The global microRNA (miRNA) market size is expected to reach USD 458.0 Million by 2028 at a CAGR of 11.6%, according to a new report by Reports and Data. Significant revenue growth is mainly attributed to increasing research development programs on genomics and RNA biology, rise in adoption of high-throughput miRNA analysis techniques, and emergence of next-generation miRNA sequencing techniques. Rising prevalence of chronic disorders such as cancer, increasing infectious disease outbreaks such as the ongoing COVID-19 pandemic, and growing applications of miRNA in the pharmaceutical and biotechnology sectors are other key factors responsible for market growth. Furthermore, major advancements in gene sequencing technologies and rise in government investments in life sciences RD activities bolster the global microRNA (miRNA) market growth.
A microRNA (miRNA) is a small, single-stranded RNA molecule present in animals, plants, and different viruses. Post-transcriptional regulation of gene expression and RNA silencing are two of the key functional areas of miRNAs. miRNAs complement messenger RNA (mRNA) in down-regulating the gene expression and also regulate several vital cellular functions such as cell differentiation, proliferation, and apoptosis. Besides identifying different cell types, they play an indispensable role in cell physiology and development and various pathological processes such as viral infections, autoimmune diseases, and carcinogenesis. miRNAs are present in various mammalian cell types in large numbers. MicroRNA sequencing is a form of RNA sequencing that involves next-generation DNA sequencing technology and is performed by researchers to study miRNA isoforms, tissue-specific expression patterns, and disease associations.
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Some Key Highlights in the Report:
- Based on product type, the kits, reagents, and consumables segment emerged as the most dominant segment in 2020, with the highest revenue share of over 60%. Growth of this segment can be attributed to extensive use of detection kits, consumables, qPCR primers, and transfection reagents miRNA profiling and analysis due to their non-durable nature.
- The RT-PCR research tools segment was the most dominant in 2020 and accounted for a revenue share of around 33% in the global microRNA (miRNA) market. High reliability and sequence specificity of this technique for detection of miRNA expression, increasing applications of RT-PCR in miRNA profiling, quantitation, validation, and analysis, and rapidly increasing volumes of RT-PCR tests for COVID-19 are the key factors driving the growth of this segment.
- North America accounted for the highest revenue share of around 45% in the global microRNA (miRNA) market in 2020. Market growth in this region is accelerated by increasing research development activities in the fields of genomics, proteomics, and oncology, introduction of advanced miRNA biomarkers, increasing RD investments in the biotechnology and biopharmaceutical industries, and the state-of-the-art healthcare infrastructure in North America.
- Agilent Technologies, Exigon, Merck KGA, Illumina, Inc., NanoString Technologies, Inc., and Thermo Fischer Scientific are among the leading competitors in the global microRNA (miRNA) market.
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For the purpose of this report, the global microRNA (miRNA) market is segmented on the basis of product type, research tools and services, application, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2020-2028)
- Instruments
- Kits, Reagents, and Consumables
- Isolation Purification
- Quantification Detection
- Functional Analysis
- Others
Research Tools and Services Outlook (Revenue, USD Million; 2020-2028)
- Tools
- RT-PCR
- Biomarkers
- Next Gen Sequencing (NGS)
- Microarray Analysis Tools
- Functional Analysis Tools
- Extraction Tools
- Others
- Services
- miRNA cDNA Synthesis
- Quantification Services
- Microarray Services
- Sequencing Services
- Functional Studies Services
- Others
Application Outlook (Revenue, USD Million; 2020-2028)
- Cancer
- Infectious Diseases
- Immunological Disorder
- Cardiovascular Disease
- Neurological Disease
- Others
End-use Outlook (Revenue, USD Million; 2020-2028)
- Biopharmaceutical Companies
- Academic Research Institutes
- Contract Research Organizations (CROs)
- Diagnostic Centers
Regional Outlook (Revenue, USD Million; 2020-2028)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of the Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East Africa
- Saudi Arabia
- UAE
- Rest of the Middle East Africa
Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register highest market growth over the forecast period attributed to increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
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Growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and RD activities to hamper market growth
Imposition of strict government regulations and shortage of funds have put a halt on the product launches and RD activities and are expected to restrain market growth over the forecast period. In addition, launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering market growth.
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