Transparency Market Research states that the competitive landscape in the global transcriptomics technologies market is highly consolidated as only a few key players hold a lion’s share in the overall market. The leading players operating in the global market are Thermofisher Scientific, Affymetrix, Inc., Agilent Technologies, Inc., Illumina Inc., Life Technologies Corporation, and F-Hoffmann La Roche Ltd. “The market faces tough competition from new entrants due to growing number strategic collaborations and a huge scope for technological upgradation,” observes the lead author of this research report.
Regional Market of North America Emerges as Significant Contributor to Global Market
According to the research report, the opportunity in the global transcriptomics technologies market is expected to be worth US$4.6 bn by the end of 2019. During the forecast years of 2013 and 2019, the global market is expected to expand at a CAGR of 15.90%. The research report indicates that the next generation sequencing segment will surge at a CAGR of 19.1% during the forecast period. In terms of geography, North America is projected to lead the global market as the opportunity in this global market reaches US$1.8 bn by the end of 2019. North America transcriptomics technologies market is expected to be receive a significant boost from the sophisticated healthcare infrastructure and well-equipped research laboratories. Asia Pacific is also anticipated to be an emerging regional market as economies of China and India find a firm footing in the global economy.
Options of Accurate Multi-target Drug Discovery Opens New Growth Avenues
The market is anticipated to receive a magnificent impetus from growing number of applications of transcriptomics technologies along with the remarkable advancements in the analysis technologies that are complementing these applications. The recent advancements have allowed transcriptomics technologies to reduce the pressure of work and results in genomic research as they provide a multi-target drug discovery option, which eliminates the risk of a failure associated with the hypothesis. The introduction of automation in sequencing platforms and PCR methodologies are expected to augur well for the growth of the global transcriptomics technologies market.
The development of next generation sequencing platforms, RNA analysis tools, and services have opened up a wide range of business opportunities for transcriptomics research. Demand for precision medicine and its rapid commercialization has been observed as an emerging trend in the global market. Analysts predict the upcoming evolution of transcriptomics research will ensure result-oriented progress in drug discovery, which will bring down the cost of new drugs. The increasing demand for diagnosis and treatment of diseases such as HIV, Alzheimer’s disease, and assistance in areas of oncology are also projected to lend a notable impetus to the global market.
The growing investments in research and development by pharmaceutical companies and other companies inclined towards uplifting the healthcare infrastructure has also resulted in the rise of this market. The emerging economies and steady growth of developing nations such as Brazil, India, Japan, and China have also played a crucial part in encouraging the growth of the global market.
Lack of Data Analysis Tools becomes Colossal Challenge for Global Market
The growing concerns about the complexity of data and post analysis of transcripts via sequencing platforms are anticipated to hamper the growth of the global market. Analysts have anticipated that efficient management of complex data is likely to be a significant limitation in transcriptome research. Thus, lack of effective tools to handle data and lack of expertise are expected to restrict the growth of the global market in the coming years.
This review is based on Transparency Market Research’s report, titled “Transcriptomics Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019.”
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