Transcriptomics Market is Witnessing High Demand Due to Increase in Research Funding

Transcriptomics market was valued at $3,212 million in 2016, and is projected to reach $7,954 million by 2023, growing at a CAGR of 13.8% from 2017 to 2023. Real-time PCR segment held more than two-fifths share of the total market in 2016.

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Advanced techniques such as RNA sequencing is highly useful and advantageous when compared with traditional microarrays due to different reasons, namely, less quantity (in nanograms) of input sample required, lack of experimental bias observed in microarrays. This in turn is expected to stimulate the market for transcriptomics.

Transcriptomics is the study of the complete set of RNA content produced by the genome of an organism. As the transcriptome produced has a high potential as it can used for drug discovery and diagnosis purposes, the market is expected to witness a boost in the coming years.

Increased funding by various government and private organizations and advanced RNA analysis technologies is expected to drive the transcriptomics market. Moreover, the recent trend of outsourcing to CROs, which provides the expression analysis and quantitative services for transcriptome further boosts the market growth. However, related concerns over the use of RNA sequencing is expected to hamper the market growth.

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North America dominates the transcriptome market, owing to heavy expenditure by the government on research projects. It is followed by Europe and Asia-Pacific, respectively.

Instruments were valued at $874 million in 2016 and is estimated to reach at $2,135 million by 2023 at a CAGR of 13.5% during the forecast period. In addition, services segment is the fastest growing segment in the transcriptomics market, registering a CAGR of 16.0% during the forecast period.

Government institutes & academic centers segment is projected to maintain its lead in the overall transcriptomics market throughout the forecast period. This is primarily attributed to the increased research projects to test the ability of RNA as candidates of disease biomarkers. Furthermore, CROs is anticipated to exhibit the highest growth, with a CAGR of 14.1% during the forecast period.

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Key Findings of the Transcriptomics Market:

• Drug discovery application led the overall transcriptomics market, and accounted for nearly three-fifths of the total market in 2016.

• Sequencing technology is projected to grow at highest CAGR of 15.1% during the forecast period.

• CROs are the fastest growing end user market for transcriptomics and are expected to witness CAGR of 14.1% during the forecast period.

• qPCR technology segment occupied nearly half of the global transcriptomics market in 2016.

• Japan is the major shareholder, accounting for more than one-third of the Asia-Pacific transcriptomics market in 2016.

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