Setting

Global Transcriptomics Market 2021-2031 by Component (Instruments, Consumables, Software, Services), Technology (PCR, Next-Generation Sequencing, Microarray, ISH, Gene Regulation, Others), Application (Drug Discovery and Development, Diagnostics, Single Cell Analysis, Gene Expression, Cell Biology, Others), End User (Academic and Research Institutions, Biotech and Biopharma Companies, CROs, Others), and Region: Trend Forecast and Growth Opportunity

Published: 31 Oct 2022 | Report Code: 10248861 | Pages: 175

Global transcriptomics market will reach $ 16,077.8 million by 2031, growing by 10.7% annually over 2021-2031, driven by the surging demand for personalized medicine, the high demand for diagnostic of inflammatory diseases such as COVID-19, the decrease in the cost of sequencing, the rising application of next-generation sequencing and RNA sequencing in transcriptomics, and the advancement of products launches along with increasing R&D expenditure. Highlighted with 92 tables and 79 figures, this 175-page report “Global Transcriptomics Market 2021-2031 by Component (Instruments, Consumables, Software, Services), Technology (PCR, Next-Generation Sequencing, Microarray, ISH, Gene Regulation, Others), Application (Drug Discovery and Development, Diagnostics, Single Cell Analysis, Gene Expression, Cell Biology, Others), End User (Academic and Research Institutions, Biotech and Biopharma Companies, CROs, Others), and Region: Trend Forecast and Growth Opportunity” is based on a comprehensive research of the entire global transcriptomics market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2019-2021 and provides forecast from 2022 till 2031 with 2021 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.) In-depth qualitative analyses include identification and investigation of the following aspects: • Market Structure • Growth Drivers • Restraints and Challenges • Emerging Product Trends & Market Opportunities • Porter’s Fiver Forces The trend and outlook of global market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify global transcriptomics market in every aspect of the classification from perspectives of Component, Technology, Application, End User, and Region. Based on Component, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. • Instruments • Consumables • Software • Services Based on Technology, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. • Polymerase Chain Reaction (PCR) • Next-Generation Sequencing • Microarray • In-Situ Hybridization (ISH) • Gene Regulation Technologies • Other Technologies By Application, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. • Drug Discovery and Development • Diagnostics • Single Cell Analysis • Gene Expression • Cell Biology • Other Applications By End User, the global market is segmented into the following sub-markets with annual revenue ($ mn) for 2021-2031 included in each section. • Academic and Research Institutions • Biotechnology and Biopharmaceutical Companies • Contract Research Organizations (CROs) • Other End Users Geographically, the following regions together with the listed national/local markets are fully investigated: • North America (U.S., Canada, and Mexico) • Europe (Germany, UK, France, Spain, Italy, Netherlands, Rest of Europe; Rest of Europe is further segmented into Russia, Switzerland, Poland, Sweden, Belgium, Austria, Ireland, Norway, Denmark, and Finland) • APAC (Japan, China, South Korea, Australia, India, and Rest of APAC; Rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, Taiwan, and Philippines) • South America (Brazil, Chile, Argentina, Rest of South America) • MEA (UAE?Saudi Arabia? South Africa and Rest of MEA) For each aforementioned region and country, detailed analysis and data for annual revenue ($ mn) are available for 2021-2031. The breakdown of all regional markets by country and split of each national market by Component, Technology and Application over the forecast years are also included. The report also covers current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players. Selected Key Players: 10x Genomics Agilent Technologies, Inc. ANGLE plc Becton, Dickinson and Company (BD) Bio-Rad Laboratories, Inc. BioSypder, Inc. Bio-Techne Cytiva F. Hoffmann-La Roche Ltd. Fluidigm Corporation GE Healthcare Illumina, Inc. Menarini Silicon Biosystems Merck & Co., Inc. NanoString Pacific Biosciences of California, Inc. PerkinElmer Inc. Promega Corporation Qiagen N. V. Takara Bio Inc. Thermo Fisher Scientific Inc. (Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)

Table Of Contents:
1 Introduction	8
1.1 Industry Definition and Research Scope	8
1.1.1 Industry Definition	8
1.1.2 Research Scope	10
1.2 Research Methodology	13
1.2.1 Overview of Market Research Methodology	13
1.2.2 Market Assumption	14
1.2.3 Secondary Data	14
1.2.4 Primary Data	14
1.2.5 Data Filtration and Model Design	15
1.2.6 Market Size/Share Estimation	16
1.2.7 Research Limitations	17
1.3 Executive Summary	18
2 Market Overview and Dynamics	21
2.1 Market Size and Forecast	21
2.1.1 Impact of COVID-19 on World Economy	22
2.1.2 Impact of COVID-19 on the Market	24
2.2 Major Growth Drivers	26
2.3 Market Restraints and Challenges	31
2.4 Emerging Opportunities and Market Trends	34
2.5 Porter’s Fiver Forces Analysis	38
3 Segmentation of Global Market by Component	42
3.1 Market Overview by Component	42
3.2 Instruments	44
3.3 Consumables	46
3.4 Software	48
3.5 Services	50
4 Segmentation of Global Market by Technology	51
4.1 Market Overview by Technology	51
4.2 Polymerase Chain Reaction (PCR)	53
4.3 Next-Generation Sequencing	55
4.4 Microarray	57
4.5 In-Situ Hybridization (ISH)	59
4.6 Gene Regulation Technologies	61
4.7 Other Technologies	62
5 Segmentation of Global Market by Application	63
5.1 Market Overview by Application	63
5.2 Drug Discovery and Development	65
5.3 Diagnostics	66
5.4 Single Cell Analysis	67
5.5 Gene Expression	68
5.6 Cell Biology	69
5.7 Other Applications	70
6 Segmentation of Global Market by End User	71
6.1 Market Overview by End User	71
6.2 Academic and Research Institutions	73
6.3 Biotechnology and Biopharmaceutical Companies	74
6.4 Contract Research Organizations (CROs)	75
6.5 Other End Users	76
7 Segmentation of Global Market by Region	77
7.1 Geographic Market Overview 2021-2031	77
7.2 North America Market 2021-2031 by Country	81
7.2.1 Overview of North America Market	81
7.2.2 U.S.	85
7.2.3 Canada	88
7.2.4 Mexico	90
7.3 European Market 2021-2031 by Country	92
7.3.1 Overview of European Market	92
7.3.2 Germany	96
7.3.3 U.K.	98
7.3.4 France	100
7.3.5 Spain	102
7.3.6 Italy	104
7.3.7 Netherlands	106
7.3.8 Rest of European Market	108
7.4 Asia-Pacific Market 2021-2031 by Country	110
7.4.1 Overview of Asia-Pacific Market	110
7.4.2 Japan	114
7.4.3 China	117
7.4.4 Australia	119
7.4.5 India	121
7.4.6 South Korea	123
7.4.7 Rest of APAC Region	125
7.5 South America Market 2021-2031 by Country	127
7.5.1 Argentina	130
7.5.2 Brazil	132
7.5.3 Chile	134
7.5.4 Rest of South America Market	136
7.6 MEA Market 2021-2031 by Country	137
7.6.1 UAE	140
7.6.2 Saudi Arabia	142
7.6.3 South Africa	144
7.6.4 Other National Markets	146
8 Competitive Landscape	147
8.1 Overview of Key Vendors	147
8.2 New Product Launch, Partnership, Investment, and M&A	152
8.3 Company Profiles	153
10x Genomics	153
Agilent Technologies, Inc.	155
ANGLE plc	156
Becton, Dickinson and Company (BD)	157
Bio-Rad Laboratories, Inc.	158
BioSypder, Inc.	159
Bio-Techne	160
Cytiva	161
F. Hoffmann-La Roche Ltd.	162
Fluidigm Corporation	163
GE Healthcare	164
Illumina, Inc.	165
Menarini Silicon Biosystems	166
Merck & Co., Inc.	167
NanoString	168
Pacific Biosciences of California, Inc.	169
PerkinElmer Inc.	170
Promega Corporation	171
Qiagen N. V.	172
Takara Bio Inc.	173
Thermo Fisher Scientific Inc.	174
RELATED REPORTS	175
List Of Tables:


Table 1.  Snapshot of Global Transcriptomics Market in Balanced Perspective, 2021-2031	19
Table 2. World Economic Outlook, 2021-2031	23
Table 3. Transcriptome Databases	29
Table 4. World Personalized Medicine Market, 2021-2031, $ bn	30
Table 5.  Main Product Trends and Market Opportunities in Global Transcriptomics Market	34
Table 6. Global Transcriptomics Market by Component, 2021-2031, $ mn	42
Table 7. Main Instrument Products from Key Vendors	45
Table 8. Main Consumable Products from Key Vendors	47
Table 9. Main Software Products from Key Vendors	49
Table 10. Global Transcriptomics Market by Technology, 2021-2031, $ mn	51
Table 11. Main PCR-based Transcriptomics and Key Vendors	54
Table 12. Main NGS-based Transcriptomics and Key Vendors	56
Table 13. Main Microarray-based Transcriptomics and Key Vendors	58
Table 14. Main ISH-based Transcriptomics and Key Vendors	60
Table 15. Global Transcriptomics Market by Application, 2021-2031, $ mn	63
Table 16. Global Transcriptomics Market by End User, 2021-2031, $ mn	71
Table 17. Global Transcriptomics Market by Region, 2021-2031, $ mn	78
Table 18.  Leading National Transcriptomics Market, 2021 and 2031, $ mn	80
Table 19. North America Transcriptomics Market by Country, 2021-2031, $ mn	83
Table 20. U.S. Transcriptomics Market by Component, 2021-2031, $ mn	87
Table 21. U.S. Transcriptomics Market by Technology, 2021-2031, $ mn	87
Table 22. U.S. Transcriptomics Market by Application, 2021-2031, $ mn	87
Table 23. Canada Transcriptomics Market by Component, 2021-2031, $ mn	89
Table 24. Canada Transcriptomics Market by Technology, 2021-2031, $ mn	89
Table 25. Canada Transcriptomics Market by Application, 2021-2031, $ mn	89
Table 26. Mexico Transcriptomics Market by Component, 2021-2031, $ mn	91
Table 27. Mexico Transcriptomics Market by Technology, 2021-2031, $ mn	91
Table 28. Mexico Transcriptomics Market by Application, 2021-2031, $ mn	91
Table 29. Europe Transcriptomics Market by Country, 2021-2031, $ mn	95
Table 30. Germany Transcriptomics Market by Component, 2021-2031, $ mn	97
Table 31. Germany Transcriptomics Market by Technology, 2021-2031, $ mn	97
Table 32. Germany Transcriptomics Market by Application, 2021-2031, $ mn	97
Table 33. U.K. Transcriptomics Market by Component, 2021-2031, $ mn	99
Table 34. U.K. Transcriptomics Market by Technology, 2021-2031, $ mn	99
Table 35. U.K. Transcriptomics Market by Application, 2021-2031, $ mn	99
Table 36. France Transcriptomics Market by Component, 2021-2031, $ mn	101
Table 37. France Transcriptomics Market by Technology, 2021-2031, $ mn	101
Table 38. France Transcriptomics Market by Application, 2021-2031, $ mn	101
Table 39. Spain Transcriptomics Market by Component, 2021-2031, $ mn	103
Table 40. Spain Transcriptomics Market by Technology, 2021-2031, $ mn	103
Table 41. Spain Transcriptomics Market by Application, 2021-2031, $ mn	103
Table 42. Italy Transcriptomics Market by Component, 2021-2031, $ mn	105
Table 43. Italy Transcriptomics Market by Technology, 2021-2031, $ mn	105
Table 44. Italy Transcriptomics Market by Application, 2021-2031, $ mn	105
Table 45. Netherlands Transcriptomics Market by Component, 2021-2031, $ mn	107
Table 46. Netherlands Transcriptomics Market by Technology, 2021-2031, $ mn	107
Table 47. Netherlands Transcriptomics Market by Application, 2021-2031, $ mn	107
Table 48. Transcriptomics Market in Rest of Europe by Country, 2021-2031, $ mn	109
Table 49. APAC Transcriptomics Market by Country, 2021-2031, $ mn	112
Table 50. Japan Transcriptomics Market by Component, 2021-2031, $ mn	116
Table 51. Japan Transcriptomics Market by Technology, 2021-2031, $ mn	116
Table 52. Japan Transcriptomics Market by Application, 2021-2031, $ mn	116
Table 53. China Transcriptomics Market by Component, 2021-2031, $ mn	118
Table 54. China Transcriptomics Market by Technology, 2021-2031, $ mn	118
Table 55. China Transcriptomics Market by Application, 2021-2031, $ mn	118
Table 56. Australia Transcriptomics Market by Component, 2021-2031, $ mn	120
Table 57. Australia Transcriptomics Market by Technology, 2021-2031, $ mn	120
Table 58. Australia Transcriptomics Market by Application, 2021-2031, $ mn	120
Table 59. India Transcriptomics Market by Component, 2021-2031, $ mn	122
Table 60. India Transcriptomics Market by Technology, 2021-2031, $ mn	122
Table 61. India Transcriptomics Market by Application, 2021-2031, $ mn	122
Table 62. South Korea Transcriptomics Market by Component, 2021-2031, $ mn	124
Table 63. South Korea Transcriptomics Market by Technology, 2021-2031, $ mn	124
Table 64. South Korea Transcriptomics Market by Application, 2021-2031, $ mn	124
Table 65. Transcriptomics Market in Rest of APAC by Country/Region, 2021-2031, $ mn	126
Table 66. South America Transcriptomics Market by Country, 2021-2031, $ mn	129
Table 67. Argentina Transcriptomics Market by Component, 2021-2031, $ mn	131
Table 68. Argentina Transcriptomics Market by Technology, 2021-2031, $ mn	131
Table 69. Argentina Transcriptomics Market by Application, 2021-2031, $ mn	131
Table 70. Brazil Transcriptomics Market by Component, 2021-2031, $ mn	133
Table 71. Brazil Transcriptomics Market by Technology, 2021-2031, $ mn	133
Table 72. Brazil Transcriptomics Market by Application, 2021-2031, $ mn	133
Table 73. Chile Transcriptomics Market by Component, 2021-2031, $ mn	135
Table 74. Chile Transcriptomics Market by Technology, 2021-2031, $ mn	135
Table 75. Chile Transcriptomics Market by Application, 2021-2031, $ mn	135
Table 76. MEA Transcriptomics Market by Country, 2021-2031, $ mn	139
Table 77. UAE Transcriptomics Market by Component, 2021-2031, $ mn	141
Table 78. UAE Transcriptomics Market by Technology, 2021-2031, $ mn	141
Table 79. UAE Transcriptomics Market by Application, 2021-2031, $ mn	141
Table 80. Saudi Arabia Transcriptomics Market by Component, 2021-2031, $ mn	143
Table 81. Saudi Arabia Transcriptomics Market by Technology, 2021-2031, $ mn	143
Table 82. Saudi Arabia Transcriptomics Market by Application, 2021-2031, $ mn	143
Table 83. South Africa Transcriptomics Market by Component, 2021-2031, $ mn	145
Table 84. South Africa Transcriptomics Market by Technology, 2021-2031, $ mn	145
Table 85. South Africa Transcriptomics Market by Application, 2021-2031, $ mn	145
Table 86. Breakdown of World Market by Key Vendor, 2021, %	149
Table 87. Transcriptomic Products Approved by FDA	149
Table 88. Sequencing Technology Platforms for RNA-Sequencing	150
Table 89. RNA-Sequencing De Novo Assembly Software	150
Table 90. 10x Genomics: Company Snapshot	153
Table 91. 10x Genomics: Business Segmentation	154
Table 92. 10x Genomics: Product Portfolio	154
List Of Figures:


Figure 1. Research Method Flow Chart	13
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation	16
Figure 3. Global Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2021-2031	18
Figure 4. Global Transcriptomics Market, 2021-2031, $ mn	21
Figure 5. Impact of COVID-19 on Business	24
Figure 6. Primary Drivers and Impact Factors of Global Transcriptomics Market	26
Figure 7. Primary Restraints and Impact Factors of Global Transcriptomics Market	31
Figure 8. Investment Opportunity Analysis	35
Figure 9. Porter’s Fiver Forces Analysis of Global Transcriptomics Market	38
Figure 10. Breakdown of Global Transcriptomics Market by Component, 2021-2031, % of Revenue	43
Figure 11. Global Addressable Market Cap in 2022-2031 by Component, Value ($ mn) and Share (%)	43
Figure 12. Global Transcriptomics Market by Component: Instruments, 2021-2031, $ mn	44
Figure 13. Global Transcriptomics Market by Component: Consumables, 2021-2031, $ mn	46
Figure 14. Global Transcriptomics Market by Component: Software, 2021-2031, $ mn	48
Figure 15. Global Transcriptomics Market by Component: Services, 2021-2031, $ mn	50
Figure 16. Breakdown of Global Transcriptomics Market by Technology, 2021-2031, % of Sales Revenue	52
Figure 17. Global Addressable Market Cap in 2022-2031 by Technology, Value ($ mn) and Share (%)	52
Figure 18. Global Transcriptomics Market by Technology: Polymerase Chain Reaction (PCR), 2021-2031, $ mn	53
Figure 19. Global Transcriptomics Market by Technology: Next-Generation Sequencing, 2021-2031, $ mn	55
Figure 20. Global Transcriptomics Market by Technology: Microarray, 2021-2031, $ mn	57
Figure 21. Global Transcriptomics Market by Technology: In-Situ Hybridization (ISH), 2021-2031, $ mn	59
Figure 22. Global Transcriptomics Market by Technology: Gene Regulation Technologies, 2021-2031, $ mn	61
Figure 23. Global Transcriptomics Market by Technology: Other Technologies, 2021-2031, $ mn	62
Figure 24. Breakdown of Global Transcriptomics Market by Application, 2021-2031, % of Sales Revenue	64
Figure 25. Global Addressable Market Cap in 2022-2031 by Application, Value ($ mn) and Share (%)	64
Figure 26. Global Transcriptomics Market by Application: Drug Discovery and Development, 2021-2031, $ mn	65
Figure 27. Global Transcriptomics Market by Application: Diagnostics, 2021-2031, $ mn	66
Figure 28. Global Transcriptomics Market by Application: Single Cell Analysis, 2021-2031, $ mn	67
Figure 29. Global Transcriptomics Market by Application: Gene Expression, 2021-2031, $ mn	68
Figure 30. Global Transcriptomics Market by Application: Cell Biology, 2021-2031, $ mn	69
Figure 31. Global Transcriptomics Market by Application: Other Applications, 2021-2031, $ mn	70
Figure 32. Breakdown of Global Transcriptomics Market by End User, 2021-2031, % of Revenue	72
Figure 33. Global Addressable Market Cap in 2022-2031 by End User, Value ($ mn) and Share (%)	72
Figure 34. Global Transcriptomics Market by End User: Academic and Research Institutions, 2021-2031, $ mn	73
Figure 35. Global Transcriptomics Market by End User: Biotechnology and Biopharmaceutical Companies, 2021-2031, $ mn	74
Figure 36. Global Transcriptomics Market by End User: Contract Research Organizations (CROs), 2021-2031, $ mn	75
Figure 37. Global Transcriptomics Market by End User: Other End Users, 2021-2031, $ mn	76
Figure 38.  Global Market Snapshot by Region	77
Figure 39.  Geographic Spread of Worldwide Transcriptomics Market, 2021-2031, % of Sales Revenue	78
Figure 40. Global Addressable Market Cap in 2022-2031 by Region, Value ($ mn) and Share (%)	79
Figure 41.  North American Transcriptomics Market, 2021-2031, $ mn	82
Figure 42. Breakdown of North America Transcriptomics Market by Country, 2021 and 2031, % of Revenue	83
Figure 43. Contribution to North America 2022-2031 Cumulative Market by Country, Value ($ mn) and Share (%)	84
Figure 44. U.S. Transcriptomics Market, 2021-2031, $ mn	86
Figure 45. Canada Transcriptomics Market, 2021-2031, $ mn	88
Figure 46.  Transcriptomics Market in Mexico, 2021-2031, $ mn	90
Figure 47.  European Transcriptomics Market, 2021-2031, $ mn	93
Figure 48. Breakdown of European Transcriptomics Market by Country, 2021 and 2031, % of Revenue	94
Figure 49. Contribution to Europe 2022-2031 Cumulative Market by Country, Value ($ mn) and Share (%)	95
Figure 50.  Transcriptomics Market in Germany, 2021-2031, $ mn	96
Figure 51.  Transcriptomics Market in U.K., 2021-2031, $ mn	98
Figure 52.  Transcriptomics Market in France, 2021-2031, $ mn	100
Figure 53.  Transcriptomics Market in Spain, 2021-2031, $ mn	102
Figure 54.  Transcriptomics Market in Italy, 2021-2031, $ mn	104
Figure 55.  Transcriptomics Market in Netherlands, 2021-2031, $ mn	106
Figure 56.  Transcriptomics Market in Rest of Europe, 2021-2031, $ mn	108
Figure 57. Asia-Pacific Transcriptomics Market, 2021-2031, $ mn	111
Figure 58. Breakdown of APAC Transcriptomics Market by Country, 2021 and 2031, % of Revenue	111
Figure 59. Contribution to APAC 2022-2031 Cumulative Market by Country, Value ($ mn) and Share (%)	113
Figure 60.  Transcriptomics Market in Japan, 2021-2031, $ mn	115
Figure 61.  Transcriptomics Market in China, 2021-2031, $ mn	117
Figure 62.  Transcriptomics Market in Australia, 2021-2031, $ mn	119
Figure 63.  Transcriptomics Market in India, 2021-2031, $ mn	121
Figure 64.  Transcriptomics Market in South Korea, 2021-2031, $ mn	123
Figure 65.  Transcriptomics Market in Rest of APAC, 2021-2031, $ mn	125
Figure 66. South America Transcriptomics Market, 2021-2031, $ mn	128
Figure 67. Breakdown of South America Transcriptomics Market by Country, 2021 and 2031, % of Revenue	128
Figure 68. Contribution to South America 2022-2031 Cumulative Market by Country, Value ($ mn) and Share (%)	129
Figure 69.  Transcriptomics Market in Argentina, 2021-2031, $ mn	130
Figure 70.  Transcriptomics Market in Brazil, 2021-2031, $ mn	132
Figure 71.  Transcriptomics Market in Chile, 2021-2031, $ mn	134
Figure 72.  Transcriptomics Market in Rest of South America, 2021-2031, $ mn	136
Figure 73. Transcriptomics Market in Middle East and Africa (MEA), 2021-2031, $ mn	138
Figure 74. Breakdown of MEA Transcriptomics Market by Country, 2021 and 2031, % of Revenue	138
Figure 75. Contribution to MEA 2022-2031 Cumulative Market by Country, Value ($ mn) and Share (%)	139
Figure 76.  Transcriptomics Market in UAE, 2021-2031, $ mn	140
Figure 77.  Transcriptomics Market in Saudi Arabia, 2021-2031, $ mn	142
Figure 78.  Transcriptomics Market in South Africa, 2021-2031, $ mn	144
Figure 79. Growth Stage of Global Transcriptomics Industry over the Forecast Period	147
Selected Key Players: 
10x Genomics
Agilent Technologies, Inc.
ANGLE plc
Becton, Dickinson and Company (BD)
Bio-Rad Laboratories, Inc.
BioSypder, Inc.
Bio-Techne
Cytiva
F. Hoffmann-La Roche Ltd.
Fluidigm Corporation
GE Healthcare
Illumina, Inc.
Menarini Silicon Biosystems
Merck & Co., Inc.
NanoString
Pacific Biosciences of California, Inc.
PerkinElmer Inc.
Promega Corporation
Qiagen N. V.
Takara Bio Inc.
Thermo Fisher Scientific Inc. 
(Please note: The report will be updated before delivery so that the latest historical year is the base year and the forecast covers at least 5 years over the base year.)