The transcriptomics market is expected to bring in $11.39 billion by 2030 at

Portland, OR, May 30, 2022 (GLOBE NEWSWIRE) — According to the report released by Allied Market Research, the transcriptomics market accounted for $5.79 billion in 2020 and is expected to reach $11.39 billion by 2030, growing at a CAGR of 7.0% from 2021 to 2030.

Rising demand for personalized medicine, government funding for omics, increasing expenditure on pharmaceutical and biotechnology R&D, and increasing applications of RNA sequencing have driven the growth of the global transcriptomics market. However, the lack of skilled professionals is hampering the growth of the market. On the contrary, the presence of untapped potential in developing countries would open up new opportunities in the future.

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Covid-19 scenario:

The Covid-19 pandemic has had a positive impact on the market due to increased production of vaccines and increased investment to study the immune response in patients infected with Covid-19.
Rising number of product approvals and new innovations by key players has further complemented the growth of the market.

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The global transcriptomics market is segmented on the basis of type, technology, applications, and region. By application type, the diagnostics and disease profiling segment is expected to show the highest CAGR of 7.5% from 2021 to 2030. However, the drug discovery segment held the largest share in 2020, accounting for more than three-fifths of the global transcriptomics market. .

By end-user, the pharmaceutical and biotechnology companies segment is expected to register the highest CAGR of 7.8% from 2021 to 2030, owing to the increase in the variety of applications in disease diagnosis and analysis. However, the government institutes and academic centers segment held the lion’s share in 2020, accounting for about half of the global transcriptomics market, owing to the surge in disease diagnosis.

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By region, the global transcriptomics market in North America dominated in 2020, accounting for more than two-fifths of the market, thanks to a robust infrastructure provided for research activities and the presence of key players in North America. However, the Asia-Pacific market is expected to show the highest CAGR of 8.7% during the forecast period, owing to the increase in the use of transcriptomics for drug discovery, R&D activities for the launch of new products and increased investments in the health sector.

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