NGS-Based RNA-Sequencing Market | Revenue Growth at a CAGR of 20.0%
Posted by D Dsouza on January 15th, 2020
The NGS-based RNA-sequencing market size is estimated to grow from USD 1.7 billion in 2019 to USD 4.2 billion by 2024, at a CAGR of 20.0%. Market growth is driven mainly by the advantages of RNA-seq over conventional technologies; an increasing number of RNA-seq grants; rising number of research activities involving RNA-seq; and rapid growth in precision medicine market.
North America accounted for the largest share of the NGS-based RNA-sequencing market. This can primarily be attributed to the government support through funds for genomics research, advancements in RNA-Seq products, growing prevalence of target diseases, growing research on cancer and inherited rare diseases, and the strong presence of key players such as Illumina (US), Thermo Fisher (US), and Agilent Technologies (US).
Illumina (US), Thermo Fischer Scientific (US) and Oxford Nanopore (UK), Agilent Technologies, Inc. (US), BGI (China), PerkinElmer Inc. (US), QIAGEN (Germany), Eurofins Scientific (Luxembourg), F. Hoffmann-La Roche Ltd (Switzerland), Takara Bio Inc. (Japan), GENEWIZ, Inc. (US), Hamilton Company (US), Macrogen (South Korea), Zymo Research (US), and Tecan Genomics, Inc. (Switzerland) among others are the major players operating in the NGS-based RNA-sequencing market.
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NGS-based RNA-sequencing market, by Technology:
1. Sequencing by Synthesis
2. Ion Semiconductor Sequencing
3. Single-molecule Real-time Sequencing
4. Nanopore Sequencing
The sequencing by synthesis segment accounted for the largest share of this NGS-based RNA-sequencing market in 2018. The dominant market position of this segment is attributed mainly to the development of new and advanced NGS platforms and the increasing demand for Illumina’s systems, as it is the major provider of NGS platforms that use the SBS technology (including the HiSeq and MiSeq series, NextSeq, and HiSeq X Ten).
NGS-based RNA-sequencing market, by Products and Services:
1. Sample Preparation Products
2. Sequencing Platforms & Consumables
3. Sequencing Services
4. Data Analysis, Storage, & Management
RNA sequencing platforms & consumables segment accounted for the largest share of the NGS based RNA sequencing market. This can be attributed to continuous technological advancements witnessed in the market and the increasing availability of innovative & cost-effective sequencing platforms.
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Recent Market Development in NGS-based RNA-sequencing market:
1. In May 2019, BGI (China) and GenomiQa (Australia) signed a services agreement for whole-genome sequencing on BGI’s DNBseqTM sequencing technology platform. Under this agreement, genomiQa will utilize BGI’s ISO15189 accredited laboratory sequencing facilities.
2. In November 2018, Illumina (US) acquired Pacific Biosciences (US), one of the leading provider of sequencing systems. This helped Illumina strengthen its sequencing product portfolio.
3. In June 2017, Agilent Technologies (US) and Agendia (US) entered into an agreement to expand their relationship to include the development of Agendia’s RNA-Seq kit version into Agilent’s current product portfolio.
