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Global Targeted RNA sequencing Market growing at a CAGR of 8.5% from 2023 to 2030

Category : Pharmaceuticals And Healthcare | Published Date : May 2023

Key Market Overview

Consegic Business Intelligence analyzes that the targeted RNA sequencing market is predicted to grow at a compound annual growth rate of 8.5% from 2023 to 2030 and is expected to reach USD 8,684.17 Million in 2030 which was valued at USD 4,554.59 Million in 2022.

The report highlights the increasing adoption of targeted RNA sequencing for drug discovery, which is proliferating the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the targeted RNA sequencing market.

Global Targeted RNA Sequencing Market By Overview

Global Targeted RNA Sequencing Market

The targeted RNA sequencing market is bifurcated into technology, application, and end user. Based on technology the market is segmented into exome sequencing, enrichment sequencing, and amplicon sequencing, in 2022, the exome sequencing segment dominate the overall targeted RNA Sequencing market. The application segment is categorized into biomedical research, plant & animal sciences, drug discovery, and others. In 2022, the drug discovery segment accounted for the highest market share in the oilfield service market. The end user segment is categorized into academic research, hospitals & clinics, pharma & biotech entities, and others. In 2022, the academic research segment accounted for the highest market share in the targeted RNA Sequencing market.

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Market Dynamics

Driver:

 

  • Increasing the application scope of targeted RNA sequencing in the drug discovery process is accelerating the adoption of targeted RNA sequencing, which, driving the market growth.
  • Rising research & development activities for technological innovations associated with targeted RNA sequencing is augmenting the growth of the market.

 

Restraints:

  • The high cost associated with targeted RNA sequencing

Market Segmentation:

Report Attributes Report Details
By Technology Exome Sequencing, Enrichment Sequencing, and Amplicon Sequencing
By Application Biomedical Research, Plant & Animal Sciences, Drug Discovery, and Others
By End-User Academic Research, Hospitals & Clinics, Pharma & Biotech Entities, and Others
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The market is dominated by certain major companies such as Roche Holdings, Thermo Fisher Scientific, and Illumina, Inc. which have a strong market position in current market circumstances. These companies are continuously leveraging new technologies to develop innovative solutions that are more accurate, ensure superior functioning, and are cost-effective as compared to conventional sequencing. Furthermore, the targeted RNA sequencing market is expected to witness substantial growth in the coming years due to the growing investment in healthcare research and increasing adoption in hospitals.

The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships.

  • Roche Holdings
  • Thermo Fisher Scientific
  • Illumina Inc.
  • Agilent Technologies
  • Oxford Nanopore Technologies
  • DNASTAR Inc.
  • QIAGEN
  • BGI
  • Bio-Rad Laboratories Inc.
  • PierianDx