Report Overview

According to the deep-dive market assessment study conducted by Growth Plus Reports, the global transcriptomics market was pegged at US$ 4.5 billion in 2021 and is expected to register a revenue CAGR of 13.50% to reach US$ 14.17 billion by 2030.

Market Fundamentals

Transcriptomics is the study of RNA molecules and their functions in the cell. RNA information is derived from DNA, and it consists of information required to produce proteins. The entire process of producing RNA from DNA is known as central dogma. The key purpose of transcriptomics is to enlist all species of transcripts i.e., small RNA, mRNA (messenger RNA), and non-coding RNA. The techniques used for the analysis of the genome are microarrays, SAGE (Serial analysis of gene expression), and RNA sequencing. Microarrays quantify a prearranged sequence. SAGE is a tool used for identifying quantitative and detailed data of the gene, whereas RNA sequencing uses high scientific screening to capture all the sequences. Transcriptomics apart from biomedical research is also used in the diagnosis of novel diseases, to identify the start site of transcription, and to recognize the purpose of genes. 

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Market Dynamics

The factors contributing to the market revenue growth are the use of transcriptomics in the identification, classification, and treatment of new diseases, personalized medicine becoming the trend in healthcare businesses, the rise in the application of RNA sequencing, and funding provided by the governments in omics. 

However, as the market players are launching new and innovative products based on this technology, the lack of experienced personnel and the high cost required for this practice can restrict the revenue growth of the global transcriptomics market. 

Market Ecosystem

The global transcriptomics market is analyzed from five perspectives: products, applications, technology, end-user, and region.

Global Transcriptomics Market by Product 

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Based on product, the global transcriptomics market is segmented into reagents, software, and instruments. 

Reagents account for the largest revenue share in the market. Reagents are extensively used in next-generation sequencing to produce high-quality library preparation. Factors owed to the revenue growth of this sector are the increasing need for high-quality media and the increasing interest of pharmaceutical and biotechnology companies in transcriptomics,  and government investments in life sciences projects. 

Global Transcriptomics Market by Technology

Based on technologies, transcriptomics includes Sanger and RNA sequencing, SAGE, microarray, and polymerase chain reaction. 

Sequencing tools help RNA transcription to form complementary DNA sequences. The sequencing segment is expected to register a large revenue growth. This expansion is due to factors such as the greater need for novel drug discoveries, the need to overcome problems related to microarray, and so on. In addition, technological advancements have the potential to significantly expand market revenue in the coming years.

Microarray technology enables a comprehensive understanding of diseases at the genetic level. It will grow significantly in the future because it is an ideal technology for identifying and understanding many genes.

Global Transcriptomics Market by Application

Based on applications, the global transcriptomics market is segmented into drug discovery, clinical diagnostics, and toxicogenomics. 

Among these, the drug discovery segment accounts for the highest revenue share in terms of market. The dominance of this segment is due to the expanding usage of transcriptomics in novel drug discovery, the identification of biomarkers from biological fluids, and the widening use of transcriptomics to investigate many genes to gain a better understanding of gene-drug interactions. This interaction of genes and drugs is critical for understanding the physiology of the drug targeting in the body. 

Furthermore, transcriptomics is widely used in clinical diagnostics. Since RNA sequencing has a large scope in human health, the importance of RNA sequencing in clinical diagnostics has increased over the past few years.

Global Transcriptomics Market by Region

Based on region, the global transcriptomics market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the world (RoW). 

North America is expected to dominate the global transcriptomics market owing to factors such as increased research on drug discovery for many chronic diseases like cancer, high investments from governments in many new life sciences-based studies, and high usage of this technique by many pharmaceutical and biotechnology companies, also the presence of many pharmaceutical and biotechnology companies in this region. 

After North America, Europe is also showing a high market revenue growth owing to the high number of transcriptomics-based R&D activities and burgeoning efforts in personalized medicine. 

Competitive Landscape

The prominent players operating in the global transcriptomics market include:

• Bio-Rad Laboratories Inc.
• Thermo Fisher Scientific Inc.
• Agilent Technologies Inc.
• Illumina Inc.
• Qiagen N.V
• F. Hoffman La Roche Ltd.
• Eurofins Scientific SE
• Fluidigm Corporation 
• Merck KgaA
• Acobiom 
• CD Genomics 

Strategic Developments

• In June 2022, 10X Genomics acquired 5 companies costing the company more than $391 million. 10X Genomics has made investments in a variety of industries, including genomics, life sciences platforms and tools, life sciences technology, and others.
• In 2020, Agilent Technologies announced the Sure Select XT HS2 RNA Reagent Kit.

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