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What Is the Growth Rate of the NGS-Based RNA-Sequencing Market?
The market size for NGS-based RNA-sequencing has experienced substantial growth recently. It is expected to expand from $3.41 billion in 2024 to $4.23 billion in 2025, indicating a compound annual growth rate (CAGR) of 24.2%. The impressive growth during the historical period is due to factors such as genomic research initiatives, a decrease in sequencing expenses, advancements in drug discovery and development, personalized medicine, and the rising adoption of NGS.
What Growth Rate Is Forecasted for the NGS-Based RNA-Sequencing Market by 2029?
The market size for NGS-based RNA-sequencing is predicted to experience significant expansion in the coming years. It is projected to reach a value of $10.4 billion in 2029, with a compound annual growth rate (CAGR) of 25.2%. The anticipated growth during this forecast period can be linked to factors such as clinical diagnostics, international collaborations, ethical and regulatory structures, research in agriculture and environment, and green genomics. Key trends anticipated during this forecast period are single-cell rna-sequencing (scrna-seq), spatial transcriptomics, epitranscriptomics, multi-omics integration, and sustainable agriculture.
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Which Key Companies Are Shaping the Future of the NGS-Based RNA-Sequencing Market?
Major companies operating in the ngs-based rna-sequencing market include Illumina Inc., Thermo Fisher Scientific Inc., Oxford Nanopore Technologies Ltd., Agilent Technologies Inc., BGI Group, QIAGEN N.V., PerkinElmer Inc., Eurofins Scientific SE, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., Hamilton Company, Takara Bio Inc., Tecan Trading AG, GENEWIZ Inc., Novogene Corporation, Macrogen Inc., Zymo Research Corp., Lexogen GmbH, Partek Incorporated, GATC Biotech AG, Becton, Dickinson and Company, Genohub LLC, BaseClear B.V., Genewave SAS, Otogenetics Corporation, SeqLL LLC, GenXPro GmbH, Genotypic Technology Pvt. Ltd.
Which Factors Are Driving Demand in the NGS-Based RNA-Sequencing Industry?
The NGS-based RNA sequencing market is experiencing growth due to the rise in precision medicine. This type of medicine utilizes genetic information about a patient’s disease to guide doctors in crafting personalized treatment plans and making care decisions. There has been a surge in developing precision medicines to treat serious illnesses like cancer. NGS-based RNA sequencing plays a crucial role in divulging the fundamental cause of disease and recommending specific precision medicine for therapy. As an example, a report by the US-based charity Personalized Medicine Coalition (PMC) in February 2023 showed that personalized medicines represented 35% of all newly approved NMEs in 2021. Despite 12 new approvals in 2022, they have consistently constituted at least a quarter of all new drug approvals for the last eight years, a substantial leap from less than 10% ten years back. As precision medicine becomes more in demand, then NGS-based RNA sequencing demand will also rise.
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How Is the NGS-Based RNA-Sequencing Market Segmented by Several Divisions?
The ngs-based rna-sequencing market covered in this report is segmented –
1) By Product And Service: Sample Preparation Products, Sequencing Platforms and Consumables, Sequencing Services, Data Analysis, Storage, and Management
2) By Technology: Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing
3) By Application: Expression Profiling Analysis, Small RNA Sequencing, De Novo Transcriptome Assembly, Variant Calling and Transcriptome Epigenetics
4) By End User: Research & Academia, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Other End Users
Subsegments:
1) By Sample Preparation Products: RNA Extraction Kits, Library Preparation Kits, Reverse Transcription Kits, Quality Control Reagents
2) By Sequencing Platforms And Consumables: Sequencing Instruments, Sequencing Consumables
3) By Sequencing Services: Contract Sequencing Services, Custom Library Preparation Services, Consultation And Experimental Design Services
4) By Data Analysis, Storage, And Management: Bioinformatics Software, Data Analysis Services, Cloud-Based Data Storage Solutions, Data Management Platforms
What are the Emerging Market Trends Driving the Growth of the NGS-Based RNA-Sequencing Industry?
The NGS-based RNA sequencing market is noting a significant trend of Strategic Partnership. Companies are forming alliances with NGS-based RNA sequencing firms to not only break into new markets but also make the most of one another’s resources. For example, in May 2022, the Biomedical Advanced Research and Development Authority (BARDA), a part of the U.S. Department of Health and Human Services, entered into collaboration with various industry and academic collaborators. The purpose of this collaboration is to boost the ability to promptly respond to public health crises and construct an innovative diagnostic tool that can detect all known and upcoming respiratory RNA viruses in one singular test.
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Which Regions Are Driving Growth in the NGS-Based RNA-Sequencing Market?
North America was the largest region in the NGS-based RNA sequencing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ngs-based rna-sequencing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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This Report Delivers Insight On:
1. How big is the ngs-based rna-sequencing market, and how is it changing globally?
2. Who are the major companies in the ngs-based rna-sequencing market, and how are they performing?
3. What are the key opportunities and risks in the ngs-based rna-sequencing market right now?
4. Which products or customer segments are growing the most in the ngs-based rna-sequencing market?
5. What factors are helping or slowing down the growth of the ngs-based rna-sequencing market?
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