The Global NGS-based RNA-seq 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", 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.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=102977816
Browse in-depth TOC on "NGS-based RNA-seq Market”
166 – Tables
34 – Figures
208 – Pages
The growth of the NGS-based RNA-sequencing market is largely driven by 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.
DRIVER: Decreasing costs of genome sequencing
In the last two decades, advances in genomics have resulted in a substantial reduction in the cost of genomic sequencing. For example, in 2019, the cost of whole human genome sequencing using Illumina’s technology was USD 1,000, compared to USD 14 million in 2008, and is expected to decline further in 2023. Pacific Biosciences of California provides human genome sequencing 10X coverage at ~USD 3,000 and 30X coverage at ~USD 10,000.
The cost of sequencing depends on the genome size, which varies from organism to organism. For instance, targeted sequencing is less expensive than whole-genome sequencing. Apart from genome size, data quality is another major factor associated with variations in the cost of sequencing. Sequencing cost also depends on the average number of times each base in the genome is actually read during the sequencing workflow. Due to the reduced costs, several companies are participating in RNA sequencing projects. The cost per raw megabase of RNA sequence has also declined in the last two decades. This has helped sequencing service providers to offer NGS-based RNA sequencing services at lower prices. Consequently, the application of these services is increasing with their affordability.
RESTRAINT: Standardization concerns of RNA-sequencing in diagnostic testing
A shift from research applications of RNA-sequencing to clinical diagnostic applications is expected due to the decreasing sequencing costs. Hence, there is a need to standardize tests to avoid discrepancies in understanding and studying reports of RNA-sequencing diagnostic applications. The US Food and Drug Administration (FDA) is working to establish regulations for RNA sequencing diagnostics to tackle uncertainties regarding the accuracy and reliability of NGS. The interpretation of RNA-sequencing data requires trained physicians as efficient RNA-sequencing data analysis is a critical factor for diagnosis. However, the complexity of NGS technologies and data presents significant challenges to its acceptance in clinical laboratory practices, quality measures, and compliance with regulatory and professional standards. There is a need to identify unmet gaps and processes for test validation, quality control, and quality assurance of NGS-based RNA-sequencing applications for clinical testing. Thus, the lack of standardization in RNA sequencing for diagnostic testing is expected to hamper the growth of the NGS-based RNA-sequencing market.
OPPORTUNITY: Adoption of blockchain technology and cloud computing
The adoption of blockchain technology in healthcare is still nascent. Still, it has a huge potential to transform the current healthcare industry, revolutionize public and private service delivery, and strengthen customer data transparency. The increasing adoption of Blockchain-as-a-Service (BaaS) with significant funding through venture capitalists and initial coin offerings (ICOs) creates growth opportunities. Companies such as Nebula Genomics (US) are working on projects to share genetic information available to researchers securely, and patients are expected to be paid for shared data. The UK-based EncrypGen did similar work in genomic data storage.
Inquiry Before Buying @
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=102977816
RNA sequencing platforms consumables segment held a major share in the NGS-based RNA-sequencing market in 2021.
Based on product, the NGS-based RNA-sequencing market is segmented into sample preparation products, RNA sequencing platforms and consumables, RNA sequencing services, and data analysis, storage, and management. The RNA sequencing platforms and consumables segment is estimated to be the largest segment in this market. The availability of advanced, efficient, and accurate platforms at a low cost has reduced the cost of sequencing overall, thereby boosting the overall pace of sequencing activity. Continuous technological advancements have also contributed to market growth. The growth of the consumables market is tied to the instruments market and is driven by rising research activity, the need for repeated purchases, and the use of consumables in sequencing. On the other hand, the RNA sequencing services segment is expected to grow at the highest CAGR during the forecast period owing to the expansions in NGS-based RNA service portfolios, the increasing number of contracts for RNA-sequencing services, and the rising adoption of advanced NGS platforms by service providers.
Expression profiling analysis application segment dominated the global NGS-based RNA-sequencing market in 2021.
Based on application, the NGS-based RNA-sequencing market is segmented into expression profiling analysis, small RNA sequencing, de novo transcriptome assembly, and variant calling transcriptome epigenetics. In 2021, the expression profiling analysis segment accounted for the largest share of the global NGS-based RNA-sequencing market. Expression profiling analysis is adopted on a large scale during immunology and stem cell research and neurobiology studies to evaluate cell differentiation and development. Expression profiling analysis is used to analyze patient samples to provide specific treatment options. It also detects complex diseases, such as multiple sclerosis, cardiomyopathy, and metabolic disorders. Thus, the increasing prevalence of metabolic disorders, multiple sclerosis, and other diseases are expected to propel the demand for expression profiling analysis.
Key Market Players
The prominent players in the NGS-based RNA-sequencing market are Illumina, Inc. (US), QIAGEN N.V. (Netherlands), PerkinElmer, Inc. (US), Eurofins Scientific (UK), and Thermo Fisher Scientific, Inc. (US). These companies have adopted organic and inorganic growth strategies, such as product and service launches and acquisitions, to maintain their leading positions in the NGS-based RNA-sequencing market.
Asia Pacific to witness the highest growth in the NGS-based RNA-sequencing market during the forecast period
Geographically, the NGS-based RNA-sequencing market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East Africa. The market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. The high growth rate of the APAC region can be attributed to a significant focus on RD, the decreasing costs of NGS products and services, and the increasing focus of major market players on strengthening their presence in the Asia Pacific.
View detailed Table of Content here@ https://www.marketsandmarkets.com/Market-Reports/ngs-based-rna-seq-market-102977816.html
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/ngs-based-rna-seq.asp
Related Report:
