Next Generation RNA Sequencing (NGS) Market Size (2024 – 2030)

The Global Next Generation RNA Sequencing (NGS) Market was valued at USD 3.4 billion and is projected to reach a market size of USD 10.58 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 17.6%. 

Earlier, RNA sequencing was done manually using traditional laboratory techniques for analyzing diseases for further development of vaccines and medicines. However, it consumed a lot of time, which resulted in errored and delayed results. Further, technological advancements in RNA sequencing produced results that were error-free, required less human intervention, and offered cost-effective sequencing methods such as nanopore sequencing, small RNA sequencing, single-cell RNA sequencing, and others. Moreover, rising demand for precision medicines and treatments further enhanced the market opportunities of many companies dealing in RNA sequencing. Furthermore, the next generation RNA sequencing market is anticipated to witness positive growth in the market on account of continuous technological developments in sequencing techniques with increased incorporation of data analytics tools and high-end software for storing genomic research data.

Key Market Insights:

According to Prolix Research, a clinical research organization in the USA, personalized medicine therapies accounted for 39% of new drugs approved by the United States Food and Drug Administration in the year 2020.

As per WHO, genetic disorders and congenital abnormalities occur in all live births around 2-5%.

Furthermore, according to WHO, 10 out of 1000 people are affected by single-gene diseases.

Next Generation RNA Sequencing (NGS) Market Drivers:

The increasing demand for personalized medicine has boosted the demand for Next Generation RNA Sequencing (NGS) in the market.

The demand for personalized medicine has increased due to patient’s preferring tailormade medical treatments that involve their engagement and provide speedy treatment of the disease. Moreover, Next Generation RNA Sequencing (NGS) has made it easier for researchers, doctors, scientists, and other health and medical professionals to prepare targeted therapies based on the data obtained. In addition, RNA sequencing enables clinicians and doctors in treatment selection of chronic diseases such as cancer, and monitor the disease progress once medical intervention is performed. Furthermore, RNA sequencing helps in the discovery of targeted novel drugs and vaccines for potential disease outbreak in the future.

Technological advancements in sequencing technologies have boosted the demand for Next Generation RNA Sequencing (NGS) in the market.

Technological advancements in the field of gene sequencing have made the process cost-effective, error-free, efficient, and reliable for researchers. Moreover, the increased prevalence of RNA sequencing platforms such as illumine and the incorporation of nanotechnology in RNA sequencing, such as nanopore sequencing has made it easier to study smallest of molecules and determine target disease for biomarkers development. Moreover, improvements in transcription of RNA such as the development of longer and ultra-long read lengths has further improved the sequencing process. Furthermore, trends in data analytics have further developed the market landscape for Next Generation RNA Sequencing (NGS), as bioinformatics tools and real-time sequencing tools enable researchers, clinicians, and scientists to reduce biases and errors during the sequencing process, and efficiently manage the genomic data using cloud-based data management and storage software.

Next Generation RNA Sequencing (NGS) Market Restraints and Challenges:

Cost implications associated with RNA sequencing products could pose hinderance for the growth of Next Generation RNA Sequencing (NGS) Market.

Expensive cost of certain RNA sequencing products such as machines, equipment, technologically- advanced tools and services can decline the demand for Next Generation RNA Sequencing (NGS) in the market.

Data Security issues of genomic data could prove a lot more challenging for businesses.

Data leak or privacy leak can deter the market demand for NGS in the market. Modern RNA sequencing tools and services offers management and storage of genomic data on online platform such as cloud-based software, which is prone to cyber-attacks such as misuse of data, data breach, and others, leading to decline in demand for NGS in the market.

Next Generation RNA Sequencing (NGS) Market Opportunities:

The Next Generation RNA Sequencing (NGS) market is witnessing an upward turn in the market due to increasing demand for targeted treatments, especially for chronic disease such as tumour and cancer. In addition, the emerging gene-tech start-ups in sequencing industry is further opening various opportunities for the growth of the market, as technology-enabled RNA sequencing requires minimal human intervention and reduces errors completely by deploying various RNA sequencing such as RNA isolation and library preparation.

NEXT GENERATION RNA SEQUENCING (NGS) MARKET REPORT COVERAGE:

Next Generation RNA Sequencing (NGS) Market Segmentation: By Technology

• Sequencing by Synthesis

• Ion Semiconductor Sequencing

• Nanopore Sequencing

• Single-Molecule Real-Time Sequencing

In 2022, based on market segmentation by technology, sequencing by synthesis occupied the highest share of about 34% in the market. Sequencing synthesis is the most common method of sequencing RNA which involves the use of nucleotide bases to grow the complementary strand of RNA. Moreover, it helps researchers understand which genes are causing differences in the cells or tissues. Additionally, illumine platforms are majorly used for RNA sequencing, as it helps in simplifying the process of sequencing by integration of whole-transcriptome sequencing workflows. Additionally, it can generate large amounts of data within a short period of time with low error rates. Furthermore, the growth of this segment is attributed to increase in demand from epigentic studies, for transcriptome profiling, and others.

Nanopore sequencing is the fastest-growing during the forecast period. This technology involves passage of RNA molecules from nanopores that enables the study of any fragment of molecule, from short to ultra-long length. In addition, its popularity in the biotechnology field is due to the real-time analysis of molecules and rapid delivery of insights. Furthermore, it enables direct sequencing of RNA molecules, which can help researchers and bio scientists reduce errors during reverse transcription. Further, it is widely used in RNA transcriptome analysis, RNA modification detection, de novo sequencing, and others.

Next Generation RNA Sequencing (NGS) Market Segmentation: By Application

• De Novo Transcriptome Assembly

• Variant calling and Transcriptome Epigenetics

• Small RNA-Sequencing

• Expression Profiling Analysis

In 2022, based on market segmentation by application, de novo sequencing occupied the highest share of about 28% in the market. De novo transcriptome assembly is used to study non-model organisms and when a genome is not available. Moreover, it is widely used by researchers for reading sequence from the same or other experiments for determining differential gene expression and for exploring genetic diversity. Furthermore, the growth of this segment is attributed due to its cost-effectiveness in genome building and the ability to discover new genes in varies studies.

Small RNA-sequencing is the fastest-growing segment during the forecast period. Small RNA-sequencing is method of isolating and sequencing small species of RNA for studying biological processes. Moreover, it also helps in investigating microRNAs that have high sensitivity and resolution. Furthermore, sRNA helps in discovering novel transcripts of sRNA, identifies tissue and cell-specific biomarkers for diagnosis of various diseases such as cancer and others. In addition, it also helps in understanding tissue and organism development base don the transcript data obtained.

Next Generation RNA Sequencing (NGS) Market Segmentation: By Sample Source

• Environmental/Microbial

• Animal

• Plant

• Human

In 2022, based on market segmentation by sample source, human occupied the highest share of about 29% in the market. Studying human sample is critical for medical and clinical search, as it helps to study the response to potential drug interventions, clinical trials, and in identifying target biomarkers for disease diagnosis, such as analyzing potential virus mutations or other infections in the human body. This further helps healthcare professionals in devising personalized medicine and treatment procedures.

The plant segment is the fastest-growing segment during the forecast period. Plant samples consists of samples of soil, crops, leaves, and others for studying the environment, crop growth, and breeding mechanisms of specific plants. Moreover, increased demand for efficient crop growth and faster crop yield has boosted the demand for plant RNA sequencing that enables agricultural scientists and researchers analyze the genetic expression of a particular plant, determine its growth based on the surrounding environment, responsiveness to potential climatic conditions, and others.

Next Generation RNA Sequencing (NGS) Market Segmentation: By Product & Service

• Sample Preparation Products

• RNA-Sequencing Services

• RNA Sequencing Platforms & Consumables

• Data Analysis, Storage, and Management

In 2022, based on market segmentation by product & service, RNA-sequencing products occupied the highest share of about 36% in the market. RNA sequencing services are increasingly demanded by researchers, scientists, and biotechnologists for genomic research purposes. These services are provided by various biopharmaceutical companies, gene sequencing companies, and service providers, which include RNA isolation, library construction services, quality controlling, real-time data analysis services with integration capabilities, customized experimental tools and project management services.

Data analysis, storage, and management is the fastest-growing region during the forecast period. These services are highly-demanded by clinical researchers, doctors, and other healthcare professionals for efficient and quality management of RNA sequencing data, which includes genetic history, gene transformation information, disease diagnosis, and others. Further, data analysis, storage, and management services are increasingly demanded due to growing trends in cloud storage services by researchers and scientists. Moreover, rising number of cyber-attacks has induced hospitals and diagnostic centers to deploy highly-secured and data compliant data management and storage software. In addition, there is an increasing demand for bioinformatics tools and software for genetic data analysis purpose, as it helps to reduce human error and helps in identifying different gene transcripts efficiently.

Next Generation RNA Sequencing (NGS) Market Segmentation: By End-User

• Hospitals & Clinics

• Pharmaceutical & Biotechnology Companies

• Research & Academia

• Others

In 2022, based on market segmentation by end-user, hospitals & clinics occupied the highest share of about 37% in the market. Hospitals & clinics are major users of Next Generation RNA Sequencing (NGS) services for diagnosing and monitoring diseases that further help them device personalized treatment and medicine solutions for patients. Furthermore, it enables doctor and other healthcare professionals analyze the disease spread based on historical genetic data.

Pharmaceutical & biotechnology companies are the fastest-growing segment during the forecast period. Next Generation RNA Sequencing (NGS) enables these companies to prepare targeted drug formulations, perform clinical trials, and analyze patients’ response to potential drug interventions based on genetic data obtained. In addition, Next Generation RNA Sequencing (NGS) helps pharmaceutical & biotechnology companies to develop vaccines and drugs for curbing future virus infections based on the genomic data obtained. Additionally, it also helps bio pharmacists, monitor drug effects and efficiency on gene expressions.

Next Generation RNA Sequencing (NGS) Market Segmentation: Regional Analysis

• North America

• Europe

• Asia-Pacific

• South America

• Middle-East & Africa

In 2022, based on market segmentation by region, North America occupied the highest share of about 40% in the market. Continuous research and development in personalized medicines and treatment procedures, and increasing demand for clinical trials of novel drugs for rare and chronic diseases have contributed to the demand for Next Generation RNA Sequencing (NGS) in the region.

Asia-Pacific will witness faster growth during the forecast period. Increased demand for agricultural research and development for analyzing crop growth and yield, environmental conditions, and soil fertility has contributed to the demand for Next Generation RNA Sequencing (NGS) in the region.

COVID-19 Impact Analysis on the Next Generation RNA Sequencing (NGS) Market

The pandemic had a positive impact on the next generation RNA sequencing market. During the pandemic, there was an increase in demand for RNA sequencing tools for understanding the COVID-19 virus structure, its mutation, and potential health impact on patients. Moreover, these tools enabled researchers to develop vaccines and medicines for targeting virus infection. In addition, social distancing measures raised the demand for online RNA sequencing tools and software that provided data storage and management services to the healthcare professionals. Moreover, it enabled pharmaceutical institutes develop targeted drugs based on the gene sample, patient’s immunity response to potential drug intervention, and others.

Latest Developments:

• In June 2021, Tempus launched a standalone RN next-generation sequencing assay – Tempus xR. The product is a whole transcriptome panel meant for solid tumours and offers clinical fusions and altered splicing for more than 100 targeted genes. Moreover, the product is suitable for researchers, biopharma companies, and others that are seeking RNA sequencing analysis of existing samples.
• In May 2021, Bio-Rad launched next-generation RNA sequencing kit – SEQuoia RiboDepletion Kit. The product offers improved assay efficiency that eliminates irrelevant ribosomal RNA fragments from RNA sequencing library. Moreover, it is specifically designed for genomic researchers that target rare transcripts of a degraded sample.

Key Players:

1. Genewiz

2. Illumina

3. Biocompare

4. Integrated DNA Technologies

5. Nucleome Informatics

6. Qiagen

7. Thermo Fisher Scientific

8. CD Genomics

9. BGI Genomics

10. Novogene

11. Eurofins Genomics