Transcriptomics Market Analysis Focusing on the Key Issues Surrounding the Growth of the Industry and Further Develop Opportunities

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The research report published by Allied Market Report states that the global transcriptomics market is estimated to reach $7.9 billion by 2023. The report provides an in-depth analysis of growth factors, opportunities, market trends, key segments, and competitive landscape. Current market conditions and the future scenario of various regions have been analyzed in the report to help market players in devising expansion strategies. Moreover, it includes country-wise analysis of each region. Product portfolio and business segments of leading market players outline the competitive scenario. The report provides insights to help investors, stakeholders, and new entrants to determine potential opportunities and tap on them to gain competitive advantage. Real-time PCR segment held more than two-fifths share of the total market in 2016.

Increase in technological advancements and rise in research grants by various institutes is expected to drive the market growth. In addition, the potential of RNAs to act as candidates for diagnostic biomarkers and predictors of drug response are anticipated to further drive the demand for transcriptomics globally. However, standardization concerns over RNA sequencing and lack of skilled professionals restrict the market growth.

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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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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%.

The major Key players Are:

• 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
• Promega Corporation.

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