Home Press Releases Next Generation RNA Sequencing (NGS) Market is projected to reach the value of $10.58 billion by 2030

Next Generation RNA Sequencing (NGS) Market is projected to reach the value of $10.58 billion by 2030

by Press Room

(EMAILWIRE.COM, March 27, 2024 ) According to the latest analysis by Virtue Market Research, the Next Generation RNA Sequencing (NGS) Market is valued at $3.4 billion in 2023 and is projected to reach a market size of $ 10.58 billion by 2030. Over the forecast period of 2024-2030, market is projected to grow at a CAGR of 17.6%.

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The Next Generation RNA Sequencing (NGS) market has witnessed significant growth over the years, driven by various factors. One long-term market driver that has shaped the industry is the increasing demand for personalized medicine and precision healthcare. NGS technology allows for comprehensive analysis of the transcriptome, enabling researchers and clinicians to identify disease biomarkers, understand disease mechanisms, and develop targeted therapies. The COVID-19 pandemic further accelerated the adoption of NGS technology, particularly in the field of infectious disease research and diagnostics. NGS has played a crucial role in the rapid sequencing and analysis of the SARS-CoV-2 virus, aiding in the development of vaccines and therapeutics.

In the short term, one of the key market drivers for NGS is the growing applications of this technology in oncology research and diagnostics. NGS enables comprehensive profiling of cancer genomes, facilitating the identification of genetic mutations associated with cancer development and progression. This information is invaluable for personalized cancer treatment strategies, such as targeted therapies and immunotherapies. Additionally, the increasing adoption of NGS in non-invasive prenatal testing (NIPT) is driving market growth. NGS-based NIPT offers higher sensitivity and specificity compared to traditional screening methods, reducing the need for invasive procedures and providing expectant parents with more accurate information about their baby’s health.

An opportunity in the NGS market lies in the expansion of applications beyond research and diagnostics into clinical settings. As NGS technology becomes more cost-effective and accessible, there is a growing trend towards its integration into routine clinical practice. This includes applications in areas such as infectious disease diagnostics, pharmacogenomics, and rare disease diagnostics. The trend towards clinical adoption of NGS is driven by advancements in bioinformatics, data analysis, and regulatory frameworks, which are making NGS-based tests more reliable, interpretable, and actionable for healthcare providers.

A trend observed in the NGS industry is the increasing demand for automation and integration solutions. As the volume of sequencing data continues to grow, there is a need for automated workflows and integrated analysis platforms to streamline data processing, analysis, and interpretation. Companies in the NGS market are focusing on developing automated sample preparation systems, sequencing instruments, and data analysis software to meet the growing demand for high-throughput, efficient, and cost-effective NGS solutions. This trend towards automation and integration is expected to drive market growth and facilitate the widespread adoption of NGS technology across various applications and settings.

In conclusion, the Next Generation RNA Sequencing (NGS) market is driven by long-term trends such as the demand for personalized medicine and precision healthcare, as well as short-term drivers like the applications in oncology research and diagnostics. With opportunities in clinical adoption and trends towards automation and integration, the future outlook for the NGS market remains promising. As the technology continues to evolve and become more accessible, NGS is expected to play an increasingly important role in advancing our understanding of disease biology, improving patient outcomes, and driving innovation in healthcare.

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Segmentation Analysis:
The Next Generation RNA Sequencing (NGS) Market segmentation includes:
By Technology:
• Sequencing by Synthesis
• Ion Semiconductor Sequencing
• Nanopore Sequencing
• Single-Molecule Real-Time Sequencing
Next Generation RNA Sequencing (NGS) technology has revolutionized the field of genomics, enabling researchers to study RNA molecules with unprecedented speed and accuracy. This technology encompasses various sequencing methods, including Sequencing by Synthesis, Ion Semiconductor Sequencing, Nanopore Sequencing, and Single-Molecule Real-Time Sequencing. Among these, Sequencing by Synthesis emerges as the largest segment, dominating the market with its widespread adoption and established infrastructure. Sequencing by Synthesis utilizes fluorescently labeled nucleotides to sequence RNA molecules, allowing for high-throughput analysis and precise identification of gene expression patterns.

Meanwhile, Nanopore Sequencing stands out as the fastest-growing segment during the forecast period. Nanopore Sequencing technology utilizes nanopores embedded in a membrane to analyze RNA molecules in real-time. This innovative approach offers several advantages, including rapid sequencing, long-read capabilities, and the ability to directly detect RNA modifications. The growing demand for rapid and cost-effective sequencing solutions, coupled with advancements in nanopore technology, is driving the adoption of Nanopore Sequencing in research laboratories and clinical settings.

By Application:
• De Novo Transcriptome Assembly
• Variant calling and Transcriptome Epigenetics
• Small RNA-Sequencing
• Expression Profiling Analysis
The Next Generation RNA Sequencing (NGS) market offers a range of applications that cater to various research and diagnostic needs. These applications include De Novo Transcriptome Assembly, Variant calling and Transcriptome Epigenetics, Small RNA-Sequencing, and Expression Profiling Analysis. Among these, De Novo Transcriptome Assembly emerges as the largest segment, playing a vital role in deciphering the transcriptome of organisms without a reference genome. This application enables researchers to explore the entire set of RNA transcripts in a sample, facilitating the discovery of novel genes, alternative splicing events, and gene expression patterns.

Meanwhile, Small RNA-Sequencing stands out as the fastest-growing segment during the forecast period. Small RNA-Sequencing technology allows for the high-throughput sequencing of small RNA molecules, including microRNAs, siRNAs, and piRNAs. These small RNAs play crucial roles in gene regulation, development, and disease, making them valuable targets for research and diagnostics. The growing interest in understanding the role of small RNAs in health and disease drives the adoption of Small RNA-Sequencing in diverse fields such as oncology, neurobiology, and infectious diseases.

By Sample Source:
• Environmental/Microbial
• Animal
• Plant
• Human
In the Next Generation RNA Sequencing (NGS) market, the choice of sample source plays a crucial role in determining the scope and application of sequencing experiments. Sample sources include Environmental/Microbial samples, Animal samples, Plant samples, and Human samples. Among these, Human samples emerge as the largest segment, reflecting the extensive use of NGS technology in human genetics and medical research. Human RNA sequencing enables the study of gene expression patterns, alternative splicing events, and RNA modifications in various tissues and cell types, providing valuable insights into human health and disease.

On the other hand, the Plant segment stands out as the fastest-growing segment during the forecast period. Plant RNA sequencing offers numerous applications in agricultural research, plant breeding, and biotechnology. By sequencing plant RNA, researchers can identify genes involved in stress responses, crop yield, and nutrient uptake, facilitating the development of resilient and high-yielding crop varieties. The increasing demand for sustainable agriculture practices and the need to address food security challenges drive the adoption of Plant RNA sequencing technologies in research laboratories and agricultural biotechnology companies.

By Product & Service:
• Sample Preparation Products
• RNA-Sequencing Services
• RNA Sequencing Platforms & Consumables
• Data Analysis
• Storage
• Management
In the Next Generation RNA Sequencing (NGS) market, products and services play a vital role in enabling researchers to conduct RNA sequencing experiments efficiently and accurately. The market is segmented by Product & Service into Sample Preparation Products, RNA-Sequencing Services, RNA Sequencing Platforms & Consumables, and Data Analysis, Storage, and Management. Among these, RNA-Sequencing Services emerge as the largest segment, reflecting the demand for outsourced sequencing services by researchers and laboratories. RNA-Sequencing Services provide comprehensive solutions for RNA sequencing experiments, including sample processing, library preparation, sequencing, and data analysis, catering to the diverse needs of the research community.

Meanwhile, the Data Analysis, Storage, and Management segment stand out as the fastest-growing segment during the forecast period. As NGS generates vast amounts of sequencing data, efficient data analysis, storage, and management solutions are essential for researchers to extract meaningful insights from their experiments. The growing complexity and volume of NGS data require advanced bioinformatics tools, cloud computing infrastructure, and data management systems to process, analyze, and store sequencing data securely and efficiently. The increasing demand for scalable and cost-effective data analysis solutions drives the growth of this segment in the NGS market.

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By End-User:
• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Research & Academia
• Others
In the Next Generation RNA Sequencing (NGS) market, end-users play a crucial role in driving demand for sequencing products and services. The market is segmented by End-User into Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Research & Academia, and Others. Among these, Hospitals & Clinics emerge as the largest segment, reflecting the increasing adoption of NGS technology in clinical diagnostics and patient care settings. Hospitals and clinics utilize NGS for diagnosing genetic disorders, cancer profiling, infectious disease surveillance, and prenatal screening, among other applications, enabling healthcare providers to offer personalized treatment strategies and improve patient outcomes.

Meanwhile, Pharmaceutical & Biotechnology Companies stand out as the fastest-growing segment during the forecast period. Pharmaceutical and biotechnology companies leverage NGS technology for drug discovery, development, and biomarker identification, facilitating precision medicine approaches and targeted therapies. NGS enables researchers to analyze gene expression patterns, identify therapeutic targets, and characterize drug responses, accelerating the drug discovery pipeline and enhancing the efficiency of clinical trials. The increasing adoption of NGS by pharmaceutical and biotechnology companies drives the growth of this segment in the NGS market.

Regional Analysis:
In the realm of Next Generation RNA Sequencing (NGS), regional analysis plays a pivotal role in understanding market dynamics and trends across different geographical areas. The NGS market is analyzed regionally, with key regions including North America, Asia-Pacific, Europe, South America, and the Middle East and Africa. Among these, North America emerges as the largest segment, showcasing significant adoption of NGS technology in various research, clinical, and pharmaceutical applications. The region benefits from robust infrastructure, a well-established healthcare system, and strong research institutions, driving the demand for NGS products and services.

Conversely, Asia-Pacific stands out as the fastest-growing region during the forecast period, reflecting the increasing investment in healthcare infrastructure, rising research funding, and growing awareness of genomic medicine in countries across the region. With a large population base and increasing healthcare expenditures, Asia-Pacific offers lucrative opportunities for NGS market players to expand their presence and tap into emerging markets. The growing emphasis on precision medicine, personalized healthcare, and genomics research fuels the adoption of NGS technology in Asia-Pacific, driving market growth in the region.

Latest Industry Developments:
• Strategic Partnerships: Companies in the Next Generation RNA Sequencing (NGS) market are increasingly forming strategic partnerships and collaborations with technology providers, research institutions, and healthcare organizations. These partnerships enable companies to access complementary technologies, expand their product portfolios, and gain access to new markets. Collaborations also facilitate knowledge exchange, joint research projects, and co-development efforts, allowing companies to stay at the forefront of technological advancements and meet the evolving needs of customers.

• Focus on Innovation: In response to the rapidly evolving landscape of NGS technology, companies are investing heavily in research and development to drive innovation. By developing novel sequencing platforms, reagents, and bioinformatics solutions, companies aim to differentiate themselves in the market and offer enhanced capabilities to customers. Recent developments in NGS technology include improvements in sequencing accuracy, throughput, and cost-effectiveness, as well as the introduction of new applications such as single-cell sequencing and long-read sequencing. By staying ahead of technological advancements, companies can maintain a competitive edge and capture market share in the rapidly growing NGS market.

• Expansion into Emerging Markets: With the increasing adoption of NGS technology worldwide, companies are expanding their presence in emerging markets such as Asia-Pacific, Latin America, and the Middle East and Africa. These regions offer significant growth opportunities due to factors such as rising healthcare expenditure, increasing research funding, and growing awareness of personalized medicine. Companies are establishing local subsidiaries, distribution networks, and manufacturing facilities to better serve customers in these regions and capitalize on the growing demand for NGS products and services. Additionally, companies are investing in market education and outreach initiatives to raise awareness about the benefits of NGS technology and drive adoption in emerging markets.

About Us:
Virtue Market Research is a strategic management firm helping companies to tackle most of their strategic issues and make informed decisions for their future growth. We offer syndicated reports and consulting services. Our reports are designed to provide insights on the constant flux in the global demand-supply gap of markets.

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