NGS-based RNA-Sequencing Market Poised for Explosive Growth at 21% CAGR | Driven by Precision Medicine and Technological Advancements

Market Overview

NGS-based RNA-sequencing Market Research Report Information By Product and Service (Sample Preparation Products, Sequencing Platforms and Consumables, Sequencing Services and Data Analysis, Storage and Management), By Technology (Sequencing by Synthesis (SBS), Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing (SMRT), Nanopore Sequencing), By Application (Expression Profiling Analysis, Small RNA Sequencing, De Novo Transcriptome Assembly, Variant Calling and Transcriptome Epigenetics), By End-User (Research and Academia, Hospitals and Clinics, Pharmaceutical and Biotechnology Companies), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032.

NGS-based RNA-sequencing Market Size was valued at USD 2.7 Billion in 2023. The NGS-based RNA-sequencing Market industry is projected to grow from USD 3.2 Billion in 2024 to USD 12.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 21.00% during the forecast period (2024 – 2032).

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Market Dynamics

The increasing use of next-generation sequencing (NGS) technologies is the main factor driving the growth of the NGS-based RNA-sequencing market. Advances in these technologies and the development of a human genome database have allowed companies to offer fast diagnostic services and identify mutations and disorders in human genes by analyzing the entire genome.

Compared to traditional Sanger sequencing, NGS significantly reduces costs and improves detection power and sensitivity by sequencing millions of DNA fragments simultaneously. These techniques offer high processing speed and throughput, generating a large number of sequences for research and diagnostics. Ongoing research is expected to enhance these methods and support market growth.

The expanding field of precision medicine is also boosting the NGS-based RNA sequencing market. Precision medicine allows doctors to create personalized treatment plans based on a patient’s genetic information, making it popular for treating diseases like cancer.

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Segmental Analysis

The global NGS-based RNA-sequencing market is segmented by Product and Service, Technology, Application, and End-use.

Product and Service 

This segment includes Sample Preparation Products, Sequencing Platforms and Consumables, Sequencing Services, and Data Analysis, Storage, and Management. Sequencing platforms and consumables are expected to dominate due to their essential role in the sequencing process, directly affecting the efficiency, accuracy, and throughput.

Technology 

The market is categorized into Sequencing by Synthesis (SBS), Ion Semiconductor Sequencing, Single-molecule Real-time Sequencing (SMRT), and Nanopore Sequencing. Sequencing by Synthesis (SBS) is anticipated to hold the largest revenue share due to its extensive use in academic research and clinical diagnostics, offering high throughput, precision, and cost-effectiveness.

Application 

Applications include Expression Profiling Analysis, Small RNA Sequencing, De Novo Transcriptome Assembly, Variant Calling, and Transcriptome Epigenetics. Expression Profiling Analysis is projected to grow the most, as it is crucial for understanding gene function, regulation, and the genetic basis of diseases.

End-use 

The market is divided into Research and Academia, Hospitals and Clinics, and Pharmaceutical and Biotechnology Companies. Research and Academia will likely hold a significant market share due to their role as primary income sources, encompassing research institutes, universities, government entities, biotechnology organizations, and pharmaceutical firms.

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Regional Analysis

North America 

Includes the US and Canada. North America is expected to lead the market due to its strong research infrastructure, significant public and private investment, and a supportive environment for the adoption of NGS-based RNA-sequencing technologies.

Europe 

Comprises Germany, France, the UK, Italy, Spain, and the rest of Europe. Europe is anticipated to see rapid revenue growth, driven by numerous academic and research institutions and increasing demand for personalized therapy. A robust legislative framework supports genomics research, boosting market revenue.

Asia-Pacific 

Includes China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. Asia-Pacific is expected to grow the fastest, supported by a rapidly developing healthcare sector, rising investments, and government initiatives. The increasing relevance of precision medicine, aimed at providing patient-specific treatments, is also fueling growth.

Rest of the World 

Covers the Middle East, Africa, and Latin America. These regions are seeing a rise in genetic defects and cancer prevalence, driving the need for advanced diagnostic tools. NGS-based RNA-sequencing offers detailed genetic insights, aiding in early identification and personalized treatment plans.

Competitive Dynamics

MRFR recognizes the following companies as the key players in the global NGS-based RNA-sequencing Market— Illumina (the U.S.), Thermo Fischer Scientific (the U.S.), Oxford Nanopore Agilent Technologies, Inc. (the U.S.) 149, BGI (China), PerkinElmer Inc. (the U.S.), QIAGEN (Germany), Eurofins Scientific (Luxembourg), Hoffmann-La Roche Ltd (Switzerland), Takara Bio Inc. (Japan), Tecan Genomics, Inc. (Switzerland).

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