NGS-based RNA-sequencing Market Top Trends, Latest Opportunities, Future Growth, Business Scenario, Size, Scope, Key Companies and Forecast

The NGS-based RNA-sequencing industry is expected to continue its growth trajectory in the near future, driven by the increasing demand for personalized medicine and drug development. RNA-sequencing technology has become more accessible and cost-effective, making it a popular tool in research and clinical settings.
NGS-based RNA-sequencing Market [https://www.marketsandmarkets.com/Market-Reports/ngs-based-rna-seq-market-102977816.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=paidpr] in terms of revenue was estimated to be worth $2.5 billion in 2022 and is poised to reach $5.5 billion by 2027, growing at a CAGR of 17.2% from 2022 to 2027 according to a new report by MarketsandMarkets Trademark . The growth of the NGS-based RNA-sequencing market is largely driven by the advantages of RNA sequencing over conventional technologies, the decreasing costs of genome sequencing, increasing government funding to support genomics projects, growing research involving RNA sequencing, growing cancer cases, the increasing application of NGS in cancer research, and rapid growth in personalized medicine.

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RNA sequencing platforms & consumables segment held a major share in the NGS-based RNA-sequencing market in 2021.

Based on product, the NGS-based RNA-sequencing market is segmented into sample preparation products, RNA sequencing platforms and consumables, RNA sequencing services, and data analysis, storage, and management. The RNA sequencing platforms and consumables segment is estimated to be the largest segment in this market. The availability of advanced, efficient, and accurate platforms at a low cost has reduced the cost of sequencing overall, thereby boosting the overall pace of sequencing activity. Continuous technological advancements have also contributed to market growth. The growth of the consumables market is tied to the instruments market and is driven by rising research activity, the need for repeated purchases, and the use of consumables in sequencing. On the other hand, the RNA sequencing services segment is expected to grow at the highest CAGR during the forecast period owing to the expansions in NGS-based RNA service portfolios, the increasing number of contracts for RNA-sequencing services, and the rising adoption of advanced NGS platforms by service providers.

Expression profiling analysis application segment dominated the global NGS-based RNA-sequencing market in 2021.

Based on application, the NGS-based RNA-sequencing market is segmented into expression profiling analysis, small RNA sequencing, de novo transcriptome assembly, and variant calling & transcriptome epigenetics. In 2021, the expression profiling analysis segment accounted for the largest share of the global NGS-based RNA-sequencing market. Expression profiling analysis is adopted on a large-scale during immunology and stem cell research and neurobiology studies to evaluate cell differentiation and development. Expression profiling analysis is used to analyze patient samples to provide specific treatment options. It also detects complex diseases, such as multiple sclerosis, cardiomyopathy, and metabolic disorders. Thus, the increasing prevalence of metabolic disorders, multiple sclerosis, and other diseases are expected to propel the demand for expression profiling analysis.

Asia Pacific to witness the highest growth in the NGS-based RNA-sequencing market during the forecast period

Geographically, the NGS-based RNA-sequencing market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The market in the Asia Pacific is expected to grow at the highest CAGR during the forecast period. The high growth rate of the APAC region can be attributed to a significant focus on R&D, the decreasing costs of NGS products and services, and the increasing focus of major market players on strengthening their presence in the Asia Pacific.

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NGS-based RNA-sequencing Market Dynamics:

Drivers:

* Decreasing costs of genome sequencing
* Advantages of RNA-seq over conventional technologies
* Increasing government funding to support genomics projects
* Growing research involving RNA-seq
* Rising cancer cases and increasing application of NGS in cancer research
* Rapid growth in personalized medicine adoption

Restraints:

* Lack of qualified specialists
* End-user budget constraints in developing countries
* Standardization concerns of RNA-seq in diagnostic testing

Opportunities:

* Adoption of blockchain technology and cloud computing

Challenges:

* Storage and interpretation of sequencing data
* Analysis of RNA-seq data to detect novel transcripts
* Ethical issues

Key Market Players:

The prominent players in the NGS-based RNA-sequencing market are Illumina, Inc. (US), QIAGEN N.V. (Netherlands), PerkinElmer, Inc. (US), Eurofins Scientific (UK), and Thermo Fisher Scientific, Inc. (US). These companies have adopted organic and inorganic growth strategies, such as product and service launches and acquisitions, to maintain their leading positions in the NGS-based RNA-sequencing market.

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Recent Developments:

* In July 2022, Illumina Inc. (US) launched Illumina DRAGEN v4.0, an accurate and comprehensive secondary analysis platform.
* In January 2021, Oxford Nanopore Technologies collaborated with NVIDIA to integrate the NVIDIA DGX Station A100 into Oxford Nanopore's ultra-high-throughput sequencing system, PromethION.
* In July 2019, Oxford Nanopore Technologies (UK) launched GridION for real-time, on-demand, long-read, direct DNA or RNA sequencing.

NGS-based RNA-sequencing Market Advantages:

* NGS-based RNA-sequencing allows for the analysis of the entire transcriptome, enabling the identification of novel transcripts and alternative splicing events. This provides a more comprehensive view of gene expression and allows researchers to identify potential disease-associated transcripts that may have been missed using other methods.
* RNA-sequencing is highly sensitive and can detect low-abundance transcripts, enabling the identification of rare cell populations or disease-associated biomarkers. This is particularly important in the field of oncology, where the identification of cancer-specific biomarkers can inform diagnosis and treatment decisions.
* RNA-sequencing is a flexible technology that can be used for a wide range of applications, from basic research to clinical diagnostics. It can be used to study gene expression in various tissues and cell types, as well as to analyze RNA from various sources, such as blood, saliva, and urine.
* NGS-based RNA-sequencing is becoming increasingly cost-effective, making it more accessible to researchers and clinicians. As the cost of sequencing continues to decrease, RNA-sequencing is expected to become a routine tool in clinical settings, enabling the development of personalized medicine approaches.
* Overall, the advantages of the NGS-based RNA-sequencing market are driving its growth and adoption in research and clinical settings, with the potential to transform our understanding of gene expression and improve patient care.

NGS-based RNA-sequencing Market - Report Highlights:

* New and improved representation of financial information: The new edition of the report provides updated financial information for 2021 for each listed company in a graphical representation in a single diagram (instead of multiple tables). This would help in the easy analysis of the present status of profiled companies in terms of their financial strength, profitability, key revenue-generating region/country, and business segment focus in terms of the highest revenue-generating segment.
* Recent market developments: Recent developments are helpful to know the market trends and growth strategies adopted by players in the market.
* Latest product/service portfolio: Tracking product/service portfolios helps analyze the NGS-based RNA-sequencing product/service offerings in the market. The new edition of the report provides an updated product/service portfolio of the companies profiled in the report.
* Regional level (country-wise) market data has been added wherever applicable for the segments and subsegments of the market.
* The current edition of this report provides updated financial information/ portfolios of players and updated developments of profiled players from January 2019 to October 2022.
* In the earlier version of the report, 15 companies were profiled. In the updated version, a total of 20 companies have been profiled.
* The competitive landscape chapter has been updated with the market evaluation matrix and start-up/SME evaluation matrix. The competitive landscape also includes market share and revenue analysis, updated competitive leadership mapping, and competitive situations and trends.

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