Increasing demand for precision medicine is expected to drive the growth of global transcriptomics in the forecast period, 2024-2028.
According to TechSci Research report, “Transcriptomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F”, the global transcriptomics market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the increasing demand for personalized medicine for the treatment of specific diseases in people, worldwide. Additionally, rising development in research and development and its expenditure, along with increasing investment by government organizations, especially in the developed countries in the North America and Europe, are expected to create lucrative opportunities for the market growth in coming years. Besides, increasing attention on biomarker discovery and the growing application of toxic genomics are further expected to support the market growth. Similarly, the growing application of RNA sequencing along with the development of new transcriptomics products further enhanced the demand for the development of novel drugs which will boost the market growth during the forecast period. Also, increasing the number of large key players across the globe will propel the growth of the transcriptomics market during the forecast period.
However, the lack of efficient data analysis tools is slowing down the growth of global transcriptomics market in the forecast period. Similarly, increasing technological advances create data complexity after analysis of transcripts through sequencing platforms which will show negative results and may hamper the transcriptomics market growth during the forecast period. Also, the lack of skilled professionals for handling the transcriptomics in emerging countries can further restrict the growth of global transcriptomics market. Similarly, high capital investment requirements and data management issues may hamper the growth of the market during the forecast period.
Browse over XX market data Figures spread through 110 Pages and an in-depth TOC on "Global Transcriptomics Market"
The global transcriptomics market can be segmented by component, by technology, by application, by end user and by region.
Based on component, the global transcriptomics market can be segmented into Instruments, Consumables, and Software & Services. The consumables segment dominated the market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to increasing research and development activities in the pharmaceutical industry along with rising demand for drug development to cure diseases. Similarly, a growing number of clinical laboratories is expected to enhance the demand for transcriptomics during the forecast period.
Based on technology, the market can be segmented Next Generation Sequencing, Polymerase Chain Reaction, Microarray, In-Situ Hybridization, and Others. The PCR segment is expected to dominate during the forecast period on account of increasing number of COVID-19 cases, the rising use of genetic testing along with increasing demand for transcriptomics for drug delivery. Similarly, the growing discovery of new therapeutics compared to the traditional methods of RNA-sequencing for the treatment of chronic diseases will boost the market growth during the forecast period.
Major companies operating in the global transcriptomics market are:
- Agilent Technologies, Inc.
- ANGLE plc.
- Bio-Rad Laboratories, Inc.
- Becton, Dickinson, and Company
- Fluidigm Corporation
- BioSypder, Inc.
- Danaher Corporation (Cytiva)
- 10x Genomics, Inc.
- Pacific Biosciences of California, Inc.
- NanoString Technologies, Inc.
In February 2022, Moderna and Thermo Fisher Scientific Announced a Long-Term Strategic Collaboration.
In April 2022, Scitara announced a collaboration with PerkinElmer Informatics to create a new model of the modern lab.
In May 2022, ResolveOME's Early Access Program (EAP) was introduced by BioSkryb Genomics. The entire genome and full-length mRNA transcripts of the entire transcriptome are amplified from the same cell using this integrated, single-cell approach.
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“North America is expected to dominate in the global transcriptomics market, due to the increasing demand for different types of chronic diseases such as obesity, hepatitis B, and cancer among the population across the region. Similarly, the growth in demand for faster testing for genetic testing and research will enhance the demand for transcriptomics which will boost the market during the forecast period. Furthermore, increasing number of key players in the market along with growing development in the healthcare sector, complemented by increasing investment by major key players to produce novel drugs, are further contributing to the demand for transcriptomics. Besides, increasing favorable government reimbursement policies, growing demand for new transcriptomics, and growing awareness about the usage and benefits of transcriptomics in the region, are further expected to create lucrative opportunities for the market growth” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Transcriptomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Component (Instruments, Consumables, Software & Services), By Technology (Next Generation Sequencing, Polymerase Chain Reaction, Microarray, In-Situ Hybridization, Others), By Application (Drug Discovery & Development, Cell Biology, Single Cell Analysis, Gene Expression, Others), By End User (Biotechnology & Pharmaceutical Companies, Academic & Research Institutions, Others), By Region and Competition”, has evaluated the future growth potential of global transcriptomics market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global transcriptomics market.
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