Tumor Transcriptomics Market to Grow with a CAGR of 6.34% Globally through 2029
The rise in the adoption of advanced genome sequencing is
expected to drive the demand for the global tumor transcriptomics market in the
forecast period, 2024-2029.
According to TechSci Research report, “Tumor Transcriptomics Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2029F”, Global
Tumor Transcriptomics Market was valued at USD 5.67 billion in 2023 and is
anticipated to project robust growth in the forecast period with a CAGR of
6.34% through 2029. The Global Tumor Transcriptomics Market is experiencing
significant growth driven by several key factors. Enhancements in healthcare
infrastructure, a surge in biopharmaceutical companies, and the introduction of
cutting-edge technologies like microarrays are among the primary drivers
propelling market demand. Tumor transcriptomics, a subset of RNA studies, plays
a crucial role in understanding cancer mechanisms and identifying biomarkers.
It involves exploring various aspects such as noncoding RNAs, novel
transcripts, alternative splicing, and fusion transcripts, providing valuable
insights into the molecular underpinnings of cancer. Recent advancements in
high-throughput technologies have revolutionized tumor transcriptomics,
enabling large-scale gene expression profiling. Next-generation sequencing
technologies, including microarrays and real-time quantitative polymerase chain
reaction (Q-PCR), are integral to these advancements, allowing researchers to
study diseases at the genome level with unprecedented detail. These
technological innovations not only facilitate comprehensive disease analysis
but also aid in the development of clinical biomarkers and the identification
of molecular disorders, paving the way for more targeted and personalized
treatment approaches. However, despite the promising growth prospects, the
market faces several challenges. A shortage of skilled professionals and
limited access to efficient data analysis tools, particularly in developing
nations, may impede market growth in the foreseeable future. Addressing these
challenges will require concerted efforts from stakeholders across the
healthcare ecosystem to promote education and training programs and improve
access to advanced technologies and resources. The Global Tumor Transcriptomics
Market holds immense potential for driving advancements in cancer research and
personalized medicine. By overcoming existing challenges and leveraging ongoing
technological innovations, the market is poised for continued growth and
innovation in the years to come.
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The global tumor transcriptomics market is segmented into tumor type,
technology, product, application, end user, regional distribution, and
competitive landscape.
Based on Product, the consumables dominated the market in 2023. This is
ascribed due to due to recurring demand for essential supplies such as
reagents, kits, and assay components required for transcriptomic analysis. As
tumor transcriptomics involves high-throughput sequencing and analysis,
consumables play a critical role in sample preparation, library construction,
and data generation. Moreover, advancements in technology and protocols drive
continuous innovation and development of specialized consumables tailored to
transcriptomic workflows. The consumables segment's dominance reflects the
ongoing need for reliable and cost-effective solutions to support research,
diagnosis, and therapeutic advancements in oncology.
Based
on end user, The Biotechnology & Pharmaceutical Companies segment dominates
the Global Tumor Transcriptomics Market in 2023. This is due to its substantial
investments in research and development, advanced technologies, and vast
resources. These companies possess the expertise and infrastructure needed to
conduct large-scale transcriptomic studies, identify novel biomarkers, and
develop targeted therapeutics. Additionally, their access to patient cohorts,
clinical data, and regulatory pathways accelerates the translation of
transcriptomic discoveries into clinical applications. As leaders in drug
development and personalized medicine, biotechnology and pharmaceutical
companies play a pivotal role in driving innovation and shaping the future of
tumor transcriptomics.
Based
on region, North America dominated the Global Tumor Transcriptomics Market.
This is due to its advanced healthcare infrastructure, significant investments
in research and development, and a concentration of leading biotechnology and
pharmaceutical companies. Moreover, supportive regulatory frameworks, strong
academic and research institutions, and a large pool of skilled professionals
contribute to the region's leadership. Additionally, high adoption rates of
innovative technologies and a robust market ecosystem further bolster North
America's dominance in tumor transcriptomics, making it a hub for advancements
and commercialization in the field.
Major operating companies operating in global tumor transcriptomics market are:
- Thermo Fischer Scientific, Inc.
- Caris
Life Sciences
- Illumina,
Inc.
- NanoString
Technologies, Inc.
- 10x
Genomics, Inc.
- Agilent
Technologies, Inc.
- Bio-Rad
Laboratories, Inc.
- F.
Hoffmann-La Roche Ltd
- Standard BioTools Inc.
- Pacific
Biosciences of California, Inc.
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“The continual investments and initiatives from prominent entities aimed at
enhancing drug discovery processes and refining techniques for evaluating
medication efficacy and safety present promising growth prospects for market
participants in the foreseeable future. The ongoing clinical utilization of
biomarkers, particularly in treating conditions such as neurological disorders,
cardiovascular diseases, and cancer, is anticipated to significantly impact
market demand. Consequently, the discovery of new clinical biomarkers, the
identification of molecular irregularities, advancements in drug discovery and
disease diagnosis procedures, coupled with the expanding healthcare
infrastructure, are poised to drive the growth of the global tumor
transcriptomics market until 2029” said Mr. Karan Chechi, Research Director
of TechSci Research, a research based global management consulting firm.
“Tumor Transcriptomics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Tumor Type (Breast Cancer, Lung Cancer, Colorectal Cancer, Prostate Cancer, Melanoma, Others), By Technology (Microarray, Real-Time Quantitative, Polymerase Chain Reaction (Q-PCR), Others), By Product (Consumables, Instrument, Software & Services), By Application (Diagnostics and Disease Profiling, Drug Discovery, Others), By End User (Biotechnology & Pharmaceutical Companies, Research & Academic Institutions, Others), and By Region 2019-2029F”, has evaluated the
future growth potential of global tumor transcriptomics and provides statistics
& information on market size, structure, and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in global tumor transcriptomics market.
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