RNA Analysis Market: Growth, Size, Share, and Trends

Market Growth Outlook Summary

The global RNA analysis market, valued at US$4.8 billion in 2022, is forecasted to grow at a robust CAGR of 13.4%, reaching US$5.3 billion in 2023 and an impressive US$9.9 billion by 2028. Various elements such as increasing R&D activities, increasing government funding for drug discovery research, and growing pharmaceutical & biological industries are the major growth factors for this market. Many peptide-based research projects are also being fostered by increasing collaborative partnerships among various companies that are driving market growth.

Attractive Opportunities in the RNA analysis Market

To know about the assumptions considered for the study, Request for Free Sample Report

RNA Analysis Market Dynamics

DRIVER: Growing demand for personalized medicine

With the growing prominence of personalized medicine, there is an increased demand for rapid, highly sensitive, and quantitative methods to analyze proteins and related post-translational modifications in clinical specimens. In addition, as gene variants predict a patient’s likely response to a certain medication, researchers are increasingly focusing on identifying and studying various proteins, modifications, genetic variants, and their relevance to different diseases. Advances in omics technologies have made important contributions to the development of personalized medicine by facilitating the detection of protein biomarkers, proteomics-based molecular diagnostics, as well as pharmacoproteomics.

RESTRAINT: High capital investments

Advancements in various instruments have led to higher prices than previous-generation instruments due to their expensive development process. For instance, in 2022, an Illumina HiSeq X Ten sequencing instrument cost USD 1 million. In 2021, the cost of the same instrument was USD 750,000. Companies rely on accessible structural data and trial-and-error methods to determine the compounds that either stimulate or disable targets. All processes need a large number of laboratory hours, thus increasing the per-sample testing cost. Such high prices of instruments and reagents make it difficult for developing countries to venture into the field of transcriptomics. The high costs involved have led to the lower-than-expected adoption of transcriptomic technologies across the globe.

OPPORTUNITY: Opportunities in Emerging Countries

The focus on omics research has increased in developing countries like China, Brazil, Australia, and India. In these countries, proteomics research is mainly focused on mapping the human proteome and determining the mechanism of action of drugs. The establishment of the Proteomics Society, India (PSI) has provided proteomic scientists and researchers in the country with significant opportunities to form research collaborations and conduct workshops on proteomics. Similarly, increasing competition in mature markets also compels manufacturers to focus on emerging markets to ensure stable revenue growth in the coming years. Thus, although transcriptomics research is concentrated in the US and other developed countries across Europe, over the last decade, developing countries across the world have emerged as growth avenues for life sciences, including transcriptomics research.

CHALLENGE: Data management in transcriptomics research

Transcriptomics is a rapidly expanding field, aided by instrumentation accuracy and sensitivity, size, and affordability improvements. This offers many possibilities for personalized and precision medicine, which could improve diagnosis, treatment, and disease management in the coming years. However, with the increase in transcriptome and subsequent genomic analysis, there is an inevitable increase in the volume of data generated. These are just a few of the complexities involved in the data management of transcriptomics. Also, the lack of competent databases for data storage, comparing transcriptomic data, and the in-depth analysis of experimental results are further inhibiting the growth of this market.

RNA Analysis Market Ecosystem

The Reagents/Consumables segment dominated RNA analysis industry in 2022

Based on product & service, the RNA analysis market is segmented into reagent/consumables, instruments, software, and services. In 2022, the reagents/consumables segment accounted for the largest share of the market. The large share of this segment can be attributed to the growth of RNA analysis reagents is fueled by the increase in demand of genome based studies, technological advancements; and the availability of various RNA analysis reagents in the market.

North America dominated the RNA analysis industry in 2022.

To know about the assumptions considered for the study, download the pdf brochure

Geographically, the RNA analysis market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2022, North America accounted for the largest share of the market, followed by Europe and the Asia Pacific. The large share of the North American market is owing to various factors such presence of a large number of pharmaceutical companies and the growing demand for personalized medicines. Increased funding for protein-based research is furthermore driving market growth in North America.

Key players in the RNA analysis market are Thermo Fisher Scientific, Inc. (US), F. Hoffmann-La Roche Ltd. (Switzerland), Bio-Rad Laboratories, Inc. (US), Illumina, Inc. (US), Eurofins Scientific (Luxembourg)

Scope of the RNA Analysis Industry

This report categorizes the RNA analysis market to forecast revenue and analyze trends in each of the following submarkets:

By Product & Service

• Reagents/Consumables
• Instrument
• Software
• Services

By Technology

• Polymerase Chain Reaction (PCR)
• Microarrays
• Sequencing
• RNA Interference

By Application

• Drug Discovery
• Clinical Diagnostics
• Toxicogenomics
• Comparative Transcriptomics

By End User

• Pharmaceutical & Biotechnology Company
• Hospitals & Diagnostic Centers
• Academic & Research Institutes
• CROs

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Switzerland
  • Rest of Europe (RoE)
• Asia Pacific (APAC)
  • China
  • Japan
  • India
  • Rest of Asia Pacific (RoAPAC)
• Latin America (LATAM)
• Middle East and Africa (MEA)

Recent Developments by RNA Analysis Industry

• In October 2022, Agilent Technologies and CMP Scientific Corp. entered into a co-marketing agreement to provide an integrated capillary electrophoresis-mass spectrometry (CE-MS) solution for the life science and pharmaceutical industries.
• In March 2022, Eurofins acquired Beacon Discovery, a drug discovery-based CRO. Beacon supported the fully integrated drug discovery programs from target validation to pre-clinical candidates.
• In January 2021, Thermo Fisher acquired Phitonex to provide greater flow cytometry and imaging multiplexing capabilities for protein and cell analysis research needs. Phitonex’s product offerings are also an expansion of the company’s existing protein and cell analysis portfolio.

Frequently Asked Questions (FAQ):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst