A transcriptome denotes the genetic code that is transliterated into the RNA molecules of an organism. Transcriptomics includes the assortment and exploration of transcriptomes. These transcriptomes may be from diverse types of tissues, or cells or tissues present in an organism’s body. A transcriptome primarily describes the set of all RNA molecules, which are a significant part of the organism’s genetic code. Transcriptomics has varied applications, especially in molecular genetics. This is likely to amplify the global transcriptomics demand during the forecast period.
The transcriptomics industry has benefitted from huge investments for research and development. Technological advancements in the field are leading to new technologies such as RNAi technology and NGS technology. These advanced technologies will enable researchers to study the transcriptional activity of diverse organisms with higher accuracy and precision. This in turn will lead to enhanced data analysis methodologies that would be able to handle enormous quantities of transcriptomics data and deliver precise outcomes.
The growing commonness of cardiovascular or CVD and Central Nervous System or CNS disorders and life threatening diseases such as cancer has propelled the rapid growth of the global market for transcriptomics at a significant pace. Growing demand for disease-tailored drugs and transcriptomics technologies coupled with constant developments in healthcare infrastructure is boosting the overall market.
The major restraint for the market is the cost of the service. Due to high input cost and lack of trained professionals, the selling price of the service is quite high which in turn prohibits end users from opting for it. However, with time and newer and cheaper technology, the cost is likely to come down and therefore encourage consumers to use transcriptomics. Transcriptomic technologies are extensively used for drug innovation and biotechnology research. Moreover, with cardiac diseases along with other factors such as pollution leading to other ailments, the global transcriptomics market is anticipated to show steady growth during the forecast period.
The global transcriptomics market can be segmented on the basis of technology, product type, end user, and by regions. By technology, the market can be segregated into Drug Discovery, Clinical Diagnostics, and Toxicogenomics. By product type, the global transcriptomics market can be divided into transcriptomics instruments and transcriptomics consumables. In 2015, the transcriptomics consumables subdivision led the market and accounted for more than half of the global market share. The growth of this sector is largely for the reason that assays, reagents, and enzymes are procured frequently for conducting different tests. Most consumers purchase reagents in bulk, which in turn provides revenue to the vendors. On the basis of end user, the market can be trifurcated into hospitals and diagnostic centers, academic research and government institutes, and pharmaceutical and biotechnology companies.
In terms of geography, the global transcriptomics market is segmented into North America, Europe, Asia Pacific, Latin America, and Africa and Middle East.
North America held the maximum share of the overall transcriptomics market. This domination is primarily attributed to the existence and development of major biotechnology as well as pharmaceutical companies in this region, particularly in the U.S. Nevertheless, Asia Pacific is poised to experience significant CAGR growth over the forecast period. Countries such as China, Japan, and India are likely to be the largest contributors to the development of the market in this region. Government support, economic growth, coupled with increasing number of pharmaceutical and biotechnology companies in this region will fuel growth in this region.
The major players operating in the global transcriptomics market are Thermo Fisher Scientific, Agilent Technologies, Roche Diagnostics, GE Healthcare, Becton, Illumina, Beckman Coulter, Dickinson and Company, bioMérieux, Biological Industries, Harvard Bioscience, Cepheid, Bio-Rad Laboratories, Clontech Laboratories, Edico Genome, Cytognomix, Siemens Healthcare, Oxford Gene Technology, and Maxim Biotech, among others.
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