March 2, 2024

Enhanced Focus On Precision Medicine To Fuel Growth Of The Rna Markers Market

The Global Ribonucleic Acid (RNA) Markers Market is estimated to be valued at US$ 226.6 Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Ribonucleic acid (RNA) markers are nucleotides that help in understanding gene expression at cellular level. RNA biomarkers are very useful as they can provide precise information about disease risk, progression, or response to treatment. They serve as potential alternatives to invasive diagnostic procedures. The increasing focus on precision medicine is driving the demand for RNA markers. Precision medicine requires comprehensive biomarkers for accurate diagnosis and treatment of various diseases including cancer. Thus, RNA markers have wide applications in disease diagnosis, drug discovery, and development of precision therapeutics.

Market key trends:
Next-generation sequencing (NGS) techniques are revolutionizing the use of RNA markers in medical research as well as clinical settings. NGS helps in large-scale and cost-effective profiling and quantification of RNA transcripts. It offers high-throughput analysis of whole transcriptomes and identification of mRNA isoforms that can serve as crucial biomarkers. NGS-based RNA sequencing is becoming a standard tool for RNA marker discovery and validation. It is also enabling comprehensive screening of RNA markers for multiple diseases in a single experiment. The advancement of NGS technology is anticipated to boost the utility and adoption of RNA markers in upcoming years.

Porter’s Analysis
Threat of new entrants: The RNA markers market requires high R&D investment and established distribution channels. This poses a moderate threat of new entrants.
Bargaining power of buyers: The presence of several vendors provides buyers with multiple options. However, differentiated products limit switching. This results in moderate bargaining power.
Bargaining power of suppliers: Key raw material suppliers possess low bargaining power due to the availability of substitute raw materials.
Threat of new substitutes: Alternatives like DNA markers are available but do not provide the level of precision offered by RNA markers. This leads to a low threat of substitution.
Competitive rivalry: The market is highly competitive with major global players offering application-specific RNA markers.

Key Takeaways
The Global Ribonucleic Acid (Rna) Markers Market Analysis is expected to witness high growth, exhibiting CAGR of 8.7% over the forecast period, due to increasing applications in diagnostics and therapeutics.

Regional analysis
North America dominates the global RNA markers market due to presence of major players, developed healthcare infrastructure, rising research activities and increasing funding for novel drug development in the region. Asia Pacific exhibits the fastest growth owing to growing biopharmaceutical sector and extensive R&D initiatives in developing countries.

Key players
Key players operating in the Ribonucleic Acid (RNA) Markers Market are Agilent Technologies, Inc., Oxford Gene Technology IP Limited, PerkinElmer Inc., Eurofins Scientific, F. Hoffmann-La Roche Ltd, NextGen Life Sciences Private Limited, bioMérieux SA, New England Biolabs, Promega Corporation, Merck KGaA, Takara Bio Inc., Abnova Corporation, Thermo Fisher Scientific Inc., QIAGEN, Bio-Rad Laboratories, Inc., Lonza, CardioNet, ZOLL Medical Corporation and Hill-Rom Services, Inc.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it