NGS-Based RNA-Sequencing Global Market Report 2024

NGS-based RNA-sequencing is a technique employed to identify and quantify the amount of ribonucleic acid (RNA) present in a biological sample at a specific moment, utilizing next-generation sequencing (NGS). Next-generation sequencing, characterized by massively parallel sequencing technology, offers exceptionally high throughput, scalability, and speed, allowing for the determination of nucleotide sequences in whole genomes or specific DNA/RNA segments.

The primary products and services associated with NGS-based RNA sequencing include sample preparation products, sequencing platforms and consumables, sequencing services, and data analysis, storage, & management. Sample preparation products facilitate the adherence of DNA or RNA to the sequencing flowcell, enabling sample identification. The sample preparation process involves converting nucleic acid mixtures from biological samples into various libraries, preparing them for NGS technologies. Technologies involved in NGS encompass sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, and nanopore sequencing. These sequencing methods find application in expression profiling analysis, small RNA sequencing, de novo transcriptome assembly, variant calling, and transcriptome epigenetics. NGS-based RNA-sequencing is utilized by a range of end users, including research & academia, hospitals & clinics, pharmaceutical & biotechnology companies, and other entities in the scientific community.

The NGS-based RNA sequencing market research report is one of a series of new reports that provides NGS-based RNA sequencing market statistics, including NGS-based RNA sequencing industry global market size, regional shares, competitors with a NGS-based RNA sequencing market share, detailed NGS-based RNA sequencing market segments, market trends and opportunities, and any further data you may need to thrive in the NGS-based RNA sequencing industry. This NGS-based RNA sequencing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The ngs-based rna-sequencing market size has grown exponentially in recent years. It will grow from $2.79 billion in 2023 to $3.49 billion in 2024 at a compound annual growth rate (CAGR) of 24.9%. The growth observed in the historical period can be attributed to several factors, including initiatives in genomic research, a decrease in sequencing costs, advancements in drug discovery and development, the progression of personalized medicine, and the rising adoption of next-generation sequencing (NGS).

The ngs-based rna-sequencing market size is expected to see exponential growth in the next few years. It will grow to $8.39 billion in 2028 at a compound annual growth rate (CAGR) of 24.5%. The anticipated growth in the forecast period can be linked to various factors, including expansion in clinical diagnostics, increased global collaborations, the establishment of ethical and regulatory frameworks, heightened focus on agricultural and environmental research, and the emergence of green genomics. Significant trends expected in this forecast period encompass the utilization of single-cell RNA-sequencing (scRNA-seq), spatial transcriptomics, exploration of epitranscriptomics, integration of multi-omics approaches, and a growing emphasis on sustainable agriculture.

The NGS-based RNA sequencing market is witnessing growth driven by the expansion of precision medicine. Precision medicine plays a crucial role in tailoring treatment plans and decisions based on the genetic understanding of a patient's disease. This approach, particularly prevalent in treating severe conditions like cancer, relies on NGS-based RNA sequencing to identify the root cause of diseases and prescribe specific precision medicines. Notably, the Swedish Government's investment of $21.15 million in Genomic Medicine Sweden in September 2021 exemplifies the global rise in demand for precision medicines, consequently increasing the demand for NGS-based RNA sequencing.

The anticipated growth in the pharmaceutical industry is poised to propel the NGS-based RNA-sequencing market. This sector, dedicated to drug discovery, development, and production, extensively utilizes NGS-based RNA sequencing to analyze gene expression comprehensively. The application of this technology aids in identifying potential drug targets, assessing drug responses, and understanding disease mechanisms, thereby enhancing drug discovery and development. Reports from May 2021 by IQVIA Inc. project a substantial increase in pharmaceutical expenditure in the US by 2025, ranging between $380 and $400 billion. This growth underscores the pivotal role of the pharmaceutical industry in driving the expansion of the NGS-based RNA-sequencing market.

A notable trend in the NGS-based RNA sequencing market is the formation of strategic partnerships. Companies are increasingly engaging in partnerships with NGS-based RNA sequencing firms to enter new markets and leverage collective resources. For instance, in May 2022, The Biomedical Advanced Research and Development Authority (BARDA) partnered with multiple industry and academic collaborators to enhance diagnostic capabilities for respiratory RNA viruses. Such strategic partnerships contribute to bolstering the capacity to respond swiftly to public health emergencies and advance diagnostic capabilities.

Major companies in the NGS-based RNA-sequencing market are concentrating on innovative products to meet the growing demand for RNA sequencing. One such innovation is the development of ultra-fast RNA methods for molecular testing and life science research applications, offering exceptionally rapid RNA sequencing or analysis. In March 2022, Quantabio launched the sparQ RNA-Seq HMR Kit, an ultra-fast RNA library preparation tool designed for precision oncology applications. This kit enables the generation of high-quality NGS sequencer-ready libraries from intact or degraded samples in a single day.

In April 2021, Agilent Technologies, Inc. acquired Resolution Bioscience for $695 million, aiming to expand its capabilities in NGS-based cancer diagnostics. This strategic move enhances Agilent's position in serving clinical diagnostics and biopharma customers, meeting the demands of the rapidly expanding precision medicine market. Resolution Bioscience, a company specializing in NGS-based precision oncology solutions, complements Agilent's offerings in the diagnostics and genomics sectors.

Major companies operating in the ngs-based rna-sequencing market include Illumina Inc., Thermo Fisher Scientific Inc., Oxford Nanopore Technologies Ltd., Agilent Technologies Inc., BGI Group, QIAGEN N.V., PerkinElmer Inc., Eurofins Scientific SE, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., Hamilton Company, Takara Bio Inc., Tecan Trading AG, GENEWIZ Inc., Novogene Corporation, Macrogen Inc., Zymo Research Corp., Lexogen GmbH, Partek Incorporated, GATC Biotech AG, Becton, Dickinson and Company, Genohub LLC, BaseClear B.V., Genewave SAS, Otogenetics Corporation, SeqLL LLC, GenXPro GmbH, Genotypic Technology Pvt. Ltd.

North America was the largest region in the NGS-based RNA sequencing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in NGS-based RNA sequencing market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the NGS-based RNA sequencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The NGS-based RNA-sequencing market includes revenues earned by ribosomal RNA (rRNA), transfer RNA (tRNA), long ncRNA and many smaller ncRNAs such as microRNA. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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