NGS-based RNA-Sequencing Market is predicted to reach at a CAGR of 19.7% during the forecast period (2022-2029).
NGS-Based RNA-Sequencing is a technology used in identifying and determining the order of nucleotides in an RNA sequence. This technique plays a vital role in analyzing transcriptomics and gene expression. NGS-Based RNA-Sequencing is a faster and more reliable technology to obtain genetic information from samples, and at a lower cost than ever before with a significant increase in throughput capabilities.
The global NGS-based RNA-sequencing market growth is driven by the surge in the number of product approvals for RNA-sequencing platforms and consumables, advancements in data analysis & storage, automation in sample generation techniques, as well as augmenting genomic research in the fields of rare genetic diseases and autoimmune diseases are leading to growth in adoption of NGS-based RNA-Sequencing products.
NGS-based RNA-sequencing offers several advantages over the conventional methods for transcriptome analysis with cost-effective procedures. Since it allows direct quantification and identification of transcripts, it is becoming a de facto standard approach for investigating and optimizing mammalian cells. In addition, NGS-based RNA-sequencing eliminates non-ideal hybridization and cross-hybridization, as observed in microarrays. This technique provides absolute values with higher specificity and can quantify the large dynamic range of expression levels. Since NGS-based RNA-sequencing allows the detection of novel transcripts, this technology is emerging as an alternative to whole-genome transcriptome profiling. Therefore, as mentioned above, these factors are collectively responsible for the growth of the NGS-based RNA-sequencing market over the analysis period.
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Next-generation sequencing has turn out to be the investigational tool for several researchers in the fight against the COVID-19 pandemic. RNA-sequencing precisely is crucial in serving to update the understanding of infection dynamics and viral pathogenesis of the SARS-CoV-2 virus. Numerous advanced studies were undertaken in order to understand the ever-changing aspects and epidemiology of the virus across various countries using single-cell RNA sequencing, stranded RNA-sequencing, and ultra-low input RNA-sequencing. A comprehensive investigation of the SARS-CoV-2 virus was carried out in order to reveal the molecular mechanisms and hub genes based on a genome-wide RNA sequencing dataset. This has greatly boosted the research and development activities in clinical studies with NGS as their basis of innovation. Thus, in the context of the ongoing pandemic, the NGS-based RNA-Sequencing market is projected to be positively impacted by COVID-19.
Regional Insights:
According to the report, the global market is divided into five major regions, such North America, Europe, Asia Pacific, Latin America, Middle East and Africa, and Rest of the world.
Within North America, the United States has held the major share of the market and is expected to dominate over the forecast period. The presence of major biotechnological research companies such as Illumina, Inc., Thermo Fischer Scientific Inc., Agilent Technologies, Inc., PerkinElmer Inc., and GENEWIZ, Inc. in the region coupled with the early adoption of NGS technology contribute toward the growth of the market. Upsurge in funding from the private players and federal government, as well as the increased implementation of RNA sequencing technologies by non-government and government bodies for biomedical and genomic research purposes, is anticipated to enhance the adoption of NGS-based RNA-sequencing techniques, majorly in the United States.
Competitive Landscape and Major Players Covered in the Market:
The global NGS-based RNA-sequencing market is highly competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Illumina, Inc., Oxford Nanopore Technologies, Agilent Technologies, Inc., Thermo Fisher Scientific Inc., PerkinElmer, Inc., F. Hoffmann-La Roche Ltd, Hamilton Company, and Takara Bio Inc. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market.
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