NGS-based RNA Sequencing Market
Number of pages: 100 | Report Format: PDF | Published date: February 09, 2023
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
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Report Attribute |
Details |
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Market Size Value in 2021 |
US$ 2.81 billion |
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Revenue Forecast in 2030 |
US$ 14.36 billion |
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CAGR |
19.85% |
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Base Year For Estimation |
2021 |
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Forecast Period |
2022-2030 |
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Historical Year |
2020 |
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Segments Covered |
Product & Services, Technology, Application, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global NGS-based RNA sequencing market was valued at US$ 2.81 billion in 2021 and is expected to register a revenue CAGR of 19.85% to reach US$ 14.36 billion by 2030.
NGS-based RNA Sequencing Market Fundamentals
The massively parallel sequencing technology known as next-generation sequencing (NGS) provides extremely high throughput, scalability, and speed. NGS can ascertain the nucleotide sequence of entire genomes or specific DNA or RNA areas. The biological sciences have undergone a revolution due to NGS, which enables laboratories to carry out a wide range of tasks and investigate biological systems at a depth as never before possible.
RNA sequencing using NGS is a method of choice for many scientists studying transcriptome. RNA-Seq based on NGS enables researchers to detect known and unknown features in a single assay, allowing them to identify transcript isoforms, gene fusions, single nucleotide mutations, and other traits without being constrained by prior information. Pathogen, plant, animal, and human genomics have all made substantial use of RNA sequencing on the NGS platform as a diagnostic tool. This method ideally can discover larger, more complicated genomic variations quickly and in real-time.
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NGS-based RNA Sequencing Market Dynamics
Advantages offered by NGS-based RNA sequencing include it provides a sensitive and accurate assay of gene expressions, which is increasingly the method of choice for scientists researching the transcriptome. Moreover, RNA sequencing based on NGS captures both known and novel features. Also, it can generate both qualitative and quantitative data, saving the research time. The market is anticipated to be driven by significant factors, including an increase in cancer incidence, government research grants, and technical developments in molecular biology. Moreover, contrarily, large-scale whole-genome sequencing (WGS), one of the most preferred methods in agriculture, forensics, and biofuels, is now affordable and manageable for a typical researcher by NGS. It enables researchers to sequence thousands of genomes in a single year or to study the whole human genome in a single sequencing session.
Technological advancements in NGS by top players are another factor increasing the revenue growth of the global NGS-based RNA sequencing market. For instance, Illumina introduced its iSeq 100 System, a semiconductor sequencing technology. Sequencing by synthesis (SBS) chemistry is combined with a semiconductor chip in semiconductor sequencing technology.
Restraining factors for NGS in clinical microbiology include unexplained antibiotic resistance, the inability to determine which organism is causing sickness, costs, and questionable clinical utility.
NGS-based RNA Sequencing Market Ecosystem
The global NGS-based sequencing market has been analyzed from four perspectives: product & services, technology, application, and region.
NGS-based RNA Sequencing Market by Product & Services
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Based on products & services, the global NGS-based RNA sequencing market is segmented into sample preparation, platforms & consumables, services, and data analysis.
In 2021, the platforms and consumables segment accounted for the highest market revenue share. This expansion is due to the ongoing technological advancements in the biotech industry. The rapidly expanding availability of innovative and affordable RNA sequencing systems, including library preparation, accelerates segment revenue growth.
The services segment is predicted to expand at a high revenue CAGR over the projection period due to the increasing use of services, such as RNA isolation, library preparation, sequencing, and data analysis, as part of the full sample-to-insight solutions.
NGS-based RNA Sequencing Market by Technology
Based on technology, the global NGS-based RNA sequencing market is segmented into sequencing by synthesis, ion semiconductor sequencing, nanopore sequencing, and single-molecule real-time sequencing.
The sequencing by synthesis (SBS) segment accounts for most of the market revenue share. Sequencing by synthesis (SBS) is one of the widely used technology. It provides robust performance, data quality, and unbiased coverage across the genome. Also, SBS chemistry produces extremely precise sequencing using a single base extension and competitive nucleotide addition. Many top players, such as Illumina Inc., use the sequencing by synthesis (SBS) technique in their NGS systems, making it more affordable.
NGS-based RNA Sequencing Market by Application
Based on application, the global NGS-based RNA sequencing market is segmented into De novo, epigenetics, and small RNA.
De novo sequencing is a process of sequencing a novel genome in the absence of an alignment table reference sequence. De novo assembly of RNA-seq data enables the study of the transcriptome, whether data are collected from a single organism or from a mixed sample, as in meta-transcriptomics investigations. NGS-based RNA sequencing in De Novo also helps clarify similar or repetitive regions for accurate de novo assembly. De novo also provides accurate data for the genome mapping of novel organisms.
NGS-based RNA Sequencing Market by Region
Regionally, the global NGS-based RNA sequencing market has been segmented into North America, Europe, Asia Pacific, and the Rest Of The World.
North America accounts for the leading market position. The demand for early diagnosis of diseases, such as cancer, in the region has increased as a result of the development of NGS, which has decreased the cost of genome sequencing, a crucial stage in a gene expression study. The presence of major companies, such as Illumina, Thermo Fisher Scientific, and PerkinElmer, and the increased focus on genome mapping projects have significantly benefited the revenue growth of the NGS industry in North America. According to March 2022 estimates by The National Institutes of Health’s (NIH) Human Genome Research Institute (NHGRI), the organization supports genomic research with such generous funding. According to statistics, the United States has invested more than any other nation in genomics research over the past ten years, amounting to 35% of all public funding received globally.
The rise of the precision medicine industry supports the Europe NGS-based RNA sequencing market. A genomic understanding of the patient’s ailment helps clinicians use precision medicine to create tailored therapy regimens and make treatment decisions. Additionally, the decrease in prices of genome sequencing with the development of rapid, high-capacity whole genome sequencers by many market players in the region is influencing the market revenue growth.
On the other hand, due to increased spending on R&D in developing nations, such as China and India, the Asia Pacific region is anticipated to rise significantly. The need for NGS-based RNA-seq in the region is being driven mostly by increased government initiatives to provide better public health facilities and major investments in cutting-edge diagnostic techniques. Market players in this area are offering new services and solutions supporting the global NGS-based RNA sequencing market. Top players are also investing in Asia Pacific’s growing economies, as doing so would help them strengthen their positions in the market and grow their businesses.
NGS-based RNA Sequencing Market Competitive Landscape
The prominent players operating in the global NGS-based RNA sequencing market are:
Increase in the incidence of cancer, government grants for genetic research, and technical developments in biological research drive revenue growth in the global NGS-based RNA sequencing market.
Agilent Technologies, Inc., Illumina Inc., BGI Group, Eurofins Scientific SE, and Genewiz, Inc. are among the top market players.
The global NGS-based RNA sequencing market is expected to register a revenue CAGR of 19.85% during the forecast period from 2022 to 2030.
*Insights on financial performance are subject to availability of the information in the public domain