DUBLIN--(BUSINESS WIRE)--The "Transcriptomics Market by Type, Technology, Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The transcriptomics market was valued at $5,790.51 million in 2020, and is estimated to reach $11,397.08 million by 2030, growing at a CAGR of 7.0% from 2021 to 2030.
Transcriptomics is the collection and study of RNA present in different types of cells and tissues in an organism. It is a promising tool for discovery of basic gene expression patterns, determination of drug-induced toxicity in adverse drug reactions, and other uses in the medical field. It is an analysis of transcriptome. RNA performs many functions within the cell and studying the transcriptome provides insights into how genes are working and whether proteins are being produced.
Increase in advancements in the field of transcriptomics such as extensive use of RNA-sequencing and rise in application of transcriptomics such as drug discovery are expected to drive the growth of the market. Moreover, other factors that fuel the market growth include increase in adoption of transcriptomics products and rise in demand for personalized medicine.
In addition, many companies have increased their market presence, thereby expanding their business across new markets. For instance, in February 2020, Dovetail Genomics announced the launch of its Dovetail HichlP and Micro-C kits. These aforementioned factors have led to increase in the growth of the transcriptomics market.
Furthermore, the high demand for diagnostic of inflammatory diseases such as COVID-19, and rise in production of transcriptomics instruments to boost the growth of the market. In addition, in February 2020, Caris Life Sciences launched its new MI transcriptome, which enables whole transcriptome sequencing. MI transcriptome uses the high capability of sequencing to gain insight into the RNA profiles of tumor patients. Thus, increased availability of transcriptomics instruments propels the growth of the transcriptomics market.
Conversely, high capital investment in the implementation of transcriptomics is anticipated to hinder the market growth. People, nowadays are more aware of health, which, in turn, compels them to maintain their health condition and increase demand for diagnosis of various diseases. This has further encouraged many key players to enter emerging markets, thus offering a lucrative growth opportunity in the transcriptomics market.
Some of the major companies that operate in the global transcriptomics market are Agilent Technologies Inc, Bio-Rad Laboratories, F-Hoffmann La-Roche, Fluidigm Corporation, General Electric Company, Illuminia Inc., Merck & Co. Inc, Promega Corporation, QiagenInc, and ThermoFisher Scientific.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global transcriptomics market to identify the prevailing opportunities
- This study presents the competitive landscape of the global market to predict the competitive environment across geographies
- Comprehensive analysis of factors that drive and restrict the market growth is provided
- Region- & country-wise analysis is provided to understand the market trends and dynamics
Market Dynamics
Drivers
- Technological Advancements in Transcriptomics
- Increase in Applications of Transcriptomics
- Increase in Research Grants
- Increase in Genome Mapping Programs
Restraints
- Standardization Concerns Over RNA Sequencing
- Lack of Skilled Professionals
Opportunity
- Lucrative Opportunities in Emerging Markets
Impact Analysis
Clinical Trials
KEY MARKET PLAYERS
- Agilent Technologies Inc
- Bio-Rad Laboratories
- F-Hoffmann La-Roche
- Fluidigm Corporation
- General Electric Company
- Illuminia Inc
- Merck & Co Inc
- Promega Corporation
- QiagenInc
- Thermofisher Scientific
KEY MARKET SEGMENTS
By Product& Services Type
- Consumables
- Instruments
- Software
- Services
By Technology
- Microarrays
- q PCR
- Sequencing Technology
BY Application
- Drug Discovery
- Diagnostics and Disease Profiling
- Others
BY End User
- Government Institutes & Academic Centers
- Pharmaceutical & Biotechnology Companies
- Contract Research Organizations
By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/v1svk7
