According to a new report, published by KBV research, The Global Transcriptomics Market size is expected to reach $9.4 billion by 2027, rising at a market growth of 7.6% CAGR during the forecast period.
The Sequencing Technology segment is showcasing a CAGR of 8.1% during (2021 - 2027). This is because RNA sequencing provides direct access to mRNA sequences and is a cost-effective approach, making it more viable for target identification and drug discovery. In addition, RNA sequencing also aids in the resolution of various microarray difficulties, including bias and variance caused by hybridization and labeling efficiency.
The Drug Discovery segment acquired maximum revenue share in the Global Transcriptomics Market by Application in 2020; thereby, achieving a market value of $5.2 billion by 2027. This is due to an increase in the number of product approvals and rising demand for drug discovery. The application of transcriptomics in drug discovery for target identification and validation, identification of efficacy and toxicity biomarkers from bodily fluids, and analysis of therapeutic action and toxicity processes is attributed to the growth of the segment. In addition, the increasing requirement to examine a large number of genes in order to get a better knowledge of gene-drug interactions is likely to boost the adoption of transcriptomic technology in drug discovery applications.
The Instruments market has shown high growth rate of 7.9% during (2021 - 2027). The high share of the segment is due to the increase in the number of genetic tests and a rise in the number of major players involved in the development of transcriptomics. Moreover, many industry players are focused on introducing cost-effective instruments for RNA analysis for better disease exploration.
North America is the fastest growing region in the Global Transcriptomics Market by Region in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3.7 billion by 2027. The Europe market is estimated to witness a CAGR of 7.1% during (2021 - 2027). Additionally, The Asia Pacific market would exhibit a CAGR of 8.3% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/transcriptomics-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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