Transcriptomics Market Outlook 2030:
The transcriptomics market size was valued at $5,790.51 million in 2020, and is estimated to reach $11,397.08 million by 2030, growing at a CAGR of 7.0% from 2021 to 2030. Transcriptomics is the analysis of RNA transcripts which relies on expertise in next generation sequencing technologies that require RNA to be transcribed into complementary DNA for sequencing. It includes different technologies such as microarrays, q PCR. Microarrays are the most common techniques which are used in research laboratories. The q PCR is a quantitative reverse transcription, which is used to detect the presence and quantity of RNA by converting it into cDNA and it is called as reverse transcription which is done by using polymerase chain reaction.
Growth of the global transcriptomics market is majorly driven by surge in demand for personalized medicine, increased pharmaceutical & biotechnology R & D expenditure, government funding for omics, rise in applications of RNA sequencing; and development of new transcriptomics products by large number of key players. High demand for transcriptome in R & D activities and increase in focus on biomarker discovery has led to surge in transcriptome production. As per National Human Genome Research Institute, which is a part of National Institutes of Health (NIH) has participated in two projects that created transcriptome resources for researchers around the world, namely Mamamlian Gene Collection Initiative and the Mouse Transcriptome Project. These two models are important for the study of human biology, which is anticipated to boost the growth of the market.
For instance, NeuGen Technologies Inc. launched Trio RNA Seq that provides highly sensitive end to end transcriptomics solution, which is ideal for use in low abundance transcripts applications. Furthermore, Increase in number of product approvals are expected to provide remunerative opportunities for the expansion of the global transcriptomics market during the forecast period.
Impact Of Covid-19 On Transcriptomics Market (Pre And Post Analysis)
The COVID-19 outbreak is anticipated to have a positive impact on the growth of the global transcriptomics market. Surge in production of vaccines such as Covishield and Covaxin for COVID-19 increase the usage of trascriptomics. For instance, in June 2020, NanoString Technologies Inc. launched new solutions to study the immune response in COVID-19 disease research. Thus rise in development of new drugs and instruments are anticipated to drive the transcriptomics market during the forecast period.
Thus, new innovations by key players and rise in number of product approvals propel the growth of the market. However, lack of skilled professionals is expected to restrict the market growth during the forecast period.
Transcriptomics Market Segmentation
The transcriptomics market is segmented on the basis of type, technology, application, and region. By type, the market is categorized into consumables, instruments, software, and services. Depending on the technology, the market is fragmented into microarrays, q PCR, and sequencing technology.
On the basis of application, it is divided drug discovery, diagnostics & disease profiling, and others.
By Type
Consumables transcriptomics segment holds a dominant position in 2020 and would continue to maintain the lead over the forecast period.
Region-wise, the transcriptomics market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
Segment Review
Depending on type, the consumables segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in R&D activities in the pharmaceutical industry, rise in demand for drug development, and surge in adoption of transcriptomics products. However, the instruments segment is expected to witness considerable growth during the forecast period, owing to increase in number of genetic testing, and rise in number of key players for development of transcriptomics.
By Application
Drug Discovery segment is projected as one of the most lucrative segment.
By technology, the qPCR segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to surge in number of COVID-19 cases, rise in use for genetic testing, and increase in demand for transcriptomics for drug discovery. However, the sequencing technology is expected to witness considerable growth during the forecast period due to increase in new advancements.
By application, the drug discovery segment was the major contributor in 2020, and is expected to maintain its lead during the forecast period, owing to increase in number of product approvals, and rise in demand for drug discovery. However, the diagnostics & disease profiling segment expected to witness considerable growth during the forecast period.
North America garnered the major share in the transcriptomics technologies market in 2020, and is expected to continue to dominate during the forecast period, owing to rise in number of various types of disease diagnosis, presence of key players, development of the healthcare sector, and presence of new transcriptomics products in the region. However, Asia-Pacific is expected to register the highest CAGR of 8.7% from 2021 to 2030, owing to rise in applications of transcriptomics and development of healthcare infrastructure.
The key players that operate in the global transcriptomics market include Agilent Technologies Inc, Bio-Rad Laboratories, F-Hoffmann La-Roche, Fluidigm Corporation, General Electric Company, Illuminia Inc., Merck & Co. Inc, Promega Corporation, QiagenInc, and ThermoFisherScientific.
By Region
Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 8.7% during the forecast period.
Key benefits for stakeholders
The study provides an in-depth analysis of the transcriptomics market, and the current trends & future estimations to elucidate imminent investment pockets.
It presents a quantitative analysis of the market from 2021 to 2030 to enable stakeholders to capitalize on the prevailing market opportunities.
Extensive analysis of the market based on procedures and services assists to understand the trends in the industry.
Key players and their strategies are thoroughly analyzed to understand the competitive outlook of the transcriptomics market.
Transcriptomics Market Report Highlights
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Analyst Review
This section provides opinions of top level CXOs. According to the insights of CXOs, increase inlarge number of research projects are undertaken to prove the therapeutic and diagnostic potential of RNAs, which in turn increases the demand for RNA tools and services. In addition, the rise in incidence of chronic disorders, and advancements in new technologies are all attributed to propel growth of the transcriptomics market.
CXOs further added greater consumer awareness, demand for preventive healthcare services, escalated demand for healthcare services from overall population, and new advancements that are predicted to broaden transcriptomics in clinical applications and increase the number of product approvals contributes toward growth of the market.
The market gains interest of healthcare companies, owing to focus on preventive facilities provided to patients for diagnosis of various diseases. This leads to increase in utilization for transcriptomics instruments; thus is a great opportunity that further propels growth of the market.
North America is expected to witness highest growth, in terms of revenue, owing to rise in genetic testing, presence of key players, and advancements in healthcare investments. Asia-Pacific was the second largest contributor to the market in 2020, and is expected to register fastest CAGR during the forecast period, owing to increase in incidences of chronic disorders and unmet needs for advanced technologies for transcriptomics. However, lack of skilled professionals restrain the market growth during the forecast period
The total market value of Transcriptomics market is $ 5,790.51 million in 2020.
The forecast period for Transcriptomics market is 2021 to 2030
The market value of Transcriptomics market in 2021 is $6,207.43 million.
The base year is 2020 in Transcriptomics market
Top companies such as Agilent Technologies Inc, Bio-Rad Laboratories, F-Hoffmann La-Roche, Fluidigm Corporation, General Electric Company, Illuminia Inc., Merck & Co. Inc, Promega Corporation, Qiagen Inc, and ThermoFisher Scientific held a high market position in 2020.
Consumables Transcriptomics segment dominated the global market in 2020, and expected to continue this trend throughout the forecast period due to the technological advancements and new product launch and thus is expected to drive the segment
Increase in prevalence of chronic disorders, and advanced infrastructure for research & development and investments in healthcare is anticipated to drive the market in the forecast period.
North America is projected to account for a major share of the global Transcriptomics market during the forecast period. U.S. dominated the North America rise in investments for new Transcriptomics system launch in the R & D sector due to presence of key players across the country.
Transcriptomics is Transcriptomics is the collection and study of RNA present in different types of cells and tissues in an organism.
Transcriptomics are used for discovery of basic gene expression patterns, determination of drug-induced toxicity in adverse drug reactions, and other uses in the medical field.
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