REPORT HIGHLIGHT
NGS-based RNA-sequencing market size was valued at USD 2,408.1 Million in 2022, expanding at a CAGR of 18.8% from 2023 to 2030.
NGS-based RNA sequencing is defined as a high throughput next-generation sequencing method that is utilized to examine gene expression and transcriptomics studies. Additionally, the technology offers researchers visibility into previously unrevealed variations occurring in disease states, in response to therapeutics, in several environmental settings, and among a wide range of study designs. In line with this, it is an accurate and sensitive tool for measuring expressions across the transcriptome.
NGS-based RNA-sequencing Market- Market Dynamics:
- Demand of NGS sequencing and Technological advancements is propelling the demand.
- NGS-based RNA-sequencing demand boosted significantly across the globe owing to the introduction of next-generation sequencing technology. Additionally, to get comprehensive and advanced insights at a genomic level, it is extensively used in conventional and non-conventional applications. Rising demand for improved sequencing-based diagnostics has offered brand-spanking new seq-technologies. Based on this, devices such as portable units and robust high-throughput sequencers have grown significantly. Moreover, in sequencing technology, continuous advancements have allowed for the development of easy-to-use, efficient, and portable NGS sequencers that provide exact speedy while reducing turnaround times. This in turn leads companies are focusing continually on investing in research activities for innovative product development to improve their positions in this high-growth industry. However, the lack of diagnostic testing standards and qualified specialists is attributed to hampering the expansion of the NGS-based RNA-sequencing market. Furthermore, advances in next-generation sequencing such as paired-end (PE) sequencing have allowed library preparation to manufacture twice as many reads simultaneously. In line with this, the procedure involves matching forward and reverse reads as reading pairs and sequencing both ends of DNA fragments from the library. The techniques have also made it possible to build sequences with more accurate read alignment and, allow them to detect indels, which is not possible with single-read data. Thus, such factors are projected to drive the NGS-based RNA-sequencing market growth.
NGS-based RNA-sequencing Market- Key Insights:
- As per the analysis shared by our research analyst, the global NGS-based RNA-sequencing market is estimated to grow annually at a CAGR of around 18.8% over the forecast period (2023-2030)
- The NGS-based RNA-sequencing industry is projected to grow at a significant rate due to the growing demand of NGS sequencing and technological advancements
- Based on application segmentation, small RNA sequencing was predicted to show maximum market share in the near future
- Based on product and service segmentation, sample preparation products was the leading type in 2022
- On the basis of region, North America was the leading revenue generator over the forecast period
NGS-based RNA-sequencing Market- Segmentation Analysis:
- The global NGS-based RNA-sequencing market is segmented on the basis of product and service, technology, application, end user, and region.
- The market is divided into four categories based on product and service: sequencing services, sample preparation products, data analysis, storage, & management, sequencing platforms, and consumables. The sample preparation products segment accounts for the high number of shares in the market. RNA molecules are fragmented, isolated, and purified during the process of sample preparation, which is followed by quality assurance and library creation. Moreover, the quality and purity of the RNA samples may impact the downstream sequencing and data analysis operations obtained through sample preparation. In the RNA sequencing process, sample preparation is now an essential phase, as a result, developments in sample preparation technologies including downsizing and automation are expected to boost the revenue growth of this segment.
- The market is divided into four categories based on technology: single-molecule real-time sequencing, sequencing by synthesis, nanopore sequencing, and ion semiconductor sequencing. The sequencing by synthesis segment is expected to hold the largest market share. The growing popularity of the segment is attributed to the sequencing by synthesis technology as a result of its affordability, great accuracy, and quickness. Moreover, it is commonly used in tasks such as Gene Expression profiling, RNA editing analysis, and alternative splicing analysis. Furthermore, data analysis techniques and chemistry improvements lead to higher sequencing accuracy, improved read lengths, and lower error rates, thin in turn increase the utilization of the segment.
- The market is divided into four categories based on application: variant calling & transcriptome epigenetics, expression profiling analysis, de novo transcriptome assembly, and small RNA sequencing. The small RNA sequencing segment is expected to possess the largest market revenue. The segment is broadly used for comprehensive and sophisticated genomic insights in both standard and non-traditional applications. Additionally, several causes such as the advantages of RNA-seq over microarray technology, a high need for precision medicine, technological developments, and an increase in RNA-seq awards are such factors attributed to increase the in segment growth.
- The market is divided into three categories based on end-users: pharmaceutical & biotechnology companies, research and academia, hospitals and clinics, and others. The research and academia segment is likely to maintain its dominance in the market owing to offering references for further research. Moreover, it is anticipated to play a major role in driving breakthroughs and discoveries in several research fields such as neurobiology, oncology, genetics, personalized medicine, and immunology. Additionally, for researchers and scientists in academia, it offers tremendous potential to unravel the mysteries of life at the molecular level and contribute to the progress of science and medicine.
NGS-based RNA-sequencing Market- Geographical Insights:
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
NGS-based RNA-sequencing Market- Competitive Landscape:
Growing benefits of RNA-Seq, rising research activity, and increasing demand for precision medicine are expected to boost the growth of the NGS-based RNA-sequencing market. Additionally, rising investment in cancer research along with the agriculture sector will boost the NGS-based RNA-sequencing market forward over the projection period. Moreover, the market is highly competitive with various medium and large-sized players. Key players are deploying various strategies such as strategic agreements & contracts, introducing more effective products, and mergers & acquisitions. For instance, in May 2021, Bio-Rad Laboratories, Inc. a global leader in life science research and clinical diagnostic products launched the SEQuoia RiboDepletion Kit, which improves assay efficiency by eliminating irrelevant ribosomal RNA (rRNA) fragments from an RNA-Seq library.
Recent Developments:
For instance, in March 2022, Element Biosciences Inc. launched the Element AVITI™ System, a benchtop sequencer delivering an unrivaled combination of cost, performance, and flexibility.
Key features of the study:
- This proposed research study on NGS-based RNA-sequencing market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year.
- The report provides the client the latest up-to-date and trending insights about the NGS-based RNA-sequencing market.
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for NGS-based RNA-sequencing market.
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the NGS-based RNA-sequencing market.
- Impact of COVID-19 on NGS-based RNA-sequencing market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on NGS-based RNA-sequencing market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the NGS-based RNA-sequencing market, we have also included competitive landscape and key innovator analysis for the NGS-based RNA-sequencing market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants who will help users to understand their financial information and strategic initiatives of players operating in the NGS-based RNA-sequencing market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global NGS-based RNA-sequencing market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL NGS-BASED RNA-SEQUENCING MARKET KEY PLAYERS
- Zymo Research Corporation
- Illumina Inc. (US)
- Agilent Technologies, Inc.
- BGI
- Thermo Fischer Scientific Inc.
- F. Hoffmann-La Roche Ltd
- Oxford Nanopore Technologies plc
- Hamilton Company
- Tecan Trading AG
- Takara Bio Inc.
- QIAGEN
- PerkinElmer Inc.
- Eurofins Scientific
GLOBALNGS-BASED RNA-SEQUENCING MARKET, BY PRODUCT AND SERVICE
- Sequencing Services
- Sample Preparation Products
- Data Analysis, Storage, and Management
- Sequencing Platforms and Consumables
GLOBAL NGS-BASED RNA-SEQUENCING MARKET, BY TECHNOLOGY
- Single-molecule Real-time Sequencing
- Sequencing by Synthesis
- Nanopore Sequencing
- Ion Semiconductor Sequencing
GLOBAL NGS-BASED RNA-SEQUENCING MARKET, BY APPLICATION
- Variant Calling and Transcriptome Epigenetics
- Expression Profiling Analysis
- De Novo Transcriptome Assembly
- Small RNA Sequencing
GLOBAL NGS-BASED RNA-SEQUENCING MARKET, BY END USER
- Pharmaceutical & Biotechnology Companies
- Research and Academia
- Hospitals and Clinics
- Other
GLOBAL NGS-BASED RNA-SEQUENCING MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Russia
- Netherlands
- Sweden
- Poland
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Australia
- Thailand
- Indonesia
- Philippines
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Israel
- Turkey
- Algeria
- Egypt
- Rest of MEA