NGS-based RNA-seq Market Driven by Increasing Number of Research Activities Involving RNA-seq
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%.
(businesspress24) - The 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", analyzes and studies the major market drivers, restraints, opportunities, and challenges in North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
Factors such as 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 driving the growth of the market.
On the basis of product and service, the NGS-based RNA-seq market is categorized into sample preparation, sequencing platforms and consumables, sequencing services, and data analysis, storage, & management. In 2016, the sequencing platforms and consumables segment accounted for the largest share of the market. The data analysis, storage, and management is expected to register the highest CAGR during the forecast period primarily due to development of more efficient data analysis solutions and growing computational capabilities of data analytics providers.
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Geographically, the NGS-based RNA-seq market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. North America accounted for the largest share of the market in 2016, followed by Europe. The market in North America is primarily driven by government support through funds for genomics research, advancements in RNA-seq products, growing prevalence of target diseases, growing research on cancer and inherited rare diseases, and the strong presence of key players in this region. However, Asia-Pacific is expected to register the highest growth rate during the forecast period from 2017 to 2022, due to the significant focus on R&D activities as a means of broadening the scope of RNA-seq applications and decreasing the costs of NGS products & services in this region.
The major players of the market are Illumina, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.), QIAGEN N. V. (Germany), Pacific Biosciences of California, Inc. (U.S.), 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).
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The market is characterized by high competition and innovative product launches. Oxford Nanopore Technologies (U.K.) is a strong emerging market player with strong innovative solutions based on nanopore sequencing technology. For instance, in December 2016, Oxford Nanopore Technologies introduced its direct RNA sequencing kits to a small number of researchers. Additionally, in June 2014, F. Hoffmann-La Roche AG acquired Genia Technologies, Inc. (U.S.), to enhance its sequencing platform capabilities using nanopore technology.
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