RNA Analysis Market Will Reach $14,909.8 Million by 2030, says P&S Intelligence

NEW YORK, July 19, 2022 /PRNewswire/ -- According to the latest market research study published by P&S Intelligence, in 2030, the RNA analysis market will reach $14,909.8 million, growing from a value of $4,833.4 million in the year 2021 at a rate of over 13%. The increase in the demand for tailored medicine, surge in the investments by governments for biotech, omics, and pharma research and development, expansion in the application area of RNA sequencing, and development of new transcriptomics products are pushing the global market.

Transcriptomics consumables have the highest demand in the RNA analysis market, and this trend will keep going in the near future because of the increasing research and development activities in the pharmaceutical sector, in addition to the rising government investment for research in life sciences. For example, in March 2022, the Canadian government provided aid of about $14 million for mobilizing genomics through 10 downstream research and development projects.

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Next-generation sequencing is one of the most-widely used techniques for transcriptomics, and it had an over 30% share in the RNA analysis market in 2021. The development in precision medicine and the surge in the count of research studies that involve RNA sequencing, because of its advantages over traditional technologies, is driving the demand for the NGS process. Essentially, the growing use of RNA sequencing in agricultural and cancer research is driving the growth of the market.

Transcriptomics is mainly used in drug discovery & development due to the arrival of RNA-based therapeutics. RNA-based drugs are being explored for difficult-to-treat ailments and those that are currently incurable, including rare genetic diseases, AIDS, cancer, and diabetes. For instance, Otsuka Pharmaceutical Co. Ltd. has teamed up with xFOREST Therapeutics Co. Ltd. for creating RNA structure-targeted drugs for numerous ailments.

In 2021, the RNA analysis market share of North America was nearly 40%, with the U.S. being the market leader and Canada set to experience the faster growth in the coming years. This is because of the promising government strategies for pharmaceutical R&D, surge in healthcare expenditure, high chronic disease prevalence, and improvement in the access to advanced healthcare infrastructure. Moreover, the majority of the biopharma and pharma companies are headquartered here, particularly in the U.S.

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The MEA and LATAM regions will also grow considerably, because of the rising occurrence of genetic ailments and the absence of appropriate treatments in the region. In LATAM, Brazil has an over 50% market share, and Mexico will have a significant growth rate. In the MEA, South Africa has a high possibility of market advance because of the immense unmet need for treatments for numerous diseases.

RNA Analysis Market Report Coverage

By Product

• Consumables
• Instruments
• Software

By Technology

• Next-Generation Sequencing
• Polymerase Chain Reaction
• Microarray
• Mass Cytometry

By Application

• Drug Discovery and Development
• Diagnostics
• Cell Biology
• Single Cell Analysis
• Gene Expression

By End-User

• Academic and Research Institutions
• Biotechnology and Biopharmaceutical Companies

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Italy
• Spain
• Asia-Pacific
• China
• India
• Japan
• Australia
• Singapore
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa

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SOURCE P&S Intelligence