NGS based RNA Sequencing Market Experiences Significant Growth Driven by Advancements in Precision Medicine

"NGS-Based RNA Sequencing Market Grows Rapidly with Tech Innovations and Rising Precision Medicine Focus in Oncology"

AUSTIN, TX, UNITED STATES, December 16, 2024 /EINPresswire.com/ --

The NGS based RNA Sequencing Market was valued at USD 2.9 Billion in 2023 and is projected to reach USD 12.1 Billion by 2032, growing at a compound annual growth rate (CAGR) of 17.1% from 2024 to 2032.

NGS based RNA Sequencing Market Sees Strong Growth Driven by Precision Medicine and Cancer Research

The NGS based RNA sequencing market is witnessing strong growth, primarily driven by its role in advancing precision medicine, especially in cancer treatment. RNA sequencing provides detailed gene expression profiles, allowing for the detection of rare mutations and alternative splicing. These insights are crucial for identifying genetic alterations that guide personalized therapies tailored to individual patients' cancer profiles.
In addition, innovations like Illumina’s NovaSeq X series, launched in 2023, have enhanced sequencing speed and accuracy, making RNA sequencing more accessible and cost-effective. This technological advancement is expected to boost the application of RNA sequencing in drug discovery, enabling the identification of new biomarkers and therapeutic targets. As the demand for RNA-based therapies, such as mRNA vaccines and gene-silencing treatments, continues to grow, RNA sequencing will play a critical role in developing personalized treatments and advancing drug discovery, further driving market expansion.

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By Product, RNA Sequencing Platforms and Consumables Lead NGS based RNA Sequencing Market

The RNA-sequencing platforms and consumables segment dominated the NGS based RNA sequencing market, capturing approximately 48% of the revenue share in 2023. This dominance can be attributed to the growing demand for high-throughput, cost-effective sequencing solutions that are critical for both clinical and research applications. Technological innovations, such as the introduction of ultra-fast sequencing platforms, have bolstered the accessibility and affordability of RNA sequencing. Additionally, the increasing reliance on RNA sequencing in personalized medicine, particularly in oncology, has significantly contributed to the market's expansion. This trend is expected to continue as the precision medicine sector thrives.

By Technology, Sequencing by Synthesis Dominates NGS-based RNA Sequencing Market in 2023

The Sequencing by Synthesis (SBS) segment led the NGS based RNA sequencing market in 2023, capturing the largest revenue share. This dominance is driven by SBS's ability to deliver high accuracy, speed, and scalability, making it ideal for both large-scale genomic research and clinical applications. The technology's widespread adoption is further fueled by its cost-effectiveness and capacity to generate high-quality data, which are crucial for precision medicine, particularly in oncology and drug discovery. As demand for more personalized therapies grows, SBS remains the preferred method for RNA sequencing.

By End-User, Research and Academia Lead NGS based RNA Sequencing Market with Highest Revenue Share in 2023

The Research and Academia segment dominated the NGS based RNA sequencing market in 2023, securing the largest revenue share. This can be attributed to the increasing demand for high-throughput sequencing technologies in academic research, particularly in genomics, molecular biology, and disease research. The ability of RNA sequencing to provide deep insights into gene expression and molecular mechanisms has made it indispensable for researchers aiming to explore complex biological questions. Additionally, continuous advancements in sequencing technology have further propelled its adoption within the academic sector.

Key Players:
• llumina, Inc.
• Thermo Fisher Scientific
• Pacific Biosciences
• Qiagen N.V.
• Oxford Nanopore Technologies
• Agilent Technologies
• Roche Sequencing Solutions
• PerkinElmer
• BGI Genomics
• Eurofins Genomics

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North America Leads NGS based RNA Sequencing Market with Highest Revenue Share in 2023

In 2023, North America accounted for the largest revenue share of approximately 45% in the NGS based RNA sequencing market. This is due to the region’s strong genomics infrastructure, advanced healthcare systems, and significant government funding. The United States, in particular, benefits from substantial investments, with the National Institutes of Health (NIH) allocating over USD 42 billion to medical research, including RNA sequencing projects targeting complex diseases such as cancer and neurological disorders. This funding further strengthens the market’s growth in the region.

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Key Developments in NGS based RNA Sequencing Market

• In 2024, PacBio enhanced its HiFi RNA sequencing capabilities with upgrades to its Sequel IIe System, offering higher throughput and longer reads for complex biological research, including cancer and gene regulation studies.
• In 2023, Thermo Fisher launched the Ion Chef System, an automated platform that streamlines RNA sequencing library preparation, reducing manual effort and improving workflow consistency.

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