Market Trends of Global Transcriptomics Industry
This section covers the major market trends shaping the Transcriptomics Market according to our research experts:
Diagnostics and Disease Profiling is Expected to Witness Growth Over The Forecast Period
Transcriptomics has a variety of applications in diagnostics and disease analysis. In recent years, transcriptomics has shifted from strictly research applications to diagnostics and disease applications. Transcriptome analyses have been extensively used to understand the heterogeneity of tumors. Massively parallel single-cell RNA sequence analysis has emerged as a powerful method to understand the heterogeneity and to study cancer's rare cell populations through unsupervised sampling and modeling of transcriptional states in single cells.
The global spread of COVID-19 has bolstered the demand for a more comprehensive molecular understanding of the disease's pathophysiology. According to a research article titled "High-Density Blood Transcriptomics Reveals Precision Immune Signatures of SARS-CoV-2 Infection in Hospitalized Individuals" published in Frontiers in Immunology Journal in July 2021, the study had an average of 97.02% of sequences with perfect matching barcodes and a mean quality score of 35.59 ± 0.07, indicated that the sequencing was performed to a high level with low error. The average number of bases sequenced for each patient in the present study was 45 billion, which is an increase of more than 10 billion from the previous studies. Thus, the rising use of transcriptomics in the field of COVID-19 is likely to have a profound impact on the segment's growth.
Transcriptomics is the major tool for accelerating disease diagnostics processes. With the rapidly increasing global burden of chronic diseases such as cancer and diabetes, there is a need for advanced technologies for diseases and diagnostics. For instance, according to GLOBOCAN 2020 report, there were around 19.2 million new cases, and 9.9 cancer deaths were reported worldwide the world. This rapidly increasing patient pool is likely to positively influence the segment's growth.
Various market players operating in the transcriptomics market are constantly focusing on developing and introducing novel instruments and techniques in the arena of diseases and diagnostics. For instance, in August 2021 HTG Molecular Diagnostics, Inc. (HTG), announced the commercial launch of its HTG Transcriptome Panel in the United States and Europe. This panel uses the HTG EdgeSeq technology to measure almost 20,000 mRNA targets. The white paper published by the company indicated that the HTG Transcriptome Panel is repeatable and can be used to diagnose many cancers. Such advancements and launches are expected to bolster the segment's growth.
Hence, owing to the aforementioned factors, the segment is expected to attain good growth over the forecast period.
North America is Expected to Dominate the Transcriptomics Market Over The Forecast Period
North America is expected to dominate the market owing to factors such as the introduction of favorable government initiatives, increasing healthcare expenditure, the strong presence of industry players in the region, better healthcare infrastructure, awareness among people and healthcare industry stakeholders about available technologies, and the high concentration of market players in the United States.
The technological advancements, product approvals, launches, partnerships, and acquisitions by the key market players are projected to add growth to the market in the country. For instance, in January 2022, Illumina Inc. and Nashville Biosciences LLC, a subsidiary of Vanderbilt University Medical Center (VUMC), entered a multi-year agreement to accelerate drug development through large-scale genomics and the establishment of a clinical-genomic resource using Illumina's next-generation sequencing platforms. Such partnerships are expected to drive the growth of the transcriptomics market in the region.
Also, in March 2021, Rebus Biosystems launched its spatial transcriptomics analysis platform 'spatial omics' system, which is designed to give researchers a closer look at the output of individual cells across tissue samples. Such product launches will positively influence the market in the upcoming period. Additionally, in February 2021, Parse Biosciences launched Single Cell Whole Transcriptome Kit. The kit, previously available only through Parse's early access program, is now generally available to all researchers in North America. Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North America Region.
