The market size of the global RNA Analysis Transcriptomics market in the year 2021 is valued at 8.42 billion and is predicted to reach 35.28 billion by the year 2030 at an 17.53% CAGR during the forecast period.
The set of transcripts present in every human is known as transcriptomics, and the term refers to examining every transcript molecule. The RNA analysis transcriptome enables researchers to precisely analyze each gene's gene distribution and function in an organism. It is projected that developments in the field of transcriptomics, such as the widespread application of RNA-sequencing, and an increase in the number of transcriptomics applications, such as drug discovery, will boost the global RNA analysis transcriptomics market. The global RNA analysis transcriptomics market is expanding due to increased financing and grants from numerous corporate and public entities. The market is anticipated to rise as the focus on toxicogenomic and biomarker identification increases and interest in outsourcing services. The global RNA analysis transcriptomics market is expanding due to the rising demand for personalized medicine, increased pharmaceutical and biotechnology R&D spending, government funding for omics, a rise in RNA sequencing applications, and the creation of new transcriptomics products by a significant number of key players. However, during the projection period, the global market is anticipated to be constrained by high capital investment needs and data management problems. Over the expected timeframe, business growth is projected to be significantly impacted by the lack of qualified practitioners and high startup expenses.
The RNA Analysis Transcriptomics market is segmented on the type, technology and application. Based on type, the market is segmented into Consumables, Instruments, Software and Services. Based on technology, the RNA Analysis Transcriptomics market is segmented into Microarrays, qPCR and Sequencing Technology. Based on the application, the RNA Analysis Transcriptomics market is segmented into Drug Discovery, Diagnostics, Disease Profiling and Others.
Based on product, the Consumables segment is accounted as a significant contributor to the RNA Analysis Transcriptomics market.
The market is segmented based on type: Consumables, Instruments, Software and Services. It is predicted that the consumables category will contribute more to global revenues in the market. High-quality reagents are increasingly in demand for transcriptome investigations, and media and reagents are used often. In addition, rising government spending on life science research, advancing omics research and expanding pharmaceutical R&D all contribute to the growth of the consumables industry.
The sequencing technology segment witnessed growth at a rapid rate.
Based on technology, the RNA Analysis Transcriptomics market is segmented into Microarrays, qPCR and Sequencing Technology. The market segment for sequencing technologies is anticipated to develop at the fastest rate during the forecast period. Target identification and drug discovery applications are better suited to RNA sequencing's egalitarian technology and ability to provide direct access to mRNA sequences. RNA sequencing also aids in resolving several problems with microarrays, including bias and variance brought on by inefficient labeling and hybridization. This sector's technological developments are also expected to fuel market expansion.
The North American RNA Analysis Transcriptomics market holds a significant revenue share in the region.
The North American RNA Analysis Transcriptomics market is expected to register the highest market share in revenue in the near future. Growing academic and governmental investments in genomes and proteomics research, high funding levels for life science research, high biopharmaceutical R&D expenditures, and greater uptake of cutting-edge technologies in North America contribute to the expansion. Transcriptomics-related R&D expenditures in the private sector are steadily rising, enabling local market actors to produce customized treatments. The presence of numerous international players in this region is another crucial factor contributing to this market segment's considerable share of RNA analysis transcriptomics. In addition, Asia Pacific is projected to grow rapidly in the global RNA Analysis Transcriptomics market because there are more biotech and pharmaceutical businesses in the region, which will increase demand for transcriptomics technologies and drive up investment in R&D for new pharmaceuticals. Government and business sector investment in biotechnology research is rising in the Asia Pacific. In addition to providing financing for biotechnology research, the Japanese government and non-governmental organizations also aggressively support the nation's medical and life sciences efforts. This motivates scientists to pursue the topic of transcriptomics aggressively.
The key players in the RNA Analysis Transcriptomics market have shifted their focus toward product manufacturing and are initiating significant strategies such as mergers, acquisitions, and joint ventures of major and domestic players to enhance their product portfolio and strengthen their global market footprint. Some major key players in the RNA Analysis Transcriptomics market are 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.