Growing Demand for Transcriptomics Technologies in Drug Discovery to Propel Global Market at 15.9% CAGR 2013-2019
The global transcriptomics technologies market, according to Transparency Market Research, is being driven by the growing demand for personalized medicine, various technological advancements, and the surging investments in research and development activities. A report titled “Transcriptomics Technologies Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019” offers a detailed assessment of the global market and evaluates the various factors governing its growth.
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Transcriptomics refers to the study of messenger RNA molecules in a given organism, enabling the examination of changes occurring across several biological conditions. With the help of various high-throughput methods, transcriptomics technologies allow the response of distinct genes to different treatments. The global market for transcriptomics technologies, according to the TMR report, is anticipated to expand at a strong CAGR of 15.9% from 2013 to 2019, rising from a value of US$1.6 bn to US$4.6 bn therein.
The global transcriptomics technologies market has been examined on the basis of application, technology, and geography.
The major applications of transcriptomics technologies are drug discovery and research, comparative transcriptomics studies, clinical diagnostics, and bioinformatics. The rising prevalence of chronic diseases such as hepatitis B, diabetes, and cancer has resulted in the increased demand for personalized medicine, thereby propelling the application of transcriptomics technologies in the field of drug discovery and research. This application segment has, therefore, emerged as one of the dominant ones in the global transcriptomics technologies market.
The most prominent transcriptomics technologies include polymerase chain reaction (PCR), next-generation sequencing (NGS), microarrays, and gene regulation technologies. NGS has emerged as one of the leading transcriptomics technologies owing to the rising demand for targeted resequencing and whole RNA sequencing. This segment is also fueled by reduced costs, the rise in read lengths facilitated by NGS technology, and quicker sequencing from existing platforms.
Europe, North America, Asia Pacific, and Rest of the World are the four regional segments of the global transcriptomics technologies market. Among these, North America dominates the overall market and in 2012, accounted for a share of more than 35% in terms of revenue. This region is likely to retain its lead through 2019, driven by the increased focus on biotechnological research, the presence of well-equipped medical research laboratories, strong support and funding from the government, and continuous improvisation in healthcare. Europe is also an immensely lucrative market and is anticipated to expand at a healthy pace throughout the forecast period.
Some of the leading companies in the global transcriptomics technologies market are Affymetrix, Inc., Agilent Technologies, Inc., LC Sciences, LLC, Qiagen N.V., Bio-Rad Laboratories, Inc., Life Technologies Corporation, Sigma-Aldrich Corporation, Thermo Fisher Scientific, Danaher Corporation, F. Hoffmann-La Roche Ltd., and Illumina, Inc. These players have been profiled in the transcriptomics technologies market study based on key aspects such as company and financial outlook, product portfolio, recent developments, and business strategies. A SWOT analysis has also been employed to give clients insight into the strengths and weaknesses of their competitors.
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