NGS-based RNA-sequencing Market to Witness Growth Acceleration During 2020-2027

The growth in the adoption of the next generation sequencing is rising, recently in few years, next generation sequencing price have reduced greatly. For instance, first whole human genome sequencing cost over US$ 3billion in 2001 and it took approximately 15 years for its completion. However, the costs for the same in recent years has reduces to US$1,000 and the process requires less number of days. The cost of sequencing was approximately US$ 3 billion, which dropped down to US$ 10 million in 2006 and as the development in the technologies as increased the prices of sequencing has decreased to US$ 5,000 in 2012. Major market players such as Illumina and Roche have introduced breakthrough technologies that have enabled in the cost and time reduction in the sequencing. Moreover, the increase in the service provider companies have entered the market and they are offering next generation sequencing in cheaper cost.

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Here we have listed the top NGS-based RNA sequencing Market companies in the world

Thermo Fisher Scientific Inc.
Illumina Inc.
Pacific Biosciences of California, Inc.
F, Hoffman-La Roche Ltd
Agilent Technologies
BGI
Oxford Nanopre Technologies
Eurofins Scientific
Qiagen
Perkinelmer

The global NGS based RNA sequencing market is expected to reach US$ 7,984.90 Mn in 2027 from US$ 1,414.59 in 2018. The market is estimated to grow with a CAGR of 19.3% from 2018-2027.

North America is the largest geographic market and it is expected to be the largest revenue generator during the forecast period, whereas the market is expected to witness growth at a significant rate in Asia Pacific (APAC) region during the forecast period. The region is expected to be the fastest growing due to the key factors such as increasing investments by the respective government, growing number of the next generation sequencing workshops and conferences and development done by the companies. In addition, the introduction of the next generation sequencing based RNA sequencing based products by the companies are growing.

Global NGS- based RNA- seq market is expected to grow in the coming years, owing to the factors such as, reduced cost of genome sequencing, advancements in sequencing technology and next generation sequencing for cancer. However, the risks related to genetic data and high cost of NGS instruments is act as a restraint for this market. On the other hand, barcode scanning for long reads sequences likely to add novel opportunities for NGS- based RNA- seq market, in the coming years.

Highlights the following key factors:

1) Business description-A detailed description of the company's operations and business divisions.
2) Corporate strategy - Analyst's summarization of the company's business strategy.
3) SWOT Analysis-A detailed analysis of the company's strengths, weakness, opportunities, and threats.
4) Company history - Progression of key events associated with the company.
5) Major products and services-A list of major products, services, and brands of the company.
6) Key competitors - A list of key competitors to the company.
7) Important locations and subsidiaries - A list and contact details of key locations and subsidiaries of the company.
8) Detailed financial ratios for the past five years - The latest financial ratios derived from the annual financial statements published by the company with 7 years history.

Strategic Insights

Product & service launch/update and partnerships, agreements & collaborations were observed as the most adopted strategy in global NGS-based RNA sequencing industry. Few of the strategic developments made by the players in the market are listed below;

2018: In January, Illumina, Inc. launched iSeq 100 Sequencing System that delivers exceptional data accuracy, at a low capital cost, making Illumina technology available to virtually any lab.

2018: In September, QIAGEN N.V. and NeuMoDx Molecular, Inc. entered into a partnership to commercialize two new fully integrated systems for automation of PCR (polymerase chain reaction) testing.

2017: In May, QIAGEN N.V. and Maccura Biotechnology Co., Ltd. entered into a partnership to accelerate local adaptations, development and commercialization of the GeneReader NGS System in the rapidly growing clinical and clinical research markets in China.

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