Albany, NY -- (SBWIRE) -- 08/03/2018 -- In a largely consolidated global transcriptomics technologies market, majority market share is held by a few large players, as per a new report by Transparency Market Research (TMR). Large companies are focused on organic growth route to further bolster their position.
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1Key companies to name in the global transcriptomics technologies market are Affymetrix Inc., F-Hoffmann La Roche Ltd., Life Technologies Corporation, Agilent Technologies, Illumina Inc., and Thermo Fisher Scientific.
As per the TMR study, the global transcriptomics technologies market is predicted to clock a CAGR of 15.90% for the forecast period between 2013 and 2019, for the market to be worth US44.6 bn by the end of 2019. The demand in the market translated into a revenue of US$1.65 bn in 2012. By technology, polymerase chain reaction (PCR) segment is anticipated to continue to lead vis-à-vis revenue until 2019. PCR offers benefits of process efficiency, greater amplification, and better precision over other technology segments. This, along with wider application areas, versatility in approach, and incessant product modification are some other attributes of PCR. On the other hand, next generation sequencing (NGS) segment is poised to display a significant growth rate over the forecast period.
Geography-wise, North America is predicted to continue to dominate the global transcriptomics market until 2019. The region being home to several biotech companies along with well-established infrastructure account for its dominance.
Efforts of Pharmaceutical Companies to Develop Personalized Medicine Fuels Growth
The global transcriptomics technologies market is poised for a notable growth in the near future, says the lead author of the study. Transcriptomics research involves studying anatomy and physiology of RNA in a cell. At present, transcriptome analysis of several organisms is carried out using next-generation sequencing platforms in the initial phase followed by gene regulation technologies, polymerase chain reactions, and microarrays in the latter part.
The rising interest of pharmaceutical companies in the development of personalized and targeted therapeutics is stoking demand for identification of disease-specific biomarkers. This, in turn is aiding the growth of transcriptomics technologies market. In addition, increasing R&D investments for biological research along with improvement of healthcare infrastructure are providing a fillip to this market. The fusion of these technologies is used for clinical diagnosis of diseases, drug discovery, medical research, and others. Transcriptomics research allows development of novel diagnostics and therapeutics and further advancement of existing treatment for medical conditions.
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Generation of Massive Volume of Data from Research, Academia Stokes Demand
Growing focus on the development of bioinformatics tools and services is another key factor boosting the transcriptomics technologies market. The massive volume of research data generated as a result of research and development pursuits in the corporate, academic, and research sectors has created a pressing need to develop sophisticated and reliable software. This is creating demand for advanced bioinformatics tools to manage massive volume of research data.
Consistent development in applications of transcriptomics technologies to offer added value to users is boosting the growth of transcriptomics technologies market. For example, the utilization of transcriptomics technologies benefits pharmaceutical and biotechnology fields among others.
However, on the downside, unavailability of avant-garde equipment needed for biological computation, unavailability of services essential to analyze complex information, and an overall dearth of technical personnel are hindrances to the growth of transcriptomics technologies market.
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