RNA Analysis Market To Generate Revenue worth $14,909.8 Million by 2030
- Published: July 2022
The global RNA analysis market is expected to generate $14,909.8 million revenue in 2030, advancing at a considerable growth rate, of 13.3%, during 2021–2030. The key market drivers include rising preference for RNA sequencing as the standard method for toxicogenomic research and the increasing usage of RNA analysis for developing medicines for diseases that are difficult to treat or have no cure, such as cancer and rare genetic disorders.
The transcriptomics software category is expected to surge at a substantial rate in the future owing to the increasing usage of software for RNA sequencing, as it reduces human error and provides real-time analysis. Additionally, the availability of proteomic and genomic data is becoming easy, as most of the studies are conducted in the electronic format, which is contributing significantly to the adoption of advanced software among end users.
Next-Generation Sequencing Technology Holds Largest Share
The next-generation sequencing technology is used the most widely in transcriptomics, and this category is expected to observe significant growth during the forecast period. This can be attributed to the surge in R&D activities, along with the low cost of NGS methods as compared to traditional sequencing methods and rise in the demand for sequencing-based diagnoses.
Moreover, polymerase chain reaction is ranked second on the basis of its usage in transcriptomics. Its popularity is expected to gain momentum at a decent pace in the coming years owing to the increase in the demand for advanced diagnostic techniques and prenatal genetic testing procedures.
APAC Market To Witness Fastest Growth
The APAC RNA analysis market is expected to grow at the highest CAGR, of 13.7%, during the forecast period. The growth can be attributed to the rising prevalence of chronic and infectious diseases in the region and increasing investment in the technological advancements in transcriptomics.
Moreover, the rising population in developing countries, especially India and China, is playing a major role in propelling the demand for RNA-based drug discovery & development and diagnostics. Additionally, these countries are constantly enhancing their healthcare infrastructure, by providing the opportunity to biopharmaceutical companies to establish their manufacturing as well as R&D facilities.
Product Launches and Innovations Are Key Market Strategies
In recent years, major companies operating in the industry have been involved in several strategies, such as product launches, technological advancements, and collaborations, to improve their position. For instance:
- In June 2022, Bio-Rad launched SEQuoia Express Stranded RNA Library Prep Kit for efficient RNA sequencing workflows in comprehensive transcriptome profiling.
- In February 2022, Merck signed a research agreement with eTheRNA immunotherapies NV to investigate the application of the latter’s mRNA design expertise and LNP-delivery platforms in a few disease areas.
Major players in the RNA analysis market include Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Agilent Technologies Inc., Merck KGaA, QIAGEN N.V., Illumina Inc., F. Hoffmann-La Roche Ltd., Fluidigm Corporation, Danaher Corporation, and Eurofins Scientific SE.