Transcriptomics Market Size

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.