Dublin, April 20, 2023 (GLOBE NEWSWIRE) -- The "Transcriptomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Component (Instruments, Consumables, Software & Services), By Technology, By Application, By End User, By Region and Competition" report has been added to ResearchAndMarkets.com's offering.
The global transcriptomics market is anticipated to witness impressive growth during the forecast period.
This can be ascribed to the growing application of RNA sequencing and NGS for the diagnosis of genetic illness in developing countries. Additionally, growing initiatives and investments by government organizations for developing new technology, with the introduction of new microarray technology, have significantly increased the demand for transcriptomics across different parts of the globe.
Additionally, the rising adoption of new technology and growing demand for personalized medicine for treatments are further expected to increase the demand for transcriptomics, thereby fuelling the market growth through 2028.
Furthermore, the increasing number of biopharmaceutical companies and growing expenditure on research and development are further expected to increase the demand for transcriptomics, thereby supporting market growth. Every 4 1/2 minutes, a baby is born with a birth defect in the United States every year, and it affects 1 in every 33 babies born in the United States each year. That translates into about 120,000 babies.
Increasing Demand for Personalized Medicine
Increasing demand for precision medicine & genetic testing and increasing prevalence of conditions such as obesity, hepatitis B, and cancer is expected to boost the market for transcriptomics technology.
Additionally, increasing the incidence of genetic mutations related diseases such as down syndrome due to arising in carcinogens and genetic variants among the population is expected to propel the market growth during the forecast period. The increasing prevalence of cancer is expected to offer lucrative growth opportunities for players in the global transcriptomics technologies market.
For instance, according to the American Cancer Society, in 2019, total estimated 1,762,450 new cancer cases were diagnosed and 606,880 cancer deaths in the U.S. Particularly, next-generation sequencing (NGS) has transformed the diagnosis of genetic illnesses and allowed medical professionals to offer even more thorough clinical insights.
For instance, in April 2020, Indivumed GmbH, an oncology company, launched the Oncology Alliance for Individualized Medicine, an international collaborative alliance to advance personalized medicine in cancer through IndivuType, the company's multi-omics database.
Growing Development of the Healthcare Industry
Due to the increasing technological developments in the research and development sector and the use of RNA sequencing technology in analytical science, the demand for transcriptomics technology is expected to create lucrative growth in the forecast period. Private and government organizations are supporting the research and development sector with the help of pharmaceutical and biotechnology firms which will further boost the market growth in the forecast period.
The funding for cancer research has rapidly increased, and most of the government funding centers for breast cancer and childhood cancer. In 2019, the NIH of the US government invested USD460 million in breast cancer which has increased to USD3.5 billion in the year 2022.
Report Scope:
In this report, global transcriptomics market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
Transcriptomics Market, By Component:
- Instruments
- Consumables
- Software & Services
Transcriptomics Market, By Technology:
- Next-Generation Sequencing
- Polymerase Chain Reaction
- Microarray
- In-Situ Hybridization
- Others
Transcriptomics Market, By Application:
- Drug Discovery & Development
- Cell Biology
- Single Cell Analysis
- Gene Expression
- Others
Transcriptomics Market, By End User:
- Biotechnology & Pharmaceutical Companies
- Academic & Research Institutions
- Others
Transcriptomics Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Turkey
- Egypt
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Clinical Trial Analysis
6. Global Transcriptomics Market Outlook
7. North America Transcriptomics Market Outlook
8. Europe Transcriptomics Market Outlook
9. Asia-Pacific Transcriptomics Market Outlook
10. South America Transcriptomics Market Outlook
11. Middle East and Africa Transcriptomics Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
15. Strategic Recommendations
A selection of companies mentioned in this report includes
- Agilent Technologies, Inc.
- ANGLE plc.
- Bio-Rad Laboratories, Inc.
- Becton, Dickinson, and Company
- Fluidigm Corporation
- BioSypder, Inc.
- Danaher Corporation (Cytiva)
- x Genomics, Inc.
- Pacific Biosciences of California, Inc.
- NanoString Technologies, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/gxhe67
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