Market Trends of NGS-Based RNA-Sequencing Industry
This section covers the major market trends shaping the NGS-Based RNA-Sequencing Market according to our research experts:
Sequencing Platform and Consumables Segment is Expected to Hold the Significant Market Share in the NGS-Based RNA-Sequencing Market Over the Forecast Period
The RNA sequencing platform and consumables segment is expected to witness significant growth in the NGS-based RNA sequencing market over the forecast period owing to factors such as the growing technological advancements in the field of next-generation sequencing techniques and the continuous R&D efforts of biotechnological companies for manufacturing cost-effective and innovative RNA sequencing platforms for disease research.
Platforms and supplies for RNA sequencing make it possible to measure the expression of the transcriptome by finding gene fusions, transcript isoforms, and single nucleotide variants.Some of these platforms are Illumina HiSeq, SOLiD systems, Ion Torrent, PacBio IsoSeq, and Oxford Nanopore Technologies (ONT) Nanopore sequencing, among others.These platforms have revolutionized the study of the transcriptome by providing researchers with the perceptibility to acknowledge the changes in the diseased state of an individual that previously went undetected.
The growing number of product launches is also contributing to market growth. For instance, in January 2022, Singular Genomics Systems, Inc. partnered with Lexogen to demonstrate the G4 sequencing platform's compatibility with Lexogen's products for RNA research, specifically the QuantSeq, Corall, and Luthor library preparation kits. Also, in December 2021, Singular Genomics Systems, Inc. launched the G4 NGS-based sequencing platform. The NGS platform combines cutting-edge technology with revolutionary high-performance chemistry to give accuracy, flexibility, speed, and power for a variety of applications, including oncology and immunology research.
Therefore, owing to factors such as rising product launches and the availability of a variety of platforms, the studied segment is expected to grow over the forecast period.
North America is Expected to Have the Significant Market Share Over the Forecast Period
Over the next few years, the NGS-based RNA-sequencing market is expected to grow significantly in North America. Major biotechnological research companies like Illumina, Inc., Thermo Fischer Scientific, Inc., Agilent Technologies, Inc., PerkinElmer, Inc., and GeneWise, Inc. are located in the region. This, along with the early adoption of NGS technology, is expected to drive market growth in the region.The market is also growing because of the growing demand for next-generation sequencing services and applications in drug development, clinical procedures, and precision medicine, as well as the use of the most recent technology for next-generation sequencing.
According to an article published in JTO Clinical and Research Reports in February 2022, Canadian researchers found that the ultra-focused RNA-next-generation sequencing assay is a good way to find clinically significant hotspot mutations and fusions in NSCLC at the same time by focusing on actionable gene targets with a single unified procedure.Thus, with the aid of next-generation sequencing, several molecular modifications can be recognized, each of which presents unique analytical difficulties. This is anticipated to fuel the adoption of RNA-based NGS sequencing to study mutations in various diseases, hence boosting market growth.
Also, the growing company's focus on adopting different business strategies like collaboration, agreements, partnerships, and others, as well as putting out more products in the region, are likely to drive market growth over the next few years.For instance, in March 2022, the University of Mississippi Medical Center set up a clinical next-generation sequencing (NGS) machine that allows physicians to assess the DNA sample from cancer patients faster and more cost-efficiently. Also, in July 2021, Switch Health started working with Anven Biosciences, a leader in next-generation therapeutics and diagnostics for personalized medicine.Under the agreement, Anven and Switch Health will work together to create a new class of artificial antibodies that can be used as molecular diagnostics to find both symptomatic and asymptomatic SARS-CoV-2 infections. This will help Canadian patients get faster, more convenient, and easier access to health care.In the same way, Bio-Rad Laboratories, Inc. released the SEQuoia RiboDepletion Kit for NGS in May 2021. This kit removes unnecessary ribosomal RNA from the RNA-sequencing library and makes the assay more effective.
Because of things like the growing use of NGS-based RNA sequencing in cancer and the increasing number of new products and company activities, the studied market is expected to grow over the next few years.
