Growth, Trends, and Opportunities in the NGS-Based RNA-Sequencing Market: Key Insights for the Next Decade
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What is the Long-Term Projected Growth Rate for the NGS-Based RNA-Sequencing Market, and What Are the Key Drivers?
In recent times, there has been a tremendous growth in the market size of NGS-based RNA-sequencing. It is predicted to expand from its current value of $3.41 billion in 2024 to an estimated $4.23 billion in 2025, marking a compound annual growth rate (CAGR) of 24.2%. The observed growth in the historical period is mainly due to factors such as genomic research initiatives, a decrease in sequencing pricing, advancements in drug discovery and development, the rise of personalized medicine, and a surge in the adoption of ngs.
Over the upcoming years, the market size of NGS-based RNA-sequencing is set to experience an explosive increase, reaching up to $10.4 billion in 2029 with a compound annual growth rate (CAGR) of 25.2%. Various factors such as clinical diagnostics, international collaborations, ethical and regulatory guidelines, and research in agriculture and environment, as well as green genomics, are attributions to this expected growth within the forecast period. Notable trends within this time frame encompass single-cell rna-sequencing (scrna-seq), spatial transcriptomics, epitranscriptomics, integration of multi-omics, and sustainable farming.
Which Factors Are Enhancing the Growth of the ngs-based rna-sequencing Market?
The NGS-based RNA sequencing market is being propelled by the rise in precision medicine. This form of medicine facilitates doctors in creating bespoke treatment plans and making clinical decisions grounded in genetic insights of a patient’s illness. There is an escalation in the use of precision medicines in dealing with critical illnesses like cancer. NGS-based RNA sequencing plays a crucial role in pinpointing the origins of the disease, allowing doctors to prescribe the right precision medicine for treatment purposes. For instance, a report issued by the U.S. nonprofit organization, Personalized Medicine Coalition (PMC), in February 2023, revealed that personalized medicines constituted 35% of the fresh NMEs approved in 2021. Even with 12 new approvals in 2022, they have consistently held a share of at least a quarter of all new drug approvals for the past eight years, indicating a notable jump from less than 10% ten years ago. As precision medicine demand grows, so will the demand for NGS-based RNA sequencing.
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Which Companies Are Leading the Charge in Expanding the NGS-Based RNA-Sequencing Market?
Major companies operating in the ngs-based rna-sequencing market include:
• Illumina Inc._x000D_
• Thermo Fisher Scientific Inc._x000D_
• Oxford Nanopore Technologies Ltd._x000D_
• Agilent Technologies Inc._x000D_
• BGI Group_x000D_
What New Trends Are Reshaping the NGS-Based RNA-Sequencing Market and Its Opportunities?
The tendency towards strategic alliances is a major tendency in the NGS-based RNA sequencing market. To break into new markets and make use of each other’s resources, corporations are forming collaborations with NGS-based RNA sequencing businesses. For example, in May 2022, The Biomedical Advanced Research and Development Authority (BARDA), part of the U.S. Department of Health and Human Services, initiated collaborations with various industry and academic partners. The aim of the alliance is to enhance rapid response capability in public health emergencies and to cultivate a new diagnostic method that can detect all known and emerging respiratory RNA viruses in one single test.
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How Are the Key Segments of the NGS-Based RNA-Sequencing Market Impacting Its Expansion and Revenue Streams?
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 Top Regions Fueling 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.
How Is the NGS-Based RNA-Sequencing Market Defined Across Different Regions?
NGS-based RNA-sequencing is used to identify and measure the amount of ribonucleic acid (RNA) present in a biological sample at a certain moment, using next-generation sequencing (NGS). The massively parallel sequencing technology known as ”next-generation sequencing” (NGS) provides extremely high throughput, scalability, and speed. This approach can ascertain the nucleotide sequence of whole genomes or specific DNA or RNA portions.
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