RNA Analysis Market Size

RNA Analysis Market Analysis

The RNA Analysis Market is expected to register a CAGR of 13.6% over the forecast period.

The onset of the COVID-19 pandemic impacted the studied market significantly. The outbreak of the pandemic increased the demand for testing and diagnosis following the severity of the infection caused by the SARS-CoV-2 virus. The number of research increased to find the genetic makeup of the virus. So that scientists can discover an efficient vaccine for the disease. Thus, the demand for next-generation sequencing (NGS) and polymerase chain reaction (PCR) increased. This significantly impacted the market growth. Hence, the COVID-19 pandemic had a favorable impact on the market initially. Currently, as the pandemic has subsided, the market has lost some traction; however, it is expected to have stable growth during the forecast period of the study.

In addition, PCR and NGS are being used to provide clinical advice on anti-inflammatory medications and to better understand the molecular structure of the host and the response to develop successful therapies. As per an article published in MDPI in July 2021, reverse-transcription polymerase chain reaction (RT-PCR) is the most used diagnostic test for SARS-CoV-2, and its widespread use is attributed to its simplicity and relatively high sensitivity. Thus, during the crucial phases of the pandemic, the market witnessed significant growth. However, as the pandemic has subsided currently, the market has lost some traction, but it is expected to have stable growth during the forecast period.

The factors expected to drive the market growth include the high prevalence of cancer across the world, the increasing infectious diseases, technological advancements, and the increasing demand for diagnosis and testing in healthcare. The rising demand for personalized medicine in oncology treatment, rising demand for research and development expenditure in RNA analysis, and the buying of platforms for the testing of pharmaceutical and biotechnology companies are driving the growth of the RNA analysis market.

Personalized medicine has entered mainstream clinical practice and is transforming how many diseases are detected, classified, and treated. It has become a fundamental focus of research in the healthcare business. Oncology is one area where these gains are particularly noticeable, with several tailored medications, therapies, and diagnostic tests that have grown for ages, and this trend is projected to continue in the coming years. According to the global cancer observatory data updated in March 2021 statistics, the number of cancer is expected to reach 28,887,840 by the year 2040. The increasing burden of the disease is also contributing to the increasing demand for RNA analysis products for developing innovative precision medicines for cancer. Hence, expected to drive the growth of the market over the analysis period.

Additionally, market players nowadays are focused more on product developments and innovations. This is also bolstering the growth of the market. For instance, in April 2022, Lexogen, a transcriptomics, and Next-Generation Sequencing company, introduced the new CORALL RNA-Seq V2 whole transcriptome library prep kit. Whole-transcriptome analysis with RNA sequencing (RNA-Seq) is at the cutting edge of NGS capabilities and allows the determination of RNA molecules in a sample during sampling. Furthermore, the strategic initiatives taken by the market players also augment the growth of the market. For instance, in January 2021, Merck acquired AmpTec to strengthen Merck's capabilities to develop and manufacture mRNA for its customers for use in vaccines, treatments, and diagnostics applicable to COVID-19 and many other diseases. Such company activities are expected to contribute to the market growth over the analysis period.

However, high costs associated with the analysis platforms and high capital investment in research and development are predicted to restrain the growth of the market studied over the forecast period.