Transcriptomics Technology Market to be US$ 15.56 Bn by 2027

Transcriptomics refers to the study of structures and functions of transcript molecules. The central dogma process provides information about the flow of genetic material present in a biological system. Analysis of transcriptomes is much more complex than the genome, as a single gene may produce different types of mRNA molecules.

Statistics:

The global transcriptomics technologies market is estimated to account for US$ 15,569.1 Mn in terms of value by the end of 2027.

Global Transcriptomics Technologies Market: Drivers

Increasing R&D investments is expected to propel growth of the global transcriptomics technologies market over the forecast period. For instance, according to The European Federation of Pharmaceutical Industries and Associations’ Key Data 2019, the pharmaceutical sector in Europe invested US$ 19, 509 million in 2000, which increased to US$ 39,895 million (est.) in 2018.

Global Transcriptomics Technologies Market: Opportunities

Increasing prevalence of cardiovascular diseases is expected to offer lucrative growth opportunities for players in the global transcriptomics technologies market. For instance, according to American Heart Association 2019 Heart Disease and Stroke Statistics, cardiovascular disease was responsible for 840,768 deaths (635,260 cardiac) in 2016 in the U.S.

Global Transcriptomics Technologies Market: Restraints

RNA degradation is expected to hinder growth of the market. RNA degradation can severely damage the potential of sequenced data to accurately represent in vivo gene expression as the effects of degradation may not be uniform.

Key Takeaways:

The global transcriptomics technologies market was valued at US$ 4,625.8 Mn in 2019 and is forecast to reach a value of US$ 15,569.1 Mn by 2027 at a CAGR of 16.4% between 2020 and 2027. Increasing prevalence of chronic diseases is expected to drive the market growth during the forecast period.

Drug Discovery & Research segment held dominant position in the global transcriptomics technologies market in 2019, accounting for 34.7% share in terms of value, followed by Bioinformatics, respectively. Increasing research and development for new drug development is expected to assist the market growth.

Market Trends

Major players in the market are focused on adopting various strategies to enhance their market share. For instance, June 2019, Bio-Rad Laboratories, Inc. participated in Jefferies 2019 Global Healthcare Conference, held in New York, U.S.

Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in November 2018, Agilent Technologies Inc. acquired ACEA Biosciences Inc., a developer of cutting-edge cell analysis tools, for US$ 250 million in cash.

Global Transcriptomics Technologies Market: Competitive Landscape

Major players operating in the global transcriptomics technologies market include, Affymetrix, Inc., Agilent Technologies, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Illumina, Inc., F. Hoffmann-La Roche Ltd., Life Technologies Corporation, LC Sciences, LLC, and Qiagen N.V.

Global Transcriptomics Technologies Market: Key Developments

Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in March 2020, Thermo Fisher Scientific Inc. announced to acquire QIAGEN N.V., a provider of molecular diagnostics and sample preparation technologies.

Major players in the market are also focused on approval and launch of new products to expand their product portfolio. For instance, in March 2019, F. Hoffmann-La Roche Ltd. received the U.S. Food and Drug Administration (FDA) approval of the VENTANA PD-L1 (SP142) Assay, as the first companion diagnostic to aid in identifying triple-negative breast cancer (TNBC) patients eligible for treatment with the Roche cancer immunotherapy Tecentriq (atezolizumab) plus chemotherapy.

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