NGS-based RNA-seq Marketsize is projected to reach USD 4.2 billion by 2024 from USD 1.7 billion in 2019, at a CAGR of 20.0%. Advantages of RNA-seq over conventional technologies, increasing number of RNA-seq grants, growing number of research activities involving RNA-seq, and rapid growth in precision medicine are the key factors driving the growth of the NGS-based RNA-sequencing market.
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Key Market Players
Illumina (US), Thermo Fischer Scientific (US) and Oxford Nanopore (UK), Agilent Technologies, Inc. (US), BGI (China), PerkinElmer Inc. (US), QIAGEN (Germany), Eurofins Scientific (Luxembourg), F. Hoffmann-La Roche Ltd (Switzerland), Takara Bio Inc. (Japan), GENEWIZ, Inc. (US), Hamilton Company (US), Macrogen (South Korea), Zymo Research (US), and Tecan Genomics, Inc. (Switzerland) among others are the major players operating in the NGS-based RNA-sequencing market.
Illumina (US)
Illumina dominates the next-generation sequencing market with its technologically advanced & innovative platforms and associated sequencing products. The company’s product portfolio includes a wide range of highly interconnected products, including sequencing, genotyping, gene expression, and molecular diagnostic products. Illumina also offers NGS-based RNA sequencing services which further strengthens its market position. Over the past three years, Illumina has launched several products in the market. To sustain continuous product development, the company invests a significant amount of its revenue on R&D expenditure. In 2018, Illumina invested 18.7% of its revenue on R&D. The company also focuses on strategic agreements with leading players in the market to co-develop advanced technologies and strengthen its research & commercialization capabilities. In the past three years, Illumina has entered into agreements with Lundbeck Foundation GeoGenetics Centre (Denmark), KingMed Diagnostics, Genome One (Australia), GeneDx (US), HudsonAlpha (US), among others to serve its customers efficiently. With its strong product portfolio and extensive geographic presence, Illumina is expected to witness high revenue growth in the NGS-based RNA-sequencing market during the forecast period.
Thermo Fisher Scientific (US)
Thermo Fisher Scientific offers an extensive range of products, including analytical instruments, equipment, reagents & consumables, software & services for research, analysis, discovery, and diagnostics. In addition to a robust product portfolio of NGS sample preparation, the company has a substantial geographic presence. The company launched several products in the past three years, including the Oncomine Childhood Cancer Research Assay and the Oncomine Immune Response Research Assay. With its strong product portfolio, continuous research & development, and broad geographic reach, the company is expected to grow in the NGS sample preparation segment, within the global NGS-based RNA-sequencing market.
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North America dominated the NGS-based RNA-sequencing market
North America accounted for the largest share of the market in 2018. The large share of this region is the growing prevalence of target diseases, government support through funds for genomics research, advancements in RNA-Seq products, increasing research on cancer & inherited rare diseases, and the strong presence of key players such as Illumina (US), Thermo Fisher (US), and Agilent Technologies (US) in this region.
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