The Expanding Horizons of NGS-Based RNA-Sequencing: Market Insights, Growth Drivers and Opportunities by 2027

The Global NGS-based RNA-seq Marketis projected to reach USD 5.5 billion by 2027 from USD 2.5 billion in 2022, at a CAGR of 17.2% during the forecast period. Factors such as the advantages of RNA sequencing over conventional technologies, the decreasing costs of genome sequencing, increasing government funding to support genomics projects, growing research involving RNA sequencing, growing cancer cases, the increasing application of NGS in cancer research, and rapid growth in personalized medicine are expected to drive the growth of the market.

The key factors propelling the growth of this market are the advantages of RNA sequencing over conventional technologies, the decreasing costs of genome sequencing, increasing government funding to support genomics projects, growing research involving RNA sequencing, growing cancer cases, the increasing application of NGS in cancer research, and rapid growth in personalized medicine.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=102977816

Browse in-depth TOC on “NGS-based RNA-seq Market”

166 – Tables

34 – Figures

208 – Pages

Key Market Players

The prominent players in the NGS-based RNA-sequencing market are

  • Illumina, Inc. (US),
  • QIAGEN N.V. (Netherlands),
  • PerkinElmer, Inc. (US),
  • Eurofins Scientific (UK), and
  • Thermo Fisher Scientific, Inc. (US)

These companies have adopted organic and inorganic growth strategies, such as product and service launches and acquisitions, to maintain their leading positions in the NGS-based RNA-sequencing market.

DRIVER: Decreasing costs of genome sequencing

In the last two decades, advances in genomics have resulted in a substantial reduction in the cost of genomic sequencing. For example, in 2019, the cost of whole human genome sequencing using Illumina’s technology was USD 1,000, compared to USD 14 million in 2008, and is expected to decline further in 2023. Pacific Biosciences of California provides human genome sequencing 10X coverage at ~USD 3,000 and 30X coverage at ~USD 10,000.

The cost of sequencing depends on the genome size, which varies from organism to organism. For instance, targeted sequencing is less expensive than whole-genome sequencing. Apart from genome size, data quality is another major factor associated with variations in the cost of sequencing. Sequencing cost also depends on the average number of times each base in the genome is actually “read” during the sequencing workflow. Due to the reduced costs, several companies are participating in RNA sequencing projects. The cost per raw megabase of RNA sequence has also declined in the last two decades. This has helped sequencing service providers to offer NGS-based RNA sequencing services at lower prices. Consequently, the application of these services is increasing with their affordability.

OPPORTUNITY: Adoption of blockchain technology and cloud computing

The adoption of blockchain technology in healthcare is still nascent. Still, it has a huge potential to transform the current healthcare industry, revolutionize public and private service delivery, and strengthen customer data transparency. The increasing adoption of Blockchain-as-a-Service (BaaS) with significant funding through venture capitalists and initial coin offerings (ICOs) creates growth opportunities. Companies such as Nebula Genomics (US) are working on projects to share genetic information available to researchers securely, and patients are expected to be paid for shared data. The UK-based EncrypGen did similar work in genomic data storage.

Request Free Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=102977816

RNA sequencing platforms & consumables segment held a major share in the NGS-based RNA-sequencing market in 2021.

Based on product, the NGS-based RNA-sequencing market is segmented into sample preparation products, RNA sequencing platforms and consumables, RNA sequencing services, and data analysis, storage, and management. The RNA sequencing platforms and consumables segment is estimated to be the largest segment in this market. The availability of advanced, efficient, and accurate platforms at a low cost has reduced the cost of sequencing overall, thereby boosting the overall pace of sequencing activity. Continuous technological advancements have also contributed to market growth. The growth of the consumables market is tied to the instruments market and is driven by rising research activity, the need for repeated purchases, and the use of consumables in sequencing. On the other hand, the RNA sequencing services segment is expected to grow at the highest CAGR during the forecast period owing to the expansions in NGS-based RNA service portfolios, the increasing number of contracts for RNA-sequencing services, and the rising adoption of advanced NGS platforms by service providers.

Expression profiling analysis application segment dominated the global NGS-based RNA-sequencing market in 2021.

Based on application, the NGS-based RNA-sequencing market is segmented into expression profiling analysis, small RNA sequencing, de novo transcriptome assembly, and variant calling & transcriptome epigenetics. In 2021, the expression profiling analysis segment accounted for the largest share of the global NGS-based RNA-sequencing market. Expression profiling analysis is adopted on a large scale during immunology and stem cell research and neurobiology studies to evaluate cell differentiation and development. Expression profiling analysis is used to analyze patient samples to provide specific treatment options. It also detects complex diseases, such as multiple sclerosis, cardiomyopathy, and metabolic disorders. Thus, the increasing prevalence of metabolic disorders, multiple sclerosis, and other diseases are expected to propel the demand for expression profiling analysis.

Asia Pacific to witness the highest growth in the NGS-based RNA-sequencing market during the forecast period

Geographically, the NGS-based RNA-sequencing market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. The high growth rate of the APAC region can be attributed to a significant focus on R&D, the decreasing costs of NGS products and services, and the increasing focus of major market players on strengthening their presence in the Asia Pacific.

Request 10% Customization: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=102977816

Recent Developments of NGS-based RNA-sequencing Industry:

  • In July 2022, Illumina Inc. (US) launched Illumina DRAGEN v4.0, an accurate and comprehensive secondary analysis platform.
  • In January 2021, Oxford Nanopore Technologies collaborated with NVIDIA to integrate the NVIDIA DGX Station A100 into Oxford Nanopore’s ultra-high-throughput sequencing system, PromethION.
  • In July 2019, Oxford Nanopore Technologies (UK) launched GridION for real-time, on-demand, long-read, direct DNA or RNA sequencing.

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on TwitterLinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: sales@marketsandmarkets.com

Share this post:

Related Posts

Comments are closed.