Transparency Market Research, a global market intelligence consultancy, has published a market study on the global transcriptomics technologies market for the 2013-2019 period. According to this report, the global transcriptomics technologies market will rise at a CAGR of 15.90% from 2013 to 2019 to reach a valuation of US$4.6 bn by the end of the forecast period. The market’s valuation in 2012 was US$1.65 bn. The report is titled “Transcriptomics Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”.
The report says that the global transcriptomics technologies market will witness substantial growth in the coming years due to several reasons. Transcriptomics research involves studying the structure and function of RNA present in a cell.Presently, transcriptome analysis of several organisms is assisted using next-generation sequencing platforms in the preliminary phase followed by polymerase chain reactions, gene regulation technologies, and microarrays in the latter part. The coalition of these technologies is used for drug discovery, clinical diagnosis of diseases, medical research, and others. With the ever-increasing demand for targeted therapeutics and continual improvement of healthcare infrastructure, the commercial usage of transcriptomics technologies holds promise. Transcriptomics research allows the development of newer therapeutics and diagnostics and further advancement of the existing line of treatment for medical conditions.
The report says that in the transcriptomics technologies market, the key application segments undergo consistent development in order to offer added value to users. For instance, the utilization of transcriptomics technologies has benefitted the pharmaceutical and biotechnology fields; other fields are also deriving the advantages of this technology for mutual benefits of both the technology and the application field. Laboratories attempting to use biomarkers and newer gene sequencing methods is an example of this.
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The need for the development of adequate equipment in healthcare organizations and laboratories, the growing awareness about transcriptomics technologies globally, and increased participation of government bodies in transcriptomics research are some other factors driving this global market.
However, growth of the transcriptomics technologies market is hampered due to certain factors cited in this report. These include the unavailability of advanced equipment needed for biological computation, unavailability of services essential to analyzing complex information, and an overall deficit of technicians that have expertise in the subject.
The report divides the global transcriptomics technologies market into the regional segments of North America, Asia Pacific, Europe, and Rest of the World. Among the regional segments, Asia Pacific will exhibit a substantial uptake of these technologies and the fastest growth rate in the transcriptomics technologies market during the forecast period. Ongoing infrastructural development for improved healthcare and increased acceptance of novel biotechnology research are the reasons for this.
In 2012, North America led the global transcriptomics technologies market, contributing more than 35% of the revenue in the global market. The presence of advanced healthcare infrastructure, which includes well-equipped research facilities, increased awareness of biotechnology research, and the high number of initiatives taken by governments to promote research activities are the reasons for the dominant position of North America in this market.
The report mentions the top players that operate in the global transcriptomics market. These are Life Technologies Corporation, F-Hoffmann La Roche Ltd., Thermo Fisher Scientific, Illumina Inc., Agilent Technologies, and Affymetrix Inc.