Transcriptomics is primarily the study of the complete set of transcripts (RNA molecules) provided by a particular organism. In the present scenario, the transcriptome analysis of varied organisms is facilitated with the aid of technologically advanced platforms. Transcriptomics technologies make use of empirical and theoretical understandings from the pharmaceutical and biotechnology industry to back its healthcare and medical research projects.
In 2012, the global transcriptomics technologies market was worth US$1.65 billion and is estimated to touch US$4.6 billion by the end of 2019, growing substantially at a 15.9% CAGR between 2013 and 2019.
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Unavailability of Efficient Data Analysis Tools to Hamper Growth of Global Transcriptomics Technologies Market
The increasing adoption of personalized medicine for consumers and manufacturers and technological advancements in transcriptomics are some of the factors expected to boost the demand for transcriptomics technologies in the near future. Moreover, the development of tools and services in bioinformatics is one of the biggest opportunities for the players operating in this market. However, lack of efficient data analysis tools is expected to curb the growth of the global transcriptomics technologies market in the coming years.
On the basis of technology, the global transcriptomics technologies market has been segmented into gene regulation technologies, polymerase chain reaction (PCR), microarrays, and next generation sequencing (NGS). Most of these technologies are used in varied processes such as medical research, diagnosis of various diseases, drug discovery, and others. Due to the escalating demand for constant advancements in healthcare infrastructure and targeted therapeutics, the transcriptomics technologies market bears profitable commercialization growth prospects.
Huge Investment in Research and Development to Boost Growth of Global Transcriptomics Technologies Market
The global transcriptomics technologies market has been segmented on the basis of application into the segments of bioinformatics, drug research and discovery, clinical diagnostics, and comparative transcriptomics study.
The analytical tools and services of transcriptomics technologies are used to determine novel gene sequences and potential drugs. They are also used to study gene regulation mechanisms and gene expression patterns, which are accountable to trigger the manufacturing and functioning of proteins. The study of the functional and structural aspects of the transcripts present in a particular cell or a cluster of cells is very complicated. Due to this, many biotechnology and pharmaceutical organizations are investing huge amounts in medical research and development to come up with robust policies assuring high reliability and efficiency.
North America Led Global Transcriptomics Technologies Market in 2012
The global transcriptomics technologies market has been geographically segmented into four regions, namely Asia Pacific, North America, Europe, and Rest of the World.
In 2012, North America accounted for the majority share in the global transcriptomics technologies market, holding 35% of the global market in terms of revenue. The dominance of North America can be attributed to the rising awareness about biotechnological research, increased support by the governments of the U.S. and Canada, and the availability of well-equipped research and medical laboratories.
Furthermore, North American countries are taking efforts to improve their healthcare infrastructure and the initiatives in research and development are anticipated to fuel the growth of this market in the near future. On the other hand, Asia Pacific is projected to witness significant growth between 2013 and 2019, owing to its tremendously growing population, due to which major players are starting several production units in the promising region.
Prominent players in the global transcriptomics technologies market include Bio-Rad Laboratories, Inc., Qiagen N.V., Affymetrix, Inc., LC Sciences, LLC, Agilent Technologies, Inc., Thermo Fisher Scientific, Life Technologies Corporation, Danaher Corporation, F. Hoffmann-La Roche Ltd., Sigma-Aldrich Corporation, and Illumina, Inc.
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