Next Generation RNA Sequencing (NGS) Market Research Report Segmented By Technology (Sequencing by Synthesis, Ion Semiconductor Sequencing, Nanopore Sequencing, and Single-Molecule Real-Time Sequencing), By Application (De Novo Transcriptome Assembly, Variant calling and Transcriptome Epigenetics, Small RNA-Sequencing, and Expression Profiling Analysis) By Sample Source (Environmental/Microbial, Animal, Plant, and Human), By Product & Service (Sample Preparation Products, RNA-Sequencing Services, RNA Sequencing Platforms & Consumables, Data Analysis, Storage, and Management), By End-User (Hospitals & Clinics, Pharmaceutical & Biotechnology Companies, Research & Academia, and Others); and Region- Size, Share, Growth Analysis | Forecast (2024 2030)

Market Size and Overview:

The Next Generation RNA Sequencing (NGS) Market was valued at USD 3.39 Billion and is projected to reach a market size of USD 10.57 billion by the end of 2030. Over the forecast period of 2024-2030, the market is projected to grow at a CAGR of 17.6%.

Market Overview:

Previously, manual approaches were the norm for RNA sequencing, utilizing conventional lab methods to analyze diseases and facilitate the development of vaccines and medications. However, this method was time-consuming and often yielded flawed, delayed outcomes. Advancements in RNA sequencing technology subsequently produced more accurate results, necessitated less human involvement, and introduced cost-effective sequencing alternatives like nanopore sequencing, small RNA sequencing, and single-cell RNA sequencing. The escalating demand for precise medical solutions further expanded market prospects for companies specializing in RNA sequencing. The next generation RNA sequencing market anticipates positive growth due to ongoing technological advancements in sequencing techniques, including increased integration of data analytics tools and sophisticated software for genomic research data storage.

Key Market Insights:

Prolix Research, a clinical research organization in the USA, reported that personalized medicine therapies comprised 39% of new drugs approved by the United States Food and Drug Administration.

According to the World Health Organization (WHO), genetic disorders and congenital abnormalities affect around 2-5% of all live births.

Additionally, WHO states that single-gene diseases impact 10 out of 1000 individuals.

Next Generation RNA Sequencing (NGS) Market Drivers:

The burgeoning demand for personalized medicine has significantly boosted the market for Next Generation RNA Sequencing (NGS).

Patients increasingly prefer tailored medical treatments that involve their active engagement and enable swift disease management. Next Generation RNA Sequencing (NGS) facilitates researchers, physicians, scientists, and healthcare professionals in devising targeted therapies based on obtained data. Moreover, RNA sequencing assists clinicians in selecting treatments for chronic diseases such as cancer and monitoring disease progression post-intervention. Furthermore, it aids in discovering targeted drugs and vaccines for potential future disease outbreaks.

Technological advancements in sequencing technologies have propelled the demand for Next Generation RNA Sequencing (NGS).

Advancements in gene sequencing technology have made the process cost-effective, error-free, efficient, and reliable for researchers. The prevalence of RNA sequencing platforms like illumine and the integration of nanotechnology, such as nanopore sequencing, have enabled the study of minute molecules and identification of target diseases for biomarker development. Moreover, enhancements in RNA transcription, like longer and ultra-long read lengths, have further refined the sequencing process. Trends in data analytics have bolstered the Next Generation RNA Sequencing (NGS) market by reducing biases and errors during sequencing and facilitating efficient genomic data management through cloud-based storage software.

Next Generation RNA Sequencing (NGS) Market Restraints and Challenges:

Cost implications associated with RNA sequencing products may impede the growth of the Next Generation RNA Sequencing (NGS) Market.

The high costs of certain RNA sequencing products, including machinery, equipment, technologically advanced tools, and services, could dampen the demand for Next Generation RNA Sequencing (NGS) in the market.

Data Security issues of genomic data could pose significant challenges for businesses.

Concerns about data or privacy breaches can deter the market demand for NGS. Modern RNA sequencing tools and services that store genomic data online, such as cloud-based software, are susceptible to cyber-attacks, leading to potential misuse or breaches, thereby diminishing the demand for NGS in the market.

Next Generation RNA Sequencing (NGS) Market Opportunities:

The Next Generation RNA Sequencing (NGS) market is on an upward trajectory due to the growing demand for targeted treatments, especially for chronic diseases like tumors and cancer. Moreover, the emergence of gene-tech startups in the sequencing industry is creating various growth opportunities. Technology-enabled RNA sequencing, requiring minimal human intervention and reducing errors in processes such as RNA isolation and library preparation, is contributing to the market's expansion.

Next Generation RNA Sequencing (NGS) Market Segmentation:

Next Generation RNA Sequencing (NGS) Market Segmentation: By Technology

• Sequencing by Synthesis 
• Ion Semiconductor Sequencing 
• Nanopore Sequencing 
• Single-Molecule Real-Time Sequencing

In terms of technology segmentation, Sequencing by Synthesis claimed the largest market share, approximately 34%. This method, widely utilized for RNA sequencing, involves the utilization of nucleotide bases to foster the complementary RNA strand. It plays a crucial role in discerning genes responsible for cellular or tissue differences. Illumina platforms predominantly support RNA sequencing, streamlining the process by integrating whole-transcriptome sequencing workflows. This technology generates substantial data volumes swiftly, with minimal error rates. The segment's growth is primarily driven by augmented demand in epigenetic studies, transcriptome profiling, among other applications.

Nanopore sequencing emerges as the fastest-growing technology during the forecast period. This technology entails RNA molecule passage through nanopores, enabling the examination of diverse molecule fragments, ranging from short to ultra-long lengths. Its prominence in biotechnology stems from real-time molecule analysis and prompt insights delivery. Additionally, it allows direct RNA molecule sequencing, aiding researchers and bioscientists in minimizing errors during reverse transcription. Nanopore sequencing finds extensive use in RNA transcriptome analysis, RNA modification detection, de novo sequencing, and related applications.

Next Generation RNA Sequencing (NGS) Market Segmentation: By Application

• De Novo Transcriptome Assembly 
• Variant calling and Transcriptome Epigenetics 
• Small RNA-Sequencing 
• Expression Profiling Analysis

Concerning application segmentation, de novo sequencing captured the largest share, approximately 28%, in the market. De novo transcriptome assembly serves in studying non-model organisms or instances where a genome isn't accessible. Widely adopted by researchers, it aids in reading sequences from similar or distinct experiments, determining differential gene expression, and exploring genetic diversity. The segment's growth attributes to its cost-effectiveness in genome building and its capacity to unveil new genes across various studies.

Small RNA-sequencing marks the fastest-growing segment during the forecast period. This method isolates and sequences small RNA species, elucidating biological processes. It facilitates the investigation of highly sensitive and resolution-rich microRNAs. Furthermore, small RNA sequencing contributes to discovering novel sRNA transcripts, identifying tissue or cell-specific disease biomarkers (e.g., cancer), and comprehending tissue or organism development based on acquired transcript data.

Next Generation RNA Sequencing (NGS) Market Segmentation: By Sample Source

• Environmental/Microbial
• Animal 
• Plant 
• Human

Based on sample source segmentation, human samples held the largest market share, approximately 29%. Analyzing human samples remains crucial in medical and clinical research, aiding in understanding responses to potential drug interventions, clinical trials, and identifying disease biomarkers. This analysis assists healthcare professionals in devising personalized medicine and treatment approaches. The plant segment emerges as the fastest-growing during the forecast period. Plant samples, encompassing soil, crops, leaves, etc., are instrumental in environmental study, crop growth analysis, and understanding specific plant breeding mechanisms. Rising demand for efficient crop growth and faster yields fuels the need for plant RNA sequencing. It allows agricultural scientists to analyze genetic expressions, assess growth concerning environmental factors, and predict responsiveness to climatic conditions.

Next Generation RNA Sequencing (NGS) Market Segmentation: By Product & Service:

• Sample Preparation Products
• RNA-Sequencing Services
• RNA Sequencing Platforms & Consumable
• Data Analysis, Storage, and Management

Considering product & service segmentation, RNA-sequencing products dominated the market share at approximately 36%. RNA sequencing services witness escalating demand from researchers, scientists, and biotechnologists for genomic research. These services, rendered by various biopharmaceutical companies and service providers, encompass RNA isolation, library construction, quality control, real-time data analysis, and customized experimental tools. Data analysis, storage, and management exemplify the fastest-growing region. These services are crucial for efficient RNA sequencing data management, including genetic history, disease diagnosis, and gene transformation information. Rising demand for cloud storage services and the necessity for secure, compliant data management software in healthcare facilities spur this growth. Moreover, the escalating need for bioinformatics tools in genetic data analysis aids in reducing human error and enhancing gene transcript identification.

Next Generation RNA Sequencing (NGS) Market Segmentation: By End-User

• Hospitals & Clinics
• Pharmaceutical & Biotechnology Companies
• Research & Academia
• Others

With end-user segmentation, hospitals & clinics led with the highest market share, approximately 37%. They extensively utilize Next Generation RNA Sequencing (NGS) services for disease diagnosis, monitoring, and devising personalized treatments based on historical genetic data analysis. Pharmaceutical & biotechnology companies emerge as the fastest-growing segment during the forecast period. Next Generation RNA Sequencing (NGS) aids these companies in formulating targeted drugs, conducting clinical trials, and assessing patient responses to potential drug interventions based on genetic data. Moreover, it facilitates vaccine and drug development for future virus infections, monitoring drug effects on gene expressions, and enhancing bio pharmaceutical analysis.

Next Generation RNA Sequencing (NGS) Market Segmentation: Regional Analysis

• North America
• Europe
• Asia-Pacific
• South America
• Middle-East & Africa

Concerning regional segmentation, North America dominated with approximately 40% market share. Ongoing research in personalized medicine, escalating clinical trials for rare diseases, and the pursuit of novel drugs contribute to the region's significant demand for Next Generation RNA Sequencing (NGS). Asia-Pacific is poised for rapid growth during the forecast period. Increased demand for agricultural research, analyzing crop growth, environmental conditions, and soil fertility drives the adoption of Next Generation RNA Sequencing (NGS) in the region.

COVID-19 Impact Analysis on the Next Generation RNA Sequencing (NGS) Market:

The pandemic positively influenced the Next Generation RNA Sequencing market. It sparked a surge in demand for RNA sequencing tools to comprehend COVID-19 virus structure, mutations, and their health implications. These tools facilitated vaccine and medicine development. Social distancing measures elevated the need for online RNA sequencing tools and software, providing data storage and management services for healthcare professionals. Pharmaceutical institutes leveraged gene samples to tailor drugs, considering patient immunity responses to potential interventions.

Latest Trends/Developments:

One of the latest trends in the Next Generation RNA Sequencing (NGS) market involves the integration of artificial intelligence (AI) and machine learning (ML) algorithms. These advanced technologies are being increasingly utilized to enhance the efficiency and accuracy of RNA sequencing data analysis. AI and ML algorithms assist in deciphering complex RNA sequences, identifying patterns, and predicting RNA structures more effectively. This integration allows for faster analysis, reduced error rates, and the ability to handle large volumes of sequencing data, thereby significantly improving the overall RNA sequencing process.

A notable advancement in the NGS market is the emergence of portable or handheld RNA sequencing devices. These devices represent a significant shift in the field, enabling on-site and real-time RNA sequencing in various settings such as field research, point-of-care diagnostics, and resource-limited environments. Portable RNA sequencing devices offer convenience, rapid results, and the ability to perform analyses outside traditional laboratory settings. This innovation holds great promise in diverse applications, including rapid disease diagnostics, environmental monitoring, and agricultural research, transforming how RNA sequencing is conducted and applied across different industries and scenarios.

Key Players:

• Genewiz

• Illumina

• Biocompare

• Integrated DNA Technologies

• Nucleome Informatics

• Qiagen

• Thermo Fisher Scientific

• CD Genomics

• BGI Genomics

• Novogene