The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

In the ever-evolving landscape of medical diagnostics, the global NGS-based RNA sequencing market is emerging as a cornerstone of precision medicine and advanced research. From $2.22 billion in 2022, the market soared to $2.74 billion in 2023, boasting an impressive compound annual growth rate (CAGR) of 23.5%. Despite global disruptions caused by the Russia-Ukraine war, the market is on a trajectory for substantial expansion, projecting a robust size of $6.3 billion by 2027 with a CAGR of 23.1%. Let’s explore the key drivers, trends, and regional dynamics propelling this exponential growth.

1. Precision Medicine Pioneering Progress

The proliferation of precision medicine is steering the NGS-based RNA sequencing market. Precision medicine, which tailors treatment plans based on a patient’s genetic profile, has witnessed substantial growth, especially in severe diseases like cancer. The demand for precision medicines is escalating, fueling the need for NGS-based RNA sequencing. Investments, such as the Swedish Government’s $21.15 million injection into Genomic Medicine Sweden, underscore the global commitment to integrating precision medicine into healthcare, spurring further demand for advanced sequencing technologies.

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2. Industry Leaders: Illumina, Thermo Fischer, and More

Major players, including Illumina, Thermo Fischer Scientific, and Oxford Nanopore, are at the forefront of driving advancements in NGS-based RNA sequencing market. Their contributions to research and development, innovative technologies, and strategic partnerships are pivotal in shaping the market’s trajectory.

3. Trending Horizons: Strategic Partnerships

Strategic partnerships stand out as a key trend in the NGS-based RNA sequencing market. Collaborations between industry players and academic partners, such as the one between BARDA and multiple partners, aim to enhance diagnostic capabilities. Illumina’s partnership with IDbyDNA and Agilent Technologies’ acquisition of Resolution Bioscience showcase the industry’s commitment to expanding capabilities, fostering growth, and meeting the demands of the precision medicine market.

4. Unraveling Genomic Mysteries: Technological Advancements

Technological advancements in NGS-based RNA sequencing are pivotal in unraveling the complexities of the human genome. Innovations like Illumina’s high-fidelity NGS analysis and Resolution Bioscience’s liquid biopsy-based diagnostic technologies are setting new standards. These advancements not only facilitate accurate diagnostics but also open avenues for growth in diagnostics and genomics sectors.

5. Regional Dynamics: North America Leads, Asia-Pacific Surges Ahead

North America took the lead in the NGS-based RNA sequencing market in 2022. However, the spotlight is shifting to Asia-Pacific, expected to be the fastest-growing region. The comprehensive market analysis encompasses regions such as Western and Eastern Europe, North and South America, the Middle East, and Africa.

6. Segments Driving Progress:

• Product and Service Diversity: Offering a comprehensive suite, the NGS-based RNA sequencing market segments include Sample Preparation Products, Sequencing Platforms and Consumables, Sequencing Services, and Data Analysis, Storage, and Management.
• Technological Spectrum: Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, and Nanopore Sequencing constitute the technological backbone.
• Applications Galore: The applications span Expression Profiling Analysis, Small RNA Sequencing, De Novo Transcriptome Assembly, and Variant Calling and Transcriptome Epigenetics, catering to diverse research and diagnostic needs.
• End-User Dynamics: With a focus on Research & Academia, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, and Other End Users, the NGS-based RNA sequencing market addresses the unique requirements of various stakeholders.

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For stakeholders navigating the dynamic NGS-based RNA sequencing market landscape, comprehensive market reports are indispensable tools. These reports offer in-depth insights into segment-specific trends, regional dynamics, and emerging opportunities. Stakeholders, including researchers, clinicians, and industry players, can leverage these NGS-based RNA sequencing market reports to align strategies with market insights, ensuring a competitive edge in this rapidly evolving field.

The NGS-Based RNA-Sequencing Global Market Report 2023  provides a comprehensive overview on the tNGS-based RNA sequencing market size, NGS-based RNA sequencing market trends and NGS-based RNA sequencing market drivers, NGS-based RNA sequencing market opportunities, strategies, and NGS-based RNA sequencing market analysis. The countries covered in the NGS-based RNA sequencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the NGS-based RNA sequencing market major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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