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Publishing News and Press Releases

Targeted DNA/RNA Sequencing Market Size to Grow at a CAGR of 8.7% During the Forecast Period 2021–2026

(Publishing-NewsWire.com, August 31, 2021 ) Targeted DNA RNA Sequencing Market size was estimated at $12.8 billion in 2020, projected to grow at a CAGR of 8.7% during the forecast period 2021-2026. Targeted DNA/RNA Sequencing industry has witnessed huge demand and has become crucial in medical research and diagnostics. Precision biomolecule counting based on unique molecular identifier (UMI) has the potential to improve biomolecule detection accuracy in addition to Next Generation Sequencing (NGS) sensitivity and high-throughput capacity. While UMIs are commonly used in basic research, they are still being introduced into clinical assays.



WGS/WES (whole-genome and exome sequencing) offers information on the entire sequence, but it is time-consuming due to the complex and research-intensive data provided, which necessitates more resources. Taking these facts into account, research organizations have started to invest in targeted approaches, which are a more versatile and cost-effective alternative to genome/exome-based methods. Several studies are being conducted to show how sequencing the related regions of the genome are insightful and significantly reduce the cost per sample. As a result, in biomedical science, targeted approaches have started to supplant other WGS/WES methods.



Targeted DNA/RNA Sequencing Market Segment Analysis – By Type:



Based on Type, Targeted DNA/RNA Sequencing Market is segmented into DNA-based Target Sequencing, RNA-based Target Sequencing. DNA-based Target Sequencing has accounted for the largest revenue market share in 2020 owing to its fast and low-cost way to find known and unknown variants in a small number of genes or genomic regions. Depending on the size, gene sequencing can be done using a variety of DNA sequencing methods.



The advancement of whole exome sequencing is aided by the breakthrough of target enrichment strategies and DNA sequencing techniques. RNA-based Target Sequencing segment is poised to grow with the fastest CAGR of 9.2% in the forecast period 2021-2026 owing to its precise method for identifying and sequencing particular transcripts of interest, providing quantitative and qualitative data. In the near future, the growing demand for transcriptome studies to assess disease states and cellular responses to therapeutics is expected to propel market development.



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Targeted DNA/RNA Sequencing Market Segment Analysis – By End User:



Based on Application, Targeted DNA/RNA Sequencing Market is segmented into Drug Discovery, Human Biomedical Research, Plant & Animal Sciences, Others. Drug Discovery has accounted for the largest revenue market share in 2020. The production of diverse datasets for drug discovery, the increasing focus on the discovery of potential drug targets, and the translation of genomic information into the rational drug development process are all factors driving the adoption of the targeted approach in this segment.

Human Biomedical Research segment is projected to grow with the fastest CAGR of 9.5% in the forecast period 2021-2026. Targeted sequencing enables researchers to concentrate on specific genes or regions of interest while still generating high-quality, long-read sequencing data at a low cost. The scalability, speed, and resolution of next-generation sequencing make it ideal for evaluating targeted genes of interest.



Multiple genes can be tested in tandem across multiple samples, saving time and money compared to running multiple separate assays. In comparison to wider methods like whole-genome sequencing, targeted gene sequencing provides a smaller, more manageable data collection, making research simpler.



Targeted DNA/RNA Sequencing Market Segment Analysis – By Geography:



Based on Geography, North America Targeted DNA/RNA Sequencing Market accounted for the 42% revenue share in 2020. This is majorly attributed to the technological advancement along with the presence of effective regulatory bodies to review sequencing-based genetic testing, as well as new approvals of related technologies, has aided regional growth. Furthermore, grants from the National Institutes of Health (NIH) to support targeted sequencing studies in the country have boosted the market in this region.



Asia-Pacific market is poised to grow with the fastest CAGR in the forecast period 2021-2026. This is attributed to the lower cost of NGS-based tests in China as compared to tests in the United States. Furthermore, clinical laboratories in this area are constantly working to follow the regulatory agencies' uniform requirements for NGS platform accreditation.



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Targeted DNA/RNA Sequencing Market Segment Analysis Drivers



Rising Demand for DNA Testing:



Owing to advances in whole genome and exome sequencing techniques, quicker performance, and lower costs of the method as compared to genotyping-based DNA microarray, demand for DNA testing is growing. Oxford Nanopore Technologies released MinIon, the first commercial sequencer based on Nanopore technology, in December 2014. The sequencer determines DNA by calculating the electrical conductivity of DNA strands passing through a biological pore. This technology allowed outbreaks like the Zika virus to be detected. In addition, GenapSys, a company based in the United States that develops DNA sequencing technologies for applied genomic research, unveiled the GENIUS sequencer, that can sequence DNA anywhere.



Targeted DNA/RNA Sequencing Market Segment Analysis – Challenges



Requires Sophisticated Bioinformatics System:



The use of next-generation sequencing has a number of drawbacks. Next-generation sequencing will reveal a variety of molecular abnormalities. The clinical relevance of many of the defects discovered is currently unclear. Next-generation sequencing also necessitates expensive bioinformatics systems, fast data processing, and massive data storage capabilities. Many organizations may have the financial resources to buy next-generation sequencing equipment, but they lack the computational resources and personnel to evaluate and clinically interpret the results.



Targeted DNA/RNA Sequencing Market Segment Landscape:



Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Targeted DNA/RNA Sequencing Market. Targeted DNA/RNA Sequencing Market top 10 companies are F. Hooffmann-La Roche Ltd, Illumina, Inc., GATC Biotech AG., Thermo Fisher Scientific, Inc., Agilent technologies., Oxford Nanopore Technologies., DNASTAR Inc., Pacific Biosciences of California, Inc., QIAGEN, Integrated DNA Technologies, Inc., BGI, PierianDx, Macrogen.



Acquisitions/Product Launches:



In January 2021, Illumina has collaborated with Myriad Genetics in order to develop kit based version of CDx test. It combines NGS technology along with companion diagnostics to improve the genomic profiles of the tumor samples.



In 2019, BGI and GenomiQa signed an agreement. By this agreement GenomiQa was allowed to use ISO15189 accredited laboratory sequencing facilities of BGI.



Key Takeaways



Geographically, North America Targeted DNA/RNA Sequencing Market held the largest revenue share of 42% in 2020 owing to the highest disposable income and growing geriatric population in this region.



Furthermore, the United States has the largest number of installed sequencers that has contributed to the North America regional market's large share.



Increased R&D initiatives by the key players in different region of the world are driving the market growth.



Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is provided in the Targeted DNA/RNA Sequencing Market.



Related Reports :



A. Next Generation Sequencing Market

https://www.industryarc.com/Research/Next-Generation-Sequencing-Market-Research-504217



B. RNA Sequencing Market

https://www.industryarc.com/Research/RNA-Sequencing-Market-Research-502466



For more Lifesciences and Healthcare related reports, please click here



About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

IndustryARC

Venkat Reddy

(+1) 970-236-3677

venkat@industryarc.com

Source: EmailWire.Com

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