What’s Driving Growth in the Ribonucleic Acid (RNA) Sequencing Market? Insights into Key Trends and Opportunities
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What is the Anticipated CAGR of the Ribonucleic Acid (RNA) Sequencing Market, and What Factors Will Drive It?
The market size for ribonucleic acid (RNA) sequencing has seen an exponential increase in the recent past. It is projected to expand from $3.25 billion in 2024 to $3.98 billion in 2025, with a compound annual growth rate (CAGR) of 22.7%. The significant growth during the historic period is linked to the surge in drug development activities, increased incidence of genetic disorders and target diseases, rising adoption of compact portable instruments, escalating application of biomarker profiling, growing preference for personalized medicine, and an increase in cancer patient numbers.
The market size for RNA (ribonucleic acid) sequencing is anticipated to experience a massive growth in the upcoming years, reaching $8.91 billion in 2029 with a compound annual growth rate (CAGR) of 22.3%. Factors contributing to this predicted growth during the forecast period includes an elevated demand for reliable and quick disease diagnosis, a rise in the utilization of real-time polymerase chain reaction, an increase in the requirement for swift and on-the-spot diagnostic testing, an upsurge in infectious disease epidemics, and an increased requirement for companion diagnostics. The main trends anticipated in the forecast period encompass disease discovery and tracking, drug development, target verification, biomarker discovery, DNA sequencing technologies, advancements in diagnostic testing, next-generation sequencing (NGS), microfluidics, lab-on-a-chip platforms, and the advancement of sophisticated molecular diagnostic solutions.
How Are the key drivers expanding the growth of the Ribonucleic Acid (RNA) Sequencing Market?
The upward trajectory of the ribonucleic acid (RNA) sequencing market is projected to continue, fueled by an intensified interest in precision medicine. This medical paradigm – also known as personalized medicine – is a revolutionary approach to treatment and prevention that takes into account individual differences in genetics, environmental factors and lifestyle habits. Personalized medicine shows potential for enhancing the effectiveness of treatments through leveraging advancements in genomics, addressing increasing disease complexity, and obtaining regulatory backing. RNA sequencing methodologies are of paramount importance to ascertain both the sequencing and quantification of RNA molecule expression levels in a sample. This comprehensive transcriptome analysis allows for deeper understanding of gene expression patterns, alternate splicing events, and modifications to RNA. Illustrating this point, the Personalized Medicine Coalition, a non-profit organization based in the US, reported in February 2024 that the FDA had granted approval to 16 new personalized treatments for rare disease patients in 2023, while only six such treatments had been approved the previous year. Consequently, the growing emphasis on precision medicine is bolstering the growth of the ribonucleic acid (RNA) sequencing market.
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Who Are the Top Companies Contributing to the Growth of the Ribonucleic Acid (RNA) Sequencing Market?
Major companies operating in the ribonucleic acid (RNA) sequencing market are:
• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific Inc.
• Danaher Corporation
• Merck KGaA
• Becton
How Are Technological Trends Affecting the Growth and Development of the Ribonucleic Acid (RNA) Sequencing Market?
In the ribonucleic acid (RNA) sequencing market, leading firms are focusing their efforts on RNA next-generation sequencing assays. Their primary objective is to enhance patient care using precise data insights and precision medicine. These assays represent a new era of exome sequencing platforms that utilize sophisticated genomic sequencing technologies to examine a patient’s entire exome. For instance, in June 2023, Tempus, an American firm specializing in precision medicine technologies, launched its unique standalone RNA next-generation sequencing assay, Tempus xR. This groundbreaking assay is designed specifically for solid tumors and provides a comprehensive overview of the entire transcriptome. Notably, it discerns clinically significant fusions in more than 100 targeted genes and identifies altered splicing for MET Exon 14 and EGFRvIII. The Tempus xR assay is particularly beneficial for physicians interested in RNA fusions or altered splicing, and for providers, researchers, and biopharma companies in need of in-depth RNA sequencing analysis for their samples.
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What Are the Major Categories and Their Growth Dynamics in the Ribonucleic Acid (RNA) Sequencing Market?
The ribonucleic acid (RNA) sequencing market covered in this report is segmented –
1) By Product Type: Instruments, Reagents And Kits, Software
2) By Technology: Single Molecule Based Sequencing, Sequence By Synthesis Technology, Nanopore Sequencing Technology, Ion Torrent Semiconductor Sequencing
3) By Applications: Diagnostics, Drug Discovery, Translational Medicine, Other Applications
4) By End User: Research And Academia, Hospitals And Clinics, Pharmaceutical And Biotechnology Companies, Other End Users
Subsegments:
1) By Instruments: Next-Generation Sequencers, Microarray Instruments, Single-Cell Rna Sequencing Instruments
2) By Reagents And Kits: Rna Extraction Kits, Rna Sequencing Kits, Library Preparation Kits
3) By Software: Data Analysis Software, Data Management Software, Bioinformatics Software
What Are the Key Regions Powering Growth in the Ribonucleic Acid (RNA) Sequencing Market?
North America was the largest region in the ribonucleic acid (RNA) sequencing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ribonucleic acid (RNA) sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Defines the Scope of the Ribonucleic Acid (RNA) Sequencing Market?
Ribonucleic acid (RNA) sequencing refers to a technique that uses next-generation sequencing to reveal the presence and quantity of RNA molecules in a biological sample, providing a snapshot of gene expression in the sample. It enables researchers to study gene expression, identify novel transcripts, and understand RNA processing.
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