The global transcriptomics market was valued at $1,743.2 in 2013. This market is expected to reach $3,773.0 million by 2019 at a CAGR of 13.7% from 2014 to 2019. In this report, the global transcriptomics market is segmented as by technology, by applications, and by end-users. Market by technology comprises of microarray, PCR, sequencing, and RNAi gene silencing technologies whereas, the market by applications include clinical diagnostics, drug discovery, and toxicogenomics. The market by end-users includes pharmaceutical and biotechnology companies, academic research and government institutes, and hospitals and diagnostic centers.
The transcriptomics market has witnessed significant growth in the past few years mainly due to the increasing technological advancements in the field of ‘omics’ research and application of sequencing technologies in RNA Analysis research. Similarly, the increasing government and private funding for research coupled with research and development investments by the biotechnology companies are expected to drive the transcriptomics market. Similarly, the application of RNA Analysis in the field of biomarker discovery opens new growth avenues with the rising preference of personalized medicine across the globe. However, the higher investment costs that restrict the adoption of RNA Analysis products and dearth of skilled professionals are the factors hampering the growth of this market to a certain extent.
The RNA Analysis technologies market comprises of microarray, PCR, sequencing including Sanger sequencing and NGS, and RNAi gene silencing. Each of these technologies are further segmented into reagents, instruments, and software. PCR technology has dominated the market due to its increasing application in RNA sequencing.. However, the sequencing segment including NGS is expected to grow at a higher CAGR due the increase in read lengths facilitated by this technology, reduced costs, and faster sequencing from existing platforms.
North America holds the largest share of the global transcriptomics market. However, in the forthcoming years, developing regions such as Asia-Pacific (Japan, China, and India) and Latin America are expected to form new revenue-generating pockets for the market players. Economic developments and growing government funding to support new product developments are the key factors driving the growth of market in developing regions.
The market is dominated by players such as Affymetrix Inc. (U.S.), Agilent Technologies Inc. (U.S.), Bio-Rad Laboratories Inc. (U.S.), GE Healthcare (U.S.), Illumina Inc. (U.S.), Qiagen N.V. (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Sigma Aldrich (U.S.), Fluidigm Corporation (U.S.) and Thermofisher Scientific Inc. (U.S.).