Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- The global transcriptomics technologies market was valued at US$1.65 billion in 2012. Between 2013 and 2019, the global transcriptomics technologies market will grow at a CAGR of 15.9%, settling at a market value of US$4.6 billion by the end of this market forecast period. A research report, published by Transparency Market Research, titled "Transcriptomics Technologies Market (Microarrays, PCR, Gene Regulation and Next Generation Sequencing) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019", explores the many possibilities in the transcriptomics technologies market in terms of market growth and opportunities.
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According to the report, the global transcriptomics technologies market is set to expand in the next few years. This growth is largely attributed to the growing need for its products in companion diagnostics as well as personalized healthcare.
The report says that within its key application segments, the global transcriptomics technologies market undergoes constant development, which adds to its value. Application segments of the transcriptomics market include pharmaceuticals and biotechnology. Other fields also derive technological advancements in the global transcriptomics technologies market, thereby allowing it to grow faster.
Other segments that are developing better uses for transcriptomics technologies include laboratories attempting to use them in biomarkers and novel gene sequencing methods.
Other growth drivers for the global transcriptomics technologies market include the creation of adequate equipment in labs and healthcare organizations, growing awareness on a global scale of the advantages of transcriptomics technologies, and increased participation by government bodies in the global transcriptomics technologies market, in terms of incentive initiatives.
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The key players in the global transcriptomics technologies market, as mentioned in the report, include Life Technologies Corporation, Illumina, Inc., F-Hoffmann La Roche Ltd., Agilent Technologies, Thermo Fisher Scientific., and Affymetrix, Inc.
From a geographical perspective, the global transcriptomics technologies market is currently pioneered by the Asia Pacific region, which is expected to exhibit the fastest growth rate for the report's forecast period. This rate of growth is attributed to an increase in population as well as a growing vendor base in the region.
Other regions in the geographical segmentation of the global transcriptomics technologies market include Europe, North America, and Rest of the World. Of these, the market was dominated by North America in 2012 with a revenue share of 35%. North America contains some well-equipped medical labs and possesses a greater level of awareness towards the transcriptomics technologies.
The report cites the factors that might hamper the growth of the global transcriptomics technologies market. These include lack of tools that are useful for computation of biology, non-availability of services that are necessary for the analysis of the complicated information, and an overall lack of resources with domain expertise.
The report also describes the functionalities of transcriptomics technologies, including their use is drug discovery, gene expression patterns, along with the aid in clinical diagnosis of several disorders.
Key segments of the Global Transcriptomics Technologies Market
Transcriptomics Technologies Market, by Technology
- Polymerase Chain Reaction (PCR)
- Gene Regulation Technologies
- Next Generation Sequencing (NGS)
Transcriptomics Technologies Market, by Applications
- Clinical Diagnostics
- Drug Discovery and Research
- Comparative Transcriptomics Studies
Transcriptomics Technologies Market, by Geography
- North America
- Rest of the World (RoW)
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Source:Transparency Market Research