Pune, July 25, 2022 (GLOBE NEWSWIRE) -- The global transcriptomics market is expected to clock ~US$ 14.17 billion by 2030 due to phenomenal expansion in biopharmaceutical research and development areas. According to the latest trending report published by growth plus reports titled "Transcriptomics Market by Products (Reagents, Software, Instruments), by Application (Drug Discovery, Clinical Diagnostics, Toxicogenomics), by Technology (Microarray, Polymerase Chain Reaction, Sequencing), by End-User (Pharmaceutical and Biotechnology Companies, CROs, Hospitals & Diagnostic Centers, Academic & Research Institutes) –Global Outlook & Forecast 2022-2030"
The study of RNA molecules in the cell is known as transcriptomics. RNA information is derived from DNA and consists of protein-production information. The identification, classification, and treatment of new diseases, personalized medicine as a prominent trend in the healthcare business, the increasing use of RNA sequencing, and government funding on omics are some of the factors that are driving the market.
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Market Driver
The use of RNA sequencing is increasing significantly across all fields of life sciences, and it is becoming a critical approach for transcriptomics research. RNA sequencing has completely transformed transcriptome analysis, enabling the quantification of gene expression levels and allele-specific expression in a single study, as well as the affinity of new genes, splice isoforms, fusion transcripts, and extraordinary research into the world of non-coding RNA. The demand for RNA sequencing in research field is increasing because it uses a highly scientific study to obtain genetic information, even though it is highly sensitive to genes that produce output very smoothly when using this technology. In terms of rare diseases, RNA sequencing has huge diagnostic efficiency, ranging from rare muscular conditions to mitochondrial disorders such as mitochondrial depletion syndrome, and Kearns-Sayre syndrome. Apart from the traditional applications, RNA sequencing is also used to solve problems caused by microarrays. For example, with a lack of control over the pool of transcripts analyzed, and differences caused by hybridization RNA sequencing can be used to sequence and quantify the transcriptional outputs of individual cells or thousands of samples (RNA-seq).
The government and private sectors are both investing heavily in research and development in life sciences. Transcriptomics technique is used to obtain a precise understanding of the genome or transcriptome, which is required for any novel drug development, disease analysis, or any other research work in which the idea of the genome of a specific organism is important to know because only then can the work be carried out. The funding provided to research institutes or pharmaceutical and biotechnology companies is increasing in number, as after the pandemic, governments of almost every nation is conscious of any kind of disease or epidemic. The funding for cancer research is also increasing most of the government funding is for breast cancer and childhood cancer. In 2019 the NIH of the US government has invested $460 million in breast cancer which has increased to $3.5 billion in the year of 2022.
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Excerpts from ‘By Region’
Geographically, the global transcriptomics market is categorized into:-
- North America
- Europe
- Asia Pacific (APAC)
- Rest of the World (RoW)
Because of factors such as increased research on drug discovery for many chronic diseases such as cancer, high government investments in many new life sciences-based studies, high usage of this technique by many pharmaceutical and biotechnology companies, and the presence of many pharmaceutical and biotechnology companies in this region, the North America region is expected to dominate the global transcriptomics market. Following North America, Europe is also experiencing rapid growth, owing to rapid development in the transcriptomics application areas and growing collaborations. For example, the Italian Institute of Technology and the European Molecular Biology Laboratory signed a collaboration contract in April 2021. This agreement is intended to expand their database and make it easier for them to share research funds. The Italian Institute of Technology also recently launched the RNA program, which focuses on non-coding RNAs and an increased number of new drug discoveries.
Excerpts from ‘Competitive Landscape’
Some of the prominent players operating in the global transcriptomics market are:-
- Bio-Rad Laboratories Inc
- Thermo Fisher Scientific Inc
- Agilent Technologies Inc
- Illumina Inc
- Qiagen N.V
- F. Hoffman La Roche Ltd
- Eurofins Scientific SE
- Fluidigm Corporation
- Merck KgaA
- Acobiom and CD Genomics
Transcriptomics Market Segmentation: -
Products Outlook:
- Reagents
- Software
- Instruments
Application Outlook:
- Drug Discovery
- Clinical Diagnostics
- Toxicogenomics
Technology Outlook:
- Microarray
- Polymerase Chain Reaction
- Sequencing
End-User Outlook:
- Pharmaceutical and Biotechnology Companies
- CROs
- Hospitals & Diagnostic Centers
- Academic & Research Institutes
Report Scope & Segmentation:
| Report Coverage | Details |
| Market Size in 2021 | USD ~ 4.5 billion |
| Revenue forecast in 2030 | USD ~ 14.17 billion |
| Growth Rate | CAGR of ~ 13.50% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | Products, Application, Technology, End-User |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
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