Wilmington, Delaware, United States, Transparency Market Research Inc.: The global RNA analysis/transcriptomics market is expected to grow at a rapid pace in the next few years.
Wilmington, Delaware, United States, Transparency Market Research Inc.: The global RNA analysis/transcriptomics market is expected to grow at a rapid pace in the next few years. The following factors will have a significant impact on the global market:
Rise in demand for faster testing and research has increased the demand for transcriptomic technologies, particularly in the areas of next generation sequencing (NGS) and polymerase chain reaction (PCR). Various oncology profiling tests, such as PCR testing panels and drugs, have been approved by the FDA for emergency use in COVID-19 testing and diagnostics.
COVID-19 infections have been increasing at an exponential rate in the U.S. Hence, the number of regular patient visits to hospitals and clinics has decreased and so has the number of profiling studies conducted in normal circumstances. This is expected to hamper the growth of the global market in the next few years.
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RNA Analysis Transcriptomics Market: Key Trends
The global transcriptomics market is anticipated to be driven by advancements in the field of transcriptomics, such as the extensive use of RNA-sequencing, and increase in transcriptomics applications, such as drug discovery. Moreover, increase in funding and grants from various private and government organizations fuels the growth of the global transcriptomics market.
Personalized medicine has entered mainstream clinical practice and is changing how diseases are identified, classified, and treated. It has become a core area of research in the healthcare industry. Oncology is one area where these advancements are particularly evident. The number of personalized drugs, treatments, and diagnostic products has increased since 2006, according to the Personalized Medicine Coalition report (2017), and this trend is expected to continue in the next few years.
Rise in focus on biomarker discovery & toxicogenomic and increase in interest in outsourcing services are expected to boost the growth of the global RNA analysis/transcriptomics market. However, high capital investment requirements and data management issues are likely to restrain the global market during the forecast period.
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North America to Capture Major Share of Global RNA Analysis Transcriptomics Market
North America dominated the global RNA analysis/transcriptomics market in 2020. Increase in development of structure-based drug designs, rise in academic & government investments in genomics & proteomics research, high life science research funding, surge in biopharmaceutical R&D expenditure, and increase in adoption of advanced technologies are attributed to the region’s large market share. Presence of a large number of global players also contributed to North America’s large market share.
The RNA analysis / transcriptomics market in the U.S. is expected to witness strong growth in terms of revenue during the forecast period. The country accounted for 39.34% share of the market in North America 2020.
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Key Players Operating in Global RNA Analysis Transcriptomics Market
Major players operating in the global RNA analysis transcriptomics market are listed below:
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Merck KGaA
- Agilent Technologies, Inc.
- Illumina, Inc.
- QIAGEN N.V.
- F. Hoffmann-La Roche Ltd.
- Danaher Corporation
- Fluidigm Corporation
- Eurofins Scientific
- Sequentia Biotech SL
- Acobiom
- GenXPro GmbH
- CD Genomics
- Promega Corporation
- Lexogen GmbH
- Cenix BioScience GmbH
- Cenix BioScience GmbH
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