Transcriptomics Market by Products (Reagents, Software, Instruments), by Application (Drug Discovery, Clinical Diagnostics, Toxicogenomic), by Technology (Microarray, Polymerase Chain Reaction, Sequencing), by End-User (Pharmaceutical and Biotechnology Companies, CROs, Hospitals & Diagnostic Centers, Academic & Research Institutes) – Global Outlook & Forecast 2022-2030
According to the deep-dive market assessment study by Growth+ Reports, the global transcriptomics market peaked at ~US$ 4.5 billion in 2021. The market is expected to witness a CAGR of ~ 13.50% from 2022 to 2030.
Transcriptomics is the study of the transcriptome which is the entire set of RNA transcripts created by the genome under certain circumstances or in a specific cell, using highly specific scientific methods. The market is influenced by factors such as increased research on new chronic diseases, the rise in the application of RNA sequencing, and funding provided by the government in omics. For instance, the Life Sciences Innovative Manufacturing Funds (LSIMF) Which is a part of global Britain Investments Funds, invested 354 million euros, in March 2022. which will support the entire life science manufacturing. invested £ 60 million in capital grants to produce human medicines (drug substance and drug product) and medical diagnostics and medical technology products.
Research on many chronic diseases needs transcriptomes for genome-level study. Transcriptome profiling has been one of the most widely used approaches to study human diseases at the molecular level in recent years. This technique has found various molecular biomarkers and therapeutic targets for different human diseases. The detection and use of transcriptomic biomarkers to distinguish biological situations or clinical stages is a novel area that has evolved considerably in the past period.
Significant development is observed in the usage of RNA sequencing, as it is becoming a vital approach for transcriptomics study. RNA sequencing truly has revolutionized transcriptome examination, permitting the quantification of gene expression levels and allele-specific expression in single research, as well as the affinity of new genes, splice isoforms, fusion transcripts, and extraordinary research into the world of non-coding RNA. The demand for RNA sequencing in the research field is growing because it uses a highly scientific study to obtain information at the genetic level, although it is highly sensitive to genes that produce output very smoothly when using this technology. RNA sequencing apart from its conventional usage is also deployed to overcome problems occurring due to microarray, such as an absence of command over the pool of transcripts analyzed, and differences occurring due to hybridization. It is possible to sequence and quantifies the transcriptional outputs of individual cells or thousands of samples using RNA sequencing (RNA-seq).
Geographically, the global transcriptomics market is collective in North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). Because of factors such as increased drug discovery research for many chronic diseases such as cancer, high government investments in many new life sciences-based studies, high usage of this technique by many pharmaceutical and biotechnology companies, and the presence of many pharmaceutical and biotechnology companies, North America is expected to dominate the global transcriptomics market. Following North America, the Europe market is also experiencing rapid growth due to rapid development in transcriptomics-based research. For example, the Italian Institute of Technology and the European Molecular Biology Laboratory signed a collaboration contract in April 2021. This agreement is meant to expand their database and make it easier for the parties to share research funds. The Italian Institute of Technology recently launched RNA Program, which focuses on non-coding RNAs. The increased number of new drug discoveries; and rising drug personalization are also paving growth opportunities in Europe. The APAC (Asia Pacific) market is also expected to grow at a significant CAGR due to factors such as growing biotechnology and pharmaceutical companies, high demand for transcriptomic skills in R&D, and expanding base of CROs.
This report entails a thorough quantitative analysis of the transcriptomics market trends from 2022 to 2030. The global Transcriptomics Market has been analyzed from five perspectives: product, application, technology, end-user, and Region. Based on the product it is further categorized into reagents, and software, hardware. According to the application, this market is classified into drug discovery, clinical diagnostics, and toxicogenomics. Based on the end users, it is grouped into CROs, pharmaceutical and biopharmaceutical companies, medical devices companies, and academic & research centers.
Some of the prominent players operating in the global transcriptomics market are Bio-Rad Laboratories Inc., Thermo Fisher Scientific Inc., Agilent Technologies Inc., Illumina Inc., Qiagen N.V., F. Hoffman La Roche Ltd., Eurofins Scientific SE, Fluidigm Corporation, Merck KgaA, Acobiom and CD Genomics.