The increasing focus on biomarker discovery and toxicogenomics, along with the increasing interest in outsourcing services, is expected to offer significant growth opportunities for the players operating in the global RNA analysis market.
The growth of this market is majorly driven by the increasing demand for personalized medicine, increasing pharmaceutical and biotechnology RD expenditure and government funding for omics, and the increasing applications of RNA sequencing in the transcriptomics market.
RNA ANALYSIS MARKET DYNAMICS
Driver: Increasing demand for personalized medicine
Personalized medicine, which has become a core area of research in the healthcare industry, has entered mainstream clinical practice and is changing how many diseases are identified, classified, and treated. These advancements are particularly evident in the area of oncology. According to the Personalized Medicine Coalition report (2017), the number of personalized drugs, treatments, and diagnostic products has increased since 2006, and this trend is expected to continue in the coming years.
Restraint: High capital investments
With the widespread implementation of novel applications, the use of transcriptomics research extends all the way from the discovery of novel drugs, vaccines, and diagnostic targets, toxicology, and identification of surrogate markers of activity in clinical research to the ability to provide information.
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Opportunity: Increasing focus on biomarker discovery
Biomarker identification, along with its clinical applications, has simplified drug discovery and development procedures in terms of evaluating the toxicity and efficacy of drugs. Besides, biomarkers for diseases like cancer, CVD, and neurological diseases are playing an integral role in enabling a better understanding of the disease pathway and progression.
The microarray technology used in transcriptomic analysis offers the promise of widespread study of diseases at the genomic level. It also aids in developing novel clinical biomarkers, identifying novel molecular abnormalities, and investigating drug efficacy.