According to AMRโs prediction, the global transcriptomics market was accounted for $5.79 billion in 2020, and is expected to reach $11.39 billion by 2030, growing at a CAGR of 7.0% from 2021 to 2030. Transcriptomics is the study of transcriptome, a complete set of RNA, which is known as expression profiling.
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Key Findings of the Study –
- By type, the consumables segment was the highest contributor to the market in 2020.
- By technology, the q PCR segment was the highest contributor to the market in 2020.
- On the basis of application type, the drug discovery segment dominated the market in 2020, and is expected to continue this trend during the forecast period.
Factors driving the growth of the transcriptomics market include technological advancements and increased research funding by various institutions. Furthermore, the ability of RNA to act as surrogate markers for drug discovery and drug response predictors is expected to fuel the demand for transcriptomics worldwide. together. At first, the application of transcriptomics was limited to the identification of genes and other research tools such as studying the amount of RNA and monitoring genes.
However, it is only after the development of transcriptomics technology, the reduction of technical costs and the increase of transcriptomics technology among scientists and population that other important applications of transcriptomics are reported.
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By region, the global transcriptomics market in North America dominates in 2020, accounting for more than two-fifths of the market, due to the strong infrastructure provided for research projects and the presence of key players in the North America. However, the Asia-Pacific market is expected to exhibit the highest CAGR of 8.7% during the forecast period, due to the increasing use of transcriptomics for drug discovery, R&D activities for the launch of new products and increasing investment in the healthcare sector.
Key Market Players –
Major key players that operate in the industry are Agilent Technologies Inc., F-Hoffmann La-Roche, Bio-Rad Laboratories, General Electric Company, Fluidigm Corporation, Merck & Co. Inc., Illuminia Inc., QiagenInc, Promega Corporation, and ThermoFisherScientific.
By Region –
North America (U.S., Canada, Mexico)
Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
LAMEA (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
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Frequently Asked Questions?
Q1. What is the total market value of global transcriptomics market?
Q2. Which market holds the maximum market share of the global transcriptomics market?
Q3. What will be global transcriptomics market growth in 2030?
Q4. What are the key trends in the global transcriptomics market?
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