NGS-Based RNA-Sequencing Market to Reach USD 4.2 billion by 2024
This report aims to provide detailed insights into the NGS-based RNA-sequencing market. It provides valuable information on the type, procedure, application, and region in the market. Furthermore, the information for these segments, by region, is also presented in this report. Leading players in the market are profiled to study their product offerings and understand the strategies undertaken by them to be competitive in this market.
Key Factors Driving Market Growth:
Market growth is driven mainly by the advantages of RNA-seq over conventional technologies; an increasing number of RNA-seq grants; rising number of research activities involving RNA-seq; and rapid growth in precision medicine market.
Expected Revenue Growth:
The NGS-based RNA-sequencing industry size is projected to reach USD 4.2 billion by 2024 from USD 1.7 billion in 2019, at a CAGR of 20.0% during the forecast period.
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The expression profiling analysis segment accounted for the largest share of the NGS-based RNA-sequencing industry, by application, in 2018
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 2018, the expression profiling analysis segment accounted for the largest share of the RNASequencing Market. The dominant market position of this segment is attributed mainly to the increasing prevalence of metabolic disorders, multiple sclerosis, and other diseases. These factors will continue to propel the demand for expression profiling analysis to provide specific treatment options in the RNA Sequencing market during the forecast period.
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The nanopore segment is expected to register the highest growth in the NGS-based RNA-sequencing market, by type, during the forecast period
Based on technology, the NGS-based RNA-sequencing industry is segmented into sequencing by synthesis, ion semiconductor sequencing, single molecular real-time sequencing, and nanopore sequencing. Nanopore sequencing technology registers the highest growth rate in the market as it is the only sequencing technology with direct RNAsequencing capabilities and facilitates sequencing of full-length RNA strands and modified RNA nucleotides using a simple library prep, without the need of conversion to double-stranded DNA.
North America dominated the NGS-based RNA-sequencing market
North America accounted for the largest share of RNA Sequencing 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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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. among others are the major players operating in the NGS-based RNA-sequencing market.
Illumina dominates the RNA 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.