New York, April 28, 2023 (GLOBE NEWSWIRE) -- Market.us predicts that the RNA Analysis Market will achieve a registered compound annual growth rate (CAGR) of 14% from 2023 to 2032, resulting in a market size exceeding USD 34.37 billion by 2032, up from USD 9.58 billion in 2022.
Transcriptomics is one of the most advanced fields in post-genomic science. Its rapid advancement can be attributed to its increasing applications in life science for capturing polyadenylated RNA. With the development of next-generation high throughput sequencing technology, transcriptome analysis is making strides toward providing a greater understanding of how RNA-based genes are regulated.
In July 2021, a Lithuanian team is developing a droplet-based technique for simultaneous mRNA and microRNA capture and sequencing within one cell. The growing need to analyze a large number of genes in order to better comprehend gene-drug interactions is anticipated to further drive the use of transcriptomics technologies for discovery applications and drug development. For instance, transcriptome profiles of COVID-19 patients have been analyzed to better comprehend their disease prognosis and management. Furthermore, rising demand for personalized medicines is expected to fuel industry growth over the forecast period.
In April 2020, Caris Life Sciences announced the submission of Pre-Market Approval applications for MI Transcriptome CDx to the USFDA. This precision medicine assay includes important companion diagnostic biomarkers; however, data management in transcriptomic research and the lack of effective bioinformatics tools remain major obstacles in this industry.
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Key Takeaway:
- By the product type’s analysis, the kits and reagent segment with 57% market share.
- By technology analysis, Real Time-PCR (qPCR) Technology segment dominates the market with a 44% market share.
- By Application Analysis, the clinical diagnostics segment dominates the market with a 37% market share.
- By End-User analysis, Government Institutes & Academic Centres segment dominates the market 35% market share.
- In 2022, North America dominated the market with the highest revenue share of 41%.
- APAC is expected to grow at a greater pace owing to affordable prices, increasing medical tourism, as well as hospitals and clinics, among other factors.
Factors affecting the growth of the RNA analysis market
- Advances in Technology: One of the primary drivers of growth within the RNA analysis industry has been advances in technology such as next-generation sequencing (NGS) and single-cell sequencing. These tools make it possible to analyze RNA more precisely than ever before, providing researchers with new insights into disease mechanisms and drug development.
- Personalized Medicine Is on the Rise: As personalized medicine becomes more widespread, so too does the demand for RNA analysis. RNA analysis provides valuable information about a patient's genetic makeup, enabling doctors to customize treatments according to their individual needs.
- Precision Medicine: Precision medicine strives to deliver tailored therapies to patients based on their genetic makeup. RNA analysis can provide essential data about gene expression patterns, which could identify potential drug targets and biomarkers for disease.
- Increased Cancer Prevalence: Cancer is one of the leading causes of death worldwide, and its incidence is rising. RNA analysis is becoming an integral tool in cancer research, providing researchers with insights into biomarkers, developing new therapies, and monitoring treatment effectiveness.
- Investment in Research and Development: The RNA analysis industry has seen significant investment in research and development over the last several years, leading to the development of new technologies, products, and services. This investment has fostered innovation and growth within the sector.
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Top Market Trends of RNA Analysis Market
RNA-based therapeutics are an increasingly popular trend in the RNA market. Recent advances in delivery technology, such as nanoparticle-based delivery systems, are fueling research into new RNA drugs that can target specific tissues and cells. RNA sequencing is a rapidly expanding trend in the RNA market. As more data becomes available from this process, companies that offer RNA sequencing services and related bioinformatics tools will see increased opportunities. Personalized medicine, which involves tailoring medical treatments to each patient based on their genetic makeup, is an emerging trend in the RNA market. RNA-based diagnostics and therapeutics can play a significant role in personalized medicine by enabling treatments tailored to each patient's genetic profile. Gene editing technologies such as CRISPR-Cas9 are increasingly being employed in the RNA market to manipulate and alter RNA molecules. This presents opportunities for developing novel RNA-based therapeutics and diagnostics. Investments in RNA research are on the rise across governments, academic institutions, and private companies alike. This has created opportunities for collaboration and the development of new RNA-based products and technologies.
Market Growth
- Increased Demand: As more people show interest in a particular product or service, demand will increase, propelling the market growth.
- Technological Advancements: Technological innovations can open up new prospects for growth by allowing the creation of innovative products and services or improving existing ones.
- Economic Conditions: Positive economic conditions such as low unemployment and growing consumer confidence can spur higher spending by consumers, ultimately stimulating market growth.
- Regulatory Shifts: Regulators can alter and create new growth opportunities by expanding markets or lowering entry barriers.
- Demographic Changes: Demographic changes such as aging, urbanization, and immigration can create new demands for products and services, stimulating market growth.
- Competitive Landscape: As competition intensifies, companies may need to innovate and enhance their products or services to remain competitive, spurring market expansion.
Regional Analysis
Regional Analysis reveals that North America dominates the market with a 41% share. This growth can be attributed to the rapid development of structure-based drug designs, increased emphasis on transcriptomics research, and high investments in biopharmaceutical R&D. Additionally, rising investment in pharmaceutical research and drug development is fuelling the revenue growth of companies throughout this region. Asia Pacific, however, is expected to experience the fastest compound annual growth rate during the forecast period. Governments and enterprises in Asia Pacific countries are investing significantly more in biotechnology research, spurring research growth. The Japanese government and non-profit organizations have actively promoted biotechnology research in Japan, providing financial support for projects related to medicine and life sciences. This has encouraged scientists to investigate transcriptomics as a potential growth path. Furthermore, the growing attention paid to APAC countries due to their cost-effective manufacturing service is expected to present growth opportunities for manufacturers. Furthermore, strategic activities like partnerships will further promote this region's development. In January 2020, Genetron Holdings Ltd. inked a partnership agreement with Thermo Fisher Scientific that will expand precision cancer monitoring and diagnosis within China's public hospitals.
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Scope of the Report
| Report Attribute | Details |
| Market Value (2022) | USD 9.58 billion |
| Market Size (2032) | USD 34.37 billion |
| CAGR (from 2023 to 2032) | 14% |
| North America Revenue Share | 41% |
| Historic Period | 2016 to 2022 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2032 |
Market Drivers
- The Demand for RNA-based Therapeutics is on the Rise: These drugs are increasingly being used to combat diseases like cancer, genetic disorders, and infectious illnesses. The development of new RNA drugs is fuelling this growth in the RNA market.
- Advancements in RNA Sequencing Technologies: As RNA sequencing technologies advance rapidly, they generate vast amounts of RNA data. This has created a need for products and services that can handle and analyze this information, ultimately driving growth within the RNA market.
- Government Funding of RNA Research: Governments around the world are investing in RNA research, leading to the development of new technologies and products in this market.
- Collaboration between Academic and Industry Players: Academic and industry players are increasingly joining forces to develop novel RNA-based products and technologies, which are fuelling the growth of the RNA market by speeding up innovation and improving product quality.
- Growing Demand for Personalized Medicine: RNA-based products and technologies are increasingly being employed in personalized medicine, which involves tailoring medical treatments to individual patients based on their genetic makeup. This has driven the growth of the RNA market by stimulating demand for RNA-based diagnostics and therapeutics.
Market Restraints
- High Development Costs: Researching and developing RNA-based therapeutics and technologies can be costly, and clinical trials often have high failure rates. This may limit the development of new products and technologies within the RNA market.
- Regulatory Challenges: RNA-based therapeutics and technologies require regulatory approval, which can be a lengthy and complex process. The regulatory obstacles and compliance demands may impede the development and commercialization of RNA products.
- Limited Understanding of RNA Biology: While RNA research has made great strides in recent years, much remains to be discovered about its structure and function. This could hinder the development of innovative RNA-based products and technologies.
- Competing Technologies: RNA-based therapeutics and technologies are facing competition from other technologies such as gene therapy, small molecules, and antibodies. This may restrict the growth of the RNA market by decreasing demand for RNA-based products and services.
- Intellectual Property Challenges: As RNA research develops rapidly, there are challenges associated with protecting intellectual property. This could obstruct the creation of new RNA-based products and technologies by decreasing incentives for companies and researchers to invest in this area.
Market Opportunities
- Development of New RNA-Based Therapeutics: Recent advances in RNA delivery technology, such as nanoparticle-based delivery systems, offer an exciting prospect for the market. By improving the efficiency and specificity of these therapies, researchers hope to discover treatments for many diseases with RNA.
- Expansion of RNA Sequencing Services: The expansion of RNA sequencing services represents an exciting prospect in the RNA market. With increased access to sequencing data, demand is growing for services that can effectively handle and analyze it, creating opportunities for companies providing these services as well as related bioinformatics tools.
- Personalized Medicine: Personalized medicine, which involves tailoring medical treatments to individuals based on their genetic makeup, presents an exciting opportunity in the RNA market. RNA-based diagnostics and therapeutics can play a pivotal role in personalized medicine by enabling treatments tailored to each patient's genetic profile.
- Investment Opportunities in RNA Research: Investments in RNA research offer an exciting prospect for the market. Governments, academic institutions, and private companies alike are investing in this area, creating numerous chances for collaboration and the development of new RNA-based products and technologies.
- Integration of AI and Machine Learning: The convergence of artificial intelligence (AI) and machine learning presents a major opportunity in the RNA market. Combining their respective strengths, these technologies can be employed to analyze vast amounts of RNA sequencing data, leading to new therapeutic targets based on RNA as well as more precise treatments that utilize fewer resources.
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Report Segmentation of the RNA Analysis Market
Product Type Insight
The kits and reagent segment holds a 57% market share. This segment includes various reagents and kits used for RNA analysis, such as RNA isolation kits, RNA amplification kits, and sequencing kits. The demand for these reagents and kits is expected to grow rapidly due to the rising demand for RNA sequencing and transcriptome analysis. Companies such as Qiagen N.V., Bio-Rad Laboratories Inc., and New England Biolabs Inc. are some of the prominent players in this space. This segment encompasses various instruments used for RNA analysis like PCR instruments, microarrays, sequencers, and more. The instruments segment dominates the market due to rising demand for advanced technologies in RNA analysis and an expanding adoption of next-generation sequencing (NGS) technologies. Companies such as Illumina Inc., Thermo Fisher Scientific Inc., and Pacific Biosciences of California Inc. are key players in this sector which offers various reagents and kits for RNA analysis like RNA isolation kits, RNA amplification kits, and sequencing kits. The reagents and kits segment is expected to witness significant growth due to rising demand for RNA sequencing and transcriptome analysis. Companies like Qiagen N.V., Bio-Rad Laboratories Inc., and New England Biolabs Inc. are some of the key players in this space. This market encompasses various RNA analysis services such as sequencing, gene expression analysis, and transcriptome analysis. This space is expected to grow rapidly due to the increasing outsourcing of these types of tasks by biotech and pharmaceutical companies. Companies like Eurofins Scientific SE, GenScript Biotech Corporation, and BGI Group are some of the key players in this space.
Technology analysis
Technology analysis reveals that Real Time-PCR (qPCR) Technology commands the majority share of the market with 44% share. This high share was due to the widespread adoption of PCR for COVID-19 diagnostic purposes around the globe. QPCR is an ideal and sensitive method for probing small numbers of transcripts across a wide range of samples, providing high sensitivity detection of SARS-CoV-2, evaluation of viral RNA in various clinical samples, identification of mutations associated with SARS-CoV-2, as well as evaluation of anti-SARS drugs. Thus, the COVID-19 pandemic served as a stimulus for industry growth. Furthermore, quantitative Real-Time PCR is employed to conduct a comparative analysis between transcriptomes from the host and viral samples. Sequencing is expected to see a huge surge in the coming years due to improvements in next-generation and SMRT sequencing technology, as well as several companies providing single-cell RNA sequencing services and the rise of bioinformatics algorithms.
Application Insight
By Application Analysis, The Clinical Diagnostics Segment Dominates The Market With a 37% Market Share. RNA analysis is increasingly being employed in clinical diagnostics to aid diagnosis and prognosis for various diseases. The clinical diagnostics market is expected to expand rapidly due to the rising demand for personalized medicine and the rising adoption of RNA-based diagnostic tools. Companies such as Roche Diagnostics, Thermo Fisher Scientific Inc., and Qiagen N.V. are some of the key players in clinical diagnostics. RNA analysis plays a pivotal role in drug discovery, from target identification and validation to lead optimization and pharmacodynamics and pharmacokinetic studies. The drug discovery segment is projected to grow at an impressive rate due to the increasing demand for novel and effective therapeutics. Companies such as Gilead Sciences Inc., Novartis International AG, and Pfizer Inc. are some of the key players within this space. RNA analysis is widely employed in toxic genomics for the identification of genes related to toxicology and the construction of predictive toxicity models. The toxic genomics segment is expected to experience rapid growth due to rising demand for toxicity testing and the development of safer drugs and chemicals. Competitive transcriptomics is an increasingly popular application of RNA analysis that involves the comparison of gene expression profiles across various organisms or conditions. The competitive transcriptomics segment is expected to experience rapid growth due to rising demand for comparative genomics and the identification of evolutionary and ecological factors. Companies such as Illumina Inc., Pacific Biosciences of California Inc., and Oxford Nanopore Technologies Ltd. are some of the key players in this space.
End User Insight
By End-User analysis, Government Institutes & Academic Centres segment dominates the market 35% market share. The adoption rate of high throughput technologies for RNA analysis by government institutes and academic centers is driving the segment growth. Transcriptomics applications in drug discovery are fuelling demand across pharmaceutical, biotechnological, pharmaceutical, and clinical diagnostic industries alike. Furthermore, research in drug discovery contributes to market size just like clinical diagnostics research does; for instance, TORNADO-seq was developed in April 2021 - an RNA sequencing-based platform to monitor gene expression for studying cell phenotypes in organoids.
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Market Segmentation
Based on Product Type
- Kits & Reagents
- Instruments
- Services
Based on Technology
- Real Time-PCR (qPCR) Technology
- Sequencing Technology
- Microarray Technology
- Other Technologies
Based on Application
- Clinical Diagnostics
- Drug Discovery
- Toxic genomics
- Competitive Transcriptomics
Based on End-User
- Government Institutes & Academic Centres
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations (CROs)
- Hospitals & Clinics
- Other End-Users
By Geography
- North America
-
- The US
- Canada
- Mexico
- Western Europe
-
- Germany
- France
- The UK
- Spain
- Italy
- Portugal
- Ireland
- Austria
- Switzerland
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
-
- Russia
- Poland
- The Czech Republic
- Greece
- Rest of Eastern Europe
- APAC
- China
- Japan
- South Korea
- India
- Australia & New Zealand
- Indonesia
- Malaysia
- Philippines
- Singapore
- Thailand
- Vietnam
- Rest of APAC
- Latin America
-
- Brazil
- Colombia
- Chile
- Argentina
- Costa Rica
- Rest of Latin America
- Middle East & Africa
-
- Algeria
- Egypt
- Israel
- Kuwait
- Nigeria
- Saudi Arabia
- South Africa
- Turkey
- United Arab Emirates
- Rest of MEA
Competitive Landscape
The industry is highly fragmented, featuring numerous small, mid, and large players that compete by adopting organic growth strategies such as product development and regional expansion to expand their market presence. For instance, in May 2021 Bio-Rad Laboratories Inc. released the SEQuoia RiboDepletion Kit for next-generation (NGS) sequencing which can improve assessment efficiency by eliminating irrelevant rRNA fragments from RNA sequencing libraries. Some key players in the global RNA analysis market include some of the major players include:
- Agilent Technologies, Inc.
- Hoffmann-La Roche AG
- Illumina, Inc.
- QIAGEN
- Thermo Fisher Scientific, Inc.
- Eurofins Scientific
- Merck KGaA
- Bio-Rad Laboratories, Inc.
- Pacific Bioscience of California, Inc.
- Affymetrix, Inc.
- Danaher Corp.
- Promega
- Other Key players
Recent Development of the RNA Analysis Market
- June 2022: Bio-Rad Laboratories introduced their SEQuoia Express Stranded RNA Library Prep Kit, offering biopharmaceuticals and analysis scientists an easy-to-use solution for creating robust libraries to facilitate efficient RNA-Seq workflows for comprehensive transcriptome profiling. Furthermore, this kit offers cost efficiency and automation compatibility - two essential qualities in today's library era.
- Mar-2022: Illumina released TruSight Oncology Comprehensive, a single test that evaluates multiple tumor genes. This kit encompasses mutations as well as current and emerging biomarkers linked to European Society for Medical Oncology guidelines, clinical trials, and drug labels in order to maximize the chances of discovering actionable data from each patient's biopsy.
- December 2021: Eurofins Technologies released the GSD Nova Type Detect + Select K417N SARS-CoV-2 test kit as an efficient and cost-effective method to verify Omicron variants before specimens undergo whole genome sequencing. This new kit promises an accurate solution for this task.
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