NGS-Based RNA-Sequencing Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
NGS-based RNA-sequencing is used to identify and measure the amount of ribonucleic acid (RNA) present in a biological sample at a certain moment, using next-generation sequencing (NGS). The massively parallel sequencing technology known as “”next-generation sequencing”” (NGS) provides extremely high throughput, scalability, and speed. This approach can ascertain the nucleotide sequence of whole genomes or specific DNA or RNA portions.

Sizing and Forecast
The ngs-based rna-sequencing market size has grown exponentially in recent years. It will grow from <b>$2.79 billion in 2023 to $3.49 billion in 2024 at a compound annual growth rate (CAGR) of 24.9%. </b> The growth in the historic period can be attributed to genomic research initiatives, reduction in sequencing costs, drug discovery and development, personalized medicine, increasing ngs adoption.

The ngs-based rna-sequencing market size is expected to see exponential growth in the next few years. It will grow to <b>$8.39 billion in 2028 at a compound annual growth rate (CAGR) of 24.5%. </b> The growth in the forecast period can be attributed to clinical diagnostics, global collaborations, ethical and regulatory frameworks, agricultural and environmental research, green genomics. Major trends in the forecast period include single-cell rna-sequencing (scrna-seq), spatial transcriptomics, epitranscriptomics, multi-omics integration, sustainable agriculture.

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Segmentation & Regional Insights
The ngs-based rna-sequencing market covered in this report is segmented –

1) By Product And Service: Sample Preparation Products, Sequencing Platforms and Consumables, Sequencing Services, Data Analysis, Storage, and Management
2) By Technology: Sequencing by Synthesis, Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing, Nanopore Sequencing
3) By Application: Expression Profiling Analysis, Small RNA Sequencing, De Novo Transcriptome Assembly, Variant Calling and Transcriptome Epigenetics
4) By End User: Research & Academia, Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Other End Users

<b>North America</b> was the largest region in the NGS-based RNA sequencing market in 2023. <b>Asia-Pacific</b> is expected to be the fastest-growing region in the forecast period. The regions covered in the ngs-based rna-sequencing market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The growth in precision medicine is driving the NGS-based RNA sequencing market. Precision medicine aids doctors in designing individualized treatment plans and making treatment decisions based on a genetic understanding of the patient’s disease. There is a growth in precision medicines for treating severe diseases such as cancer. The NGS-based RNA sequencing helps identify the root cause of disease and prescribe specific precision medicine for treatment. For instance, in September 2021, the Swedish Government invested $21.15 million (SEK 220 million) in the Swedish national infrastructure Genomic Medicine Sweden (GMS), to make it easier to keep integrating precision medicine into Swedish healthcare, ensuring that every person there has to access to more accurate tests and individualized care. Such investments are taking place due to a rise in demand for precision medicines. As the demand for precision medicines increases, the demand for NGS-based RNA sequencing will also increase.

Key Industry Players
Major companies operating in the ngs-based rna-sequencing market include <b> Illumina Inc., Thermo Fisher Scientific Inc., Oxford Nanopore Technologies Ltd., Agilent Technologies Inc., BGI Group, QIAGEN N.V., PerkinElmer Inc., Eurofins Scientific SE, Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd., Hamilton Company, Takara Bio Inc., Tecan Trading AG, GENEWIZ Inc., Novogene Corporation, Macrogen Inc., Zymo Research Corp., Lexogen GmbH, Partek Incorporated, GATC Biotech AG, Becton, Dickinson and Company, Genohub LLC, BaseClear B.V., Genewave SAS, Otogenetics Corporation, SeqLL LLC, GenXPro GmbH, Genotypic Technology Pvt. Ltd. </b>

The ngs-based rna-sequencing market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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