Newark, Oct. 19, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global transcriptomics market is expected to grow from USD 6.6 billion in 2022 to USD 11.85 billion by 2030, at a CAGR of 7.6 % during the forecast period 2022-2030.
The number of PCR applications is rising in the biotechnology industry, which is expected to drive market growth. The growth of applications for transcriptomics, such as drug discovery, and advancements in the field of transcriptomics, such as the widespread use of RNA sequencing, are expected to drive the transcriptomics market. Additionally, increased funding and grants from numerous private and public organizations have accelerated industry expansion. Globally, there were approximately 19.2 million new instances of cancer and 9.95 million cancer-related deaths, according to GLOBOCAN 2020.
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This patient base's quick expansion is probably going to be beneficial for the market's growth. In illnesses and diagnostics, numerous transcriptomics market firms are constantly working to develop and introduce new tools and methodologies. For instance, in October 2021, Ambry Genetics (Ambry) introduced the transcriptomic test +RNAinsight.
Competitive Landscape:
To enhance their market position in the global transcriptomics market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
● In May 2022, ResolveOME's Early Access Program (EAP) was introduced by BioSkryb Genomics. The entire genome and full-length mRNA transcripts of the entire transcriptome are amplified from the same cell using this integrated, single-cell approach.
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Market growth and trends:
Next-generation sequencing (NGS), also known as high-throughput sequencing, is used for DNA and RNA analysis. Next-generation sequencing (NGS) has revolutionized the detection of genetic disorders and empowered doctors to provide even more in-depth clinical insights. RNA sequencing allows for a more thorough examination and resolution of the dynamic character of the transcriptome. Sample preparation, sequencing, and data analysis have all been dramatically altered by recent developments in RNA sequencing. This is useful for examining the transcriptome profiles and determining if specific physiological and pathological factors can be accounted for, propelling the market's growth. However, the costly infrastructure and lack of tools are expected to restrain the market's growth. Furthermore, the lack of efficient bioinformatics tools challenges the market's growth.
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Key Findings
● In 2022, the consumable segment dominated the market with the largest market share of 43% and revenue of 2.8 billion.
The product type segment is divided into instruments, consumables, reagents, and software. In 2022, the consumable segment dominated the market with the largest market share of 43% and revenue of 2.8 billion. For library preparation, target enrichment, and sequencing, panels and kits are available in the transcriptomics market. RNA analysis kits are designed especially for transcriptomics usage and are relatively more expensive than those available for NGS sequencing propelling the segment's growth.
● In 2022, the NGS segment accounted for the largest share of the market, with 47% and a market revenue of 3.1 billion.
The technology segment is divided into NGS, microarrays, and sanger. In 2022, the NGS segment accounted for the largest share of the market, with 47% and market revenue of 3.1 billion. Researchers can utilize next-generation sequencing to study the genome's architecture and transcriptome in cells with the advent of low-cost, high-quality genome sequencing. Researchers could use improved sequencing platforms with long-read technology to produce reliable and affordable sequence data.
● In 2022, the drug discovery segment accounted for the largest share of the market, with 32.8% and a revenue of 2.1 billion.
The application segment is divided into drug discovery, toxicogenomics, comparative transcriptomics, and clinical diagnostics. In 2022, the drug discovery segment accounted for the largest share of the market, with 32.8% and a revenue of 2.1 billion. The market may expand with the aid of the high throughput methodologies needed for finding therapeutic targets to promote drug development. The industry has also grown due to novel techniques, like high-throughput RNA sequencing and microarrays, in clinical and pharmaceutical research.
● In 2022, the CROs segment accounted for the largest market share, with 29.6% and a market revenue of 1.9 billion.
The end-user segment is divided into CROs, academic & research institutes, hospitals, and pharmaceutical & biotechnology companies. In 2022, the CROs segment accounted for the largest market share, with 29.6% and a market revenue of 1.9 billion. CROs provide accessible spaces for businesses and academia to investigate the creation of innovative drugs at a fair price propelling the segment's growth.
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Regional Segment Analysis of the Transcriptomics Market:
● North America (U.S., Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
● Asia-Pacific (China, Japan, India, Rest of APAC)
● South America (Brazil and the Rest of South America)
● The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, North America emerged as the largest market for the global transcriptomics market, with a market share of around 37.9% and 2.5 billion of the market revenue in 2022. The expansion of academic and governmental funding for genomics and proteomics research, the high funding levels for life sciences research, the high R&D spending in the biopharmaceutical industry, and the increased uptake of cutting-edge technologies in North America are all factors that contribute to the market's growth.
Key players operating in the global transcriptomics market are:
● Pacific Biosciences of California Inc.
● Thermo Fisher Scientific Inc.
● Agilent Technologies Inc.
● Illumina Inc.
● QIAGEN
● Bio-Rad Laboratories Inc.
● Takara Bio Inc.
● PerkinElmer Inc.
● Fluidigm Corporation
● 10X Genomics
● NanoString
● Becton
● Dickinson and Company (B.D.)
● Bio-Techne
● Cytiva
● BioSypder Inc.
● ANGLE plc
● Menarini Silicon Biosystems.
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global transcriptomics market based on the below-mentioned segments:
Global Transcriptomics Market by Product Type:
● Instruments
● Consumables
● Reagents
● Software
Global Transcriptomics Market by Technology:
● NGS
● Microarrays
● Sanger
Global Transcriptomics Market by Application:
● Drug Discovery
● Toxicogenomics
● Comparative Transcriptomics
● Clinical Diagnostics
Global Transcriptomics Market by End-User:
● CROs
● Academic & Research Institutes
● Hospitals
● Pharmaceutical & Biotechnology Companies
About the report:
The global transcriptomics market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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