Market Size of Global Transcriptomics Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 6.50 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Transcriptomics Market Analysis
The transcriptomics market is expected to register a CAGR of 6.5% over the forecast period.
COVID-19 adversely impacted the life science and pharmaceutical industries in the beginning globally. Due to the high transmission rate and lack of treatment for COVID-19, the shutdown of research and academic institutes, supply chain disruptions, and trade restrictions, 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. According to the 2020 results published by 10X Genomics Inc., the company observed a drop of 23.0% compared to 2019. However, the situation eventually improved. For instance, in June 2020, NanoString Technologies Inc. launched new solutions to study the immune response in COVID-19 disease research. The company launched the nCounter Host Response Gene Expression Panel and the COVID-19 Panel Plus spike-in to comprehensively analyze viral infection and immune response. Thus, the COVID-19 pandemic had a positive impact on the studied market.
In addition, the increasing research and development related to diagnostics and drug discovery in transcriptomics, increasing prevalence of chronic diseases such as cancer and neuromuscular disorder, and increase in applications of transcriptomics are actively affecting the growth of the studied market.
The product launches, expansions, collaboration and acquisitions by key market players is expected to drive the market growth significantly. For instance, in February 2020, Caris Life Sciences launched its newest addition to its comprehensive genomic profiling offering, MI Transcriptome, which enables Whole Transcriptome Sequencing (WTS). MI Transcriptome uses the capabilities of high-throughput sequencing to gain insight into the RNA profiles of patients' tumors and builds upon Caris' offering of the most comprehensive tumor profiling approach, which assesses DNA, RNA, and proteins to ensure patients receive the right therapies. Such product launches is likely to work in favor of the market growth.
Furthermore, in February 2020, Dovetail Genomics announced the global availability of its Dovetail HiChIP and Micro-C Kits. The companies are undertaking strategies to expand their customer base across the world which will augment the market growth.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, a lack of awareness regarding technology and stringent regulatory policies is likely to impede the market growth.
Transcriptomics Industry Segmentation
As per the scope of the report, transcriptomics is the study of the entire set of RNA transcripts produced by the genome of any organism. The report highlights a detailed analysis of infectious disease diagnostics. The transcriptomics market is segmented by technology (microarray, real-time quantitative polymerase chain reaction (Q-PCR), and sequencing technologies), product (consumables, instruments, and other products), application (diagnostics and disease profiling, drug discovery, and other applications), 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 Technology | |
Microarray | |
Real-time Quantitative Polymerase Chain Reaction (Q-PCR) | |
Sequencing Technologies |
By Product | |
Consumables | |
Instruments | |
Other Products |
By Application | |
Diagnostics and Disease Profiling | |
Drug Discovery | |
Other Applications |
Geography | ||||||||
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Global Transcriptomics Market Size Summary
The transcriptomics market is poised for significant growth, driven by increasing research and development in diagnostics and drug discovery, as well as the rising prevalence of chronic diseases such as cancer and neuromuscular disorders. The market experienced initial setbacks due to the COVID-19 pandemic, which disrupted supply chains and research activities. However, the pandemic also spurred innovation, with companies like NanoString Technologies Inc. and 10X Genomics adapting their offerings to support COVID-19 research. This shift highlighted the critical role of transcriptomics in understanding disease mechanisms, particularly in the context of viral infections. The market is further bolstered by strategic initiatives from key players, including product launches, collaborations, and expansions, which are expected to enhance the adoption of transcriptomics technologies across various applications.
North America is anticipated to lead the transcriptomics market, supported by favorable government policies, robust healthcare infrastructure, and a high concentration of industry players. The region's market growth is further fueled by technological advancements and strategic partnerships, such as those between Illumina Inc. and Nashville Biosciences LLC, which aim to accelerate drug development through large-scale genomics. The competitive landscape is characterized by a mix of global and regional companies, with key players like F. Hoffmann-La Roche AG, Thermo Fisher Scientific, and Illumina Inc. driving innovation and market expansion. Despite the market's fragmentation, these companies are actively developing novel instruments and techniques to enhance disease diagnostics and treatment, ensuring continued growth over the forecast period.
Global Transcriptomics Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Research and Development in Transciptomics
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1.2.2 Increasing Prevalence of Chronic Illnesses
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1.2.3 Increase in Applications of Transcriptomics
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1.3 Market Restraints
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1.3.1 Lack of Awareness Regarding the Technology
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1.3.2 Stringent Regulatory Policies
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Technology
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2.1.1 Microarray
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2.1.2 Real-time Quantitative Polymerase Chain Reaction (Q-PCR)
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2.1.3 Sequencing Technologies
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2.2 By Product
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2.2.1 Consumables
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2.2.2 Instruments
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2.2.3 Other Products
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2.3 By Application
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2.3.1 Diagnostics and Disease Profiling
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2.3.2 Drug Discovery
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2.3.3 Other Applications
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle-East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle-East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Global Transcriptomics Market Size FAQs
What is the current Global Transcriptomics Market size?
The Global Transcriptomics Market is projected to register a CAGR of 6.5% during the forecast period (2024-2029)
Who are the key players in Global Transcriptomics Market?
F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific, Merck KGaA, GE Healthcare and Bio-Rad Laboratories are the major companies operating in the Global Transcriptomics Market.