NGS-Based RNA-Sequencing Market

Illumina (US) and Thermo Fisher Scientific (US) are the Key Players in the NGS-Based RNA-Sequencing Market

The NGS-based RNA-sequencing market size is projected to reach USD 4.2 billion by 2024 from USD 1.7 billion in 2019, at a CAGR of 20.0%. Advantages of RNA-seq over conventional technologies, increasing number of RNA-seq grants, growing number of research activities involving RNA-seq, and rapid growth in precision medicine are the key factors driving the growth of the NGS-based RNA-sequencing market.

An analysis of market developments between 2016 and 2019 revealed that growth strategies such as product launches, acquisitions, expansions, and agreements were adopted by market players to strengthen their product portfolios and maintain a competitive position in the NGS-based RNA-sequencing industry. Product launch and agreements were the most widely adopted growth strategy by market players in the last four years.

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Illumina (US)

Illumina dominates the next-generation sequencing market with its technologically advanced & innovative platforms and associated sequencing products. The company’s product portfolio includes a wide range of highly interconnected products, including sequencing, genotyping, gene expression, and molecular diagnostic products. Illumina also offers NGS-based RNA sequencing services which further strengthens its market position. Over the past three years, Illumina has launched several products in the market. To sustain continuous product development, the company invests a significant amount of its revenue on R&D expenditure. In 2018, Illumina invested 18.7% of its revenue on R&D. The company also focuses on strategic agreements with leading players in the market to co-develop advanced technologies and strengthen its research & commercialization capabilities. In the past three years, Illumina has entered into agreements with Lundbeck Foundation GeoGenetics Centre (Denmark), KingMed Diagnostics, Genome One (Australia), GeneDx (US), HudsonAlpha (US), among others to serve its customers efficiently. With its strong product portfolio and extensive geographic presence, Illumina is expected to witness high revenue growth in the NGS-based RNA-sequencing market during the forecast period.

Thermo Fisher Scientific (US)

Thermo Fisher Scientific offers an extensive range of products, including analytical instruments, equipment, reagents & consumables, software & services for research, analysis, discovery, and diagnostics. In addition to a robust product portfolio of NGS sample preparation, the company has a substantial geographic presence. The company launched several products in the past three years, including the Oncomine Childhood Cancer Research Assay and the Oncomine Immune Response Research Assay. With its strong product portfolio, continuous research & development, and broad geographic reach, the company is expected to grow in the NGS sample preparation segment, within the global NGS-based RNA-sequencing market.

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 2024

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Report Code
BT 5297
RI Published ON
9/27/2019
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