What are the Historical Developments and Current Growth Metrics of the NGS-Based RNA-Sequencing Market?
The ngs-based rna-sequencing market has seen considerable growth due to a variety of factors.
• There has been an extraordinary growth in the NGS-based RNA-sequencing market size in the past few years. The projection is that it will escalate from $3.41 billion in 2024 to $4.23 billion in 2025, with a 24.2% Compound Annual Growth Rate (CAGR).
The noteworthy growth during this period can be credited to factors such as genomic research ventures, the decrease in sequencing costs, progression in drug discovery and development, the rise of personalized medicine, and the increasing adoption of NGS.
What Does Future Hold for The NGS-Based RNA-Sequencing Market Size?
The ngs-based rna-sequencing market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the NGS-based RNA-sequencing market is predicted to experience substantial expansion. The market is projected to reach $10.4 billion in size by 2029, with a compound annual growth rate (CAGR) of 25.2%.
Factors contributing to this expansion during the predicted period include clinical diagnostics, global partnerships, acceptable ethical and regulatory structures, agricultural and environmental studies, as well as green genomics. Key trends during the forecast period encompass single-cell rna-sequencing (scrna-seq), spatial transcriptomics, epitranscriptomics, the integration of multi-omics, and sustainable farming practices.
What Are The Key Drivers Fueling Growth In The NGS-Based RNA-Sequencing Market?
The surge in precision medicine is propelling the growth of the NGS-based RNA sequencing market. Precision medicine assists physicians in formulating personalized treatment schedules and making therapeutic choices grounded on a genetic comprehension of the patient's ailment. There's an upswing in precision medicines application in the treatment of grave diseases such as cancer. The role of NGS-based RNA sequencing is crucial in pinpointing the origin of the disease and prescribing relevant precision medicine for cure. A report by the Personalized Medicine Coalition (PMC), a nonprofit organization based in the US, in February 2023, stated that personalized medicines made up 35% of newly sanctioned NMEs in 2021. And with 12 new approvals in 2022, they have consistently retained no less than a quarter of new drug approvals over the last eight years, marking a remarkable upsurge from less than 10% a decade earlier. As the need for precision medicines escalates, the requirement for NGS-based RNA sequencing will correspondingly rise.
What Are The Principal Market Segments In The Global NGS-Based RNA-Sequencing Industry?
The ngs-based rna-sequencing market covered in this report is segmented –
1) By Product And Service: Sample Preparation Products, Sequencing Platforms and Consumables, Sequencing Services, Data Analysis, Storage, and Management
2) By Technology: Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing
3) By Application: Expression Profiling Analysis, Small RNA Sequencing, De Novo Transcriptome Assembly, Variant Calling and Transcriptome Epigenetics
4) By End User: Research & Academia, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Other End Users
Subsegments:
1) By Sample Preparation Products: RNA Extraction Kits, Library Preparation Kits, Reverse Transcription Kits, Quality Control Reagents
2) By Sequencing Platforms And Consumables: Sequencing Instruments, Sequencing Consumables
3) By Sequencing Services: Contract Sequencing Services, Custom Library Preparation Services, Consultation And Experimental Design Services
4) By Data Analysis, Storage, And Management: Bioinformatics Software, Data Analysis Services, Cloud-Based Data Storage Solutions, Data Management Platforms
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Which Emerging Market Trends Are Altering The NGS-Based RNA-Sequencing Sector?
A crucial trend in the NGS-based RNA sequencing market is the formation of strategic partnerships. Businesses are collaborating with NGS-based RNA sequencing firms to broaden their reach into new markets and make the most of each other's assets. For instance, in May 2022, The Biomedical Advanced Research and Development Authority (BARDA), a division of the U.S. Department of Health and Human Services, joined forces with various industry and academic allies. The aim of this partnership is to enhance the ability to rapidly respond to public health crises and develop an innovative diagnostic tool that can detect all known and emerging respiratory RNA viruses within one test.
Who Are the Key Players in the NGS-Based RNA-Sequencing Market?
Major companies operating in the ngs-based rna-sequencing market include:
• Illumina Inc.
• Thermo Fisher Scientific Inc.
• Oxford Nanopore Technologies Ltd.
• Agilent Technologies Inc.
• BGI Group
• QIAGEN N.V.
• PerkinElmer Inc.
• Eurofins Scientific SE
• Bio-Rad Laboratories Inc.
• F. Hoffmann-La Roche Ltd.
• Hamilton Company
• Takara Bio Inc.
• Tecan Trading AG
• GENEWIZ Inc.
• Novogene Corporation
• Macrogen Inc.
• Zymo Research Corp.
• Lexogen GmbH
• Partek Incorporated
• GATC Biotech AG
• Becton
• Dickinson and Company
• Genohub LLC
• BaseClear B.V.
• Genewave SAS
• Otogenetics Corporation
• SeqLL LLC
• GenXPro GmbH
• Genotypic Technology Pvt. Ltd.
What are the Regional Insights into the NGS-Based RNA-Sequencing Market?
North America was the largest region in the NGS-based RNA sequencing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ngs-based rna-sequencing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
