Global Transcriptomics Market 2024

The growth of the transcriptomics market is anticipated to be driven by several factors. Firstly, the decreasing cost of sequencing has made transcriptomics more accessible and affordable, leading to increased adoption. Secondly, there is a global rise in the application of next-generation sequencing (NGS) and RNA sequencing (RNA-seq) in transcriptomics, which has expanded the scope of research in this field. Additionally, advancements in transcriptomics sequencing products, including improved technologies and tools, have contributed to market growth.

However, certain challenges hinder the expansion of the market. The high cost and maintenance requirements of NGS and RNA-seq platforms pose obstacles to their widespread adoption. Furthermore, the lack of computational analysis tools for transcriptomics data adds complexity to data interpretation and limits the progress of research in this area.

In terms of market share, the consumables segment holds the largest contribution. In 2023, the consumables segment was valued at USD 3.2 billion and is projected to reach USD 8.3 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 14.5% during the forecast period. The increasing demand for consumables, driven by researchers and diagnostic clinics utilizing sequencing analysis for disease understanding and risk analysis, fuels the growth of this segment.

Next-generation sequencing is the dominant technology used in transcriptomics. The next-generation sequencing segment was valued at USD 2.7 billion in 2023 and is expected to reach USD 8.8 billion by 2029, with a CAGR of 18.5%. This growth can be attributed to recent technological advancements, such as sample multiplexing, comprehensive genome coverage, higher sensitivity, and simultaneous sequencing of large genomes.

The drug discovery and development segment accounted for the largest share of the global transcriptomics market in 2023. Valued at USD 2.7 billion in 2023, this segment is projected to reach USD 7.3 billion by 2029, with a CAGR of 17.1%. Factors driving this growth include increasing research focus on drug discovery, rising funding initiatives, and growing industry-academic collaborations.

The North America region is expected to dominate the global transcriptomics market during the forecast period of 2024-2029. The North America segment was valued at USD 3.2 billion in 2023 and is projected to reach USD 9.0 billion by 2029, with a CAGR of 16.1%. This dominance is fueled by the high adoption rate of sequencing technologies and transcriptomics sequencing solutions in the region. The United States, in particular, has a strong presence in the sequencing marketplace, with advancements in sequencing technologies and bioinformatics supported by government research initiatives.

The Asia-Pacific region is expected to witness the highest CAGR during the forecast period. Factors contributing to this growth include increasing healthcare awareness, a stable economy leading to greater focus on genomic research, and widespread adoption of genome sequencing as a standard of care.

This comprehensive industry report provides market estimates and forecasts, accompanied by a detailed examination of the component, technology, application, end user, and region aspects. It delivers a quantitative analysis of the market, empowering stakeholders to leverage existing market opportunities. Furthermore, the report identifies key segments for potential opportunities and strategies, drawing insights from market trends and the approaches of leading competitors.

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The global market for transcriptomics can be segmented by component: consumables, instruments, software. Consumables held the highest share in the global transcriptomics market. However, the software segment is forecast to register the highest CAGR during the forecast period 2024 - 2030.
Transcriptomics market is further segmented by technology: next-generation sequencing, polymerase chain reaction, microarray, mass cytometry, others. Next-generation sequencing held the largest share in the global transcriptomics market, accounting for 34.2% of the market in 2023. Moreover, the segment is anticipated to grow at the highest CAGR in the coming years.
Based on application, the transcriptomics market is segmented into: drug discovery and development, diagnostics, cell biology, single cell analysis, gene expression, others. Drug discovery and development held the highest share in the global transcriptomics market. However, the diagnostics segment is forecast to register the highest CAGR during the forecast period 2024 - 2030.
On the basis of end user, the transcriptomics market also can be divided into: academic, pharmaceutical companies, others. Academic held the largest share in the global transcriptomics market, accounting for 42.7% of the market in 2023. Moreover, the segment is anticipated to grow at the highest CAGR in the coming years.
Transcriptomics market by region is categorized into: North America, Europe, Asia-Pacific, MEA (Middle East and Africa), Latin America. North America held the highest share in the global transcriptomics market. However, Asia-Pacific is forecast to register the highest CAGR during the forecast period 2024 - 2030.

The report also provides a detailed analysis of several leading transcriptomics market vendors that include Pacific Biosciences of California, Inc., Thermo Fisher Scientific, Inc., Agilent Technologies, Inc., Illumina, Inc., QIAGEN, N.V., Bio-Rad Laboratories, Inc., Takara Bio Inc., PerkinElmer Inc., Standard BioTools Inc., 10x Genomics, Inc., NanoString Technologies, Inc., Becton, Dickinson and Company (BD), Bio-Techne Corporation, Pall Corporation, BioSpyder Technologies Inc., ANGLE plc, Menarini Silicon Biosystems S.p.A., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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Market Segments Covered in Global Transcriptomics Industry Analysis:
i.) Component
- Consumables
- Instruments
- Software

ii.) Technology
- Next-generation sequencing
- Polymerase chain reaction
- Microarray
- Mass cytometry
- Others

iii.) Application
- Drug discovery and development
- Diagnostics
- Cell biology
- Single cell analysis
- Gene expression
- Others

iv.) End user
- Academic
- Pharmaceutical companies
- Others

v.) Region
- North America
- Europe
- Asia-Pacific
- MEA (Middle East and Africa)
- Latin America