Overview and Scope
RNA sequencing is a high-throughput technique used to analyze the presence and quantity of RNA molecules within a sample, providing insights into gene expression levels and transcriptomic dynamics. It is used to explore gene expression patterns and regulatory mechanisms in many biological processes, such as development, illness, and response to stimuli.
Sizing and Forecast
The RNA sequencing services market size has grown rapidly in recent years. It will grow from $3.22 billion in 2023 to $3.58 billion in 2024 at a compound annual growth rate (CAGR) of 11.1%. The growth in the historic period can be attributed to growing demand for personalized medicine, advancements in bioinformatics tools, increasing focus on drug discovery and development, rising adoption of RNA sequencing in agricultural research, and expanding applications in clinical diagnostics.
The RNA sequencing services market size is expected to see rapid growth in the next few years. It will grow to $5.51 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to emergence of single-cell RNA sequencing technologies, integration of artificial intelligence and machine learning in data analysis, expanding research in non-coding RNA biomarkers, rising demand for transcriptomic analysis in immunotherapy research, growing collaborations between academia and industry in genomic studies. Major trends in the forecast period include long-read sequencing adoption, cloud-based analysis platforms, demand for RNA splicing analysis, and multi-omics data integration.
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Segmentation & Regional Insights
The RNA sequencing services market covered in this report is segmented –
1) By Type: Ribosomal RNA (rRNA), Transfer RNA (tRNA), Long non-coding RNA (lncRNA)
2) By Sequencing Method: Next Generation Sequencing Methods, Other Sequencing Methods
3) By Application Area: Research Purposes, Diagnostic Purposes
4) By End Users: Academic And Government Institutes And Research Centers, Hospitals And Clinics, Pharmaceutical And Biotechnology Companies, Other End Users
North America was the largest region in the RNA sequencing services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the RNA sequencing services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing demand for personalized medicine is significantly contributing to the growth of the RNA sequencing services market. Personalized medicine refers to tailoring medical treatment to individual characteristics, such as genetics or lifestyle, to optimize effectiveness and minimize adverse effects. The growing demand for personalized medicine is driven by its potential to provide more effective treatments, advancements in genomics, increasing disease complexity, and regulatory support. RNA sequencing services help to identify disease subtypes, discover biomarkers, identify therapeutic targets, predict therapy responses, and track disease progression and treatment results. Personalized medicine techniques use RNA sequencing technologies to give individualized and effective medicines that target the unique molecular characteristics of individual patients. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA (Food and Drug Administration) approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. The newly approved personalized treatments for 2023 also include seven cancer drugs and three for other diseases and conditions. Thus, the increasing demand for personalized medicine is driving the growth of the RNA sequencing services market going forward.
Key Industry Players
Major companies operating in the RNA sequencing services market are Thermo Fisher Scientific Inc., Feng Chi Biotech Corp., Illumina Inc., Qiagen NV, BGI Genomics Co. Ltd., Azenta Inc., Abcam Limited, Novogene Co. Ltd., Genewiz Inc., Diagenode LLC, CD Genomics, CeGaT GmbH, Lexogen GmbH, BaseClear BV, Active Motif Inc., Microsynth AG, RayBiotech Inc., Genomax Technologies Pte. Ltd, Phalanx Biotech Group Inc., Creative Biogene, SeqMatic LLC, Genohub Inc., Otogenetics, LC Sciences, Admera Health, Arraystar Inc., IGA Technology, Yaazh Xenomics
The rna sequencing services market report table of contents includes:
1. Executive Summary
2. RNA Sequencing Services Market Characteristics
3. RNA Sequencing Services Market Trends And Strategies
4. RNA Sequencing Services Market – Macro Economic Scenario
5. Global RNA Sequencing Services Market Size and Growth
…
32. Global RNA Sequencing Services Market Competitive Benchmarking
33. Global RNA Sequencing Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The RNA Sequencing Services Market
35. RNA Sequencing Services Market Future Outlook and Potential Analysis
36. Appendix
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