NGS-Based RNA-Sequencing Market Size (2024 - 2029)

The NGS-based RNA sequencing market is projected to experience significant growth over the forecast period, driven by the increasing adoption of next-generation sequencing technologies in research and development globally. This expansion is supported by the rising number of product approvals and launches for RNA sequencing platforms and consumables, as well as advancements in precision medicine that enhance targeted therapies. The advantages of NGS-based RNA sequencing, such as cost-effectiveness, accurate gene expression measurement, and comprehensive transcriptome analysis, are expected to further boost its adoption over traditional methods. However, challenges like the lack of standardization, complex data interpretation, and a shortage of skilled professionals may hinder the market's growth.

Market Size of NGS-Based RNA-Sequencing Industry

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NGS-Based RNA-Sequencing Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 3.71 Billion
Market Size (2029) USD 9.27 Billion
CAGR (2024 - 2029) 20.06 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

NGS-Based RNA-Sequencing Market Major Players

*Disclaimer: Major Players sorted in no particular order

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NGS-based RNA-Sequencing Market Analysis

The NGS-Based RNA-Sequencing Market size is estimated at USD 3.71 billion in 2024, and is expected to reach USD 9.27 billion by 2029, growing at a CAGR of 20.06% during the forecast period (2024-2029).

The COVID-19 pandemic had an effect on the growth of the NGS-based RNA sequencing market, as next-generation sequencing has become the research tool of choice for many scientists trying to stop the COVID-19 pandemic.For example, an article in Frontiers in Cellular and Infection Microbiology from March 2021 says that researchers have used next-generation sequencing (NGS) to look at hundreds of coronavirus genomes and the SARS-CoV-2 genome.But because of their many benefits, NGS and RNA sequencing have made more technological progress, which has pushed companies and researchers to use them more.For example, in February 2022, a group of researchers from different institutions led by professors at IIT Jodhpur came up with a way to use artificial intelligence (AI) and genome sequencing to recognize COVID-19 virus RNA variations.So, the studied market is likely to grow because NGS platforms are being used more and more in research and development around the world.

Market growth is being driven by things like the rise in the number of products approved for RNA sequencing platforms and consumables, progress in precision medicine, and the benefits of NGS-based RNA sequencing.

The growing number of product approvals and launches of RNA-sequencing platforms and consumables is anticipated to drive the growth of the market over the forecast period. For instance, in October 2021, Takara Bio USA, Inc. launched the SMART-Seq Pro kit for the ICELL8 cx Single-Cell System, an automated single-cell RNA-seq solution that allows scientists to generate full-length transcriptome data from over 1,500 single cells simultaneously and from a wide range of sample types. Also in September 2021, Alithea Genomics released its first MERCURIUS BRB-seq kits. These kits allow RNA-seq library preparation from a variety of RNA sources with high throughput and low cost.

The fast emergence of next-generation sequencing technology has revolutionized the field of genomics and medical diagnosis and changed the traditional model of a gene-by-gene approach to a syndrome-based panel sequencing, diagnostic exome sequencing (DES), and diagnostic genome sequencing (DGS) precision model.

Additionally, the advancement of precision medicine has provided specific strategies for targeted therapies and medicines for patients with cancer and Mendelian diseases that prove to be better than traditional clinical practices. This is anticipated to fuel the demand for NGS-based sequencing, hence propelling the market's growth. For instance, according to the data published by the CDC, it is projected that by May 2021, more than 60 million people will have their genomes sequenced worldwide by 2025, as countries have taken the initiative to sequence large populations.

Furthermore, NGS-based RNA sequencing has several advantages over traditional methods for transcriptome analysis with cost-effective procedures, such as direct quantification and identification of transcripts, covering an extremely broad dynamic range, providing sensitive and accurate measurement of gene expression, generating both qualitative and quantitative data, and revealing the full transcriptome. Additionally, NGS-based RNA sequencing eliminates cross-hybridization and suboptimal hybridization seen in microarrays. Thus, such advantages are expected to increase their adoption over other conventional methods, which in turn is anticipated to fuel market growth over the forecast period.

Therefore, owing to the factors such as increasing product approvals, advantages of NGS-based RNA sequencing, and growing focus on precision medicine, the studied market is expected to grow over the forecast period. However, the lack of standardization and interpretation of complex data and the lack of skilled professionals are likely to impede the growth of the NGS-based RNA sequencing market over the forecast period.

NGS-based RNA-Sequencing Industry Segmentation

NGS-based RNA-sequencing is a technology used to find out the order of nucleotides in an RNA sequence, according to the report's scope. This technique plays a vital role in analyzing transcriptomics and gene expression. NGS-based RNA-sequencing is a faster and more reliable technology to obtain genetic information from samples, and it does so at a lower cost than ever before with a significant increase in throughput capabilities. The NGS-Based RNA-Sequencing Market is Segmented by Product and Services (Sequencing Platform and Consumables, and Sequencing Services), Technology (Nanopore Sequencing, Sequencing by Synthesis, Ion Semiconductor Sequencing, and Single-Molecule Real-Time Sequencing), Application (Drug Discovery, Diagnostics, Precision Medicine, and Others), End User (Biotechnology and Pharmaceutical Companies, Hospitals, and Clinics, Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America) The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Product and Services
Sequencing Platform and Consumables
Sequencing Services
By Technology
Nanopore Sequencing
Sequencing by Synthesis
Ion Semiconductor Sequencing
Single Molecule Real Time Sequencing
By Application
Drug Discovery
Diagnostics
Precision Medicine
Other Applications
By End-User
Biotechnology and Pharmaceutical Companies
Hospitals and Clinics
Other End-Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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NGS-Based RNA-Sequencing Market Size Summary

The NGS-based RNA-sequencing market is poised for significant growth, driven by advancements in next-generation sequencing technologies and their increasing application in research and development globally. The market is experiencing a surge in demand due to the rising number of product approvals and launches for RNA sequencing platforms and consumables. These advancements are facilitating the transition from traditional gene-by-gene approaches to more comprehensive syndrome-based panel sequencing and precision models, which are proving beneficial in precision medicine, particularly for targeted therapies in cancer and Mendelian diseases. The COVID-19 pandemic has further accelerated the adoption of NGS technologies as researchers leveraged these tools to study viral genomes, highlighting their critical role in contemporary scientific research. The market's expansion is supported by the technological progress in NGS platforms, which offer cost-effective, sensitive, and accurate transcriptome analysis, thereby enhancing their adoption over conventional methods.

North America is expected to be a key region for market growth, fueled by the presence of major biotechnological companies and the early adoption of NGS technologies. The demand for NGS-based RNA sequencing is bolstered by its applications in drug development, clinical procedures, and precision medicine, alongside the introduction of innovative products and strategic collaborations among companies. The market is moderately competitive, with major players like Illumina, Inc., Oxford Nanopore Technologies, and Thermo Fisher Scientific, Inc. leading the charge. These companies are continuously innovating and expanding their product offerings to meet the growing needs of the market. Despite challenges such as the lack of standardization and skilled professionals, the market is expected to witness robust growth, driven by the increasing use of NGS-based RNA sequencing in cancer research and the ongoing advancements in sequencing technologies.

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NGS-Based RNA-Sequencing Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Surge in Products Approvals for RNA-sequencing Platforms and Consumables

      2. 1.2.2 Advancements in Precision Medicine

      3. 1.2.3 Advantages of NGS-based RNA-sequencing

    3. 1.3 Market Restraints

      1. 1.3.1 Lack of Standardization

      2. 1.3.2 Interpretation Of Complex Data And Lack Of Skilled Professionals

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product and Services

      1. 2.1.1 Sequencing Platform and Consumables

      2. 2.1.2 Sequencing Services

    2. 2.2 By Technology

      1. 2.2.1 Nanopore Sequencing

      2. 2.2.2 Sequencing by Synthesis

      3. 2.2.3 Ion Semiconductor Sequencing

      4. 2.2.4 Single Molecule Real Time Sequencing

    3. 2.3 By Application

      1. 2.3.1 Drug Discovery

      2. 2.3.2 Diagnostics

      3. 2.3.3 Precision Medicine

      4. 2.3.4 Other Applications

    4. 2.4 By End-User

      1. 2.4.1 Biotechnology and Pharmaceutical Companies

      2. 2.4.2 Hospitals and Clinics

      3. 2.4.3 Other End-Users

    5. 2.5 Geography

      1. 2.5.1 North America

        1. 2.5.1.1 United States

        2. 2.5.1.2 Canada

        3. 2.5.1.3 Mexico

      2. 2.5.2 Europe

        1. 2.5.2.1 Germany

        2. 2.5.2.2 United Kingdom

        3. 2.5.2.3 France

        4. 2.5.2.4 Italy

        5. 2.5.2.5 Spain

        6. 2.5.2.6 Rest of Europe

      3. 2.5.3 Asia-Pacific

        1. 2.5.3.1 China

        2. 2.5.3.2 Japan

        3. 2.5.3.3 India

        4. 2.5.3.4 Australia

        5. 2.5.3.5 South Korea

        6. 2.5.3.6 Rest of Asia-Pacific

      4. 2.5.4 Middle East and Africa

        1. 2.5.4.1 GCC

        2. 2.5.4.2 South Africa

        3. 2.5.4.3 Rest of Middle East and Africa

      5. 2.5.5 South America

        1. 2.5.5.1 Brazil

        2. 2.5.5.2 Argentina

        3. 2.5.5.3 Rest of South America

NGS-Based RNA-Sequencing Market Size FAQs

The NGS-Based RNA-Sequencing Market size is expected to reach USD 3.71 billion in 2024 and grow at a CAGR of 20.06% to reach USD 9.27 billion by 2029.

In 2024, the NGS-Based RNA-Sequencing Market size is expected to reach USD 3.71 billion.

NGS-based RNA-Sequencing Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)