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

RNA Sequencing Market is Segmented By Products & Services (Sample Preparation Products, Data Analysis, Storage & Management, RNA Sequencing Services), By Technology (Segment Ion Semiconductor Sequencing, Single Molecule Real Time Sequencing, Nanopore Sequencing, Sequencing by Synthesis), By Application (Small RNA Sequencing, Expression Profiling Analysis, De Novo Transcriptome, Assembly, Variant Calling and Transcriptome Epigenetics), By End-User (Research Centers, Biotechnology Labs, Healthcare Centers Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

RNA Sequencing Market Overview

The RNA Sequencing Market is estimated to reach at a CAGR 14.20% during the forecast period (2024-2031). RNA-sequencing is a well-known technology that uses next-generation sequencing to analyze the sequences and quantities of RNA in a sample (NGS). The transcriptome, or the entire cellular content of RNAs such as mRNA, rRNA, and tRNA, is one of the most important uses of RNA sequencing. This enables scientists to comprehend a cell's complete biology and examine general alterations indicating sickness. Transcriptional profiling, SNP identification, RNA editing, and differential gene expression analysis are some of the most used RNA-sequencing approaches and because it is limited to genomic sequences, has a minimal background signal, and is more measurable, RNA sequencing is more important.

RNA Sequencing Market Summary and Scope

RNA Sequencing Market Dynamics and Trends

The RNA sequencing market is expected to grow due to increase in adoption of personalized medicine due to decrease in cost of sequencing, increased utility in predictive biomarkers and therapeutic response research and significant external funding for executing research and development .

Less cost of sequencing and effectiveness in the treatment of cancer will drive the market growth

The global insistence for RNA sequencing over traditional technologies has proven to be the industry's driving factor. RNA sequencing has greater sensitivity for genes expressed at low or very high levels and a greater dynamic range of expression levels over which transcripts can be detected (>8000-fold range). In addition, compared to previous conventional technologies and recent advances in the RNA-Seq workflow, from sample preparation to library construction to data analysis, it provides insight into a cell's transcriptome.

Furthermore, the effectiveness of RNA sequencing in the current COVID-19 situation has resulted in many top industries adopting these technologies, resulting in their growth. Its effectiveness in treating many diseases, including cancer, has improved the overall healthcare system.

Developing countries' governments and private sectors have invested in their research and development sectors and RNA sequencing programs to gain a thorough understanding of genetics and diseases. Many government organizations have taken an active role in the sequencing program to find better ways to treat cancer and other diseases. As a result of this widespread support, several new entrants have entered the market, and numerous RNA sequencing projects have been launched, contributing to the industry's overall growth and providing opportunities for key players.

The lower cost of genome sequencing has resulted in broad acceptance of these techniques, positively influencing the adoption of RNA sequencing product lines. Furthermore, government groups have contributed major financing for technological developments, including RNA sequencing. RNA sequencing also aids in the discovery of differentially expressed genes, allowing numerous researchers to identify up-and down-regulated genes linked to various malignancies quickly. This contributes to the growth of the global RNA sequencing market.

Lack of funding and scarcity of skilled professionals is likely to hamper the market growth

In developing economies, research and development spending primarily rely on funding from outside sources. Although governments and private bodies try to fund research programs, many research firms and academic institutes face budget constraints. They cannot afford advanced and high-priced equipment and technologies, which harms the growth of these industries and their expansion in developing countries. RNA-based mappings rely on cDNA synthesis, which is problematic for short-lived transcripts like primary microRNAs, the efficiency of which is determined by RNA sequence and structure. Furthermore, there is a scarcity of skilled professionals in this industry, further impeding its growth. As a result, interpreting complex data takes time, and researchers face challenges, resulting in slow industry growth.

COVID-19 Impact Analysis on RNA Sequencing Market

The COVID-19  has hugely influenced the world, causing economic collapse and death. It has resulted in a worldwide epidemic that is extremely transmissible. Global RNA sequencing is important in many ways because of its rapid progress. COVID-19 appears to have a favorable impact on the global RNA sequencing business. It has been attributed mostly to the market's major drivers, including increased use of personalized pharmaceuticals, therapeutic response research, and external finance for executive R&D. However, worries about testing accuracy and a lack of competent technical personnel are two major obstacles are limiting the market's expansion. Furthermore, with its mutations, transmission, and genetics study, global RNA sequencing technology plays a critical role in the fight against COVID-19 alone. COVID-19 has also highlighted the necessity for genome sequencing technologies from when the virus is first detected to when it is diagnosed. These aspects are encouraging advances, and big pharma and technology companies are investing to support these new diagnostic test methods.

RNA Sequencing Market Segment Analysis

The ion semiconductor sequencing segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)     

Ion semiconductor sequencing employs natural nucleotides and clear sequencing chemistry to produce precise reads at least twice as long as fluorescent sequencing-by-synthesis (SBS) reads. Sequencing precision typically decreases as reading length increases, but this slope is relatively flat for the Ion PGMTM sequencer compared to fluorescent SBS chemistry. Ion semiconductor sequencing is unique because it can perform both precise long reads and paired-end sequencing. Ion Torrent has recently released a long-read kit for the Ion PGMTM sequencer, with 225-base modal great-quality read lengths. As demonstrated by producing an excellent 525 base read, read lengths greater than 500 are possible. For the e-Ion PGMTM system, a new paired-end sequencing (PES) protocol has been established. Ion PES improves precision even more.

Ion Semiconductor Sequencing reduced the number of indel mistakes by fivefold, and ISS reduced the number of consensus errors by tenfold. During the projected period, the RNA Sequencing Market will be fueled by the growing utilization of ion semiconductor sequencing.

RNA Sequencing Market Geographical Share

North America region holds the largest market share of global RNA sequencing   market

The RNA sequencing market in North America is the largest in the world. The RNA sequencing platforms and consumable sector hold the most market share, and the industry's increasing rise in North America can be attributed to the market's constant technological improvements. The presence of major players such as Illumina in the region and increased use of techniques such as ion semiconductor sequencing are moving the RNA sequencing market in North America forward.

RNA Sequencing Companies and Competitive Landscape

The 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 Roche Holding AG,Agilent Technologies, Illumina Inc,Therma Fisher Scientific ,Macrogen Inc, Beijing Genomics Institute, Qiagen, DNASTAR, GATC Biotech AG, Pacific Biosciences of California Inc. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the RNA sequencing market globally. For instance May 2021, PerkinElmer, Inc. has declared the launch of two RUO solutions: the P Kamp TM Variant Detect TM SARS-CoV-2 RT-PCR Assay and the NEXTFLEX Variant-Seq TM SARS-CoV-2 Kit based on Next-Generation Sequencing. Laboratories can use these assays to detect genomic changes linked to SARS-CoV-2 variants using nucleic acid isolated from previously tested positive samples. Clinical laboratories and the healthcare community have been warned about SARS-CoV-2 viral alterations by public health agencies such as the US FDA.

Key Developments

In June 2021, QIAGEN N.V. has received FDA (Food and Drug Administration) approval for an expanded scope of application for their therascreen KRAS RGQ PCR (Polymerase Chain Reaction) Kit. Thanks to a recent regulatory approval, it can now be used as a companion diagnostic in conjunction with Amgen's newly-approved lung cancer targeted drug LUMAKRASTM, thanks to a recent regulatory approval (sotorasib). Following the endorsement, QIAGEN has immediately launched this expanded set of companion diagnostic (CDx) claims for the therascreen KRAS Kit.

In March 2021, Thermo Fisher Scientific Inc. has declared the launch of the Thermo Scientific AerosolSense Sampler, a new surveillance tool designed to provide quick and reliable information on the presence of in-air viruses such as SARS-CoV-2. Individual testing will continue to be important in the COVID-19 pandemic response because it allows for and informs clinical diagnosis, patient triage, and treatment options. As civilization returns to pre-pandemic activity levels, environmental surveillance will become increasingly important in providing relevant information about viral existence.

Roche Holding AG

Overview: Roche Holding AG is a pharmaceutical research and development company. It operates in two divisions: pharmaceuticals and diagnostics. The Pharmaceutical division includes companies like Roche Pharmaceuticals and Chuga. The Diagnostic division comprises four business units: centralized and point-of-care solutions, molecular diagnostics, tissue diagnostics, and diabetes care.

Product Portfolio:

AVENIO Edge System:  The AVENIO Edge System is a pre-analytical plan for target enrichment, sequencing library preparation and quantification processes that provide integrated, end-to-end control and high-quality findings.