NGS-based RNA-seq Market

Product and Service Launches and Agreements, Partnerships, and Collaborations Were the Key Growth Strategies Adopted by Leading Market Players in the Global NGS-based RNA-seq Market

The global NGS-based RNA-seq market is expected to grow at a CAGR of 20.2% between 2017 and 2022. The factors driving the growth of this market are the advantages of RNA-seq over microarray technology, technological advancements in RNA-seq products, increasing number of RNA-seq grants, increasing number of research activities, and rapid growth in precision medicine. However, accuracy and standardization concerns in diagnostic testing and the lack of skilled professionals are some of the key factors hindering the growth of the market.

The major players in the market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), QIAGEN N. V. (Germany), Pacific Biosciences of California, Inc. (U.S.), BGI (China), Oxford Nanopore Technologies, Ltd. (U.K.), PerkinElmer, Inc. (U.S.), GATC Biotech AG (Germany), Agilent Technologies, Inc. (U.S.), Roche Holding AG (Switzerland), Macrogen, Inc. (South Korea), and Eurofins Scientific (Luxembourg).

Analysis of the market developments between 2014 and 2017 (January) reveals that product launches, product enhancements, and service launches were the most widely adopted growth strategies by players in the market. Players adopted these strategies to strengthen their product portfolios and maintain a competitive position in the market. For instance, in January 2017, Illumina, Inc. (U.S.) launched NovaSeq series, a faster and cost-effective sequencing platform, at the J.P. Morgan Healthcare Conference. The NovaSeq series comprises NovaSeq 5000 and NovaSeq 6000 systems featuring lower per sample consumable costs. Similarly, in November 2016, Oxford Nanopore Technologies, Ltd. (U.K.) launched the 16S workflow useful in identifying pathogens in a mixed sample.

Market players also adopted strategic partnerships and collaborations to strengthen their market position by developing and providing technologically advanced products to its customer base. For instance, in October 2016, Lexogen GmbH (Austria) collaborated with Bluebee Holding B.V. (Netherlands) with the aim to simplify gene expression RNA-seq data analysis. Similarly, in August 2016, Illumina, Inc. (U.S.) entered into a partnership with FlowJo, LLC (U.S.), a data analysis software provider, for developing and co-marketing its single-cell next-generation sequencing (NGS) data analysis software. As per the agreement, a new software application capable of integrating smoothly with Illumina’s Single Cell RNA BaseSpace app will be developed by FlowJo, LLC.

Illumina is a leader in the NGS-based RNA-seq market with its technologically advanced and innovative platforms and associated RNA-seq products. With a growth rate of 8.0%, Illumina generated revenue of USD 2.39 billion in 2016 as compared to USD 2.22 billion in 2015. This increase is attributed to the high sales of sequencing consumables and growth in the installed base of sequencing systems. The company adopts the strategy of product launch to sustain its leadership position in the NGS-based RNA-seq market. For this purpose, the company invests a significant amount of its revenue on R&D expenditure. In 2016, the company invested 21.0% of its revenue on R&D, as compared to 18.1% in 2015. The company also focuses on strategic agreements with leading players in the market to co-develop advanced technologies and strengthen its research and commercialization capabilities. In the last three years, the company entered into agreements with Novogene (China), Burning Rock (China), Annoroad (China), bioMérieux SA (France), and Genoma (Switzerland), to co-develop advanced NGS technologies including RNA-seq, to serve its customers efficiently. Additionally, through its distribution agreements with Pensabio (Brazil) and Albiogen Ltd. (Russia), the company strengthened its distribution network and expanded its geographic reach. With its strong product portfolio and wide geographic presence, the company is expected to grow at a high rate in the NGS-based RNA-seq market during the forecast period.

Thermo Fisher Scientific is a leading market player with its extensive range of NGS-based RNA-seq products, including analytical instruments, equipment, reagents and consumables, software & services for research, analysis, discovery, and diagnostics. In addition to a robust product portfolio, the company has a substantial geographic presence. Through agreements with leading pharmaceutical companies, the company aims to develop NGS-based oncology tests for companion diagnostics. With its strong product portfolio and wide geographic reach, the company is expected to witness rapid growth in the NGS-based RNA-seq market.

Other strategies adopted by market players are acquisitions and geographic expansions. These strategies were adopted to enter new markets and to widen their reach. For instance, in January 2017, QIAGEN N.V. (Germany) acquired OmicSoft Corporation (U.S.) to enhance its bioinformatics capabilities through OmicSoft’s multi-omics data management solution and curate omics data sets, and facilitate advancements in discovery and translational research using NGS technologies like RNA-seq. Similarly, in December 2016, Agilent Technologies, Inc. (U.S.) acquired Multiplicom N.V., (Belgium) which helped the company to strengthen its presence in the market. Additionally, in December 2016, BGI (China) formed its new division-BGI Groups USA in Seattle.

Related Reports:

NGS-based RNA-seq Market by Products & Services (Sample Preparation, Consumables, Bioinformatics), Technology (SBS, SMRT), Application (De novo, Transcriptome Epigenetics, Small RNA), End User (Research Centers, BioPharma Companies) - Global Forecast to 2022

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Report Code
BT 5297
Published ON
May, 2017
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