Press release
Strong Growth Ahead: Ribonucleic Acid (RNA) Sequencing Market Size To Grow At Arecord 22.3% Cagr By 2029
Ribonucleic Acid (RNA) Sequencing
How Big Is the Ribonucleic Acid (RNA) Sequencing Market Size Expected to Be by 2034?
The ribonucleic acid (RNA) sequencing market has experienced exponential growth. It will grow from $3.25 billion in 2024 to $3.98 billion in 2025 at a CAGR of 22.7%. This surge stems from increased drug development, the prevalence of genetic and target diseases, use of compact sequencing tools, biomarker profiling, demand for personalized medicine, and more cancer cases.
The ribonucleic acid (RNA) sequencing market is expected to grow exponentially, reaching $8.91 billion by 2029 at a compound annual growth rate (CAGR) of 22.3%. The growth is driven by the demand for rapid and accurate disease diagnosis, growing adoption of real-time polymerase chain reaction, rising demand for on-site diagnostic testing, infectious disease outbreaks, and the need for companion diagnostics. Major trends include disease detection, drug discovery, target validation, biomarker identification, and advancements in DNA sequencing technologies.
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What Are the Emerging Segments Within the Ribonucleic Acid (RNA) Sequencing Market?
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
Subsegments:
1) By Instruments: Next-Generation Sequencers, Microarray Instruments, Single-Cell Rna Sequencing Instruments
2) By Reagents And Kits: Rna Extraction Kits, Rna Sequencing Kits, Library Preparation Kits
3) By Software: Data Analysis Software, Data Management Software, Bioinformatics Software
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What Long-Term Drivers Are Shaping Ribonucleic Acid (RNA) Sequencing Market Trends?
The heightened emphasis on precision medicine is poised to boost the ribonucleic acid (RNA) sequencing market. This approach tailors treatment based on individual genetic and environmental differences. The rise in personalized medicine is due to genomic advancements, regulatory backing, and increasing disease complexity. RNA sequencing enables detailed analysis of RNA expression, alternative splicing, and transcriptome profiling. As per the Personalized Medicine Coalition in February 2024, the FDA approved 16 new personalized therapies for rare diseases in 2023, up from six in 2022. Therefore, the precision medicine trend is advancing the RNA sequencing market.
Who Are the Top Competitors in Key Ribonucleic Acid (RNA) Sequencing Market Segments?
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
What Trends Are Driving Growth in The Ribonucleic Acid (RNA) Sequencing Market?
Prominent companies in the RNA sequencing market are concentrating on RNA next-generation sequencing assays to provide better patient care through data-driven insights and precision medicine. The RNA next-generation sequencing assay is a technology used to analyze the entire exome of a patient. In June 2023, Tempus, a precision medicine company based in the US, introduced Tempus xR, an RNA sequencing assay designed for solid tumors. This new assay comprehensively analyzes the entire transcriptome, focusing on important gene fusions and altered splicing relevant to specific cancer types.
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Which Regions Are Becoming Hubs for Ribonucleic Acid (RNA) Sequencing Market Innovation?
North America was the largest region in the ribonucleic acid (RNA) sequencing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ribonucleic acid (RNA) sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Ribonucleic Acid (RNA) Sequencing Market?
2. What is the CAGR expected in the Ribonucleic Acid (RNA) Sequencing Market?
3. What Are the Key Innovations Transforming the Ribonucleic Acid (RNA) Sequencing Industry?
4. Which Region Is Leading the Ribonucleic Acid (RNA) Sequencing Market?
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