Factors such as mRNA sequencing accelerates diagnostic rate for rare diseases and innovative product launches propel the mRNA sequencing market growth.
The Swedish Orphan Biovitrum AB publication state statistics revealed that, currently, more than 7,000 estimated rare/orphan diseases have been identified globally. Among these, only 5% have approved medicines globally. Therefore, there is a huge burden of healthcare costs associated with the treatment of rare diseases. The healthcare cost is approx. 10 times higher than other diseases. For example, in the US, the cost of 373 rare diseases accounts for US$2.2 trillion annually. Based on estimates, the healthcare cost for all known rare diseases may be in the range of US$ 7.2–8.6 trillion annually. Thus, rare diseases associated with difficulties and delays in diagnosis, lack of treatment availability, development of new treatment, and favorable regulatory and accessibility will result in the development of innovative technologies. Illumina's "Whole-Genome Sequencing (WGS)" is one such example that improves diagnosis for rare genetic diseases. WGS offers three key advantages over other genetic testing methods, i.e., improvement in operational efficiency, low manufacturing, and low diagnostic cost. Also, WGS is the most comprehensive test to detect multiple variant types in a single assay, proving important for rare diseases.
Thus, the increasing demand for mRNA sequencing to identify rare diseases is contributing to the growing mRNA sequencing market size.
The “mRNA sequencing market analysis” has been carried out by considering the following segments: type, method, and end user.
Segmental Analysis:
By type, the mRNA sequencing market is bifurcated into products and services. The type segment is further classified into products and services. The consumables segment held the largest mRNA sequencing market share in 2022. The service segment is anticipated to register the highest CAGR of 13.9% for the forecast period.
High-throughput mRNA sequencing is a standard technique for transcriptome discovery and identifying differential gene expression analysis in life science laboratories. Therefore, innovative product launches by the manufacturers will enhance consumables segment growth. PacBio's "SMRTbell prep kit 3.0 and binding kits 3.1 and 3.2" are examples of innovative consumables used for mRNA sequencing. Additionally, in October 2023, PacBio announced new product launches for the development of high-quality and accurate sequencing solutions, "Kinnex RNA kits." The Kinnex RNA kits increase throughput for full-length RNA, single-cell RNA, and 16S rRNA sequencing. These Kinnex kits are based on the “MAS-seq methods” where customers can transcript long chain libraries to short, increase throughput, and make the sequencing process more cost-effective.
With the technology influx, mRNA vaccines and therapeutics have an influential impact on meeting unmet medical needs. For example, the emerging mRNA sequencing technology will contribute to cancer research. Illumina's mRNA sequencing for cancer transcriptome is one such example that provides functional information about cancer gene expression and gene fusion that aids scientists in understanding tumor classification and progression. Therefore, cancer mRNA sequence can help scientists to:
Likewise, the development of SARS-CoV-2 vaccines involves mRNA technology. Therefore, sequence confirmation is a critical activity during mRNA therapeutic and vaccine manufacturing. Therefore, Thermo Fisher Scientific "Sanger Sequencing" is one such technology used to develop mRNA vaccine. With mRNA vaccine manufacturing, accuracy is required at many stages of production where DNA and RNA intermediates are manipulated, wherein Sanger sequencing offers the key attributes. These attributes include simple workflow, short clinical time, and scalable workflow. Also, Thermo Fisher Scientific, using Sanger Sequencing technology, has developed a streamlined protocol for the sequencing of mRNA without the need for PCR amplification prior to cycle sequencing, shortening clinical result time and minimizing errors. Therefore, technological advancements in mRNA sequencing will ultimately open new avenues for the market growth.
The scope of the report focuses on North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa. In 2022, North America held the largest mRNA sequencing market share. The market in this region is driven by the presence of key market players. In addition, extensive R&D by various pharmaceutical and biotechnology companies and academic & research institutes is expected to stimulate the North America mRNA sequencing market growth. The US is the largest contributor to the market in North America. It is mainly driven by the growing biotechnology sector, characterized by technological advancements. Furthermore, increasing R&D investments by US-based pharmaceutical and biotechnology companies to improve outcomes of clinical trials and ensure patient safety stimulate the market growth.
The regional trends and factors influencing the mRNA Sequencing Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses mRNA Sequencing Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 1,356.94 Million |
| Market Size by 2030 | US$ 3,662.50 Million |
| Global CAGR (2022 - 2030) | 13.2% |
| Historical Data | 2020-2022 |
| Forecast period | 2022-2030 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The mRNA Sequencing Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the mRNA Sequencing Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The mRNA sequencing market forecast can help stakeholders in this marketplace plan their growth strategies. A few strategic developments by leading players operating in the mRNA sequencing market are listed below:
Takara Bio Inc.; Illumina, Inc.; QIAGEN; F. Hoffmann-La Roche Ltd; Quantabio; Zymo Research Corporation; baseclick GmbH; Paragon Genomics, Inc.; Yeasen Biotechnology (Shanghai) Co., Ltd.; Novogene Co, Ltd; and Norgen Biotek Corp are among the prominent companies profiled in the mRNA sequencing market report. These companies focus on developing new technologies, upgrading existing products, and expanding their geographic presence to meet the growing consumer demand worldwide.
The List of Companies - mRNA Sequencing Market
The CAGR value of the mRNA sequencing market during the forecasted period of 2022-2030 is 13.2%.
Key factors that are driving the growth of this market are identification of mRNA sequencing for diagnosis of rare diseases and innovative product launches is expected to boost the market growth for the mRNA sequencing over the years.
The product segment held the largest share of the market in the global mRNA sequencing market and held the largest market share in 2022.
Illumina, Inc. and F. Hoffmann-La Roche Ltd are the top two companies that hold huge market shares in the mRNA sequencing market.
The next-generation sequencing segment dominated the global mRNA sequencing market and held the largest market share in 2022.
mRNA sequencing is a powerful technique that is used to investigate the transcriptome status of a gene including transcription level and splicing variants. Currently, several mRNA sequencing methods have been developed and three are commercially available RNA-seq library preparation kits, traditional "TruSeq", and a full-length double-stranded cDNA methods for transcriptome analysis.
The mRNA sequencing market majorly consists of the players such Takara Bio Inc., Illumina, Inc., QIAGEN, F. Hoffmann-La Roche Ltd, Quantabio, Zymo Research Corporation, baseclick GmbH, Paragon Genomics, Inc., Yeasen Biotechnology (Shanghai) Co.,Ltd. Novogene Co, Ltd and Norgen Biotek Corp, and amongst others.
Global mRNA sequencing market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa and South & Central America. North America held the largest market share of the mRNA sequencing market in 2022.