Next Generation RNA Sequencing (NGS) Market 2024 [Latest Trends]: Analysis Future Opportunity and Demand Forecast Year 2030

The Latest Research Report on Next Generation RNA Sequencing (NGS) Market 2024 outlines the key factors influencing the growth of this area in terms of the competitive and geographic environment. In addition, the research discusses the obstacles to market growth and provides information on unexplored prospects that will promote company progress in the 2024-2030 forecast period.

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Major Major Players are:
Genewiz, Illumina, Biocompare, Integrated DNA Technologies, Nucleome Informatics, Qiagen, Thermo Fisher Scientific, CD Genomics, BGI Genomics, Novogene

Next Generation RNA Sequencing (NGS) Market Overview:

Market Size and Overview:

The Next Generation RNA Sequencing (NGS) Market was valued at USD 3.39 Billion and is projected to reach a market size of USD 10.57 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 17.6%.

Market Overview:

Previously, manual approaches were the norm for RNA sequencing, utilizing conventional lab methods to analyze diseases and facilitate the development of vaccines and medications. However, this method was time-consuming and often yielded flawed, delayed outcomes. Advancements in RNA sequencing technology subsequently produced more accurate results, necessitated less human involvement, and introduced cost-effective sequencing alternatives like nanopore sequencing, small RNA sequencing, and single-cell RNA sequencing. The escalating demand for precise medical solutions further expanded market prospects for companies specializing in RNA sequencing. The next generation RNA sequencing market anticipates positive growth due to ongoing technological advancements in sequencing techniques, including increased integration of data analytics tools and sophisticated software for genomic research data storage.

Key Market Insights:

Prolix Research, a clinical research organization in the USA, reported that personalized medicine therapies comprised 39% of new drugs approved by the United States Food and Drug Administration.

According to the World Health Organization (WHO), genetic disorders and congenital abnormalities affect around 2-5% of all live births.

Additionally, WHO states that single-gene diseases impact 10 out of 1000 individuals.

Next Generation RNA Sequencing (NGS) Market Drivers:

The burgeoning demand for personalized medicine has significantly boosted the market for Next Generation RNA Sequencing (NGS).

Patients increasingly prefer tailored medical treatments that involve their active engagement and enable swift disease management. Next Generation RNA Sequencing (NGS) facilitates researchers, physicians, scientists, and healthcare professionals in devising targeted therapies based on obtained data. Moreover, RNA sequencing assists clinicians in selecting treatments for chronic diseases such as cancer and monitoring disease progression post-intervention. Furthermore, it aids in discovering targeted drugs and vaccines for potential future disease outbreaks.

Technological advancements in sequencing technologies have propelled the demand for Next Generation RNA Sequencing (NGS).

Advancements in gene sequencing technology have made the process cost-effective, error-free, efficient, and reliable for researchers. The prevalence of RNA sequencing platforms like illumine and the integration of nanotechnology, such as nanopore sequencing, have enabled the study of minute molecules and identification of target diseases for biomarker development. Moreover, enhancements in RNA transcription, like longer and ultra-long read lengths, have further refined the sequencing process. Trends in data analytics have bolstered the Next Generation RNA Sequencing (NGS) market by reducing biases and errors during sequencing and facilitating efficient genomic data management through cloud-based storage software.

Next Generation RNA Sequencing (NGS) Market Restraints and Challenges:

Cost implications associated with RNA sequencing products may impede the growth of the Next Generation RNA Sequencing (NGS) Market.

The high costs of certain RNA sequencing products, including machinery, equipment, technologically advanced tools, and services, could dampen the demand for Next Generation RNA Sequencing (NGS) in the market.

Data Security issues of genomic data could pose significant challenges for businesses.

Concerns about data or privacy breaches can deter the market demand for NGS. Modern RNA sequencing tools and services that store genomic data online, such as cloud-based software, are susceptible to cyber-attacks, leading to potential misuse or breaches, thereby diminishing the demand for NGS in the market.

Next Generation RNA Sequencing (NGS) Market Opportunities:

The Next Generation RNA Sequencing (NGS) market is on an upward trajectory due to the growing demand for targeted treatments, especially for chronic diseases like tumors and cancer. Moreover, the emergence of gene-tech startups in the sequencing industry is creating various growth opportunities. Technology-enabled RNA sequencing, requiring minimal human intervention and reducing errors in processes such as RNA isolation and library preparation, is contributing to the market's expansion.

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Market Segmentation are:
Segmented By Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Nanopore Sequencing, and Single-Molecule Real-Time Sequencing), By Application (De Novo Transcriptome Assembly, Variant calling and Transcriptome Epigenetics, Small RNA-Sequencing, and Expression Profiling Analysis) By Sample Source (Environmental/Microbial, Animal, Plant, and Human), By Product & Service (Sample Preparation Products, RNA-Sequencing Services, RNA Sequencing Platforms & Consumables, Data Analysis, Storage, and Management), By End-User (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Research & Academia, and Others); and Region- Size, Share, Growth Analysis | Forecast (2024 2030)

Next Generation RNA Sequencing (NGS) insights, overview and deep study of factors are considered to have greater influence over future course of the industry such as market size, market share, different dynamics of the industry, Next Generation RNA Sequencing (NGS) market companies, regional analysis of the domestic markets, value chain analysis, consumption, demand, key application areas and more.

NOTE: Our report highlights the major issues and hazards that companies might come across due to the unprecedented outbreak of COVID-19.

How will this report benefit potential stakeholders?
-Comprehensive assessment of all opportunities and risks in the Next Generation RNA Sequencing (NGS) market.
-The detailed study of business strategies for the growth of the Next Generation RNA Sequencing (NGS) market-leading players.
-Conclusive study about the growth plot of the Next Generation RNA Sequencing (NGS) market for forthcoming years.
-In-depth understanding of Next Generation RNA Sequencing (NGS) market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Next Generation RNA Sequencing (NGS) market.

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What Next Generation RNA Sequencing (NGS) Market report offers:
1.Next Generation RNA Sequencing (NGS) Market share assessments for the regional and country-level segments
2.Market share analysis of the top industry players
3.Next Generation RNA Sequencing (NGS) Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
4.Strategic recommendations in key business segments based on the market estimations
5.Competitive landscape covering following points: Company Overview, Product Portfolio, Financial Performance, Recent Highlights, Strategies

COVID-19 has had a major impact on the world economy in addition to that on the public health. This particular pandemic had caused severe economic destruction and not a single country has been left unaffected. The virus has forced businesses around the globe to change the way they operate. This report gives an analysis of the COVID-19 aftermath on Next Generation RNA Sequencing (NGS) market.

Competitive Rivalry:
The report highlights vital details based on the leading players in the global Industrial Next Generation RNA Sequencing (NGS) market. It features their details such as product/business portfolio, market share, financial status, regional share, segment revenue, SWOT analysis, manufacturing base, capacities, production volume, major vendors, raw material sourcing strategies, organizational structure. Their latest corporate deals, joint ventures, mergers and acquisitions, product launches, and other brand promotions are other facts about the market players included in the report.

We also offer customization on reports based on specific client requirement:
1- country-level analysis for any 5 countries of your choice.
2- Competitive analysis of any market players.
3- 40 analyst hours to cover any other data points

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Finally, Next Generation RNA Sequencing (NGS) Market is a valuable source of guidance for individuals and companies in decision framework.

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Cognate Lifesciences is a specialized hub for all market research reports related to Lifesciences Market. Some of the sub domains covered by our team are Pharmaceuticals, Medical Devices and Supplies, Healthcare, Diagnostics, Biotech, Therapeutics, Healthcare IT etc. We offer syndicated/customized market research studies along with advisory and consulting services.

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