DUBLIN, March 29, 2023 /PRNewswire/ -- The "Global NGS-based RNA Sequencing Market Size, Share, Trends, Product Type (Sequencing Instrument & Consumables, Sample Preparation, and Others), Technology, Application, End-user, and Region - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The global market for NGS-based RNA sequencing is projected to reach USD 11.4 billion by 2030, with a revenue CAGR of 20.3% during the forecast period.
The market's growth is being driven by several factors, including the rising demand for high throughput sequencing methods, the rapid technological advancements in NGS and RNA sequencing technologies, and the increasing use of RNA sequencing in clinical diagnostics.
RNA sequencing, or RNA-Seq, takes advantage of NGS to determine and quantify the amount of RNA present in a biological sample at a specific moment.
NGS allows researchers to analyze the complete transcriptome using experimental methods without requiring probes, resulting in measurable data with a wide dynamic range and high sensitivity to detect differentially expressed genes.
RNA-Seq can detect and identify novel variants, such as alternative splicing sites and new isoforms, making it a versatile and widely adopted technique for researchers to study complex landscapes.
There are various approaches available, from whole transcriptome sequencing to tailored RNA sequencing, depending on the specific needs of the researcher.
Major biotechnology companies are offering unique NGS-based RNA sequencing platforms, data analysis services, and kits, tailored to meet the demands of various research domains, which is driving the revenue growth of this industry.
Additionally, major biotech companies are offering funding grants and research programs, which are increasing the demand for NGS-based RNA sequencing in academic research laboratories and Contract Research Organizations (CROs), further contributing to revenue growth in this market.
For example, QIAGEN launched a grant program in 2021 to encourage RNA-Seq research projects, offering QIAseq RNA-seq and miRNA-seq kits or Genomic Services worth up to USD 20,000.
Partnerships and collaborations between key market players are also driving revenue growth in the NGS-based RNA sequencing market.
For instance, Singular Genomics Systems, Inc. announced in May 2022 that it is collaborating with NVIDIA to validate and improve the performance of its G4 Sequencing Platform with NVIDIA Clara Parabricks for secondary analysis, including alignment and variant calling.
Through this partnership, researchers and medical professionals using the G4 next-generation instrument can access Clara Parabricks, allowing them to run accelerated bioinformatics pipelines for important applications such as whole genome sequencing, exome sequencing, RNA-Seq, and targeted gene panels.
Market Dynamics
Drivers
- Rising popularity and demand for high throughput sequencing methods
- Rapid technological progress in the development of Next-Generation Sequencing (NGS) and RNA sequencing technologies
- Growing translation of RNA sequencing in clinical diagnostics
Restraints
- Limitations of NGS-Based RNA sequencing technologies related to inability of detecting low level genomic variants
- Stringent government regulations associated with the use of VPNs
Companies Mentioned
- Oxford Nanopore Technologies plc
- Thermo Fisher Scientific Inc.
- Illumina Inc.
- PerkinElmer Inc.
- Eurofins Scientific Inc.
- F. Hoffmann-La Roche Ltd
- Agilent Technologies Inc.
- QIAGEN
- Novogene Co. Ltd.
- BGI Group
For more information about this report visit https://www.researchandmarkets.com/r/hh5svn
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