NGS-Based RNA-Sequencing Market is Expected to Undergo a CAGR of 19.90% by 2029
Data Bridge Market Research analyses that the NGS-based RNA-sequencing market which was USD 2.44 billion in 2021, would rocket up to USD 10.42 billion by 2029, and is expected to undergo a CAGR of 19.90% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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NGS-based RNA-seq is widely employed for sophisticated and comprehensive genomic insights in both standard and non-traditional applications. The growing demand for better sequencing-based diagnostics has fueled the development of novel sequencing technologies. As a result, demand for technologies like high-throughput sequencers and portable units has skyrocketed. The market for NGS-based RNA-seq is increasing due to a number of causes, including technological developments in RNA-seq products, the advantages of RNA-seq over microarray technology, rapid expansion in research activities, an increase in RNA-seq awards, and a high need for precision medicine.
The term “next-generation sequencing,” sometimes known as “high-throughput sequencing,” refers to a variety of current sequencing technologies. In the future years, the market is likely to rise due to an increased focus on genetic studies and gene-based medicinal technologies.
NGS-Based RNA-Sequencing Market Dynamics
Increasing R&D activities
Increased research activity, rising demand for precision medicine, and growing benefits of RNA-Seq In the projected period of 2022–2029, the increasing number of RNA-Seq grants is expected to boost the growth of the NGS-based RNA-sequencing market. Increasing levels of investment in cancer research as well as the agriculture sector, on the other hand, will propel the NGS-based RNA-sequencing market forward over the projection period.
Demand of NGS sequencing
The demand for next-generation sequencing technology increased dramatically after its launch. It is widely utilised in both traditional and non-traditional applications to obtain advanced and comprehensive genetic insights. The growing demand for enhanced sequencing-based diagnostics has fueled the development of brand-new sequencing technologies. As a result, equipment like robust high-throughput sequencers and portable units have exploded in popularity.
Technological advancements in sequencing platforms
Continuous advancements in sequencing technology have allowed for the development of efficient, portable, and easy-to-use NGS sequencers that give speedy and exact results while minimising turnaround times. As a result, leading companies are continually focused on investing in research activities for new product development to improve their positions in this high-growth industry.
In recent years, advances in next-generation sequencing, like paired-end (PE) sequencing, have enabled library preparation to produce twice as many reads simultaneously. Sequencing both ends of DNA fragments in the library and aligning forward and reverse reads as reading pairs are used in this procedure. Sequences with more accurate read alignment and, hence, the ability to detect indels, which is not achievable with single-read data, have also been enabled by the approaches. The paired-end strategy is the most modern and well-liked technique among the researchers.
In the forecast period, the lack of qualified specialists, lack of diagnostic testing standards, and instability of RNA under normal settings are anticipated to hamper the expansion of the NGS-based RNA-sequencing market. Furthermore, the rise of service provider companies that have joined the market and are offering next-generation sequencing at a lower cost.
This NGS-based RNA-sequencing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the NGS-based RNA-sequencing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Covid-19 impact on NGS-Based RNA-Sequencing Market
Several researchers have used next-generation sequencing as an exploratory tool in the fight against the COVID-19 pandemic. In order to keep up to speed on infection dynamics and viral pathogenesis of the SARS-CoV-2 virus, accurate RNA sequencing is required. The research was conducted to better comprehend the virus’s ever-changing features and epidemiology across diverse countries using single-cell RNA sequencing, stranded RNA sequencing, and ultra-low input RNA sequencing. Based on a genome-wide RNA sequencing dataset, a detailed research of the SARS-CoV-2 virus was carried out in order to discover the molecular mechanisms and hub genes. This has considerably enhanced clinical research and development activities using NGS as the foundation for innovation. Thus, in the context of the ongoing pandemic, the NGS-based RNA-Sequencing market is projected to be positively impacted by COVID-19.
Some of the major players operating in the NGS-based RNA-sequencing market are:
Illumina Inc. (US)
Thermo Fischer Scientific Inc. (US)
Oxford Nanopore Technologies plc (UK)
Agilent Technologies, Inc. (US)
PerkinElmer Inc. (US)
Eurofins Scientific (Luxembourg)
F. Hoffmann-La Roche Ltd (Switzerland)
Takara Bio Inc. (Japan)
GENEWIZ, Inc. (US)
Hamilton Company (US)
Macrogen Inc. (South Korea)
Zymo Research Corporation (US)
Tecan Trading AG (Switzerland)
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