Transparency Market Research Report Added "Transcriptomics Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast upto 2019"
Albany, NY -- (SBWIRE) -- 02/09/2017 -- The global transcriptomics technologies market is expected to experience noteworthy growth in the forthcoming years. The growing interest of pharmaceutical companies in the development of targeted and personalized therapeutics is creating a demand for the identification of disease-specific biomarkers. This trend is contributing significantly to the growth of the market. Moreover, the increasing investments in the research and development activities along with the continual improvement in the healthcare infrastructure is providing a substantial boost to the growth of the market.
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The future of the global transcriptomics technologies market looks bright with the rising focus on the development of bioinformatics tools and services. The increasing research and development activities are creating a pressing need among corporate, academic, and research institutes to develop sophisticated and reliable software to manage the plethora of research data.
Hence, there are immense opportunities for both software and life science companies to develop advanced bioinformatics tools. Owing to all these factors, the opportunity in the global transcriptomics technologies market was pegged at US$2.55 bn in 2015 and is poised to expand at a CAGR of 15.9% between 2013 and 2019, reaching US$4.62 bn by 2019.
On the basis of technology, polymerase chain reaction (PCR) will continue to lead the market in terms of revenue until 2019. Benefits offered by PCR such as high process efficiency, better precision, and greater amplification are boosting its uptake. Moreover, wider application areas along with versatility in approach and incessant product modification are catalyzing the growth of the segment.
The next generation sequencing (NGS) segment is likely to tread along a healthy growth track, expanding at a CAGR greater than 19.0% during the forecast period. Factors such as rapid technological advancements enabling the analysis of cellular transcriptome from several dimensions, expanding application areas of NGS, and the increasing outsourcing of sequencing technologies are propelling the growth of the segment.
Based on applications, drug discovery and research was the dominant segment in terms of revenue in 2015 and will maintain its leadership until 2019. The rigorous research and development initiatives in the field of genomics and proteomics are boosting the adoption of transcriptomics technologies in drug discovery and research. The segment is expected to expand at a significant CAGR of 18.2% during the same period.
Geographically, the global transcriptomics technologies market will continue to be dominated by North America until 2019. The region is primarily driven by the presence of numerous biotech companies with well-established infrastructure and advanced technological platforms. The increasing investment from private organizations for transcriptomics research is assisting companies in the region in developing targeted therapeutics. Moreover, the presence of various academic and research institutes pursuing transcriptome studies is fuelling the growth of the region. The region will command 39% in the overall market revenue by 2019.
Asia Pacific is estimated to exhibit a CAGR of 18.0% during the same period. The tremendous growth of the region can be attributed to the consistent growth in the research and development activities in the field of life sciences. The rising trend of outsourcing clinical research and medical research, particularly in India and China, is fuelling the advancements in life sciences, thereby promoting the growth of the transcriptomics technologies market in the region.
Europe and Rest of the World are expected to rise at the similar pace during the forecast horizon. The leading players in the market are Affymetrix Inc., Agilent Technologies, F-Hoffmann La Roche Ltd., Illumina Inc., Life Technologies Corporation, and Thermo Fisher Scientific.
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