The global RNA sequencing market is witnessing rapid growth, driven by the increasing adoption of RNA sequencing technologies in research activities, particularly involving RNA library preparation. The market is set to further expand due to the accelerated development in the precision medicine sector, which is propelling the demand for RNA sequencing.
Advancements in Genome Sequencing and Precision Medicine Fuel Market Growth
The initiation of Next-Generation Sequencing (NGS) technologies has led to a significant drop in the cost of genome sequencing over time. This has encouraged emerging economies to adopt a personalized approach, benefiting the RNA sequencing product lines. Moreover, technological advancements in the field have attracted substantial funding to the market. The introduction of RNA sequencing for the assessment of RNA-based drug responses and predictive biomarkers has revolutionized cancer therapy outcomes. The efficient identification of up and down-regulated genes associated with different cancers has been facilitated by RNA sequencing, combined with increased funding from government and non-government organizations, driving the rapid growth of the RNA sequencing market.
Library Preparation Techniques Boost Market Progress in the APAC Region
Globally, North America holds the largest share in the global RNA sequencing market. The region’s growth is attributed to the significant market share held by RNA sequencing platforms and consumables segment, driven by persistent technological upgrades. Key players like Illumina in the region, along with increased applications of techniques like ion semiconductor sequencing, are propelling market growth in North America. The Asia Pacific region follows with the second-largest market share. In addition to technological advancements, the RNA sequencing service segment is also expected to grow at an astounding rate over the forecast period. Europe and South America also hold considerable market shares in the global RNA sequencing market during the study period.
Product Launches, Mergers, and Acquisitions Drive Market Growth
Prominent companies in the RNA sequencing market include Thermo Fischer Scientific Inc., Qiagen, Perkin Elmer, Inc., Agilent Technologies Inc., Illumina, Tecan Genomics Inc., Roche Sequencing Solutions (RSS), GE Healthcare (Cytiva), Bio-Rad Laboratories Inc., and Sigma Aldrich. Market players are adopting strategies such as constant upgrades and launches to strengthen their position. For instance, Qiagen recently endorsed the therascreen KRAS RGQ PCR (Polymerase Chain Reaction) Kit for an extended scope of application, while Thermo Fisher Scientific Inc. introduced the Thermo Scientific AerosolSense Sampler, a novel surveillance solution to detect the presence of in-air pathogens, including SARS-CoV-2. Perkin Elmer, Inc. also introduced two “Research Use Only” (RUO) solutions, PKampT VariantDetectT.
Source – PR Newswire