment can be attributed to the growth of RNA analysis reagents is fueled by the increase in demand of genome based studies, technological advancements; and the availability of various RNA analysis reagents in the market.
North America dominated the RNA analysis industry in 2022.
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Geographically, the RNA analysis market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2022, North America accounted for the largest share of the market, followed by Europe and the Asia Pacific. The large share of the North American market is owing to various factors such presence of a large number of pharmaceutical companies and the growing demand for personalized medicines. Increased funding for protein-based research is furthermore driving market growth in North America.
Key players in the RNA analysis market are Thermo Fisher Scientific, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), Illumina, Inc. (US), Eurofins Scientific (Luxembourg)
Scope of the RNA Analysis Industry
|
Report Metric |
Details |
|
Market Revenue in 2023 |
$5.3 billion |
|
Projected Revenue by 2028 |
$9.9 billion |
|
Revenue Rate |
Poised to Grow at a CAGR of 13.4% |
|
Market Driver |
Growing demand for personalized medicine |
|
Market Opportunity |
Opportunities in Emerging Countries |
This report categorizes the RNA analysis market to forecast revenue and analyze trends in each of the following submarkets:
By Product & Service
- Reagents/Consumables
- Instrument
- Software
- Services
By Technology
- Polymerase Chain Reaction (PCR)
- Microarrays
- Sequencing
- RNA Interference
By Application
- Drug Discovery
- Clinical Diagnostics
- Toxicogenomics
- Comparative Transcriptomics
By End User
- Pharmaceutical & Biotechnology Company
- Hospitals & Diagnostic Centers
- Academic & Research Institutes
- CROs
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- UK
- France
- Italy
- Spain
- Switzerland
- Rest of Europe (RoE)
-
Asia Pacific (APAC)
- China
- Japan
- India
- Rest of Asia Pacific (RoAPAC)
- Latin America (LATAM)
- Middle East and Africa (MEA)
Recent Developments by RNA Analysis Industry
- In October 2022, Agilent Technologies and CMP Scientific Corp. entered into a co-marketing agreement to provide an integrated capillary electrophoresis-mass spectrometry (CE-MS) solution for the life science and pharmaceutical industries.
- In March 2022, Eurofins acquired Beacon Discovery, a drug discovery-based CRO. Beacon supported the fully integrated drug discovery programs from target validation to pre-clinical candidates.
- In January 2021, Thermo Fisher acquired Phitonex to provide greater flow cytometry and imaging multiplexing capabilities for protein and cell analysis research needs. Phitonex’s product offerings are also an expansion of the company’s existing protein and cell analysis portfolio.
Frequently Asked Questions (FAQ):
What is the projected market revenue value of the global RNA analysis market?
The global RNA analysis market boasts a total revenue value of $9.9 billion by 2028.
What is the estimated growth rate (CAGR) of the global RNA analysis market?
The global RNA analysis market has an estimated compound annual growth rate (CAGR) of 13.4% and a revenue size in the region of $5.3 billion in 2023.
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This study involved four major activities in estimating the current size of the RNA analysis market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. The top-down and other approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary research was used mainly to identify and collect information for the extensive, technical, market-oriented, and commercial study of the RNA analysis market. The secondary sources referred to for this research study include publications from government and private sources such as the Association of Biomolecular Resource Facilities, the Journal of the American Chemical Society, the Protein Science Society of Japan (PSSJ), the National Institutes of Health (NIH), World Health Organization (WHO), Analytical and Life Science Systems Association (ALSSA), Advanced Medical Technology Association (AdvaMed), American Association for Clinical Chemistry (AACC), American Public Health Association (APHA), European Diagnostic Manufacturers Association (EDMA), Biotechnology Innovation Organization (BIO), European Federation of Biotechnology (EFB), Journal of Biomedical Materials Research, Office for National Statistics (ONS), and Organisation for Economic Co-operation and Development (OECD), Company Websites, Annual Reports, SEC Filings, Press Releases, Investor Presentations, Journals, Expert Interviews, MarketsandMarkets Analysis. Secondary data was collected and analyzed to arrive at the overall size of the global RNA analysis market, which was then validated by primary research.
Primary Research
In-depth interviews were conducted with various primary respondents, including key industry participants, subject-matter experts (SMEs), C-level executives of key market players, and industry consultants, among other experts, to obtain and verify the critical qualitative and quantitative information as well as assess future prospects of the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The following is a breakdown of the primary respondents:
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Market Size Estimation
A top-down approach was used to estimate and validate the total size of the RNA analysis market. This method was also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and market have been identified through extensive secondary research
- The revenues generated from the RNA analysis business of leading players have been determined through primary and secondary research
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
Global RNA analysis market size: Top-Down Approach
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Data Triangulation
After arriving at the overall market size from the market size estimation process, the total market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.
Market Definition
Transcriptomics is the study of the complete set of RNAs (transcriptomes) encoded by the genome of a specific cell or organism at a specific time or under a specific set of conditions. In the healthcare industry, transcriptomics technologies have applications in clinical diagnostics, drug discovery, and toxicogenomic research. The market study includes the assessment of various products & services, technology, application, and end users in RNA analysis.
Key Stakeholders
- Life sciences instrumentation and reagent companies
- Pharmaceutical and biotechnology companies
- Proteomics database and software providers
- RNA analysis service providers
- Research and consulting firms
- Academic medical centers
- Government research organizations
- Clinical research institutes
- Contract Research Organizations
Report Objectives
- To define, describe, and forecast the RNA analysis market by product & service, technology, application, end-user, and region
- To provide detailed information about the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
- To strategically analyze micro markets with respect to the individual growth trends, prospects, and contributions to the overall market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the size of the market segments in North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To profile the key players and comprehensively analyze their market shares and core competencies in the global RNA analysis market
- To track and analyze competitive developments such as product & service launches, partnerships, collaborations, agreements, expansions, and acquisitions in the global RNA analysis market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for this report:
Geographic Analysis
- Further Breakdown Of The Rest Of Europe Rna Analysis Market Into Respective Countries
- Further Breakdown Of The Rest Of Asia Pacific Rna Analysis Market Into Respective Countries
- Further Breakdown Of The Rest Of Latin America Rna Analysis Market Into Respective Countries
Company Information
- Detailed analysis and profiling of additional market players (Up to 5)
Company Information
- An additional five company profiles
Growth opportunities and latent adjacency in RNA Analysis Market