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. Growth in the NGS-based RNA-sequencing market is mainly driven by the advantages of RNA sequencing over conventional technologies, the decreasing cost 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. On the other hand, a lack of qualified specialists, end-user budget constraints in developing countries, and standardization concerns in diagnostic testing are expected to limit the market growth.
“Nanopore sequencing segment is anticipated to grow at substantial CAGR during the forecast period.”
Based on technology, the NGS-based RNA-sequencing market has been segmented into sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, and nanopore sequencing. The nanopore sequencing segment is projected to register the highest CAGR from 2022 to 2027. Nanopore sequencing is the only sequencing technology with direct RNA-sequencing capabilities. The adoption of nanopore sequencing is increasing among end users due to its benefits as compared to other next-generation sequencing technologies, such as single-molecule sequencing of native DNA and RNA capable of detecting modifications in individual nucleotides allowing primers to cover the whole length of the 16S gene or even whole ribosomal operons, real-time targeted sequencing, large read lengths and full-length cDNA read, and reliable detection of structural variants.
“Expression profiling analysis applications segment dominated the market in 2021.”
On the basis of 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 NGS-based RNA-sequencing market. The increasing prevalence of metabolic disorders, multiple sclerosis, and other diseases are expected to propel the demand for expression profiling analysis.
“North America held the dominant share of the market in 2021.”
Geographically, the NGS-based RNA-sequencing market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. In 2021, North America accounted for the major share of the NGS-based RNA-sequencing market. North America held the dominant share owing to the availability of government support, advancements in RNA sequencing products, the growing prevalence of target diseases, growing research on cancer and inherited rare diseases, and the strong presence of key players in the region. However, the Asia Pacific market is projected to grow at the highest CAGR during the forecast period, owing to a significant focus on R&D, the decreasing costs of NGS products and services, and the increasing focus of major market players on strengthening their presence in the Asia Pacific.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type – Tier 1: 45%, Tier 2: 34%, Tier 3: 21%
- By Designation – C-level: 47.0%, D-level: 33.0%, and Others: 20.0%
- By Region - North America: 35%, Europe: 32%, Asia Pacific: 25%, Latin America: 6%, and the Middle East & Africa: 2%
List of Companies Profiled in the Report
- Illumina, Inc. (US)
- Thermo Fisher Scientific, Inc. (US)
- PerkinElmer, Inc. (US)
- QIAGEN N.V. (Netherlands)
- Eurofins Scientific (UK)
- Oxford Nanopore Technologies (UK)
- Agilent Technologies, Inc. (US)
- BGI Group (China)
- GENEWIZ (US)
- Hamilton Company (US)
- NuGEN Technologies (US)
- Psomagen, Inc. (South Korea)
- F. Hoffmann-La Roche AG (Switzerland)
- Takara Bio, Inc. (Japan)
- Pacific Biosciences (US)
- Zymo Research Corporation (US)
- Lucigen Corporation (US)
- Genotypic Technology (India)
- Oxford Gene Technology (UK)
- Becton, Dickinson and Company (US)
This report provides a detailed picture of the global NGS-based RNA-sequencing market. It aims at estimating the size and future growth potential of the market across different segments, such as product & service, technology, application, end user, and region. The report also analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth. It evaluates the opportunities in the market for stakeholders and provides details of the competitive landscape for market leaders. The report also studies micromarkets with respect to their growth trends, prospects, and contributions to the total NGS-based RNA-sequencing market. The report forecasts the revenue of the market segments with respect to four major regions.
Reasons To Buy the Report:
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on NGS-based RNA-sequencing offered by the top 20 players in the NGS-based RNA-sequencing market. The report analyses the NGS-based RNA-sequencing market by product & service, technology, application, end user, and region.
- Market Development: Comprehensive information about beneficial emerging markets. The report analyzes the markets for various NGS-based RNA-sequencing products and services across key geographic regions.
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the NGS-based RNA-sequencing market.
- Competitive Assessment: In-depth assessment of market ranking and strategies of the leading players in the NGS-based RNA-sequencing market.