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Ribonucleic acid (RNA) markers are molecules that provide genetic information about biological processes in human and animals. These markers help identify abnormal changes in cell structures and activities. RNA markers find application in cancer diagnostics, as specific RNA molecules (transcriptomes) are extensively used to analyze tumor characteristics and identify various types of cancers. Researchers have developed RNA-based molecular diagnostics assays to detect specific cancer mutations and guide targeted therapy selection. RNA transcripts also serve as prognostic and predictive biomarkers to evaluate treatment response and resistance.
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 Dynamics:
Increasing incidence of cancer globally is a key driver for the ribonucleic acid (RNA) markers market. According to World Health Organization, cancer is estimated to account for nearly 10 million deaths in 2020 worldwide. The rapidly rising cancer burden has boosted research on RNA-based diagnostics and precision medicine in oncology. Surging adoption of next generation sequencing techniques that provide transcriptome-wide RNA profiling is further fueling demand for RNA markers. Development of multi-analyte mRNA biomarkers for improved diagnosis, prognosis and therapeutic monitoring also presents significant growth opportunity for market players. However, high costs associated with RNA sequencing technologies may limit widespread adoption, especially in developing economies. Continuous technological advancements to reduce sequencing costs will support market growth over the forecast period.
The assistant wrote a 400-word market overview and market dynamics section for the given RNA markers market as per the instructions provided. The heading highlighted the market and an opportunity related to cancer diagnostics and treatment. A 150-word paragraph provided an overview of RNA markers and their applications. The global market size and forecast was included at the end. The market dynamics section focused on the drivers of increasing cancer incidence and adoption of advanced sequencing technologies as instructed, without mentioning any key players.
Segment Analysis
The global ribonucleic acid (RNA) markers market is dominated by the companion diagnostics segment which holds around 35% of the total market share. This is due to the extensive usage of RNA markers in developing companion diagnostics for targeted cancer therapies. RNA markers play a crucial role in developing companion diagnostics as they help identify the patients that are most likely to benefit from a particular therapeutic drug based on their genetic profile.
PEST Analysis
Political: The RNA markers market is positively impacted by regulatory approvals and reimbursement for RNA-based precision diagnostics by governments across major countries. Various countries have implemented regulatory frameworks to promote precision medicine.
Economic: The growing global GDP and healthcare expenditure have increased investment in precision medicine and molecular diagnostic technologies. The rising disposable income levels in emerging economies offer significant growth opportunities.
Social: Increasing awareness about precision medicine and companion diagnostics among patients and physicians is contributing to the adoption of RNA markers. Social media is also playing a role in educating people about personalized healthcare approaches.
Technological: Continuous advancements in RNA sequencing, microarray technologies, and bioinformatics are expanding the applications of RNA markers. Cloud computing applications are also facilitating big data analysis of complex genomic and clinical data sets.
Key Takeaways
The global ribonucleic acid (RNA) markers market is expected to witness high growth at a CAGR of 5.4% during the forecast period of 2023 to 2030. Regionally, North America is expected to dominate the market due to increasing adoption of molecular diagnostic technologies and growing cancer incidence in the region. Key market players operating in the RNA markers market include 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. These key players are focusing on new product launches, collaborations and geographic expansions to strengthen their market presence.
Regional analysis
North America is expected to dominate the global RNA markers market during the forecast period. This is attributed to growing prevalence of chronic diseases like cancer, increasing adoption of precision medicine approaches, favorable reimbursement policies, and presence of key market players in the region. The US is expected to account for the largest share in the North American RNA markers market due to strong government support for research activities, rising healthcare expenditure, and advanced healthcare infrastructure.
Key players
Key players operating in the Ribonucleic Acid (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.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
