The global Targeted DNA/RNA Sequencing Market experienced robust growth in 2020 and is expected to continue registering steady revenue growth over the forecast period. The popularity and adoption of targeted RNA sequencing in research institutes, hospitals and clinics, biotechnology companies, and diagnostic labs are key drivers of market growth. Targeted RNA sequencing is a precise method for identifying and sequencing individual RNA transcripts, providing both quantitative and qualitative data. The exome sequencing segment is expected to reach the highest revenue share over the forecast period, while the research institutes segment is expected to lead in terms of application type.
Advancements in sequencing technology, increasing acceptance of NGS technology, and partnerships and collaborations among major companies are key factors driving revenue growth. However, the sudden emergence of the COVID-19 pandemic, the scarcity of experienced personnel, issues with storing sequencing data, and the high cost of installation and maintenance of machines are factors that are expected to hinder market growth. Despite this, the identification of known and unknown fusion gene pairs and government initiatives in population sequencing in emerging economies such as China and India are expected to open up new business opportunities for major players and new entrants in the market.
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The Targeted DNA/RNA Sequencing Market is being driven by several factors, including:
· Growing demand for personalized medicine: Targeted RNA sequencing provides a precise and accurate approach to personalized medicine, enabling the detection of disease-associated genetic variations and biomarkers. As the demand for personalized medicine increases, the market for targeted RNA sequencing is expected to grow.
· Increasing prevalence of genetic diseases: The prevalence of genetic diseases is increasing globally, which is driving the demand for targeted RNA sequencing. Targeted RNA sequencing can help in the diagnosis of genetic diseases and provide insights into their molecular mechanisms.
· Advancements in next-generation sequencing (NGS) technologies: Next-generation sequencing technologies have revolutionized the field of genomics and have led to the development of targeted RNA sequencing. Advancements in NGS technologies, such as improvements in sequencing accuracy and throughput, have enabled the development of more precise and efficient RNA sequencing methods.
· Growing focus on cancer research: Cancer research is one of the major areas where targeted RNA sequencing is being used. The growing focus on cancer research and the need for better diagnostic and treatment options are driving the growth of the Targeted DNA/RNA Sequencing Market.
· Increasing investment in genomics research: Governments and private organizations are investing heavily in genomics research, which is driving the development of new and innovative RNA sequencing technologies. This is expected to further boost the growth of the Targeted DNA/RNA Sequencing Market.
Detailed Segmentation In Our Report:
For the purpose of this report, the global Targeted DNA/RNA Sequencing Market is segmented on the basis of technology, application type, and region:
Technology Outlook (Revenue, USD Billion; 2018-2028)
- Exome Sequencing
- Enrichment Sequencing
- Amplicon Sequencing
Application Outlook (Revenue, USD Billion; 2018-2028)
- Research Institutes
- Hospitals and Clinics
- Biotechnology Company
- Diagnostic Lab
Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Rest of Middle East & Africa
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