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% during the forecast period. Factors such as the advantages of RNA sequencing over conventional technologies, the decreasing costs of genome sequencing, increasing government funding to support genomics projects, growing research involving RNA sequencing, growing cancer cases, the increasing application of NGS in cancer research, and rapid growth in personalized medicine are expected to drive the growth of the market.
The NGS-based RNA-sequencing market is consolidated in nature. Major market players are implementing strategies to sustain market competition. Prominent players in the global NGS-based RNA-sequencing market are Illumina, Inc. (US), Thermo Fisher Scientific, Inc. (US), QIAGEN N.V. (Netherlands), PerkinElmer, Inc. (US), and Eurofins Scientific (UK).
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Illumina (US) is the leading player in the NGS-based RNA-sequencing market. The company’s dominant position in this market can be attributed to its robust product offerings and NGS-RNA services. Its product segment includes a wide range of sequencing, genotyping, gene expression, and molecular diagnostic platforms, consumables, and services that run on the SBS technology. In the past three years, Illumina has launched several products, including the NovaSeqT 6000 v1.5 Reagent Kit, TruSight Software Suite, NextSeq 1000, NextSeq 2000, and VeriSeq NIPT Solution v2.
THERMO FISHER SCIENTIFIC, INC.
Thermo Fisher Scientific (US) held the second position in the NGS-based RNA-sequencing market. The company’s NGS sequencers run on ion semiconductor sequencing technology. Thermo Fisher will continue to have a strong market position owing to its robust platforms and consumables. The company also has a significant geographic presence. It mainly focuses on partnerships and collaborations to strengthen its position.
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
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