The 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.
Ribonucleic acid (RNA) markers play a crucial role in gene expression and regulation. It helps in identification of cell lineages, tissues and provides functional insights into cells and tissues. It aids in detecting gene expression signatures and alternative splicing which helps researchers to understand disease progression and development of new treatments.
Market key trends:
Growing application of RNA markers in diagnosing and monitoring diseases is a major trend witnessed in the market. It helps clinicians in identifying infectious agents, determining cancer subtypes and stages, monitoring disease progression or response to treatment. RNA markers derived from circulating tumor cells and circulating tumor RNA enable non-invasive real-time disease monitoring via blood draws. Emerging technologies like RNA sequencing and digital PCR are expanding application of RNA markers in research and therapeutics development for various conditions like cancer, neurological and infectious diseases. Growing healthcare expenditure and R&D investment in disease diagnostics and treatment are some factors fostering growth of the RNA markers market over the forecast period.
Threat of new entrants: The threat of new entrants in the RNA markers market is moderate due to the high capital investment needed to set up new facilities for manufacturing RNA markers. Furthermore, existing players have already established brand recognition and distribution networks globally.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the presence of a large number of manufacturers providing RNA markers. However, innovative markers introduced by key players increase customer retention.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitutes and less differentiation in components used for manufacturing RNA markers. This allows buyers to negotiate prices with different supplier.
Threat of new substitutes: The threat of new substitutes is moderate as the development of new molecular diagnostic technologies provides alternatives to DNA/RNA-based tests. However, RNA markers have wide applications in research and hold significance in disease diagnosis and prognosis.
Competitive rivalry: High due to presence of large global players.
Strength: Wide applications in gene expression, protein synthesis studies, and disease diagnosis. Growing funding for genomic and proteomic research.
Weakness: Requirement of well-equipped laboratories and trained professionals for RNA extraction and analysis. High capital investment for setting up manufacturing units.
Opportunity: Increasing R&D on RNA sequencing and applications in oncology and rare disease diagnosis. Growing pharmaceutical and biotechnology industries in developing nations.
Threats: Alternatives like protein-based testing, price wars among existing players. Compliance with stringent quality and regulatory guidelines.
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 government funding for genomics research globally. North America is expected to dominate the global RNA markers market over the forecast period, attributed to high funding for precision medicine research and growing demand for advanced molecular diagnostic procedures in the region.
Regional analysis: The North American region accounted for the largest share of the global RNA markers market in 2023 due to rising implementation of precision medicine, large genomics research projects, and growing demand for early stage diagnosis of cancer. Asia Pacific is estimated to witness the highest CAGR during the forecast period owing to increasing healthcare expenditure, upcoming projects under the 100,000 Genomes Project in countries like China and India, and expanding biopharmaceutical sector.
Key players operating in the 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, bioMÃ©rieux SA, New England Biolabs, Promega Corporation, Merck KGaA, Takara Bio Inc., Abnova Corporation, Thermo Fisher Scientific Inc., QIAGEN, Bio