Key Factors Impacting the Development of NGS-based RNA-seq Market:
1. Advantages of RNA-Seq Over Conventional Technologies
2. Increasing Number of RNA-Seq Grants
3. Growing Number of Research Activities Involving RNA-Seq
4. Rapid Growth in Precision Medicine
5. Increasing Applications of RNA-Seq in Research
6. Storage & Interpretation of Sequencing Data
7. Analysis of RNA-Seq Data for the Detection of Novel Transcripts
Revenue Growth Analysis:
[156 Pages Report] The NGS-based RNA-sequencing market size is estimated to grow from USD 1.7 billion in 2019 to USD 4.2 billion by 2024, at a CAGR of 20.0%.
Know more about market development, Download PDF Brochure.
Leading Players in NGS-based RNA-sequencing Market:
Illumina (US), Thermo Fischer Scientific (US) and Oxford Nanopore (UK), Agilent Technologies, Inc. (US), BGI (CHINA), PerkinElmer Inc. (US), QIAGEN (Germany), Eurofins Scientific (Luxembourg), F. Hoffmann-La Roche Ltd (Switzerland), Takara Bio Inc. (Japan), GENEWIZ, Inc. (US), Hamilton Company (US), Macrogen (South Korea), Zymo Research (US), and Tecan Genomics, Inc. (Switzerland).
An analysis of market developments between 2016 and 2019 revealed that growth strategies such as product launches, acquisitions, expansions, and agreements were adopted by market players to strengthen their product portfolios and maintain a competitive position in the NGS-based RNA-sequencing market. Product launch and agreements were the most widely adopted growth strategy by market players in the last four years.
Illumina dominates the next-generation sequencing market with its technologically advanced & innovative platforms and associated sequencing products. The company’s product portfolio includes a wide range of highly interconnected products, including sequencing, genotyping, gene expression, and molecular diagnostic products. Illumina also offers NGS-based RNA sequencing services which further strengthens its market position. Over the past three years, Illumina has launched several products in the market. To sustain continuous product development, the company invests a significant amount of its revenue on R&D expenditure. In 2018, Illumina invested 18.7% of its revenue on R&D.
Recent Developments in NGS-based RNA sequencing Market:
1. In May 2019, BGI (CHINA) and GenomiQa (Australia) signed a services agreement for whole-genome sequencing on BGI’s DNBseqTM sequencing technology platform. Under this agreement, genomiQa will utilize BGI’s ISO15189 accredited laboratory sequencing facilities.
2. In November 2018, Illumina (US) acquired Pacific Biosciences (US), one of the leading provider of sequencing systems. This helped Illumina strengthen its sequencing product portfolio.
3. In June 2017, Agilent Technologies (US) and Agendia (US) entered into an agreement to expand their relationship to include the development of Agendia’s RNA-Seq kit version into Agilent’s current product portfolio.
Leading Segments:
The RNA sequencing platforms & consumables segment accounted for the largest share of the NGS-based RNA-sequencing market. This can be attributed to continuous technological advancements witnessed in the market and the increasing availability of innovative & cost-effective sequencing platforms.
The sequencing by synthesis segment accounted for the largest share of this market in 2018. The dominant market position of this segment is attributed mainly to the development of new and advanced NGS platforms and the increasing demand for Illumina’s systems, as it is the major provider of NGS platforms that use the SBS technology (including the HiSeq and MiSeq series, NextSeq, and HiSeq X Ten).
Request Sample Pages:
Regional Growth Analysis:
North America accounted for the largest share of the NGS-based RNA-sequencing market. This can primarily be attributed to the government support through funds for genomics research, advancements in RNA-Seq products, growing prevalence of target diseases, growing research on cancer and inherited rare diseases, and the strong presence of key players.