Transcriptomics Market

Market Overview

The global transcriptomics market size was valued at USD 5.36 billion in 2020. It is expected to reach USD 27.89 billion by 2030, growing at a CAGR of 20.11% during the forecast period (2022–2030).

Transcriptomics is the transcriptome study, a collective term for all transcripts. A transcriptome is a complete collection of all the ribonucleic acid (RNA) molecules expressed in an organism, cell, or tissue. In addition, transcriptomics encompasses all aspects of RNA, such as transcription and expression levels, locations, functions, trafficking, and degradation. The field of genomics has established itself as a focal point of academic scientific research and clinical medicine. Significant advances in science and technology, such as precision medicine, next-generation sequencing (NGS), and RNA-sequencing, have created opportunities for public healthcare.

Emerging RNA-sequencing improves genetic variations and disease-diagnosis regions that are difficult to access with next-generation sequencing techniques. A significant innovation in sequencing technologies and computational tools has made it possible to conduct a growing number of genomic studies, resulting in an explosion of data. In-depth analyses are required to derive potential insights from genomic project and initiative data. These insights are then used to improve clinical outcomes. Biotechnology firms are making substantial investments in research and development (R&D) to expand their respective bioinformatics pipelines for research and clinical applications to meet this crucial demand relating to genomic data analysis in the downstream stages. As the next frontier of precision medicine, the global transcriptomics market can potentially revolutionize patient care and overall health.

Market Dynamics

Market Driving Factors

Increasing Application of NGS and RNA-Sequencing to Drive Market

Next-generation sequencing (NGS), also known as high-throughput sequencing, is utilized for DNA and RNA analysis. The introduction of sequencing technologies, particularly next-generation sequencing (NGS), has revolutionized diagnosing genetic disorders, enabling physicians to provide even more comprehensive clinical insights. RNA-sequencing enables a more detailed analysis and resolution of the dynamic nature of the transcriptome. Recent developments in RNA-sequencing have substantially affected sample preparation, sequencing, and data analysis. This is useful for profiling the transcriptome and determining the potential to explain various physiological and pathological parameters.

The NGS and RNA-sequencing methods sequence millions of nucleotide fragments for transcriptome analysis. Illumina's HiSeq series of sequencers is the primary platform for RNA-Seq, providing high throughput, deep sequencing, fewer sequencing errors, and long enough read data that are advantageous for various applications. Additionally, PacBio RS II is gaining popularity in constructing transcriptomes to produce long reads. Increasing NGS and RNA-sequencing applications have a positive effect on the transcriptomics market.

Increasing Popularity to Favor Market Growth

Prostate cancer, acute lymphoblastic leukemia, and hepatocellular carcinoma are among the clinical applications of transcriptomics in precision medicine. The transcriptome study is essential for identifying disease pathways and designing specific and effective drugs. The most advanced and efficient method for studying these levels is the development of next-generation sequencing and RNA-sequencing. Transcriptome research aims to comprehend and uncover how the transcripts of a cell or tissue function when they are influenced by disease and their response to treatment.

Precision medicine contributes to the development of drugs and the treatment of various illnesses, including cancer. These are utilized in numerous applications, including oncology, cell therapy, immunology, and neurology. The continuous development of molecular technologies is utilized for transcriptome analysis, and the implementation of NGS platforms has drastically altered the landscape of RNA research. RNA-sequencing is gaining importance in cancer patient clinical care, preclinical research, and fundamental science. This understanding of molecular mechanisms, particularly cancer, has accelerated numerous trials related to transcriptome-based personalized oncology.

Market Restraining Factors

High Cost, Lack of Tool, and Infrastructure to Hinder Market Growth

The procedures of next-generation sequencing and RNA-sequencing are costly. Specific processes, including DNA or RNA isolation, library preparation, sequencing reagents, data analysis, and storage, are considered to execute these methods. To conduct such research, it is critical to have skilled professionals trained in proper technique maintenance. Consequently, a lack of clarity regarding transcriptomics research and high maintenance costs hinder disseminating technical knowledge regarding this market. NGS and RNA-sequencing require computational tools for data analysis, but such tools are currently unavailable.

Techniques such as microarray generate enormous data. Consequently, researchers frequently struggle with the interpretation of results. In addition, RNA-sequencing data from transcriptomics studies have a low genome coverage and a high amplification bias, making data analysis difficult. The analysis of transcriptomics data has not supported many sequencing techniques. Therefore, such software and databases are required to evaluate the quantitative analysis of transcripts. This type of research necessitates expansive laboratories and skilled personnel to generate data related to transcriptomics. Among others, this is typically conducted in research institutes and pharmaceutical companies.

Key Market Opportunities

Biomarker Discovery and Expansion of Research Applications to Boost Market Opportunities

It is essential to recognize the dynamic nature of this field as genomics and data analysis continue to make rapid strides forward. Older technologies are giving way to newer ones to comprehend the complexities of genome behavior in healthy and diseased individuals with greater specificity as time passes. It is essential to note that RNA-sequencing, microarray, PCR, and NGS significantly advance the transcriptomics market. Understanding the various factors contributing to a successful disease diagnosis is becoming faster and more accurate due to technologies such as NGS. These developments offer an unrivaled chance to significantly advance the field of data analysis in diagnostics and offer opportunities for expanding the global transcriptomics market.

A biomarker is a biological marker that can detect the presence or progression of a disease or the effectiveness of treatment. Expansion of biomarker discovery would play a crucial role in diagnosing any disease through transcriptomics. Biomarkers are helpful in screening, diagnosing, prognosis, and monitoring diseases such as cancer, myocarditis, melioidosis, and chronic kidney disease. New drug development is a multidisciplinary and systematic process. Next-generation sequencing, RNA-sequencing, and microarrays have facilitated the discovery of biomarkers in diseases and their drug targets. These techniques are currently employed in various research fields, including biological, medical, clinical, and pharmaceutical. RNA-sequencing is advantageous for detecting biomarkers and drug discovery, increasing its applications.

Segmental Analysis

the global transcriptomics market is segmented by product, technology, application, and end-user.

On the Basis of Products

Based on products, the global market has been segmented into instruments, consumables, and software.

The consumables segment dominates the market and is expected to grow at a CAGR of 12.15% during the forecast period. Consumables such as assays and reagents are used as investigative tools in molecular biology, pharmacology, laboratory medicine, and environmental biology for qualitative or quantitative measurement of a target entity's presence, quantity, or functional activity (the analyte). Transcriptomics consumables market consists of kits and panels of library preparation, target enrichment, and sequencing. For RNA analysis, kits specific to their application are manufactured, translating into a high cost compared to the kits available for NGS sequencing.

Therefore, critical manufacturers of kits and panels are trying to streamline and simplify the RNA analysis workflow by providing ready-to-use kits and panels capable of conducting a more significant number of reactions at a lesser cost. Consumables such as assays and reagents are used as investigative tools in molecular biology, pharmacology, laboratory medicine, and environmental biology for qualitative or quantitative measurement of a target entity's presence, quantity, or functional activity (the analyte).

On the Basis of Technology

Based on technology, the market is segmented into Next-Generation Sequencing (NGS), Polymerase Chain Reaction (PCR), Microarray, Mass Cytometry, and Other Techniques.

The next-generation sequencing (NGS) segment dominates the global transcriptomics market and is expected to grow at a CAGR of 22.11% during the forecast period. Recent technological advancements such as sample multiplexing, comprehensive genome coverage, higher sensitivity, and simultaneous extensive genome sequencing have fueled this segment's growth. Next-generation sequencing (NGS) is increasingly used in genome research. With low-cost and high-quality genome sequencing, researchers can expand its use in cell analysis to understand genome and transcriptome architecture. Researchers could generate cost-effective and robust sequence data using enhanced sequencing platforms with long-read technologies.

Advances in sample preparation reduced sequencing costs and increased instrument output promoted the use of NGS in RNA analysis, especially in RNA genomics and transcriptomics.

On the Basis of Applications

Based on applications, the global transcriptomics market has been sub-segmented into drug discovery and development, diagnostics, cell biology, single-cell analysis gene expression, and others.

Drug discovery and development is dominating the market and is expected to grow at a CAGR of 20.22% during the forecast period. Compared to the conventional methods of RNA-sequencing, the field of transcriptomics, which includes single-cell RNA-sequencing (scRNA-seq) and high-plex imaging, offers significant technological advancements for the detection of biomarkers and the discovery of new drugs. The high throughput techniques required for identifying therapeutic targets to advance drug development can help the market grow. Introducing new methods, such as high-throughput RNA-sequencing and microarrays, into clinical and pharmaceutical research has also contributed to the market expansion.

On the Basis of End-Users

Based on end-users, the global transcriptomics market has been sub-segmented into academic and research institutions, biotechnology, and biopharmaceutical companies.

The academic and research institutions segment is dominating the market and is expected to grow at a CAGR of 22.40% during the forecast period. Research organizations are both integral components of businesses and independent academic research institutions. The primary application of next-generation sequencing is in research, where biomarkers are identified and drugs are developed while acquiring targets from cell analysis. In addition, it is the responsibility of research organizations to investigate new avenues for advancing molecular diagnostic technologies and capabilities.

Regional Analysis

The global transcriptomics market is segmented into four regions, namely North America, Europe, Asia-Pacific, and Latin America.

The North American region dominated the global transcriptomics market and is expected to reach USD 11.42 billion in 2030, growing at a CAGR of 20.51% during the forecast period. Well-established pharmaceutical companies are driving the North American transcriptomics market, a growing need for novel treatment options in research, diagnostics, and synthetic biology, as well as the prevalence of cancer, infectious diseases, and chronic diseases. Growing demand for RNA-based NGS drives the U.S. transcriptomics market.

Manufacturers rely on NGS technology to provide a more comprehensive picture of diseases at a gene and cell resolution. Research institutions are also developing new protocols for cell analysis, revolutionizing biomedical research. This is expected to increase next-generation sequencing adoption in the U.S. for diagnostic and therapeutic use.

Recent Developments

• May 2022- PacBio Collaborated with iLAC and Robotic Biology Institute to Develop Automated Workflows. PacBio (NASDAQ: PACB), a leading provider of high-quality, highly accurate sequencing solutions, announced a collaboration with genome analysis company iLAC, Inc. (iLAC) and Robotic Biology Institute, Inc. (RBI) to develop fully automated end-to-end workflows for PacBio's Sequel II and Sequel IIe HiFi long-read sequencing systems.
• April 2022- Scitara announced a collaboration with PerkinElmer Informatics to create a new model of the modern lab. Sitara, a market-leading innovator in digital laboratory transformation, has announced a partnership with PerkinElmer, a leader in scientific-analytical technology.
• February 2022- Moderna and Thermo Fisher Scientific Announced Long-Term Strategic Collaboration. Moderna, Inc. (Nasdaq: MRNA), a biotechnology company that pioneers messenger RNA (mRNA) therapeutics and vaccines, and Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, have announced a 15-year strategic collaboration agreement to enable dedicated large-scale manufacturing in the United States.

Transcriptomics Market Segmentation

By Products

• Instruments
• Consumables
• Software

By Technology

• Next-Generation Sequencing (NGS)
• Polymerase Chain Reaction (PCR)
• Microarray
• Mass Cytometry
• Others

By Applications

• Drug Discovery and Development
• Diagnostics
• Cell Biology
• Single-Cell Analysis Gene Expression

By End-User

• Academic and Research Institutions
• Biotechnology and Biopharmaceutical Companies

By Regions

• North America
• Europe
• Asia-Pacific
• Latin America