Transcriptomics is the study of transcript molecules that include all types of RNA such as messenger RNA, transfer RNA, non-coding RNA, and ribosomal RNA. The study of the transcriptome enables the researchers to examine gene expression and functioning patterns of each gene. The increase in incidences of genetic mutations occurring in carcinogens and genetic variations further propel growth prospects for the transcriptomics market. Transcriptomics has a wide range of applications in clinical diagnostics, drug discovery, comparative transcriptomics, and toxicogenomics.
COVID-19 Impact analysis
COVID-19 is an infectious disease that originated in Hubei province of the Wuhan city in China in late December. The highly contagious disease, caused by a virus, severe acute respiratory syndrome corona virus 2 (SARS-CoV-2), is transmitted from human to human. Since the outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as Hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industry is expected to witness a significant growth in the future owing to the demand for vaccine and treatment drugs for COVID-19. This in turn is expected to have a significant impact on the transcriptomics technologies market.
Top Impacting Factors
- Rise in demand for gene expression patterns of specific genes, multiplexed RNA quantification, and other assay technologies, increase in need for personalized medicine and genetic testing, surge in incidences of genetic mutations occurring in carcinogens and genetic variations, constant technological advancements in products, a higher degree of commercialization, progressing cases of diseases such as cancer, hepatitis B, and diabetes, are the factors that drive the growth of the transcriptomics technologies market.
- In addition, widespread application of these technologies in examining gene expression, the introduction of robust and effective methodologies, rising government and private funding for research, the improved automation of various transcriptome analysis methods, R&D investments by biotechnology and pharmaceutical companies, a rise in demand for more reliable and compact products, are some factors, which boost the market growth for transcriptomics technologies.
- However, the high maintenance cost of sequencing platforms and the rise in need for highly effective methodologies is the challenge faced by the transcriptomics technologies market.
Transcriptomics Technologies Market Trends
New product launches to flourish the market
Key market players are now concentrating on the approval and launching of novel products to expand their product range.
In June 2018, Agilent Technologies Inc. received the U.S. Food and Drug Administration (FDA) for its Dako PD-L1 IHC 22C3 pharmDx assay that is used in determining PD-L1 expression in cervical cancer.
In May 2019, Siemens Healthineers launched the new Atellica CH Enzymatic Hemoglobin A1C Assay to diagnose and monitor diabetes.
In December 2019, PathogenDx, Inc. was awarded two U.S. Patents for Tandem PCR & Microarray Hybridization technology.
In March 2020, IDbyDNA Inc. collaborated with Illumina, Inc., for the R&D of next-generation sequencing-based workflows. The expansion of the product portfolio was the main objective behind this partnership.
In April 2020, Bio-Rad Laboratories, Inc. acquired Celsee, Inc., a developer of instruments and consumables for the identification, isolation, and study of single cells.
Key Benefits of the Report
- This study presents the analytical depiction of the transcriptomics technologies industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the transcriptomics technologies market share.
- The current market is quantitatively analyzed to highlight the transcriptomics technologies market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the transcriptomics technologies market.
- The report provides a detailed transcriptomics technologies market analysis based on competitive intensity and how the competition will take shape in coming years
Questions answered in the transcriptomics technologies market Report
- Which are the leading players active in the transcriptomics technologies market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the transcriptomics technologies market?
- What future projections would help in taking further strategic steps?
- What is "Transcriptomics technologies"?
- What is "Transcriptomics technologies" Market prediction in the future?
- Who are the leading global players in the "Transcriptomics technologies" Market?
- What are the current trends and predicted trends?
- What are the key benefits of the "Transcriptomics technologies" Market report?
Transcriptomics Technologies Market Report Highlights
By Product Type
By End User
Key Market Players
Agilent Technologies, Thermo Fisher Scientific, F Hoffmann La Roche Ltd., Life Technologies Corporation, Danaher Corp, LC Sciences, Qiagen N.V., GenXPro GmbH, CD Genomics, Bio-Rad Laboratories, Inc., Affymetrix Inc., Sequentia Biotech SL., Merck KGaA, Illumina, Inc.