“The NGS-based RNA-sequencing market is projected to grow at a CAGR of 20.0%.”
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; an increasing number of RNA-seq grants; rising number of research activities involving RNA-seq; rapid growth in precision medicine are the key factors driving the growth of the NGS based RNA sequencing industry.
“Pharmaceutical & biotechnology companies segment to witness the highest growth in the NGS-based RNA-sequencing market during the forecast period.”
Based on the end-user, the NGS-based RNA-sequencing industry is segmented into research & academia, hospitals & clinics, pharmaceutical & biotechnology companies, and other end users. The pharmaceutical & biotechnology companies segment is expected to witness highest growth rate during the forecast period mainly due to growing number of agreements and collaborations between NGS market players and pharmaceutical & biotechnology companies for the development of advanced products.
“Expression profiling analysis application to hold the largest share in the NGS-based RNA-sequencing market.”
Based on application, the NGS-based market is segmented into expression profiling analysis, small RNA-sequencing, de novo transcriptome assembly, and variant calling & transcriptome epigenetics. In 2018, the expression profiling analysis segment accounted for the largest share mainly due to the increasing prevalence of metabolic disorders, multiple sclerosis, and other diseases will propel the demand for expression profiling analysis to provide specific treatment options in the market during the forecast period.
“The Asia Pacific market is expected to witness the highest CAGR during the forecast period.”
The market in Asia Pacific is projected to register the highest CAGR during the forecast period. Significant focus on R&D activities as a means of broadening the scope of RNA-Seq applications and decreasing the costs of NGS products and services are some of the key factors supporting the growth of the NGS-based RNA-sequencing market in the Asia Pacific.
Breakdown of supply-side primary interviews:
- By Company Type: Tier 1: 45%, Tier 2: 34%, and Tier 3: 21%
- By Designation: C-level: 47%, D-level: 33%, and Others: 20%
- By Region: North America: 35%, Europe: 32%, APAC: 25%, Latin America: 6% and Middle East & Africa: 2%
The major players operating in the NGS-based RNA-sequencing market are Illumina (US), Thermo Fischer Scientific (US) and Oxford Nanopore (UK), Agilent Technologies, Inc. (US), BGI (China), PerkinElmer Inc. (US), QIAGEN (Germany), Eurofins Scientific (Luxembourg), F. Hoffmann-La Roche Ltd (Switzerland), Takara Bio Inc. (Japan), GENEWIZ, Inc. (US), Hamilton Company (US), Macrogen (South Korea), Zymo Research (US), and Tecan Genomics, Inc. (Switzerland) among others are the major players operating in the NGS-based RNA-sequencing market
- This report studies the NGS-based RNA-sequencing market based on product & service, technology, application, end user, and region. It also covers factors affecting market growth, analyzes various opportunities and challenges in the market, and provides details of the competitive landscape for market leaders.
- Furthermore, the study analyzes micromarkets with respect to their growth trends and forecasts the size of market segments with respect to key regions?North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa (and the respective countries in these regions).
Reasons To Buy the Report:
- From an insight perspective, this research report focuses on various levels of analysis market ranking analysis of the top players and their company profiles, which together comprise and discuss basic views on the competitive landscape, emerging segments of the NGS-based RNA-sequencing market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, will help firms garner greater market shares.