RNA Analysis Market Revenue Outlook by Product (Consumables, Instruments, Software), Technology (Next-Generation Sequencing, Polymerase Chain Reaction, Microarray, Mass Cytometry), Application (Drug Discovery and Development, Diagnostics, Cell Biology, Single Cell Analysis, Gene Expression), End-User (Academic and Research Institutions, Biotechnology and Biopharmaceutical Companies) – Forecast to 2030

Market Overview

The global RNA analysis market is predicted to value $14,909.8 million in 2030, growing from $4,833.4 million in 2021 at a CAGR of 13.3% during 2021–2030. The surge in the preference for personalized medicine, increase in the government funding for omics and pharma and biotech R&D expenditure, rise in the number of RNA sequencing applications, and development of new transcriptomics products by a large number of key players are driving the global RNA analysis/transcriptomics market.

Moreover, the development of several potential technologies, such as antisense technology, SMaRT technology, and RNA interference technology, is predicted to offer substantial opportunities for companies offering RNA-based therapies and vaccines during the forecast period.

Usage of Transcriptomics Software To Gain Momentum

Transcriptomics consumables are the largest category in the product segment, and they are expected to retain their position in the coming years owing to the increasing R&D activities in the pharmaceutical industry, as well as the rising government funding for research in life sciences. For instance, in March 2022, the Government of Canada provided federal support of $13.8 million to mobilize genomics through 10 downstream R&D projects.

Transcriptomics software is expected to witness the fastest growth, at a CAGR of more than 14%, during the forecast period. This is largely attributed to the availability of proteomic and genomic data easily in the coming years, which would help researchers conduct studies.

Next-Generation Sequencing Technology Is Used Widely

Next-generation sequencing is one of the most-widely used technologies for transcriptomics, accounting a more than 30% market share in 2021, and it is expected to maintain its position throughout this decade. The growth in the field of precision medicine, along with the increase in the number of research studies involving RNA sequencing owing to its advantages over conventional technologies, is credited for the growth of this category. Essentially, the increasing usage of RNA sequencing in cancer and agricultural research is propelling the market growth.

Furthermore, the demand for sequencing-based diagnostics has surged significantly in the past few years, thus resulting in the development of new technologies as well as the increasing demand for equipment such as high-throughput sequencers. Thus, companies are focusing on new product development; for instance, CureVac N.V. has established CureVac RNA Printer GmbH, a subsidiary, to advance The RNA Printer.

RNA Analysis Majorly Carried Out for Drug Discovery & Development

Transcriptomics is largely used in drug discovery & development, which accounted for a 29.5% share in 2021. The advent of RNA-based therapeutics is one of the major factors influencing the implementation of RNA analysis in the drug discovery & development process. RNA-based drugs are being explored for difficult-to-treat diseases and those currently without a cure, such as rare genetic disorders, cancer, AIDS, and diabetes. Companies operating in this space are collaborating for the development of drugs based on RNA. For instance, Otsuka Pharmaceutical Co. Ltd. is collaborating with xFOREST Therapeutics Co. Ltd. to create RNA structure-targeted drugs for multiple diseases.

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Regional Outlook

The North American RNA analysis market share was around 40% in 2021, with the U.S. dominating the market and Canada likely to undergo the faster growth during the forecast period. This growth is attributed to the favorable government initiatives for pharmaceutical R&D, surge in healthcare expenditure, and improvement in the access to advanced healthcare infrastructure. Moreover, the large number of cancer patients and high prevalence of other chronic diseases are boosting the growth. Additionally, the majority of the key pharma and biopharma companies are headquartered in the region, especially in the U.S.

Europe is the second-highest-revenue-generating region, and the industry here is expected to grow at a significant CAGR in the coming years, owing to the non-profit establishments that have combined their financial resources to speed up the development of RNA-based treatments, in response to the growing demand for RNA therapies to address unmet medical needs. Furthermore, the increasing need for personalized medicines, for better clinical results and pharmaceutical safety, has aided the market expansion. The continent is home to a large number of cancer patients who require personalized therapy.

The major countries in the region include Germany, the U.K., France, Spain, and Italy, with Germany dominating the market. Additionally, the U.K. is expected to be the fastest growing owing to government initiatives, such as the one launched in 2020 to establish an advanced genomics-driven healthcare system.

APAC, the third-largest region, is projected to grow at the highest rate during the forecast period, owing to the increasing number of manufacturing plants of biopharmaceutical companies. For instance, Moderna plans to open four new subsidiaries in Taiwan, Singapore, Malaysia, and Hong Kong. Moreover, the target specificity and selectivity of RNAi treatments, along with the usage of virtual drug development models and more-intensive product emphasis versus platform technologies, which enable companies to cut research costs, are driving the market expansion in the region.

The LATAM and MEA regions will also witness substantial growth during the forecast period owing to the increasing incidence of genetic disorders in the region and the lack of proper treatments. In the LATAM region, Brazil accounts for more than half the market share, and Mexico is set to grow at a significant rate. In the MEA region, South Africa has a high potential due to the massive unmet requirement for treatments for a large number of diseases.

Business Opportunities

• The usage of biomarker identification in clinical applications has streamlined drug discovery & development techniques for assessing medication toxicity and efficacy. Furthermore, biomarkers for neurological diseases, CVDs, and cancer are crucial in gaining a better knowledge of disease mechanism and progression. The microarray technique utilized in transcriptome analysis has a wide usage prospect in genetic disease research.
• RNA sequencing has developed as a standard method for toxicogenomic research. Three animals per group are widely utilized in modern toxicogenomic research under the 3-R (reduce, refine, and replace) guidelines, for animal welfare & protection.
• RNA analysis is being conducted to get clinical guidance on anti-inflammatory drugs and understand the SARS-CoV-2 (HCoV-19) infection’s molecular mechanisms, to come up with effective therapeutics, via the transcriptome sequencing of RNAs isolated from the peripheral blood mononuclear cells (PBMCs) and bronchoalveolar lavage fluid (BALF) specimens of COVID-19 patients.

Key Strategic Developments

In recent years, major players in the RNA analysis market have been actively involved in collaborations and product launches to enhance their capabilities and offerings. For instance:

• In June 2022, Fluent BioSciences launched the PIPseqTM technology for single-cell RNA analysis in laboratories.
• In February 2022, QIAGEN partnered with Singular Genomics Systems Inc. to get their QIAseq kits validated.

Key Players in RNA Analysis Market Are:

• Thermo Fisher Scientific Inc.
• Merck KGaA
• Bio-Rad Laboratories Inc.
• Illumina Inc.
• Agilent Technologies Inc.
• QIAGEN N.V.
• Danaher Corporation
• F. Hoffmann-La Roche Ltd.
• Fluidigm Corporation
• Eurofins Scientific SE

Market Size Breakdown by Segment

The study offers a comprehensive market segmentation analysis along with market estimation for the period 2017-2030.

Based on Product

• Consumables
• Instruments
• Software

Based on Technology

• Next-Generation Sequencing
• Polymerase Chain Reaction
• Microarray
• Mass Cytometry

Based on Application

• Drug Discovery and Development
• Diagnostics
• Cell Biology
• Single Cell Analysis
• Gene Expression

Based on End-User

• Academic and Research Institutions
• Biotechnology and Biopharmaceutical Companies

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Singapore
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • Saudi Arabia
  • South Africa