The North America Transcriptomics Market would witness market growth of 6.9% CAGR during the forecast period (2021-2027).
Technological improvements and a surge in research grants from various institutes are two reasons that are expected to propel the transcriptomics market during the forecasting period. Moreover, the potential for RNAs to be used as diagnostic biomarkers and predictors of treatment response is the key industry trend. Previously, transcriptomics applications were limited to basic gene expression profiling and other research applications like determining the amount of RNA in a biological sample and studying gene expression. Other more prominent transcriptome uses are reported only after the simplification of transcriptomics technologies, reduction in technological costs, and increased awareness of transcriptomics technologies among both scientific intelligentsia and the general public.
The rapid development of structure-based medication designs, increased focus on transcriptomics research, and significant investment in biopharmaceutical research and development are the key trends of the regional market. In addition, rising funding in pharmaceutical research and development by the governments of different regional countries would create a conducive environment for the regional market players. North America, particularly the United States, is home to the majority of key players of transcriptomic systems, platforms, equipment, and technologies. Rebus Biosystems, for example, debuted its spatial transcriptomics analysis platform "spatial omics" system in 2021, which is aimed to allow researchers to examine the output of individual cells across tissue samples in more detail.
North American countries have experienced and continue to incur a major economic and healthcare burden as a result of COVID-19's high transmission rate and lack of therapy. The sale of reagents and consumables used in transcriptomics analysis has decreased as a result of the closure of research and academic institutes.
The US market dominated the North America Transcriptomics Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,674 million by 2027. The Canada market is poised to grow at a CAGR of 9.4% during (2021 - 2027). Additionally, The Mexico market would exhibit a CAGR of 8.4% during (2021 - 2027).
Based on Technology, the market is segmented into q PCR, Microarrays, and Sequencing Technology. Based on Application, the market is segmented into Drug Discovery, Diagnostics & Disease Profiling, and Others. Based on Component, the market is segmented into Consumables, Instruments, Software, and Services. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Transcriptomics Market is Estimated to reach $9.4 Billion by 2027, at a CAGR of 7.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Fluidigm Corporation, Promega Corporation, General Electric (GE) Co., Merck & Co., Inc., Thermo Fisher Scientific, Inc., Illumina, Inc., Bio-Rad Laboratories, Inc., Agilent Technologies, Inc., F. Hoffmann-La Roche Ltd., and Qiagen N.V.
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