CHICAGO, Nov. 5, 2020 /PRNewswire/ -- According to the new market research report "RNA Analysis/Transcriptomics Market by Product (Reagents, Instruments, Software), By Technology (Microarrays, NGS, Sanger), By Application (Clinical Diagnostics, Drug Discovery), By End User (CROs, Hospitals), COVID-19 Impact - Global Forecast to 2025", published by MarketsandMarkets™, the RNA analysis market is projected to reach USD 8.7 billion by 2025 from USD 4.5 billion in 2020, at a CAGR of 13.9% during the forecast period.
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The Growth in this market is primarily driven by the increasing demand for personalized medicine, increasing pharmaceutical and biotechnology R&D expenditure and government funding for omics, and the increasing applications of RNA sequencing in the transcriptomics market. The increasing focus on biomarker discovery and toxicogenomics, along with the increasing interest in outsourcing services, is expected to offer significant growth opportunities for the players operating in the global market.
The COVID-19 outbreak has boosted research activity due to efforts to understand the dynamics of the infection. We estimate that the transcriptomic technologies adoption, along with personalized medicine, will grow at a stable pace in the next five years. Due to the increase in research activity, both the availability of funding for research and the demand for high-throughput technologies are expected to grow.
The reagents/consumables segment is expected to grow at the highest CAGR during the forecast period
Based on product & service, the RNA analysis/transcriptomics market is segmented into reagents/consumables, instruments, software, and services. The reagents/consumables segment is projected to witness the highest growth in the transcriptomics market during the forecast periods (2020-2025). Growth in this segment is driven mostly by the increasing demand for high-quality reagents and the repeated use of media and reagents in transcriptome studies. Additionally, the growing R&D activities in the pharmaceutical industry, growing government investments in the field of life science research, and the increasing research being undertaken with integrated omics studies are contributing to the market for consumables.
The PCR segment is expected to account for the largest share of the transcriptomics market
Based on technology, the market is segmented into microarrays, PCR, sequencing technologies (Sanger sequencing and NGS technologies), and RNAi (gene silencing). The PCR segment accounted for the largest share of the RNA analysis market in 2019. PCR is the most suitable technique for interrogating a relatively small number of transcripts in a large set of samples. The increasing investments being made in the life science research and omics fields are also driving the adoption of the PCR technology for clinical diagnostic.
Toxicogenomics is expected to grow at the highest rate during the forecast period
Based on application, the RNA analysis/transcriptomics market is segmented into clinical diagnostics, drug discovery, toxicogenomics, and comparative transcriptomics. The toxicogenomics application segment is expected to grow at the highest CAGR during the forecast period, primarily due to the increasing research focus on ADE studies and the technological advancements are taking place in the field of omics.
The pharmaceutical & biotechnology end-user segment is expected to account for the largest share of the RNA analysis market
The transcriptomics market, by end-user, is segmented into academic & research institutes, pharmaceutical & biotechnology companies, hospitals & diagnostic centers, and contract research organizations. The pharmaceutical & biotechnology companies segment accounted for the largest market share in 2019. The large share of this segment can be attributed to the increased funding and government support for personalized drug discovery, growing use of omics-technologies, and the increasing use of RNA-seq methods for the discovery of disease as well as therapeutic targets.
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Asia Pacific is expected to account for the highest CAGR for players operating in the market
The Asia Pacific RNA analysis market is expected to grow at the highest CAGR from 2020 to 2025. The increasing investments by governments and industries, growing biotechnology research in APAC countries, and the rising awareness about personalized therapeutics are expected to drive the growth of this regional market during the forecast period. Furthermore, the increasing focus on Asia Pacific countries due to their low-cost manufacturing advantage is expected to provide growth opportunities for manufacturers.
The prominent players in this market are Thermo Fisher Scientific, Inc. (US), Bio-Rad Laboratories, Inc. (US), Merck KGaA (Germany), Agilent Technologies, Inc. (US), Illumina, Inc. (US), QIAGEN N.V. (Netherlands), F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US).
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