Transcriptomics Technologies Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Transcriptomics Technologies Market is segmented By Technology (Microarray, PCR, Gene Regulation Technologies, Next-generation Sequencing), By Application (Clinical Diagnostics, Drug Discovery and Research, Bioinformatics, Comparative Transcriptomics), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Market Overview

Transcriptomics technologies are the techniques used to study an organism’s transcriptome, the sum of its RNA transcripts.

The global transcriptomics technologies market size was valued USD YY billion in 2023 and is estimated to reach USD YY billion by 2031, growing at a CAGR of YY % during the forecast period (2024-2031).

Market Scope

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Market Dynamics

Technological advancements and initiatives taken by manufacturers in next-generation sequencing are expected to drive the growth of the market.

The rapid cost drop and advancements in next-generation sequencing have made profiling cells at the individual level a conventional practice in scientific laboratories worldwide. Single-cell transcriptomics [single-cell RNA sequencing (SC-RNA-seq)] has an immense potential of uncovering the novel basis of human life. The well-known heterogeneity of cells at the individual level is better studied by single-cell transcriptomics.

The introduction of new microarrays is expected to propel growth of the global transcriptomics technologies market over the forecast period. For instance, in March 2020, Agilent Technologies Inc. launched Agilent GenetiSure Cyto microarrays for prenatal and postnatal research.

In addition, initiatives to advance personalized medicine are also expected to boost the growth of the market. For instance, in April 2020, Indivumed GmbH, an oncology company, launched the Oncology Alliance for Individualized Medicine, an international collaborative alliance to advance personalized medicine in cancer through IndivuType, the company’s multi-omics database

Drawbacks of RNA-seq genomic and transcriptomic data into mechanistic models of signaling pathways are expected to hamper the market's growth.

RNA-seq genomic performs many tasks but has two major drawbacks. First, the genomic information contained in the RNA-Seq reads usually remains unused. However, genomic variants, which may contain crucial information about the functionality and potential activity of the resulting proteins in the different processes where they participate, can be retrieved from such sequences. In this sense, it is well known that RNA-Seq has some limitations for DNA variant calling. There are two main points to consider lowly expressed genes include lower depth. Hence, variant calling is harder in those regions, and the detection of heterozygous variants can be limited due to allele-specific gene expression.

The second major drawback is that conventional functional analysis strategies are mainly descriptive and very limited in providing biological insights into the underlying molecular mechanisms that produce the observed phenotypic responses. Hence, the drawbacks of RNA-seq genomic and transcriptomic data into mechanistic models of signaling pathways are expected to hamper the market's growth.

Lack of efficient data analysis tools and complex data management are likely to hinder the market growth

With growing technological advancements, there has been an increasing concern related to the data complexity post-analysis of transcripts through sequencing platforms. Complex data management is one of the major limitations faced in transcriptome research. The data complexity is high and further increases with advances in the subsequent RNA analysis methodologies. Hence, the lack of efficient data analysis tools is expected to hinder the growth of the market.

COVID-19 Impact Analysis

The COVID-19 pandemic has affected the healthcare systems and has a notable impact on the market. Transcriptomic profiling of liquid biopsies, especially microRNAs (miRNAs), has recently emerged as a vital source of potential clinical indicators for medical decision-making. Moreover, countries have suffered and are continuing to bear a significant burden on both their economies and healthcare systems, leading to the shutting down of research and academic institutes. There has been a decline in the sales of reagents and consumables used for transcriptomics analysis. As per the annual report of 2020 by Nanostring Technologies Inc., the company witnessed a massive decline of 18% in its Consumables segment compared to 2019. Therefore, market players are engaged in introducing novel solutions with a competitive advantage to enhance their market position in the coming years.

Segment Analysis

Next-generation sequencing segment is expected to hold the largest share of this market segment

The next-generation sequencing segment dominated the market and held the largest revenue share in 2020. The benefits offered by next-generation sequencing techniques are higher sensitivity to detect low-frequency variants, the faster turnaround time for high sample volumes, higher throughput with sample multiplexing, the ability to sequence hundreds to thousands of genes or gene regions simultaneously.

Moreover, rapid technological advancements enabling the analysis of cellular transcriptome from several dimensions, expanding application areas of NGS, and the increasing outsourcing of sequencing technologies are propelling the segment's growth. Recent advances in next-generation sequencing technologies have paved the path for a considerable amount of sequencing data at a relatively low cost. It has revolutionized genomics and transcriptomics studies. Though there is a handful of commercial software and tools for some of the procedures, the cost of such tools has made them limiting for most research laboratories. While individual open-source or free software tools are available for most bioinformatics applications, those components usually operate standalone and are not combined for a user-friendly workflow. Therefore, beginners in bioinformatics might find analysis procedures starting from raw sequence data too complicated and time-consuming with the associated learning curve.

The procedure for de novo transcriptome assembly and Simple Sequence Repeats (SSR) primer design is only based on available online tools for free use. The biologists used Illumina HiSeq reads of different tissue samples of Santalum album (sandalwood) to validate the developed workflow generated from a previous transcriptomics project. In addition, a portion of the designed primers is tested in the lab with relevant samples, and all of them successfully amplified the targeted regions. The presented bioinformatics workflow can accurately assemble quality transcriptomes and develop gene-specific SSRs. Thus, beginner biologists and researchers in bioinformatics can easily utilize this workflow for research purposes. Hence, from the above statements, the next-generation sequencing segment holds the largest market share.

Drug Discovery and Research segment is expected to hold largest share in this market segment

The drug discovery and research segment dominated the market and held the largest revenue share in 2020, owing to the rigorous research and development initiatives in genomics and proteomics and the application of RNA sequencing technologies in analytical research, increasing private and government funding for research along with R&D investments by pharmaceutical and biotechnology companies are expected to fuel industry growth. For instance, according to the article (medrxiv), in 2021, genome-based diagnostic rates cap at approximately 50% across diverse Mendelian diseases. Here we demonstrate the effectiveness of combining genomics, transcriptomics, and, for the first time, proteomics and phenotypic descriptors in a systematic diagnostic approach to discover the genetic cause of mitochondrial diseases. On fibroblast cell lines from 145 individuals, tandem mass tag labeled proteomics detected approximately 8,000 proteins per sample and covered over 50% of all Mendelian disease-associated genes. By providing independent functional evidence, aberrant protein expression analysis allowed validation of candidate protein-destabilizing variants and variants leading to aberrant RNA expression. Overall, our integrative computational workflow led to genetic resolution for 21% of 121 genetically unsolved cases and discovered two novel disease genes. With the increasing democratization of high-throughput omics assays, our approach and code provide a blueprint for implementing multi-omics-based Mendelian disease diagnostics in routine clinical practice.

Moreover, systematic application of RNA sequencing (RNA-seq) has proven valuable in reducing the diagnostic shortfall of whole-exome sequencing (WES) or whole-genome sequencing (WGS) by providing a molecular diagnosis to 10% of unsolved cases with mitochondrial disease and up to 35% in other disease cohorts. However, while proteomics has been used to validate variants of uncertain significance (VUS) in single cases, the utility of systematic application into a diagnostic pipeline has yet to be explored. Thus, from the above statements, the drug discovery and research segment hold the largest market share.

Geographical Analysis

North America region holds the largest market share of global transcriptomics technologies market

North America dominated and accounted for the market's largest revenue share in 2020. The region is primarily driven by numerous biotech companies with well-established infrastructure and advanced technological platforms. The increasing investment from private organizations for transcriptomics research assists companies in the region in developing targeted therapeutics. For instance, On June 1, 2021. CeMM developed a new method SciFi-RNA-seq' (for single-cell combinatorial fluidic indexing), enabling single-cell RNA sequencing in a very large number of individual cells simultaneously. In April 2017, NuGEN Technologies, Inc. launched two new products, Universal Plus mRNA-Seq and Trio RNA-Seq kits, allowing RNA sequencing with greater efficiency from routine samples. Moreover, various academic and research institutes' transcriptome studies are fuelling the region's growth.

Competitive Landscape

The global transcriptomics technologies market is vast with the presence of local as well as global companies.  Some of the key players that are contributing to the growth of the market include F. Hoffmann-La Roche Ltd., Kreatech Inc., Cytognomix Inc., Biological Industries Ltd, Oxford Gene Technology Ltd., Abbott Laboratories, Molecular Devices LLC, Thermo Fisher Scientific Inc., Qiagen N. V., Agilent Technologies Inc. and SciGene Corp. The major players are adopting several growth strategies such as Technology launches, acquisitions, and collaborations, which are contributing to the growth of the market globally. For instance,

• In March 2020, Agilent Technologies Inc. launched Agilent GenetiSure Cyto microarrays for prenatal and postnatal research.
• In March 2020, Illumina, Inc. partnered with IDbyDNA Inc., a metagenomics technology company, for R&D of next-generation sequencing-based workflows.
• In June 2018, Agilent Technologies Inc. received the U.S. Food and Drug Administration (FDA) approval for its Dako PD-L1 IHC 22C3 pharmDx assay used for determining PD-L1 expression in cervical cancer.

Transcriptomics Technologies Market Key Companies to Watch

Thermo Fisher Scientific Inc.:

Overview:

Thermo Fisher Scientific Inc. was founded in 2006 and headquartered in Waltham, Massachusetts, U.S. It provides analytical instruments, equipment; reagents & consumables; and software & services – for research manufacturing, analysis, discovery, and diagnostic applications. The company’s premier brands include – Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services. The company operates through four business segments, Analytical Instruments, Life Sciences Solutions, Laboratory Products and Services, and Specialty Diagnostics. The company provides next-generation sequencing products under the Life Sciences Solution business segment.

Product Portfolio:

Thermo Fisher Scientific Inc. has continuously into manufacturing of next-generation sequencing products. The company offers Ion GeneStudio S5 System, Ion Torrent Genexus System.

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