Transcriptomics Market by Type (Consumables, Instruments, Software, and Services), Technology (Microarrays, Qpcr, and Sequencing Technology), Application (Drug Discovery, Diagnostics & Disease Profiling, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030
The transcriptomics market was valued at $5,790.51 million in 2020, and is estimated to reach $11,397.08million by 2030, growing at a CAGR of 7.0% from 2021 to 2030.Transcriptomics is the collection and study of RNA present in different types of cells and tissues in an organism. It is a promising tool for discovery of basic gene expression patterns, determination of drug-induced toxicity in adverse drug reactions, and other uses in the medical field. It is an analysis of transcriptome. RNA performs many functions within the cell and studying the transcriptome provides insights into how genes are working and whether proteins are being produced.
Increase in advancements in the field of transcriptomics such as extensive use of RNA-sequencing and rise in application of transcriptomics such as drug discovery are expected to drive the growth of the market. Moreover, other factors that fuel the market growth include increase in adoption of transcriptomics products and rise in demand for personalized medicine. In addition, many companies have increased their market presence, thereby expanding their business across new markets. For instance, in February 2020, Dovetail Genomics announced the launch of its Dovetail HichlP and Micro-C kits. These aforementioned factors have led to increase in the growth of the transcriptomics market.
Furthermore, the high demand for diagnostic of inflammatory diseases such as COVID-19, and rise in production of transcriptomics instruments to boost the growth of the market. In addition, in February 2020, Caris Life Sciences launched its new MI transcriptome, which enables whole transcriptome sequencing. MI transcriptome uses the high capability of sequencing to gain insight into the RNA profiles of tumor patients. Thus, increased availability of transcriptomics instruments propels the growth of the transcriptomics market.
Conversely, high capital investment in the implementation of transcriptomics is anticipated to hinder the market growth. People, nowadays are more aware of health, which, in turn, compels them to maintain their health condition and increase demand for diagnosis of various diseases. This has further encouraged many key players to enter emerging markets, thus offering a lucrative growth opportunity in the transcriptomics market.
The global transcriptomics market is segmented on the basis of type, technology, application, and region. By type, the market is categorized into consumables, instruments, software, and services.
On the basis of technology, the market is divided into microarrays, q PCR, and sequencing technology.
Depending on application, it is fragmented into drug discovery, diagnostics, disease profiling, and others. On the basis of end user, it is divided into government institutes & academic centers, pharmaceutical & biotechnology companies and contract research organizations. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global transcriptomics market are Agilent Technologies Inc, Bio-Rad Laboratories, F-Hoffmann La-Roche, Fluidigm Corporation, General Electric Company, Illuminia Inc., Merck & Co. Inc, Promega Corporation, QiagenInc, and ThermoFisher Scientific.
KEY BENEFITS FOR STAKEHOLDERS • This report provides an extensive analysis of the current and emerging market trends and dynamics in the global transcriptomics market to identify the prevailing opportunities.
• This study presents the competitive landscape of the global market to predict the competitive environment across geographies.
• Comprehensive analysis of factors that drive and restrict the market growth is provided.
• Region- & country-wise analysis is provided to understand the market trends and dynamics.
KEY MARKET SEGMENTS
By Product& Services Type o Consumables
By Technology o Microarrays
o q PCR
o Sequencing Technology
By Application o Drug Discovery
o Diagnostics and Disease Profiling
By End User o Government Institutes & Academic Centers
o Pharmaceutical & Biotechnology Companies
o Contract Research Organizations
By Region o North America
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
KEY MARKET PLAYERS • Agilent Technologies Inc.
• Bio-Rad Laboratories
• F-Hoffmann La-Roche
• Fluidigm Corporation
• General Electric Company
• Illuminia Inc. •
• Merck & Co. Inc •
• Promega Corporation
• QiagenInc •
• Thermofisher Scientific
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The Asia Pacific Transcriptomics Market would witness market growth of 8.3% CAGR during the forecast period (2021-2027). Transcriptomics is the exploration of the transcriptome, which is the entire set of RNA transcripts produced by the genome under certain conditions or in a specific cell, utilizing high-throughput technologies like...
The Europe Transcriptomics Market would witness market growth of 7.1% CAGR during the forecast period (2021-2027). The transcriptomics market is predicted to grow due to developments in the domain of transcriptomics, such as the widespread use of RNA-sequencing and an increase in applications of transcriptomics, such as drug discovery....
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The North America Transcriptomics Market would witness market growth of 6.9% CAGR during the forecast period (2021-2027). Technological improvements and a surge in research grants from various institutes are two reasons that are expected to propel the transcriptomics market during the forecasting period. Moreover, the potential for...