Transcriptomics Technologies Market REPORT OVERVIEW
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The transcriptomics technologies market size is expected to be USD 4.596 billion in 2022 the market is projected to touch USD 7.708 billion by 2030, exhibiting with a growing Compound annual growth rate (CAGR) of 9.0% during the forecast period.
A transcriptome is a collection of all the transcripts found in a single cell or in a population of cells. All ribonucleic acid (RNA) molecules, including messenger RNA (mRNA), ribosomal RNA (rRNA), transfer RNA (tRNA), and other non-coding RNA molecules, are included in transcripts.The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Transcriptomics is the analysis of all RNA transcripts present in a population of cells in order to look at the gene expressions. The study of transcriptomics includes all RNA-related information. The sector is expanding as a result of increased technical development efforts in the field of transcriptomics and an increase in funding from several public and private entities. For those in the sector, the COVID-19 epidemic has opened up a wealth of options. The nCounter Host Response Gene Expression Panel, for instance, was introduced by NanoString Technologies, Inc. in June 2020 to analyze the immune system's response to COVID-19 viral research.
COVID-19 Impact: Covid Propelled the Market Demand For Transcriptomics Technologies
The global market for transcriptomics technology is predicted to increase favorably as a result of the COVID-19 pandemic. The use of transcriptomics is growing because to a rise in the manufacture of COVID-19 vaccines like Covishield and Covaxin. For instance, NanoString Technologies Inc. introduced new tools to analyze the immune response in the investigation of the COVID-19 illness in June 2020. Thus, it is projected that the market for transcriptomics technologies would be driven by the growth in the creation of novel medications and instruments over the forecast period.
LATEST TRENDS
"Rise in Automation and Demand for Personalized Medicines to Propel the Market Demand"
Automation has risen as a result of technology upgrades and breakthroughs, and these traits are relevant to methods for transcriptome analysis like SAGE and amplification of nucleic acids. The rise and use of RNA interference technologies and sequencing will be further aided by the application of the aforementioned technologies in the investigation of gene expression.
Next-generation sequencing is a major player in the technology sector as a result of the rise in demand for whole RNA sequencing and targeted resequencing.
During the forecast period, it is anticipated that rising demand for personalized medicines and quickening advancements in healthcare infrastructure will fuel the growth of drug discovery and research, which will ultimately propel the growth of the global transcriptomic market. The global transcriptomics market is expected to grow as a result of an increase in biopharmaceutical companies and rising R&D spending.
Transcriptomics Technologies Market Segmentation
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- By Type Analysis
By type, market is segmented into microarrays, polymerase chain reaction (PCR), gene regulation technologies and next generation sequencing (NGS). The microarrays segment will dominate the market in the coming years.
- By Application Analysis
Based on applications, the market is classified into clinical diagnostics, drug discovery and research, bioinformatics and comparative transcriptomics studies. The clinical diagnostics segment will lead the global share through 2030.
DRIVING FACTORS
"Research and Development of the Market to Boost the Demands"
The prevalence of illnesses including diabetes, hepatitis B, and oncological conditions throughout the world highlights the need for medication research and development and is a key driver of the market for transcriptomics technology.
"Increase in the Frequency of Genetic Alterations to Augment the Market"
Another key factor influencing the growth of the market for transcriptomics technologies is the increase in the frequency of genetic alterations occurring in the world's population as a result of the existence of carcinogens.
The market for transcriptomics technology is expanding in tandem with the government's increasing investment in genomic research. Additionally, the future need will be fueled by the use of transcriptomics in the field of toxicogenomic.
RESTRAINING FACTORS
"Lack of Effective Data Analysis Tools to Hamper the Market Demand"
The market's expansion is anticipated to be hampered by a lack of effective data analysis tools. Concerns concerning data complexity after transcript analysis using sequencing platforms have grown as a result of ongoing technical advancements. One of the main challenges in transcriptome research is complex data handling. With improvements in the RNA analysis techniques that come after, the data complexity rises.
Additionally, it is anticipated that the market growth would be constrained by the difficult procedures required to isolate RNA from the target tissue.
Transcriptomics Technologies Market REGIONAL INSIGHTS
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"North America to Hold Largest Global Transcriptomics Technologies Market Share"
In the area of North America, the U.S. controls the market for transcriptomics technology. Increased income from R&D operations in the pharmaceutical and biotechnology industries is one of the drivers behind the United States' significant market share.
Therefore, North America is expected to see the greatest growth throughout the projection period of 2021–2031, as a result of the existence of previously underutilized market potential, increased acceptability of spending, and supportive government efforts.
Through a number of entities, including not-for-profit organizations like Genome Canada, the Canadian government has provided major financing for the development of transcriptomics technology, and as a result, Canada has become a prominent regional player in the North American market.
Over the anticipated timeframe, a profit will likely be made from the growth of the European transcriptomics technologies market. This development may be attributed to the existence of an expanding number of important participants as well as the opportunistic attitude to new investments in the field of transcriptomics technology.
Moreover, growing R&D spending in this area is expected to spur the development of cutting-edge innovations in the market for transcriptomics technologies and will be responsible for the expansion of the market for those technologies globally.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage "
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead in the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolio.
List of Market Players Profiled
- Affymetrix, Inc. (U.S.)
- Thermo Fisher Scientific (U.S.)
- Agilent Technologies (U.S.)
- F-Hoffmann La Roche Ltd. (Switzerland)
- Illumina, Inc. (U.S.)
- Life Technologies Corporation (U.S.)
- Qiangen N.V. (Germany)
- LC Sciences (U.S.)
- Sigma-Aldrich Corp (U.S.)
- Danaher Corp (U.S.)
REPORT COVERAGE
The market research study examines the worldwide market in detail, focusing on important elements such as leading players, product/services or type, and leading end-use applications. Aside from that, the research analyses major advancements and provides insights into lighting market trends. In addition to the causes indicated above, the paper includes a number of other factors that have contributed to recent growth.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 4.596 Billion in 2022 |
Market Size Value By |
US$ 7.708 Billion by 2030 |
Growth Rate |
CAGR of 9% from 2022 to 2030 |
Forecast Period |
2023-2030 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Types & Application |
Frequently Asked Questions
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What value is the transcriptomics technologies market expected to touch by 2030?
Over the research period, transcriptomics technologies market will be reaching USD 7.7085 billion in 2030.
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What CAGR is the transcriptomics technologies expected to exhibit by 2030?
The transcriptomics technologies market is expected to exhibit a CAGR of 9.0% by 2030.
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Which are the driving factors of the transcriptomics technologies market?
Research and development of the market and increase in the frequency of genetic alterations are the driving factors of the transcriptomics technologies market.
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Which are the top companies operating in the transcriptomics technologies market?
LC Sciences, Danaher Corp, Qiangen N.V. and Affymetrix, Inc. are the top companies operating the transcriptomics technologies market.