According to the report, the size of the Asia Pacific RNA Analysis Market is valued at USD 0.70 Billion in 2023 and is predicted to grow at a CAGR of 14.5% to reach USD 1.37 Billion by 2028 during the forecast period 2023 to 2028.
The Asia-Pacific market for RNA analysis market is growing at a promising CAGR due to the growing number of gene therapies. Personalized medicine, a central area of research in the healthcare industry, has entered mainstream clinical practice and is changing the number of diseases identified, classified, and treated. These advances are particularly evident in the field of oncology. According to the Coalition for Personalized Medicine (2017) report, the number of personalized drugs, treatments, and diagnostics has increased, and this trend is estimated to continue in the years to come.
Developing APAC regions like India are experiencing a lucrative growth rate, owing to advancements in RNA analysis used in clinical diagnostics for detection of RNA, pathogenic RNA splice variants, among others. For example, next-generation sequencing is used to fragment RNA into multiple pieces, add adapters, sequence libraries, and reassemble them to form a unique genomic sequence. The specificity and target selectivity of RNA therapies is helping companies and laboratories to reduce costs by making intense and advanced drug development models. Identifying biomarkers and their taxonomical applications have simplified drug discovery and development with improved efficacy. Next-generation sequencing and RNA interference are currently viral amongst researchers to analyze transcriptional activity.
Several APAC regional markets are taking initiatives to adopt DNA microarrays, sequencing, polymerase chain reaction, and recombinant DNA technologies as emerging trends to grow their healthcare infrastructure. In addition, biomarkers of diseases such as cancer, cardiovascular disease, and neurological disease provide a better understanding of the disease, which significantly helps the physicians.
However, the high cost coupled with high failure rates and reimbursement issues associated with adopting RNA-based therapies would limit the market's growth. In addition, since the study and analysis of RNA is still in the niche stage in APAC regions, the use of different types of platforms and instruments and laboratory documentation systems requires high investments to make the setup less desirable for small start-ups. Furthermore, it decreases the rate of massive cell sequencing, thus restraining the market.
Likewise, many existing tools developed for analyzing transcriptomic data have not been successful. Coupled with poor healthcare infrastructure in some regions, this will challenge the market.
This research report on the Asia Pacific RNA Analysis Market has been segmented and sub-segmented into the following categories
By End User:
Geographically, the China RNA analysis market accounted for the largest share of the RNA analysis market, followed by Japan, India, South Kora, Taiwan, and Australia. The large share of this market can be attributed to the increasing development of the life-science industry, increased academic and government investment in genomics and proteomics research, high spending on biopharmaceutical research and development, and a large number of global players and greater adoption of advanced technologies.
With the widespread knowledge about RNA, the use of transcriptomics in research, growing demand for personalized medicine, the discovery of new drugs, vaccines, and the identification of cellular markers in clinical research will increase the market growth rate in several APAC regions like India, Japan, and South Korea. In addition, the demand for personalized medicine is very high in these regions due to medical tourism.
KEY MARKET PLAYERS
Top Companies dominating the Asia Pacific RNA Analysis Market Profiled in the Report are Illumina Inc, Qiagen N.V, Affymetrix Inc, Agilent Technologies Inc, F. Hoffmann-La Roche Ltd, Sigma Aldrich, Fluidigm Corporation, Bio-Rad Laboratories Inc, GE Healthcare, and Thermofisher Scientific Inc.,
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