The growth of this market is majorly driven by the increasing demand for personalized medicine, increasing pharmaceutical and biotechnology R&D expenditure and government funding for omics, and the increasing applications of RNA sequencing in the transcriptomics market. 

The increasing focus on biomarker discovery and toxicogenomics, along with the increasing interest in outsourcing services, is expected to offer significant growth opportunities for the players operating in the global RNA analysis/transcriptomics market. On the other hand, the requirement of high capital investments and data management issues are expected to restrain the growth of this market to a certain extent.

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Personalized medicine, which has become a core area of research in the healthcare industry, has entered mainstream clinical practice and is changing how many diseases are identified, classified, and treated. These advancements are particularly evident in the area of oncology.  

According to the Personalized Medicine Coalition report, the number of personalized drugs, treatments, and diagnostic products has increased since 2006, and this trend is expected to continue in the coming years.  

With the widespread implementation of novel applications, the use of transcriptomics research extends all the way from the discovery of novel drugs, vaccines, and diagnostic targets, toxicology, and identification of surrogate markers of activity in clinical research to the ability to provide information on the mechanisms of drug action. 

The microarray technology used in transcriptomic analysis offers the promise of widespread study of diseases at the genomic level. It also aids in developing novel clinical biomarkers, identifying novel molecular abnormalities, and investigating drug efficacy.  

Microarray experiments for transcriptomic studies produce enormous amounts of data. Therefore, researchers typically face problems in the interpretation of results and exploiting available computational power to process said data. Moreover, RNA sequencing data from transcriptomics studies have low genome coverage and high amplification bias, which makes data analysis extremely challenging, especially without effective bioinformatics tools. Many existing tools developed for bulk cell sequencing have not been effective in the analysis of transcriptomics data. 

Based on end user, the RNA analysis/transcriptomics market is segmented into academic & research institutes, pharmaceutical & biotechnology companies, hospitals & diagnostic centers, and contract research organizations.  

The contract research organizations (CROs) segment is expected to witness the highest growth during the forecast period. CROs provide affordable outlets for companies and academia to pursue new medicines and offer a cost-effective solution to developing drugs. 

According to our findings, the RNA analysis market is expected to grow at an approximate CAGR of 15–17% for the next two years.