NGS-Based RNA-Sequencing Market Worth USD 7,984.90 Million By 2027

The NGS-Based RNA-Sequencing Market report outlines the evolution of NGS-Based RNA-Sequencing Market by type, applications and identifies and assesses the best performing vendors in the market till 2027.

NGS-Based RNA-Sequencing Market reports present the revenue opportunities in the NGS-Based RNA-Sequencing Market through 2022-2027, highlighting the market size and growth by technology, geography, vertical and end users.

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The NGS-based RNA seq market was valued at US$ 1,414.59 million in 2018 and it is projected to reach US$ 7,984.90 million in 2027; it is expected to grow at a CAGR of 19.3% from 2018 to 2027.

The NGS based RNA seq is done without a reference sequence for the strand-specific libraries that are being profiled for the rare and novel therapeutics. It is highly revolutionized study of the transcriptome which is highly sensitive and accurate for the measurement of the expression all over the transcriptome. The NGS based RNA seq provides researchers with visibility for previously undetected changes occurring in disease states, in response to therapeutics caused by different environmental conditions. In addition, this technique enables researchers to detect the known and unknown features in single assay.

Moreover it assists in detecting the gene fusions, single nucleotide variants, transcript isoforms and other features without the restriction of prior data. The growth of the global NGS-based RNA seq market is attributed to the reduced cost of genome sequencing, advancements in sequencing technology and next generation sequencing for cancer. However, risks related to genetic data and high cost of NGS instruments are the major factor hindering the market growth.
The global NGS-based RNA seq market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth.

The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.

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Technology -Based Insights
Based on technology, the global NGS-based RNA seq market is segmented into sequencing by synthesis (SBS), nanopore sequencing, ion semiconductor sequencing and single-molecule real-time (SMRT) sequencing. The sequencing by synthesis segment held the largest market share in 2018, also the same segment is estimated to grow at the fastest rate during the forecast period.

Application-Based Insights
In terms of application, the global NGS-based RNA seq market is segmented into diagnostics, drug discovery, precision medicine and others. In 2018, the diagnostics segment held largest share of the market. The same segment is expected to register the highest CAGR during the forecast period.

End User-Based Insights
In terms of end user, the global NGS-based RNA seq market is segmented into hospitals & clinics, academic & research institutes, pharmaceutical & biotechnology companies and other.

The academic & research institutes segment held the largest share of the market in 2018, and the hospitals & clinics segment is estimated to register the highest CAGR during the forecast period

The prominent/emerging players in the NGS-Based RNA-Sequencing Market research include:
• 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 Inc

Company overview:
Company overview provides the information about location of the company where it is headquartered along with the established year, employee strength as of 2017, regions where the company is operating and the key business areas.

Financial performance:
Overall company/segment revenue for the year 2019, 2018, and 2017 is provided in the sub title "financial performance" (public listed companies) along with the analysis and explanation of the increase or decrease in the same due to factors such as mergers & acquisition, profit or loss in any strategic business unit (sbus) and others.

Product benchmarking:
Product benchmarking comprises the comprehensive list of products pertaining to the respective market along with the application and key features.

Strategic initiatives:
Insights pertaining to the new product launch, strategic collaboration, mergers and acquisition, regulatory approval, and other developments by the company in market are covered under strategic initiatives section.

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This release was published on openPR.