The NGS-based RNA seq market was valued at US$ 1,414.59 million in 2018 and it is projected to reach US$ 7,984.90 million in 2027; it is expected to grow at a CAGR of 19.3% from 2018 to 2027.
The NGS-based RNA seq market was valued at US$ 1,414.59 million in 2018 and it is projected to reach US$ 7,984.90 million in 2027; it is expected to grow at a CAGR of 19.3% from 2018 to 2027.
The NGS based RNA seq is done without a reference sequence for the strand-specific libraries that are being profiled for the rare and novel therapeutics. It is highly revolutionized study of the transcriptome which is highly sensitive and accurate for the measurement of the expression all over the transcriptome. The NGS based RNA seq provides researchers with visibility for previously undetected changes occurring in disease states, in response to therapeutics caused by different environmental conditions. In addition, this technique enables researchers to detect the known and unknown features in single assay. Moreover it assists in detecting the gene fusions, single nucleotide variants, transcript isoforms and other features without the restriction of prior data. The growth of the global NGS-based RNA seq market is attributed to the reduced cost of genome sequencing, advancements in sequencing technology and next generation sequencing for cancer. However, risks related to genetic data and high cost of NGS instruments are the major factor hindering the market growth.
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NGS-Based RNA-Sequencing market Segmentation:
- In terms of product & services, the global NGS-based RNA seq market is segmented into sample preparation, sequencing services, sequencing platforms & consumables and data analysis, storage & management. In 2018, the sequencing platforms & consumables segment held largest share of the market. However, the data analysis, storage & management segment is estimated to register the highest CAGR during the forecast period.
- Based on technology, the global NGS-based RNA seq market is segmented into sequencing by synthesis (SBS), nanopore sequencing, ion semiconductor sequencing and single-molecule real-time (SMRT) sequencing. The sequencing by synthesis segment held the largest market share in 2018, also the same segment is estimated to grow at the fastest rate during the forecast period.
- In terms of application, the global NGS-based RNA seq market is segmented into diagnostics, drug discovery, precision medicine and others. In 2018, the diagnostics segment held largest share of the market. The same segment is expected to register the highest CAGR during the forecast period.
- The major players operating in the NGS- based RNA- seq market include Illumina, Inc., Thermo Fisher Scientific Inc., Pacific Biosciences of California, Inc., Qaigen, F. Hoffmann- La Roche AG, Agilent Technologies, Inc., BGI, Oxford Nanopore Technologies, Perkinelmer, Inc. and Eurofins Scientific among others. The market players are focused towards bringing new and innovative product launches to sustain their position in the market. For instance, in October 2018, Agilent Technologies Inc. launched Agilent OnePGT, a genome- wide, next- generation sequencing (NGS) solution for preimplantation genetic testing (PGT).
Reduced Cost of Genome Sequencing to Drive Global NGS-Based RNA Seq Market Growth
The growth in the adoption of the next generation sequencing is rising, recently in few years, next generation sequencing price have reduced greatly. For instance, first whole human genome sequencing cost over US$ 3billion in 2001 and it took approximately 15 years for its completion. However, the costs for the same in recent years has reduced to US$1,000 and the process requires less number of days. The cost of sequencing was approximately US$ 3 billion, which dropped down to US$ 10 million in 2006 and as the development in the technologies has increased the prices of sequencing has decreased to US$ 5,000 in 2012. Major market players such as Illumina and Hoffman La Roche Ltd have introduced breakthrough technologies that have enabled in the cost and time reduction in the sequencing.
Moreover, the increase in the service provider companies in the market and their offering for next generation sequencing are cheaper. For instance, Applied Biological Materials, Inc. is an Illumina Certified Service Provider, which offer the next generation sequencing in low cost. Services such as single-end total RNA Sequencing (8 million reads, 1x75bp SE) with minimum two samples is offered in US $375. Likewise paired-end total-end sequencing (8 Million reads, 2x75bp PE) with two samples is performed in US$ 445. Whereas, miRNA seq/Small RNA sequencing (10 million, 1x75 SE) with two samples is offered in US$ 645.
Hence, considering these factors such as advances in the field of next generation sequencing, development in different methods and strategies for sequencing, notable decline in the cost of sequencing, increase in the next generation sequencing service providers are likely to propel the growth of the NGS based RNA seq.
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