Transcriptomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F
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
The global transcriptomics market is anticipated to witness impressive growth during the forecast period.This can be ascribed to the growing application of RNA sequencing and NGS for the diagnosis of genetic illness in developing countries.
Additionally, growing initiatives and investments by government organizations for developing new technology, with the introduction of new microarray technology, have significantly increased the demand for transcriptomics across different parts of the globe.Additionally, the rising adoption of new technology and growing demand for personalized medicine for treatments are further expected to increase the demand for transcriptomics, thereby fuelling the market growth through 2028.
Furthermore, the increasing number of biopharmaceutical companies and growing expenditure on research and development are further expected to increase the demand for transcriptomics, thereby supporting market growth.Every 4 1/2 minutes, a baby is born with a birth defect in the United States every year, and it affects 1 in every 33 babies born in the United States each year.
That translates into about 120,000 babies.
Increasing Demand for Personalized Medicine
Increasing demand for precision medicine & genetic testing and increasing prevalence of conditions such as obesity, hepatitis B, and cancer is expected to boost the market for transcriptomics technology.Additionally, increasing the incidence of genetic mutations related diseases such as down syndrome due to arising in carcinogens and genetic variants among the population is expected to propel the market growth during the forecast period.
The increasing prevalence of cancer is expected to offer lucrative growth opportunities for players in the global transcriptomics technologies market. For instance, according to the American Cancer Society, in 2019, total estimated 1,762,450 new cancer cases were diagnosed and 606,880 cancer deaths in the U.S. Particularly, next-generation sequencing (NGS) has transformed the diagnosis of genetic illnesses and allowed medical professionals to offer even more thorough clinical insights. For instance, in April 2020, Indivumed GmbH, an oncology company, launched the Oncology Alliance for Individualized Medicine, an international collaborative alliance to advance personalized medicine in cancer through IndivuType, the company’s multi-omics database.
Growing Development of the Healthcare Industry
Due to the increasing technological developments in the research and development sector and the use of RNA sequencing technology in analytical science, the demand for transcriptomics technology is expected to create lucrative growth in the forecast period.Private and government organizations are supporting the research and development sector with the help of pharmaceutical and biotechnology firms which will further boost the market growth in the forecast period.
The funding for cancer research has rapidly increased, and most of the government funding centers for breast cancer and childhood cancer. In 2019, the NIH of the US government invested USD460 million in breast cancer which has increased to USD3.5 billion in the year 2022.
The global transcriptomics market can be segmented by component, technology, application, end-user, and by region.Based on components, the market can be segmented into Instruments, Consumables, and Software & Services.
Based on technology, the market can be differentiated into Next Generation Sequencing, Polymerase Chain Reaction, Microarray, In-Situ Hybridization, and Others.Based on application, the market can be segmented into Drug Discovery & Development, Cell Biology, Single Cell Analysis, Gene Expression, and Others.
Based on the end user, the market can be segmented into Biotechnology & Pharmaceutical Companies, Academic & Research Institutions, and Others.Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America.
Among the different countries, the United States dominated the global transcriptomics market on account of the increasing demand for personalized medicine in the country.
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. are some of the leading players operating in the Global Transcriptomics Market.
• In May 2022, BioSkryb Genomics first announced the Early Access Program (EAP) for ResolveOME. With this one-cell process, the whole genome and full-length mRNA transcripts of the whole transcriptome can be amplified from a single cell.
• In January 2022, Parse Biosciences, a company that helps researchers with single-cell sequencing, made a deal with Research Instruments Ptv Ltd to sell Parse’s Evercore Whole Transcriptome Kits (WTKs), Cell Fixation Kits, and Nuclei Fixation Kits in Singapore and the rest of Southeast Asia.
In this report, global transcriptomics market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:
• Transcriptomics Market, By Component:
o Software & Services
• Transcriptomics Market, By Technology:
o Next-Generation Sequencing
o Polymerase Chain Reaction
o In-Situ Hybridization
• Transcriptomics Market, By Application:
o Drug Discovery & Development
o Cell Biology
o Single Cell Analysis
o Gene Expression
• Transcriptomics Market, By End User:
o Biotechnology & Pharmaceutical Companies
o Academic & Research Institutions
• Transcriptomics Market, By Region:
o North America
o Asia Pacific
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in Global Transcriptomics Market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).