NGS-based RNA-seq Market: North America to Capture Major Share of Global the market
NGS-based RNA-seq Market: Introduction
- Introduction of next-generation sequencing technology has increased demand for NGS-based RNA-seq across the globe. NGS-based RNA-seq is largely used in both conventional and non-conventional applications to get advanced and comprehensive insights at a genomic level. Rise in need of advanced sequencing-based diagnostics has created a demand for new seq-technologies. Therefore, demand for devices such as high-throughput sequencers and portable units has increased substantially. The demand for NGS-based RNA-seq is rising due to various factors including technological advancements in RNA-seq products, benefits of RNA-seq compared to microarray technology, rapid growth in research activities, increase in grants for RNA-seq, and significant demand for precision medicine.
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Key Drivers, Restraints, and Opportunities of Global NGS-based RNA-seq Market
- Adoption of next generation sequencing has increased in the past few years due to decline in cost. For example, the first human genome sequencing cost around US$ 3 Bn in 2001 and it took around 15 years for completion. Presently, the cost of the same is around US$ 1,000 and the process requires less number of days. The cost of sequencing was around US$ 3 Bn, which dropped to US$ 10 million in 2006. Technological developments reduced the cost to US$ 5,000 in 2016. Market players such as Illumina, Inc. and Roche have introduced breakthrough sequencing technologies that have led to cost and time reduction. Moreover, the number of service providers has increased and these are delivering next generation sequencing at lower cost.
- Advancements in the field of molecular biology has enhanced the sequencing procedures. Most of the industry players have come up with innovative NGS technology in the past few years such as Sequel (Pacific Biosciences) and PromethION (Oxford Nanopore). Additionally, three advanced NSG systems that lead the market are Roche GS FLX (454), Illumina HiSeq 2000 (Solexa), and AB SOLiD (Agencourt).
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North America to Capture Major Share of Global NGS-based RNA-seq Market
In terms of region, the global NGS-based RNA-seq market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to lead the global market due to the presence of key players and well-established informatics network. Additionally, supportive regulatory policies related to usage and approval of genetic tests and rise in the number of FDA approved genomic tests in the U.S. drives the market in North America.
Asia Pacific is anticipated to present significant opportunities in the NGS-based RNA-seq market in the next few years. Rise in government initiatives to offer better public health facilities and significant investment in advanced diagnostic approaches are the key factors fueling the demand for NGS-based RNA-seq in the region. Moreover, key players are enthusiastic about investing in emerging economies in Asia Pacific, as they can secure a better position in the market and expand business.
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Key Players Operating in Global NGS-based RNA-seq Market
Leading players in the global NGS-based RNA-seq market have collaborations with several platform manufacturers. The objective is to receive license to use NGS at their centers. Moreover, these players focus on innovation, launch of new products, and research & development. Competition among the key players in the global market is likely to increase in the next few years in order to have a stronger hold in the market. Major players operating in the global NGS-based RNA-seq market are:
- Illumina, Inc.
- Roche Holding AG
- QIAGEN N. V.
- Thermo Fisher Scientific Inc.
- PerkinElmer, Inc.
- BGI
- Oxford Nanopore Technologies, Ltd.
- Pacific Biosciences of California, Inc.
- Agilent Technologies, Inc.
- Macrogen, Inc.
- GATC Beq market
- Eurofins Scientific
- F. Hoffmann-La Roche Ltd.
- Takara Bio Inc.
- GENEWIZ, Inc.
- Hamilton Company
- Zymo Research
- Tecan Genomics, Inc.
- Others
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