NGS-based RNA-sequencing Market

The market for next-generation sequencing (NGS)-based RNA sequencing is expanding quickly due to the increased applications of NGS technology in clinical diagnosis and research. The way scientists investigate transcriptomics, gene expression, and molecular biology is being completely transformed by this market.

Overview

The global NGS-based RNA-sequencing market is projected to reach USD 5.5 billion by 2027 from USD 2.5 billion in 2022, at a CAGR of 17.2%. The NGS-based RNA-sequencing market is rapidly growing, driven by advancements in next-generation sequencing (NGS) technologies and their increasing applications in research and clinical diagnostics. This market is revolutionizing the way researchers study gene expression, transcriptomics, and molecular biology.

Market Size

Current Valuation: As of 2022, the NGS-based RNA-sequencing market size is estimated to be around USD 2.5 billion.

Growth Projections: The market is expected to grow at a compound annual growth rate (CAGR) of approximately 17.2% from 2022 to 2027, potentially reaching USD 5.5 billion by 2027.

Regional Insights: North America holds the largest market size due to significant research funding, advanced healthcare infrastructure, and widespread adoption of NGS technologies. Europe and the Asia-Pacific regions are also experiencing substantial growth due to increasing investments in genomic research and healthcare improvements.

To know about the assumptions considered for the study download the pdf brochure

Market Share

Key Players: Leading companies such as Illumina, Thermo Fisher Scientific, and Pacific Biosciences dominate the NGS-based RNA-sequencing market share. These companies offer comprehensive NGS platforms, reagents, and data analysis tools, driving their market dominance.

Application Segments: Research applications account for the largest market share, driven by the need for detailed gene expression profiling and transcriptome analysis. Clinical diagnostics is a rapidly growing segment, as RNA-sequencing is increasingly used for diagnosing genetic disorders, cancers, and infectious diseases.

Technological Advancements: Continuous advancements in sequencing technologies, including higher throughput, increased accuracy, and reduced costs, are significantly enhancing the market share of NGS-based RNA-sequencing.

Industry Dynamics

Demand Drivers: The growing prevalence of chronic diseases and genetic disorders, along with the increasing need for personalized medicine, are major drivers of the NGS-based RNA-sequencing market. The technology’s ability to provide comprehensive and precise genetic information is critical for disease research and drug development.

Research and Development: Continuous R&D efforts focused on improving sequencing accuracy, speed, and cost-effectiveness are crucial for market growth. Collaborations between academic institutions and industry players are accelerating innovations in RNA-sequencing.

Regulatory Environment: Stringent regulatory frameworks ensure the accuracy and reliability of RNA-sequencing data, fostering trust and adoption in clinical diagnostics and research. Compliance with these regulations is essential for market success.

Current Happenings

Product Launches: Companies are actively launching new RNA-sequencing platforms and kits with enhanced features. For example, Illumina’s recent introduction of the NextSeq 2000 system offers improved throughput and cost efficiency, setting new industry standards.

Collaborations and Partnerships: Strategic partnerships between key players and research institutions are driving innovation and expanding the application of RNA-sequencing technologies. Collaborative projects focused on rare disease research and cancer genomics are particularly noteworthy.

Future Outlook

The NGS-based RNA-sequencing market is poised for robust growth, driven by technological advancements and increasing applications in research and clinical diagnostics. Key players are expected to continue investing in R&D and strategic collaborations to enhance their product offerings and market position. With ongoing innovations and favorable market dynamics, the NGS-based RNA-sequencing market is set to experience significant expansion in the coming years.

Conclusion

The NGS-based RNA-sequencing market size and share are on an upward trajectory, supported by rising demand for detailed genetic analysis and continuous technological advancements. Key industry players are leveraging strategic partnerships and innovations to maintain and expand their market share. With promising future prospects, the NGS-based RNA-sequencing market is well-positioned for continued growth and development.

Related Reports:

NGS-based RNA-sequencing Market by Product & Services (Sample Preparation, Platforms & Consumables, Services, Data Analysis), Technology (SBS, SMRT, Nanopore), Application (De Novo, Epigenetics, small RNA), End-User, Region - Global Forecast to 2027