The RNA analysis market is projected to reach USD 8.7 billion by 2025 from USD 4.5 billion in 2020, at a CAGR of 13.9% during the forecast period. The growth of this market is majorly driven by the increasing demand for personalized medicine, increasing pharmaceutical and biotechnology R&D expenditure and government funding for omics, and the increasing applications of RNA sequencing in the transcriptomics market.
The increasing focus on biomarker discovery and toxicogenomics, along with the increasing interest in outsourcing services, is expected to offer significant growth opportunities for the players operating in the global RNA analysis/transcriptomics market. On the other hand, the requirement of high capital investments and data management issues are expected to restrain the growth of this market to a certain extent.
These advancements are particularly evident in the area of oncology. According to the Personalized Medicine Coalition report (2017), the number of personalized drugs, treatments, and diagnostic products has increased since 2006, and this trend is expected to continue in the coming years.
With the widespread implementation of novel applications, the use of transcriptomics research extends all the way from the discovery of novel drugs, vaccines, and diagnostic targets, toxicology, and identification of surrogate markers of activity in clinical research to the ability to provide information on the mechanisms of drug action. This requires the use of different types of platforms and instruments as well as laboratory documentation systems, contributing to the high cost of analytics.
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Biomarker identification, along with its clinical applications, has simplified drug discovery and development procedures in terms of evaluating the toxicity and efficacy of drugs. Besides, biomarkers for diseases like cancer, CVD, and neurological diseases are playing an integral role in enabling a better understanding of the disease pathway and progression.
The microarray technology used in transcriptomic analysis offers the promise of widespread study of diseases at the genomic level. It also aids in developing novel clinical biomarkers, identifying novel molecular abnormalities, and investigating drug efficacy.
Microarray experiments for transcriptomic studies produce enormous amounts of data. Therefore, researchers typically face problems in the interpretation of results and exploiting available computational power to process said data. Moreover, RNA sequencing data from transcriptomics studies have low genome coverage and high amplification bias, which makes data analysis extremely challenging, especially without effective bioinformatics tools.
This poses several challenges in terms of difficulties in calling copy number variations, identifying mutated genes in tumor samples, reconstructing cell lineages, recovering low abundant transcripts, and improving the accuracy of quantitative analysis of transcripts. Currently, there is a greater need from researchers for technical standards and bioinformatics software and databases to evaluate genome coverage and amplification bias, so that the results from different technologies can be compared with each other.
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The reagents/consumables segment accounted for the larger market share in 2019. The increasing demand for high-quality reagents and the repeated use of media and reagents in transcriptome studies. Additionally, the growing R&D activities in the pharmaceutical industry, growing government investments in the field of life science research, and the increasing research being undertaken with integrated omics studies are contributing to the market for consumables.
The sequencing technologies segment is expected to witness the highest growth during the forecast period. RNA sequencing allows direct access to sequences of mRNA and is an equitable technology, which makes it more suitable for target identification and drug discovery applications. RNA sequencing also helps overcome several issues associated with microarrays, such as bias and variation due to hybridization and labeling efficiencies. Technological advancements in this segment are further set to drive market growth.
The growing need to study a large number of genes to gain a better understanding of gene-to-drug interactions is further expected to drive the use of transcriptomic technologies in drug discovery applications.