April 28, 2023 15:09 ET
New York City, New York, UNITED STATES
New York City, New York, UNITED STATES
New York, April 28, 2023 (GLOBE NEWSWIRE) — Market.us predicts that the RNA Analysis Market will achieve a registered compound annual growth rate (CAGR) of 14% from 2023 to 2032, resulting in a market size exceeding USD 34.37 billion by 2032, up from USD 9.58 billion in 2022.
Transcriptomics is one of the most advanced fields in post-genomic science. Its rapid advancement can be attributed to its increasing applications in life science for capturing polyadenylated RNA. With the development of next-generation high throughput sequencing technology, transcriptome analysis is making strides toward providing a greater understanding of how RNA-based genes are regulated.
In July 2021, a Lithuanian team is developing a droplet-based technique for simultaneous mRNA and microRNA capture and sequencing within one cell. The growing need to analyze a large number of genes in order to better comprehend gene-drug interactions is anticipated to further drive the use of transcriptomics technologies for discovery applications and drug development. For instance, transcriptome profiles of COVID-19 patients have been analyzed to better comprehend their disease prognosis and management. Furthermore, rising demand for personalized medicines is expected to fuel industry growth over the forecast period.
In April 2020, Caris Life Sciences announced the submission of Pre-Market Approval applications for MI Transcriptome CDx to the USFDA. This precision medicine assay includes important companion diagnostic biomarkers; however, data management in transcriptomic research and the lack of effective bioinformatics tools remain major obstacles in this industry.
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Factors affecting the growth of the RNA analysis market
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Top Market Trends of RNA Analysis Market
RNA-based therapeutics are an increasingly popular trend in the RNA market. Recent advances in delivery technology, such as nanoparticle-based delivery systems, are fueling research into new RNA drugs that can target specific tissues and cells. RNA sequencing is a rapidly expanding trend in the RNA market. As more data becomes available from this process, companies that offer RNA sequencing services and related bioinformatics tools will see increased opportunities. Personalized medicine, which involves tailoring medical treatments to each patient based on their genetic makeup, is an emerging trend in the RNA market. RNA-based diagnostics and therapeutics can play a significant role in personalized medicine by enabling treatments tailored to each patient’s genetic profile. Gene editing technologies such as CRISPR-Cas9 are increasingly being employed in the RNA market to manipulate and alter RNA molecules. This presents opportunities for developing novel RNA-based therapeutics and diagnostics. Investments in RNA research are on the rise across governments, academic institutions, and private companies alike. This has created opportunities for collaboration and the development of new RNA-based products and technologies.
Regional Analysis reveals that North America dominates the market with a 41% share. This growth can be attributed to the rapid development of structure-based drug designs, increased emphasis on transcriptomics research, and high investments in biopharmaceutical R&D. Additionally, rising investment in pharmaceutical research and drug development is fuelling the revenue growth of companies throughout this region. Asia Pacific, however, is expected to experience the fastest compound annual growth rate during the forecast period. Governments and enterprises in Asia Pacific countries are investing significantly more in biotechnology research, spurring research growth. The Japanese government and non-profit organizations have actively promoted biotechnology research in Japan, providing financial support for projects related to medicine and life sciences. This has encouraged scientists to investigate transcriptomics as a potential growth path. Furthermore, the growing attention paid to APAC countries due to their cost-effective manufacturing service is expected to present growth opportunities for manufacturers. Furthermore, strategic activities like partnerships will further promote this region’s development. In January 2020, Genetron Holdings Ltd. inked a partnership agreement with Thermo Fisher Scientific that will expand precision cancer monitoring and diagnosis within China’s public hospitals.
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Scope of the Report
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Report Segmentation of the RNA Analysis Market
Product Type Insight
The kits and reagent segment holds a 57% market share. This segment includes various reagents and kits used for RNA analysis, such as RNA isolation kits, RNA amplification kits, and sequencing kits. The demand for these reagents and kits is expected to grow rapidly due to the rising demand for RNA sequencing and transcriptome analysis. Companies such as Qiagen N.V., Bio-Rad Laboratories Inc., and New England Biolabs Inc. are some of the prominent players in this space. This segment encompasses various instruments used for RNA analysis like PCR instruments, microarrays, sequencers, and more. The instruments segment dominates the market due to rising demand for advanced technologies in RNA analysis and an expanding adoption of next-generation sequencing (NGS) technologies. Companies such as Illumina Inc., Thermo Fisher Scientific Inc., and Pacific Biosciences of California Inc. are key players in this sector which offers various reagents and kits for RNA analysis like RNA isolation kits, RNA amplification kits, and sequencing kits. The reagents and kits segment is expected to witness significant growth due to rising demand for RNA sequencing and transcriptome analysis. Companies like Qiagen N.V., Bio-Rad Laboratories Inc., and New England Biolabs Inc. are some of the key players in this space. This market encompasses various RNA analysis services such as sequencing, gene expression analysis, and transcriptome analysis. This space is expected to grow rapidly due to the increasing outsourcing of these types of tasks by biotech and pharmaceutical companies. Companies like Eurofins Scientific SE, GenScript Biotech Corporation, and BGI Group are some of the key players in this space.
Technology analysis reveals that Real Time-PCR (qPCR) Technology commands the majority share of the market with 44% share. This high share was due to the widespread adoption of PCR for COVID-19 diagnostic purposes around the globe. QPCR is an ideal and sensitive method for probing small numbers of transcripts across a wide range of samples, providing high sensitivity detection of SARS-CoV-2, evaluation of viral RNA in various clinical samples, identification of mutations associated with SARS-CoV-2, as well as evaluation of anti-SARS drugs. Thus, the COVID-19 pandemic served as a stimulus for industry growth. Furthermore, quantitative Real-Time PCR is employed to conduct a comparative analysis between transcriptomes from the host and viral samples. Sequencing is expected to see a huge surge in the coming years due to improvements in next-generation and SMRT sequencing technology, as well as several companies providing single-cell RNA sequencing services and the rise of bioinformatics algorithms.
By Application Analysis, The Clinical Diagnostics Segment Dominates The Market With a 37% Market Share. RNA analysis is increasingly being employed in clinical diagnostics to aid diagnosis and prognosis for various diseases. The clinical diagnostics market is expected to expand rapidly due to the rising demand for personalized medicine and the rising adoption of RNA-based diagnostic tools. Companies such as Roche Diagnostics, Thermo Fisher Scientific Inc., and Qiagen N.V. are some of the key players in clinical diagnostics. RNA analysis plays a pivotal role in drug discovery, from target identification and validation to lead optimization and pharmacodynamics and pharmacokinetic studies. The drug discovery segment is projected to grow at an impressive rate due to the increasing demand for novel and effective therapeutics. Companies such as Gilead Sciences Inc., Novartis International AG, and Pfizer Inc. are some of the key players within this space. RNA analysis is widely employed in toxic genomics for the identification of genes related to toxicology and the construction of predictive toxicity models. The toxic genomics segment is expected to experience rapid growth due to rising demand for toxicity testing and the development of safer drugs and chemicals. Competitive transcriptomics is an increasingly popular application of RNA analysis that involves the comparison of gene expression profiles across various organisms or conditions. The competitive transcriptomics segment is expected to experience rapid growth due to rising demand for comparative genomics and the identification of evolutionary and ecological factors. Companies such as Illumina Inc., Pacific Biosciences of California Inc., and Oxford Nanopore Technologies Ltd. are some of the key players in this space.
End User Insight
By End-User analysis, Government Institutes & Academic Centres segment dominates the market 35% market share. The adoption rate of high throughput technologies for RNA analysis by government institutes and academic centers is driving the segment growth. Transcriptomics applications in drug discovery are fuelling demand across pharmaceutical, biotechnological, pharmaceutical, and clinical diagnostic industries alike. Furthermore, research in drug discovery contributes to market size just like clinical diagnostics research does; for instance, TORNADO-seq was developed in April 2021 – an RNA sequencing-based platform to monitor gene expression for studying cell phenotypes in organoids.
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Based on Product Type
Based on Technology
Based on Application
Based on End-User
The industry is highly fragmented, featuring numerous small, mid, and large players that compete by adopting organic growth strategies such as product development and regional expansion to expand their market presence. For instance, in May 2021 Bio-Rad Laboratories Inc. released the SEQuoia RiboDepletion Kit for next-generation (NGS) sequencing which can improve assessment efficiency by eliminating irrelevant rRNA fragments from RNA sequencing libraries. Some key players in the global RNA analysis market include some of the major players include:
Recent Development of the RNA Analysis Market
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