Ribonucleic acid (RNA) markers are majorly used for RNA sequencing applications. RNA sequencing helps in understanding the mechanisms behind gene expression and regulation, which aids in disease diagnosis, drug discovery and development of personalized medicines. It provides deeper insights into molecular pathways and complex networks compared to traditional methods. The growing adoption of RNA sequencing across various end users such as academic institutes, hospitals, pharmaceutical and biotechnology companies is driving the demand for RNA markers.
The global Ribonucleic Acid (RNA) Markers Market is estimated to be valued at US$ 347.6 Mn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing Funding for RNA Research
RNA sequencing has become a fundamental tool for understanding important biological mechanisms. The increasing funding for RNA research by government as well as private organizations is fueling the adoption of RNA sequencing techniques. For instance, in 2020, the U.S. National Institutes of Health invested over US$ 966 Mn in RNA research and sequencing projects. This rise in funding is facilitating the development of novel RNA markers and sequencing platforms, thereby driving the growth of the global RNA markers market during the forecast period.
Strength: RNA markers are highly accurate and sensitive for molecular diagnostic testing. They help in early detection of diseases.
Weakness: RNA isolation procedure is complicated and requires highly trained personnel. High cost of RNA extraction kits limits its use.
Opportunity: Growing prevalence of chronic diseases and genetic disorders is driving the need for personalized medicine. This increases the demand for RNA markers.
Threats: Limitations of PCR-based assays and lack of standardization poses challenges. Stringent regulatory approvals also delay the commercialization of new RNA markers.
The global RNA markers market is expected to witness high growth. Regional analysis comprises
Regional analysis: North America dominates the global RNA markers market currently due to rising adoption of personalized medicine and technical advancements. Asia Pacific is poised to register fastest growth during the forecast period supported by growing healthcare investments, rising medical tourism, and increasing disease awareness.
Key players: Key players operating in the RNA markers market are Carl Zeiss AG, Hoya Corporation, Canon Inc., Nidek Co., Ltd., Topcon Corporation, Intelligent Retinal Imaging Systems, Inc., Kowa Company Ltd., Optomed Oy (Ltd.), Vision Equipment Inc., Clarity Medical Systems, Inc., Medimaging Integrated Solution Inc., S4OPTIK LLC., Shenzhen Thondar Technology Co., Ltd., CenterVue SpA. They are focusing on new product launches, collaborations and regulatory approvals to strengthen their market position.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it