Transcriptomics is the study of transcriptome, which is a set of RNAs transcribed in the cells. Also know as RNA analysis, this study helps developing an organism specific database that helps in cell analysis. Technological advancements and tremendous growth in the research and development activities are expected to be some of the major reasons for the rapid growth in the transcriptomics market on global scale. Rising demand is expected to create potential growth opportunities for the established players in this industry. Innovative applications of is study is expected to provide traction for the RNA analysis market. The growth of the market also signifies rising investments from the potential players for the industry.
Scope of Research – Market Segmentation
The global transcriptomics market is segmented on the basis of the types of technologies, which include PCR, microarray, RNAi gene silencing and sequencing. The market is further divided on the basis of the types of applications, which include toxicogenomics, drug discovery and clinical diagnostics. Major end-user segments in the market include hospitals, diagnostic centers, government institutes, academic research institutes and biotechnology and pharmaceutical companies. Based on geographic regions, the global market is segmented into Asia Pacific, North America, Europe and the rest of the world. The rest of the world region includes analysis of Latin America, Africa and Middle East.
Transcriptomics Technologies Market Drivers
The global transcriptomics market is expected to be driven by four major driving factors. These factors include technological advancements, growth in applications of RNA sequencing, growth in government as well as private funding, and rise in personalized medicine. Rising research and development projects are also expected to help the market witness steady growth during the next few years. The global market is also expected to witness growth opportunities from emerging economies and untapped markets like Asia Pacific and Middle East and growth in opportunities in the fields like biomarkers discoveries. Lack of effective tools is expected to be the key challenge for the market.
Forecasting – What to Expect?
As per the latest reports, the transcriptomics market is poised to witness a steady growth from 2014 to 2019. It is poised to grow at a projected compound annual growth rate (CAGR) of over 13% during this time frame. At the estimated growth rate, researchers anticipate the market to become worth $3,773.0 million by the end of the year 2019. North America is projected to hold dominance over the global market in terms of shares. However, emerging markets are poised to witness the most impressive growth as far as the CAGR is concerned.