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Ribonucleic Acid (RNA) Sequencing Market Forecast: Size, Segmentation, and Trends Propelling Growth in this Rapidly Evolving Sector!
Ribonucleic Acid (RNA) Sequencing Market
As per the report, the ribonucleic acid (RNA) sequencing market size has grown exponentially in recent years. It will grow from $2.66 billion in 2023 to $7.29 billion in 2024 at a compound annual growth rate (CAGR) of 22.2%. The ribonucleic acid (RNA) sequencing market size is expected to see exponential growth in the next few years. It will grow to $7.29 billion in 2028 at a compound annual growth rate (CAGR) of 22.4%.
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Role Of Precision Medicine In Driving The RNA Sequencing Market
An increasing focus on precision medicine is expected to propel the growth of the ribonucleic acid (RNA) sequencing market going forward. Precision medicine or personalized medicine is an innovative approach to medical treatment and prevention that considers individual variability in genes, environment, and lifestyle for each person. Personalized medicine has the potential to provide more effective treatments, advancements in genomics, increasing disease complexity, and regulatory support. RNA sequencing technologies are utilized to determine the sequence and quantify the expression levels of RNA molecules within a sample. It enables comprehensive analysis of transcriptomes and insights into gene expression patterns, alternative splicing events, and RNA modifications. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. Therefore, increasing focus on precision medicine drives the ribonucleic acid (RNA) sequencing market.
Automation Advancements Driving Innovation In RNA Sequencing Market
Major companies operating in the ribonucleic acid (RNA) sequencing market focus on RNA next-generation sequencing assay to improve patient care through data-driven insights and precision medicine. RNA next-generation sequencing assay is a next-generation exome sequencing platform that leverages advanced genomic sequencing technologies to analyze a patient's entire exome. For instance, in June 2023, Tempus, a US-based precision medicine technology company, unveiled its new standalone RNA next-generation sequencing assay, Tempus xR. This innovative assay, designed for solid tumors, offers a comprehensive analysis of the entire transcriptome, highlighting clinically significant fusions in over 100 targeted genes and altered splicing for MET Exon 14 and EGFRvIII. This offering caters to physicians with a specific interest in RNA fusions or altered splicing and providers, researchers, and biopharma companies seeking detailed RNA sequencing analysis of their existing samples.
The ribonucleic acid (RNA) sequencing market covered in this report is segmented -
1) By Product Type: Instruments, Reagents And Kits, Software
2) By Technology: Single Molecule Based Sequencing, Sequence By Synthesis Technology, Nanopore Sequencing Technology, Ion Torrent Semiconductor Sequencing
3) By Applications: Diagnostics, Drug Discovery, Translational Medicine, Other Applications
4) By End User: Research And Academia, Hospitals And Clinics, Pharmaceutical And Biotechnology Companies, Other End Users
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Major companies operating in the ribonucleic acid (RNA) sequencing market are F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Danaher Corporation, Merck KGaA, Becton, Dickinson and Company, GE HealthCare Technologies Inc, Eurofins Scientific SE, Agilent Technologies Inc, Illumina Inc, PerkinElmer Inc, bioMérieux SA, Beckman Coulter Inc, Sysmex Corporation, Bio-Rad Laboratories Inc, QIAGEN N.V., Tecan Genomics Inc, Natera Inc, Myriad Genetics Inc., BGI Genomics Co Ltd, Takara Bio Inc, Cepheid, NeoGenomics Laboratories Inc, Abcam Limited, Oxford Nanopore Technologies plc, Pacific Biosciences of California Inc, Macrogen Inc, Standard BioTools Inc, Ambry Genetics Corporation, Biocartis SA, CD Genomics
Contents of the report:
1. Executive Summary
2. Ribonucleic Acid (RNA) Sequencing Market Report Structure
3. Ribonucleic Acid (RNA) Sequencing Market Trends And Strategies
4. Ribonucleic Acid (RNA) Sequencing Market - Macro Economic Scenario
5. Ribonucleic Acid (RNA) Sequencing Market Size And Growth
…..
27. Ribonucleic Acid (RNA) Sequencing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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