According to a new market report, the global transcriptomics market is poised to grow at a CAGR of 13.7% from 2014 to 2019. Technological advancements, increasing investments in research and development, increasing government and private funding, and growing preference for personalized medicines are some of the major factors driving the growth of this market.
Thermofisher Scientific Inc. (Life Technologies) (U.S.) was a leading player in the transcriptomics market in 2013 with 30.2% share in the global market. The leading position of this company in this market was mainly attributed to its strong presence in the PCR and sequencing market. Over the years, the company has maintained its leading position through a strong distribution network across North America, Europe, Middle East and Africa, Asia-Pacific, and Latin America. Moreover, the company focuses on new product launches and acquisitions as its key business strategies, to ensure its growth in the global transcriptomics market. For instance, in 2014, Thermofisher acquired Life Technologies Corporation which has led to the enhancement of PCR product portfolio of the company.
Illumina Inc. (U.S.) was another prominent player in the global transcriptomics market with 21.5% share in 2013. The dominant position of this company is mainly attributed to its diverse product portfolio offering various products for RNA sequencing.