Global Transcriptomics Market Size (2024 - 2029)

Transcriptomics Market Analysis

The transcriptomics market is expected to register a CAGR of 6.5% over the forecast period.

COVID-19 adversely impacted the life science and pharmaceutical industries in the beginning globally. Due to the high transmission rate and lack of treatment for COVID-19, the shutdown of research and academic institutes, supply chain disruptions, and trade restrictions, there has been a decline in the sales of reagents and consumables used for transcriptomics analysis. As per the annual report of 2020 by Nanostring Technologies Inc., the company witnessed a massive decline of 18% in its consumables segment compared to 2019. According to the 2020 results published by 10X Genomics Inc., the company observed a drop of 23.0% compared to 2019. However, the situation eventually improved. For instance, in June 2020, NanoString Technologies Inc. launched new solutions to study the immune response in COVID-19 disease research. The company launched the nCounter Host Response Gene Expression Panel and the COVID-19 Panel Plus spike-in to comprehensively analyze viral infection and immune response. Thus, the COVID-19 pandemic had a positive impact on the studied market.

In addition, the increasing research and development related to diagnostics and drug discovery in transcriptomics, increasing prevalence of chronic diseases such as cancer and neuromuscular disorder, and increase in applications of transcriptomics are actively affecting the growth of the studied market.

The product launches, expansions, collaboration and acquisitions by key market players is expected to drive the market growth significantly. For instance, in February 2020, Caris Life Sciences launched its newest addition to its comprehensive genomic profiling offering, MI Transcriptome, which enables Whole Transcriptome Sequencing (WTS). MI Transcriptome uses the capabilities of high-throughput sequencing to gain insight into the RNA profiles of patients' tumors and builds upon Caris' offering of the most comprehensive tumor profiling approach, which assesses DNA, RNA, and proteins to ensure patients receive the right therapies. Such product launches is likely to work in favor of the market growth.

Furthermore, in February 2020, Dovetail Genomics announced the global availability of its Dovetail HiChIP and Micro-C Kits. The companies are undertaking strategies to expand their customer base across the world which will augment the market growth.

Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, a lack of awareness regarding technology and stringent regulatory policies is likely to impede the market growth.

Transcriptomics Industry Segmentation

As per the scope of the report, transcriptomics is the study of the entire set of RNA transcripts produced by the genome of any organism. The report highlights a detailed analysis of infectious disease diagnostics. The transcriptomics market is segmented by technology (microarray, real-time quantitative polymerase chain reaction (Q-PCR), and sequencing technologies), product (consumables, instruments, and other products), application (diagnostics and disease profiling, drug discovery, and other applications), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.