Increasing government funding for omics, rising focus on biomarker discovery, and advancements in the field of transcriptomics are some key factors expected to drive market growth
According to Emergen Research, the global RNA transcriptomics market size was USD 4.46 Billion in 2020 and is expected to reach USD 12.46 Billion in 2028 and register a revenue CAGR of 13.6% during the forecast period, 2021-2028.
Transcriptomics involves the study of the transcriptome, which is the complete collection of RNA transcripts generated by the genome and that originate from specific conditions or cells. This can be achieved through the use of high-throughput methodologies, such as microarray analysis. It provides information about genes and pathways that counteract and respond to both abiotic and biotic environmental stresses. Transcriptome data from various cell types can aid researchers in learning more about what makes a cell type unique, how it works properly, and what changes in normal gene activity can contribute to a human disease. This factor has resulted in increasing investments in R&D activities of transcriptomics studies as it is useful in drug development activities and is expected to drive market revenue growth during the forecast period.
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In addition, increasing need for faster research and testing (due to rising incidence of chronic diseases), growing demand for new and effective drugs (due to outbreak of COVID-19), and rising demand for personalized medicine are some major factors expected to positively impact revenue growth of the market. However, high capital investments on research activities and related equipment, limitations of transcriptomics and unfavorable government regulations on development of new drugs are some factors expected to restrain market growth over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
RNA Sequencing Segment Revenue to Expand at a Rapid CAGR:
RNA sequencing segment is expected to register a rapid revenue CAGR over the forecast period attributed to technological advancements and increasing government and health organization’s investment drug discovery activities. RNA-seq helps to know which genes are active in a cell, how much transcription they have, and when they are active or inactive. This helps scientists to gain a better understanding of a cell’s biology and assess alterations that could indicate disease.
Reagents Segment to Register Significant Revenue Growth:
Reagents segment is expected to register significant revenue growth over the forecast period due to rising use of reagents in basic research, therapeutics, and commercial applications, increasing R&D expenditure by the biotechnology companies and development of various diagnostic tests for COVID-19.
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North America to Account for Largest Revenue Share:
North America is expected to account for largest revenue share in the global market over the forecast period due to increasing focus on proteomics and genomics research, technological advancements in drug development procedures, and favorable government policies on biopharmaceutical R&D. Further, presence of key players in the region and greater adoption of structure-based drug designs are some other factors expected to contribute to market growth in the region.
Major Companies in the Market Include:
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Merck KGaA
- Agilent Technologies, Inc.
- Illumina, Inc.
- GenXPro GmbH
- Fluidigm Corporation
- CD Genomics
- Sequentia Biotech SL
For the purpose of this report, Emergen Research has segmented the global RNA transcriptomics market based on product, technology, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2018–2028)
Technology Outlook (Revenue, USD Billion; 2018–2028)
- Polymerase Chain Reaction
- RNA Sequencing
- RNA Interference
Application Outlook (Revenue, USD Billion; 2018–2028)
- Clinical Diagnostics
- Drug Discovery
- Comparative Transcriptomics
End-Use Outlook (Revenue, USD Billion; 2018–2028)
- Academic & Research Institutes
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
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Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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