New York, March 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "NGS-Based RNA-Sequencing Global Market Report 2023" - https://www.reportlinker.com/p06433427/?utm_source=GNW
, Takara Bio Inc., GENEWIZ Inc., Hamilton Company, Macrogen, and Bio-Rad Laboratories Inc.
The global ngs-based rna-sequencing market grew from $2.22 billion in 2022 to $2.74 billion in 2023 at a compound annual growth rate (CAGR) of 23.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ngs-based rna-sequencing market is expected to grow to $6.3 billion in 2027 at a CAGR of 23.1%.
The NGS-based RNA-sequencing market includes revenues earned by ribosomal RNA (rRNA), transfer RNA (tRNA), long ncRNA and many smaller ncRNAs such as microRNA.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
The NGS-based RNA-sequencing are used to identify and measure the amount of ribonucleic acid (RNA) present in a biological sample at a certain moment, using next-generation sequencing (NGS).The massively parallel sequencing technology known as "next-generation sequencing" (NGS) provides extremely high throughput, scalability, and speed.
This approach can ascertain the nucleotide sequence of whole genomes or specific DNA or RNA portions.
North America was the largest region in the NGS-based RNA sequencing market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in NGS-based RNA sequencing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products and services of NGS-based RNA sequencing are sample preparation products, sequencing platforms and consumables, sequencing services, and data analysis, storage & management.Sample preparation products enable DNA or RNA to stick to the sequencing flowcell and enable identification of the sample.
Sample preparation entails the procedures required to convert nucleic acid mixtures from biological samples into various types of libraries that are prepared for NGS technologies.Sequencing by synthesis, ion semiconductor sequencing, single-molecule real-time sequencing, and nanopore sequencing are the technologies.
These sequencing techniques are used in expression profiling analysis, small RNA sequencing, de novo transcriptome assembly, and variant calling and transcriptome epigenetics. NGS-based RNA-sequencing is used by research & academia, hospitals & clinics, pharmaceutical & biotechnology companies, and other end users.
The growth in precision medicine is driving the NGS-based RNA sequencing market.Precision medicine aids doctors in designing individualized treatment plans and making treatment decisions based on a genetic understanding of the patient’s disease.
There is a growth in precision medicines for treating severe diseases such as cancer.The NGS-based RNA sequencing helps identify the root cause of disease and prescribe specific precision medicine for treatment.
For instance, in September 2021, the Swedish Government invested $21.15 million (SEK 220 million) in the Swedish national infrastructure Genomic Medicine Sweden (GMS), to make it easier to keep integrating precision medicine into Swedish healthcare, ensuring that every person there has to access to more accurate tests and individualized care. Such investments are taking place due to a rise in demand for precision medicines. As the demand for precision medicines increases, the demand for NGS-based RNA sequencing will also increase.
Strategic Partnership is a key trend in the NGS-based RNA sequencing market.Companies are entering into a partnership with NGS-based RNA sequencing companies to expand in new markets and leverage each other’s resources.
For instance, in May 2022, The Biomedical Advanced Research and Development Authority (BARDA), a U.S. Department of Health and Human Services, partnered with multiple industry and academic partners. The partnership aims to improve the capacity to swiftly respond to public health emergencies and develop a novel diagnostic capability that covers all recognized and emerging respiratory RNA viruses in a single test. In March 2020, Illumina Inc., a US-based biotechnology company that develops, manufactures and markets integrated systems for the analysis of genetic variation and biological function, partnered with IDbyDNA Inc. The partnership aims to give laboratories, and hospitals worldwide access to high-fidelity NGS analysis, interpretation, and reporting capabilities. The alliance hopes to enable the widespread distribution of NGS equipment, library prep, and other reagents. IDbyDNA Inc. is a US-based metagenomics technology company.
In April 2021, Agilent Technologies, Inc., a US-based company that serves the life sciences, diagnostics, and applied chemical industries by offering analytical equipment, software, services, and consumables for the entire laboratory workflow, acquired Resolution Bioscience for $695 million. Through this acquisition, Agilent will expand its NGS-based cancer diagnostic capabilities and better meet the demands of the rapidly expanding precision medicine market. Agilent’s ability to serve clinical diagnostics and biopharma customers is strengthened by the addition of Resolution Bioscience’s liquid biopsy-based diagnostic technologies, which also expands the company’s opportunities for growth in the diagnostics and genomics sectors. Resolution Bioscience is a US-based company involved in developing and commercializing next-generation sequencing (NGS)-based precision oncology solutions.
The countries covered in the NGS-based RNA sequencing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The NGS-based RNA sequencing market research report is one of a series of new reports that provides NGS-based RNA sequencing market statistics, including NGS-based RNA sequencing industry global market size, regional shares, competitors with a NGS-based RNA sequencing market share, detailed NGS-based RNA sequencing market segments, market trends and opportunities, and any further data you may need to thrive in the NGS-based RNA sequencing industry. This NGS-based RNA sequencing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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