RNA Sequencing Being Conducted by Utilizing Multiple Technologies Together
Extensive research in the field of RNA sequencing is being conducted to incorporate the technique in an array of applications, including drug discovery, translational medicine, and diagnostics, among others. In the current scenario, RNA sequencing can be conducted by utilizing various technologies, which include single-molecule-based sequencing, nanopore sequencing, and ion torrent sequencing, among others. The incorporation of RNA sequencing is increasing by end users, which include biopharmaceuticals, life science and biotechnology companies, diagnostic companies, and research and academia.
Earlier, Sanger sequencing techniques and microarray-based methods were used for genome analysis. Compared with the earlier methods, RNA sequencing offers a combination of higher coverage and greater resolution for the analysis of the transcriptome. Current advancements in the RNA sequencing workflow, including sample preparation, sequencing instruments, and data analysis software, among others, have significantly provided unprecedented opportunities for executing transcriptome profiling.
According to the recent market intelligence published by BIS Research, titled Global RNA Sequencing Market — Analysis and Forecast, 2019–2029, the market is projected to reach $3,521.0 million by 2028 from $976.1 million in 2018, at a CAGR of 14.21%. Growth in the market is anticipated to be driven by an enhanced utility in patient stratification and therapeutic research and significant external funding for executing research and development to fill in the current diagnostic and treatment gaps. However, there are potential restraining factors hindering the growth of the market.
A sharp shift in the dynamics of the RNA sequencing market is expected to be witnessed around the forecast period 2019–2028 with the introduction of portable and real-time technologies in full scale. The leading players in the market are undertaking the necessary steps to tackle the shift in dynamics and sustain the competition.
The North America RNA sequencing market has witnessed massive growth, attributing to the increasing demand for precision diagnostics for early disease detection for effective disease management. The developments have been instrumental in improving the quality of life, followed by developing specific treatment methods, boosting the growth of the overall RNA sequencing market. The market size of RNA sequencing was estimated to be $406.6 million in 2018 for North America.
Additionally, the majority of the players in the global RNA sequencing market prefer to combine forces to expand their respective product portfolios and also enter the untapped markets to enhance their worldwide footprint.