Research Nester published a report titled “Transcriptomics Market: Global Demand Analysis Opportunity Outlook 2031” which delivers detailed overview of the global transcriptomics market in terms of market segmentation by technology, application, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
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The global transcriptomics market is estimated to grow at a CAGR of ~14% over the forecast period, i.e., 2022 – 2031. The market is segmented on the basis on end-user into clinical research centers, hospitals, specialty clinics, and others, out of which, the clinical research centers segment is anticipated to gain notable revenue during the forecast period. This can be attributed to the increasing investment in the medical research and development activities. According to the World Bank data, 2.204% of the global GDP was spent for RD activities in 2018.
The global transcriptomics market is anticipated to grow on the back of increasing demand for highly potent personalized drugs and treatment methods, to treat cancers, and other rare diseases. Transcriptomics is the analysis of RNA, which is unique for every human being, therefore helps in generating the most effective drug for the patient. Moreover, growing prevalence of cancer is another major factor projected to boost the market growth. According to the data by World Health Organization (WHO), 10 million deaths were caused due to cancer in 2020.
On the basis of geographical analysis, the global transcriptomics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East Africa region. The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing prevalence of rare cancers in the region. A report by the American Cancer Society stated that in the United States, about 60,650 new cases of leukemia were reported in 2021.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Increasing Demand for Personalized Medicines to Fuel the Market Growth
Increasing personalized approach towards treatment of rare diseases, through the study of the patients’ RNA, is estimated to boost the market growth. Moreover, the patients are more aware and accepting about the advanced treatment methods, which is estimated to raise the demand for transcriptomics in the upcoming years. Furthermore, increased disposable income, and higher healthcare expenditure is estimated to further boost the market growth.
However, low availability of skilled researchers is expected to operate as key restraint to the growth of global transcriptomics market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global transcriptomics market which includes company profiling of Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., CD Genomics, F. Hoffmann-La Roche AG, GenXPro GmbH, Qiagen N.V., Illumina, Inc., The Merck Group, Siemens AG, and Thermo Fisher Scientific Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global transcriptomics market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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