Transcriptomics Market on position to touch $7,954 Million by 2023, Globally

Transcriptomics is the study of entire set of RNA transcripts produced by the genome of any organism. Increase in advancements in the field of transcriptomics such as extensive use of RNA-sequencing and rise in application of transcriptomics, which includes drug discovery is expected to drive the growth of the transcriptomics market.

The Global 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.

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Rise in funding and grants by various private and government organizations have further stimulated the market growth. However, certain drawbacks of RNA sequencing and lack of skilled professionals are expected to restrain the market growth.

Increase in Research Funding

Thermo Fisher Scientific, Inc., initiated new Ion Torrent Transcriptome Profiling Grant Program, which focusses on the benefits of gene-level expression analysis as novel biomarkers, which can help in cancer diagnostics, prognostics, and experimental therapy use. The award included the use of the Ion AmpliSeq Transcriptome Technology by winners along with the help from Thermo Fisher Scientific’s Certified Service Provider partners.

Presence in the U.S.

Most global manufacturers of transcriptomic systems, platforms, equipment, and technologies are active in North America, especially in the U.S. For instance, in April 2017, NuGEN Technologies, Inc. launched two new products, Universal Plus mRNA-Seq and Trio RNA-Seq kits that allows RNA sequencing with greater efficiency from routine samples.

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The market is segmented based on technology, product & services, technology, application, end user, and region. Based on technology, it is divided into microarray, real time-PCR (qPCR), and sequencing. Based on products and services, the market is divided into consumables, instruments, software, and services. The application segment includes diagnostics & disease profiling, drug discovery, and others. The end users of this market include pharmaceutical & biotechnology companies, government institutes & academic centers, and contract research organization. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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.

North America accounted for the share of more than 45% of the overall market in 2016 and is expected to maintain its dominance throughout the forecast period. This is attributed to the increased funding for research institutes and increased incidence of chronic disorders such as cancer. However, Asia-Pacific is projected to be the fastest growing region throughout the analysis period, at a CAGR of 15.7%.

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The major players of the market includes QIAGEN (Exiqon), Thermo Fisher Scientific Inc., Illumina, Inc., Agilent Technologies, GE Healthcare Dharmacon Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche Ltd., Merck & Co., Inc., Fluidigm Corporation, and Promega Corporation.

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