NGS-Based RNA-Sequencing Market Growing at a CAGR of 20%

(IT-NEWSWIRE.COM, May 20, 2020 ) NGS-based RNA-sequencing Market growth is driven mainly by the advantages of RNA-seq over conventional technologies; an increasing number of RNA-seq grants; rising number of research activities involving RNA-seq; and rapid growth in precision medicine market.

The NGS-based RNA-sequencing market size is estimated to grow from USD 1.7 billion in 2019 to USD 4.2 billion by 2024, at a CAGR of 20.0%.

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Sequencing by synthesis segment accounted for the largest share of the NGS-based RNA-sequencing market, by technology, in 2018

Based on technology, the NGS-based RNA-sequencing market is segmented into sequencing by synthesis, ion semiconductor sequencing, single molecular real-time sequencing, and nanopore sequencing. Of all these, the sequencing by synthesis segment accounted for the largest share of this market in 2018. The dominant market position of this segment is attributed mainly to the development of new and advanced NGS platforms and the increasing demand for Illumina’s systems, as it is the major provider of NGS platforms that use the SBS technology (including the HiSeq and MiSeq series, NextSeq, and HiSeq X Ten).

RNA sequencing platforms & consumables segment accounted for the largest share of the NGS-based RNA-sequencing market, by product & service, in 2018

Based on products & service, the market is segmented into sample preparation, RNA sequencing platforms & consumables, RNA sequencing services, and data analysis, storage & management. In 2018, the RNA sequencing platforms & consumables segment accounted for the largest share of the NGS based RNA sequencing market. This can be attributed to continuous technological advancements witnessed in the market and the increasing availability of innovative & cost-effective sequencing platforms.

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Geographical Growth Analysis:

Based on the region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2018, North America accounted for the largest share of the NGS-based RNA-sequencing market. This can primarily be attributed to the government support through funds for genomics research, advancements in RNA-Seq products, growing prevalence of target diseases, growing research on cancer and inherited rare diseases, and the strong presence of key players such as Illumina (US), Thermo Fisher (US), and Agilent Technologies (US).

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NGS-Based RNA-Sequencing Market Growing at a CAGR of 20%