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.
The COVID-19 outbreak has boosted research activity due to efforts to understand the dynamics of the infection. We estimate that the transcriptomic technologies adoption, along with personalized medicine, will grow at a stable pace in the next five years. Due to the increase in research activity, both the availability of funding for research and the demand for high-throughput technologies are expected to grow.
The reagents/consumables segment is expected to grow at the highest CAGR during the forecast period
Based on product & service, the RNA analysis/transcriptomics market is segmented into reagents/consumables, instruments, software, and services. The reagents/consumables segment is projected to witness the highest growth in the RNA analysis/transcriptomics market during the forecast periods (2020-2025). Growth in this segment is driven mostly by the increasing demand for high-quality reagents and the repeated use of media and reagents in transcriptome studies.
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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.
Based on application, the RNA analysis/transcriptomics market is segmented into clinical diagnostics, drug discovery, toxicogenomics, and comparative transcriptomics. The toxicogenomics application segment is expected to grow at the highest CAGR during the forecast period, primarily due to the increasing research focus on ADE studies and the technological advancements are taking place in the field of omics.
The pharmaceutical & biotechnology companies segment accounted for the largest market share in 2019. The large share of this segment can be attributed to the increased funding and government support for personalized drug discovery, growing use of omics-technologies, and the increasing use of RNA-seq methods for the discovery of disease as well as therapeutic targets.
RNA ANALYSIS MARKET DYNAMICS :-
- Driver: Increasing demand for personalized medicine
- Restraint: High capital investments
- Opportunity: Increasing focus on biomarker discovery
- Challenge: Lack of effective bioinformatics tools