Transcriptomics Market size was valued at USD 7.04 billion in 2023 and is poised to cross USD 17.59 billion by 2036, expanding at more than 7.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of transcriptomics is estimated at USD 7.45 billion. Transcriptomics or RNA analysis, is the study of RNA transcripts in the genome, under specific circumstances. This method is used to manufacture highly potent personalized drugs and treatment methods, to cure complicated and severe cancers, and genetic diseases. The growth of the market can be attributed to the rising prevalence of rare cancers, including leukemia, lymphoma, and others. According to the data by World Health Organization (WHO), cancer is the second leading cause of death worldwide, accounting for nearly one in six deaths. In total, nearly 10 million deaths were caused due to cancer in 2020. Moreover, the growing incidences of cancer amongst children, is another major factor projected to drive the market growth. As per the WHO report, around 400,000 children from 0-19 years are diagnosed with cancer every year. Furthermore, the adoption of genomics in cancer care amongst the medical practitioners is anticipated to encourage the market growth. Likewise, the increasing investment in the research activities, and advancement in the healthcare sector is estimated to boost the transcriptomics market growth.
Growth Drivers
Challenges
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2023 |
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Forecast Year |
2024–2036 |
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CAGR |
7.3% |
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Base Year Market Size (2023) |
USD 7.04 billion |
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Forecast Year Market Size (2036) |
USD 17.59 billion |
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Regional Scope |
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The market is divided by technology into microarray, real-time PCR, sequencing technology, and others out of which, the real-time PCR segment is anticipated to hold a substantial share in the global transcriptomics market over the forecast period on account of growing use of polymerase chain reaction (PCR) to study the genetic sample.
Based on end-user, the market is segmented into clinical research centers, hospitals, specialty clinics, and others, out of which, the clinical research centers segment is anticipated to gain notable share in terms of revenue during the forecast period, on the back of increasing investment in the medical research and development activities. According to the World Bank data, 2.204% of the global GDP was spent for R&D activities in 2018.
Our in-depth analysis of the global market includes the following segments:
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By Technology |
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By Application |
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By End-User |
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On the basis of geographical analysis, the global transcriptomics market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific industry is likely to hold largest revenue share by 2036, on the back of rising healthcare expenditure across the region.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the rapidly developing biotech and diagnostic industry in the developed countries. For instance, in the U.S. around USD 100 billion were invested in biotech companies, in 2020. Moreover, the growing prevalence of rare cancers in the region is also estimated to boost the transcriptomics market growth. According to the data by the American Cancer Society, in the United States, about 60,650 new cases of leukemia were reported in 2021, with over 24,000 deaths caused from all kind of leukemia.
Author Credits: Radhika Pawar
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