NGS-based RNA-seq Market Worth 2.65 Billion USD by 2022

According to a new market research report “NGS-based RNA-seq Market by Products & Services (Sample Preparation, Consumables, Bioinformatics), Technology (SBS, SMRT), Application (De novo, Transcriptome Epigenetics, Small RNA), End User (Research Centers, BioPharma Companies) – Global Forecast to 2022” published by MarketsandMarkets™, this report studies the global NGS-based RNA-seq market over the forecast period of 2017 to 2022.

The global NGS-based RNA-seq market is projected to reach USD  2.65 Billion by 2022 from USD 1.05 Billion in 2017, at a CAGR of 20.2%.

The advantages of RNA-seq over microarray technology, technological advancements in RNA-seq products, increasing number of RNA-Seq grants, increasing number of research activities, and rapid growth in precision medicine are the key factors driving the growth of the market. On the other hand, lack of skilled professionals and standardization concerns of RNA-seq in diagnostic testing are some of the key factors limiting the growth of the market. The increasing applications of RNA-seq in research are expected to provide a wide range of growth opportunities for players in the market. Storage and interpretation of sequencing data and analysis of RNA-seq data for novel transcripts are expected to challenge market growth.

In 2016, the sequencing platforms and consumables segment is expected to account for the largest share of the market. The data analysis, storage, and management is expected to register the highest growth rate owing to its development of more efficient data analysis solutions and growing computational capabilities of data analytics providers. Research centers and academic & government institutes segment accounted for the largest share of the global market in 2016 due to the increasing focus of market players on providing efficient RNA-seq products & services for research applications and the growing number of government funding programs. However, the hospitals and clinics segment is expected to register the highest growth due to the growing number of agreements between companies and hospitals for the development of advanced tests and products catering to the specific needs of hospitals and clinics. Based on applications, the market is categorized into four segments, namely, de novo transcriptome assembly, expression profiling analysis, variant calling & transcriptome epigenetics, and small RNA sequencing. The expression profiling analysis segment accounted for the major share of the global NGS-based RNA-seq market owing to the technological advantages of expression profiling applications.

As of 2016, Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), and Pacific Biosciences of California, Inc. (U.S.), holds the leading position in the global NGS-based RNA-seq market. In the past three years, these companies adopted product launches & product enhancements, agreements, collaborations, and partnerships as their key business strategies to ensure market dominance. QIAGEN N. V. (Germany), BGI (China), Oxford Nanopore Technologies, Ltd. (U.K.), PerkinElmer, Inc. (U.S.), GATC Biotech AG (Germany), Agilent Technologies, Inc. (U.S.), Roche Holding AG (Switzerland), Macrogen, Inc. (South Korea), and Eurofins Scientific (Luxembourg) are some of the other major players in this market.

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