Number of pages: 100 | Report Format: PDF | Published date: 21 July, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global transcriptomics market was pegged at ~US$ 4.5 billion in 2021 and is expected to witness a CAGR of 13.50% during the forecast period.
Market Fundamentals
Transcriptomics is the study of RNA molecules in the cell. RNA information is derived from DNA, and it consists of information required to produce proteins. The entire process of producing RNA from DNA is known as central dogma. The key purpose of transcriptomics is to enlist all species of transcripts i.e., small RNA’s, mRNA’s (messenger RNA), and non-coding RNA. The techniques used for the analysis of the genome are microarrays, SAGE (Serial analysis of gene expression), and RNA sequencing. Microarrays quantify a prearranged sequence. SAGE is a tool used for identifying quantitative and detailed data of the gene, whereas RNA sequencing uses high scientific screening to capture all the sequences. Transcriptomics apart from biomedical research is also used in the diagnosis of novel diseases, to identify the start site of transcription, and to recognize the purposes of genes.
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Market Dynamics
The factors contributing to the market growth are the use of transcriptomics in the identification, classification, and treatment of new diseases, personalized medicine becoming the trend in healthcare businesses, the rise in the application of RNA sequencing, and funding provided by the governments in omics.
However, as the market players are launching new and innovative products on this technology, the lack of experienced personnel and the high cost required for this practice can restrict the growth of the global transcriptomics market.
Market Ecosystem
the global transcriptomics market. has been analyzed from five perspectives: Products, Applications, Technology, End-User, and Region.
Global Transcriptomics Market by Product
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According to the product segments, the global transcriptomics market has been grouped into reagents, software, and instruments. Among these, reagents have the largest stake in the market. Reagents are extensively used in next-generation sequencing to produce high-quality library preparation. Factors owed to the growth of this sector are the developing need for decent quality media and the increasing interest of pharmaceutical and biotechnology companies in transcriptomics, government investments in life sciences projects. For instance, according to USA Life Sciences in 2022, the US government financed US$13 billion to industries in vaccine progress, and the FDA enhanced its regulatory evaluation procedure without sacrificing on quality.
Global Transcriptomics Market by Technology
The technologies used for transcriptomics include Sanger and RNA sequencing, SAGE, microarray, and polymerase chain reaction. Sequencing tools help in RNA transcription into complementary DNA sequences. The sequencing segment is also anticipated to witness maximum market growth. This expansion is due to factors such as greater need for novel drug discoveries, need to overcome problems related to microarray and so on. In addition, technological advancements have the potential to significantly expand this market in the coming years.
Microarray technology enables a comprehensive understanding of diseases at the genetic level. It will grow significantly in the future because it is an ideal technology for identifying and understanding many genes.
Global Transcriptomics Market by Application
On the basis of applications, the global transcriptomics market is classified into drug discovery, clinical diagnostics, and toxicogenomics. Among these, the drug discovery segment has accounted highest share in 2021. This dominance of this segment is attributed to factors such as expanding usage of transcriptomics in novel drug discovery, the identification of biomarkers from biological fluids, and widening use of transcriptomics to investigate many genes to gain a better understanding of gene-drug interactions. This interaction of genes and drugs is critical for understanding the physiology of how the drug will affect the body.
Furthermore, transcriptomics is widely used in clinical diagnostics. In the past few years, the importance of RNA sequencing in clinical diagnostics has increased as RNA sequencing has large scope in human health.
Global Transcriptomics Market by Region
The global transcriptomics market is studied in four major regions North America, Europe, Asia Pacific (APAC), and the Rest of the world (RoW). The North America section is expected to dominate the global transcriptomics market owing to factors such as increased research on drug discovery for many chronic diseases like cancer, high investments from governments in many new life sciences-based studies, and high usage of this technique by many pharmaceutical and biotechnology companies, also the presence of many pharmaceutical and biotechnology companies in this region. After North America, Europe is also showing high market growth owing to high development in transcriptomics-based R&D and burgeoning efforts in personalized medicine.
Competitive Landscape
Some of the prominent players operating in the global transcriptomics market include:
Strategic Developments
|
Report Attribute |
Details |
|
Market size value in 2021 |
USD 4.5 billion |
|
Revenue forecast in 2030 |
USD 14.17 billion |
|
Growth Rate |
CAGR of 13.50% from 2022 to 2030 |
|
Base year for estimation |
2021 |
|
Forecast period |
2022-2030 |
|
Segments covered |
Products, Application, Technology, End-User |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
The global transcriptomics market was anticipated to clock US$ 4.5 billion in 2021.
The transcriptomics market is projected to reach US$ 14.17 billion by 2030.
The global transcriptomics market is mainly driven by the rise in the application of RNA sequencing, and funding provided by the governments in omics.
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.
The growth rate of transcriptomics market is CAGR of 13.50% between 2022-2030.
North America held the largest market share of the global transcriptomics market.