Growing Initiatives and Investments by Government Organizations for Developing New Technology, with the Introduction of New Microarray Technology, Have Significantly Increased the Demand for Transcriptomics Across Different Parts of the Globe.
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The global transcriptomics market is anticipated to witness impressive growth during the forecast period. This can be ascribed to the growing application of RNA sequencing and NGS for the diagnosis of genetic illness in developing countries. Additionally, growing initiatives and investments by government organizations for developing new technology, with the introduction of new microarray technology, have significantly increased the demand for transcriptomics across different parts of the globe. Additionally, the rising adoption of new technology and growing demand for personalized medicine for treatments are further expected to increase the demand for transcriptomics, thereby fuelling the market growth through 2028. Furthermore, the increasing number of biopharmaceutical companies and growing expenditure on research and development are further expected to increase the demand for transcriptomics, thereby supporting market growth. Every 4 1/2 minutes, a baby is born with a birth defect in the United States every year, and it affects 1 in every 33 babies born in the United States each year. That translates into about 120,000 babies.Speak directly to the analyst to clarify any post sales queries you may have.
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Increasing Demand for Personalized Medicine
Increasing demand for precision medicine & genetic testing and increasing prevalence of conditions such as obesity, hepatitis B, and cancer is expected to boost the market for transcriptomics technology. Additionally, increasing the incidence of genetic mutations related diseases such as down syndrome due to arising in carcinogens and genetic variants among the population is expected to propel the market growth during the forecast period. The increasing prevalence of cancer is expected to offer lucrative growth opportunities for players in the global transcriptomics technologies market. For instance, according to the American Cancer Society, in 2019, total estimated 1,762,450 new cancer cases were diagnosed and 606,880 cancer deaths in the U.S. Particularly, next-generation sequencing (NGS) has transformed the diagnosis of genetic illnesses and allowed medical professionals to offer even more thorough clinical insights. For instance, in April 2020, Indivumed GmbH, an oncology company, launched the Oncology Alliance for Individualized Medicine, an international collaborative alliance to advance personalized medicine in cancer through IndivuType, the company’s multi-omics database.Growing Development of the Healthcare Industry
Due to the increasing technological developments in the research and development sector and the use of RNA sequencing technology in analytical science, the demand for transcriptomics technology is expected to create lucrative growth in the forecast period. Private and government organizations are supporting the research and development sector with the help of pharmaceutical and biotechnology firms which will further boost the market growth in the forecast period. The funding for cancer research has rapidly increased, and most of the government funding centers for breast cancer and childhood cancer. In 2019, the NIH of the US government invested USD460 million in breast cancer which has increased to USD3.5 billion in the year 2022.Market Segmentation
The global transcriptomics market can be segmented by component, technology, application, end-user, and by region. Based on components, the market can be segmented into Instruments, Consumables, and Software & Services. Based on technology, the market can be differentiated into Next Generation Sequencing, Polymerase Chain Reaction, Microarray, In-Situ Hybridization, and Others. Based on application, the market can be segmented into Drug Discovery & Development, Cell Biology, Single Cell Analysis, Gene Expression, and Others. Based on the end user, the market can be segmented into Biotechnology & Pharmaceutical Companies, Academic & Research Institutions, and Others. Regionally, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America. Among the different countries, the United States dominated the global transcriptomics market on account of the increasing demand for personalized medicine in the country.Market Players
Agilent Technologies, Inc., ANGLE plc., Bio-Rad Laboratories, Inc., Becton, Dickinson, and Company, Fluidigm Corporation, BioSypder, Inc., Danaher Corporation (Cytiva), 10x Genomics, Inc., Pacific Biosciences of California, Inc., NanoString Technologies, Inc. are some of the leading players operating in the Global Transcriptomics Market.Recent Development
- In May 2022, BioSkryb Genomics first announced the Early Access Program (EAP) for ResolveOME. With this one-cell process, the whole genome and full-length mRNA transcripts of the whole transcriptome can be amplified from a single cell.
- In January 2022, Parse Biosciences, a company that helps researchers with single-cell sequencing, made a deal with Research Instruments Ptv Ltd to sell Parse's Evercore Whole Transcriptome Kits (WTKs), Cell Fixation Kits, and Nuclei Fixation Kits in Singapore and the rest of Southeast Asia.
Report Scope:
In this report, global transcriptomics market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:Transcriptomics Market, By Component:
- Instruments
- Consumables
- Software & Services
Transcriptomics Market, By Technology:
- Next-Generation Sequencing
- Polymerase Chain Reaction
- Microarray
- In-Situ Hybridization
- Others
Transcriptomics Market, By Application:
- Drug Discovery & Development
- Cell Biology
- Single Cell Analysis
- Gene Expression
- Others
Transcriptomics Market, By End User:
- Biotechnology & Pharmaceutical Companies
- Academic & Research Institutions
- Others
Transcriptomics Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Turkey
- Egypt
Competitive landscape
Company Profiles: Detailed analysis of the major companies present in Global Transcriptomics Market.Available Customizations:
With the given market data, the publisher offers customizations according to a company’s specific needs.This product will be delivered within 1-3 business days.
Table of Contents
1. Product Overview
2. Research Methodology
3. Executive Summary
5. Clinical Trial Analysis
6. Global Transcriptomics Market Outlook
7. North America Transcriptomics Market Outlook
8. Europe Transcriptomics Market Outlook
9. Asia-Pacific Transcriptomics Market Outlook
10. South America Transcriptomics Market Outlook
11. Middle East and Africa Transcriptomics Market Outlook
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Agilent Technologies, Inc.
- ANGLE plc.
- Bio-Rad Laboratories, Inc.
- Becton, Dickinson, and Company
- Fluidigm Corporation
- BioSypder, Inc.
- Danaher Corporation (Cytiva)
- x Genomics, Inc.
- Pacific Biosciences of California, Inc.
- NanoString Technologies, Inc.
