NGS Based RNA Sequencing Market Size, Share, Industry, Forecast and outlook (2024-2031)

NGS Based RNA Sequencing Market is Segmented By Product & Services (Sequencing Platform and Consumables, Sequencing Services), By Technology (Nanopore Sequencing, Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-Molecule Real-Time Sequencing), By Application (Drug Discovery, Diagnostics, Precision Medicine, Others), By End-user (Biotechnology and Pharmaceutical Companies, Research Centers, Academic and Government Institutes, Hospitals and Clinics, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.

NGS Based RNA Sequencing Market Overview

NGS based RNA Sequencing Market is predicted to reach at a CAGR of 19.7% during the forecast period (2024-2031). NGS-Based RNA-Sequencing is a technology used in identifying and determining the order of nucleotides in an RNA sequence.

This technique plays a vital role in analyzing transcriptomics and gene expression. NGS-Based RNA-Sequencing is a faster and more reliable technology to obtain genetic information from samples, and at a lower cost than ever before with a significant increase in throughput capabilities.

NGS-Based RNA-Sequencing Market Summary and Scope

NGS based RNA Sequencing Market Dynamics and Trends

The global NGS based RNA Sequencing Market growth is driven by the surge in the number of product approvals for RNA-sequencing platforms and consumables, advancements in data analysis & storage, automation in sample generation techniques, as well as augmenting genomic research in the fields of rare genetic diseases and autoimmune diseases are leading to growth in adoption of NGS-based RNA-Sequencing products.

Advantages of RNA-sequencing over the conventional technologies is expected to drive the growth in the forecast period

NGS-based RNA-sequencing offers several advantages over the conventional methods for transcriptome analysis with cost-effective procedures. Since it allows direct quantification and identification of transcripts, it is becoming a de facto standard approach for investigating and optimizing mammalian cells. In addition, NGS-based RNA-sequencing eliminates non-ideal hybridization and cross-hybridization, as observed in microarrays. This technique provides absolute values with higher specificity and can quantify the large dynamic range of expression levels. Since NGS-based RNA-sequencing allows the detection of novel transcripts, this technology is emerging as an alternative to whole-genome transcriptome profiling. Therefore, as mentioned above, these factors are collectively responsible for the growth of the NGS based RNA Sequencing Market over the analysis period.

Instability of RNA under normal conditions are likely to hinder the market growth

The instability of RNA under normal conditions and lack of standardization are expected to hinder the market growth in the coming years.

COVID-19 Impact Analysis on NGS Based RNA Sequencing Market

Next-generation sequencing has turn out to be the investigational tool for several researchers in the fight against the COVID-19 pandemic. RNA-sequencing precisely is crucial in serving to update the understanding of infection dynamics and viral pathogenesis of the SARS-CoV-2 virus. Numerous advanced studies were undertaken in order to understand the ever-changing aspects and epidemiology of the virus across various countries using single-cell RNA sequencing, stranded RNA-sequencing, and ultra-low input RNA-sequencing. A comprehensive investigation of the SARS-CoV-2 virus was carried out in order to reveal the molecular mechanisms and hub genes based on a genome-wide RNA sequencing dataset. This has greatly boosted the research and development activities in clinical studies with NGS as their basis of innovation. Thus, in the context of the ongoing pandemic, the NGS based RNA Sequencing Market is projected to be positively impacted by COVID-19.

NGS based RNA Sequencing Market Segment Analysis

The RNA sequencing platform & consumables segment is expected to hold the largest share in this market segment

The RNA sequencing platform & consumables segment is projected to hold the largest market share throughout the forecast period. This growth is majorly attributed to the availability of innovative RNA sequencing platforms provided by key market players. Some of these platforms include Illumina HiSeq, SOLiD systems, Oxford Nanopore Technologies (ONT) Nanopore sequencing, Ion Torrent, and PacBio IsoSeq, among others. These platforms have revolutionized the study of transcriptome by providing researchers the perceptibility to acknowledge the changes in the diseased state of an individual that previously went undetected. RNA sequencing platform & consumables allow measuring transcriptome expression by detecting gene fusions, transcript isoforms, and single nucleotide variants. Moreover, technological advancements in the field of next-generation sequencing techniques and continuous R&D efforts of biotechnological companies for manufacturing cost-effective and innovative RNA sequencing platforms for cancer research are also boosting the market growth over the forecast period. Technological advancements such as RNA interference (RNAi) improve accuracy and precision, thereby, assisting researchers in analyzing the transcriptional activity. For instance, NGS tools manufactured by Illumina, Inc., are highly successful in fragmenting RNA into several pieces, sequencing the libraries, adding adapters, and reassembling them to form a genomic sequence.

NGS based RNA Sequencing Market Geographical Share

North America region holds the largest market share of global NGS based RNA Sequencing Market

Within North America, the United States has held the major share of the market and is expected to dominate over the forecast period. The presence of major biotechnological research companies such as Illumina, Inc., Thermo Fischer Scientific Inc., Agilent Technologies, Inc., PerkinElmer Inc., and GENEWIZ, Inc. in the region coupled with the early adoption of NGS technology contribute toward the growth of the market. Upsurge in funding from the private players and federal government, as well as the increased implementation of RNA sequencing technologies by non-government and government bodies for biomedical and genomic research purposes, is anticipated to enhance the adoption of NGS-based RNA-sequencing techniques, majorly in the United States. Likewise, the increasing prevalence of systemic autoimmune and oncologic diseases together with progressions in gene expression and regulation studies are likely to drive the growth of the NGS based RNA Sequencing Market in North America. For instance, systemic autoimmune disease such as rheumatoid arthritis is one of the most common autoimmune disorders and has affected over 1.3 million Americans in 2018, as per Rheumatoid Arthritis Organization.

NGS based RNA Sequencing Companies and Competitive Landscape

The global NGS based RNA Sequencing Market is highly competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Illumina, Inc., Oxford Nanopore Technologies, Agilent Technologies, Inc., Thermo Fisher Scientific Inc., PerkinElmer, Inc., F. Hoffmann-La Roche Ltd, Hamilton Company, and Takara Bio Inc. among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market. For instance, In May 2021, Bio-Rad Laboratories, Inc. launched SEQuoia RiboDepletion Kit for NGS that eliminates irrelevant ribosomal RNA from the RNA-sequencing library and improves assay efficiency.

NGS based RNA Sequencing Market – Key Companies to Watch

Agilent Technologies, Inc

Overview: Agilent Technologies Inc is a global leader in life sciences, diagnostics and applied chemical markets. With more than 50 years of insight and innovation, Agilent instruments, software, services, solutions and people provide trusted answers to customers' most challenging questions. The company generated revenues of $4.91 billion in fiscal 2018 and employs 15,550 people worldwide.

Product Portfolio: It includes product like SureSelect Strand-Specific RNA Library Preparation kit prepares Poly(A) enriched libraries for whole-transcriptome sequencing. Sequence a wide range of RNA to detect gene expression changes and alternative splicing. The kit contains mRNA sequencing library preparation and enrichment materials.