Number of pages: 100 | Report Format: PDF | Published date: 30 August, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
The global microRNA market was pegged at ~US$ 264.4 million in 2021 and is expected to witness a CAGR of ~13.8% during the forecast period.
A microRNA is a tiny, single-stranded non-coding RNA molecule that can be found in plants, animals, and some viruses. It controls post-transcriptional gene expression and RNA silencing. miRNA is present in abundance in mammalian cell types and as extracellular circulating miRNAs. Circulating miRNAs can serve as biomarkers for many disorders because they are released into bodily fluids including blood and cerebrospinal fluid.
Emerging microRNA tools for disease-associated analytical applications, the enormous traction gained by microRNA target prediction and identification, and the continuing widespread adoption of most of the microRNA tools are key factors that have contributed to the global microRNA market growth. Furthermore, microRNAs are among the most significant potential biopharmaceutical candidates that are making their way into the market to be used in the creation of future medications. The industry is being driven using microRNA as a biomarker. MicroRNA biomarkers are of particular interest in genome-wide investigations and data-driven methodology since they outperform more conventional approaches in terms of reproducibility and robustness. They are therefore excellent aspirants for the creation of biomarkers. Additionally, the expanding popularity of liquid biopsies has increased the significance of microRNAs. The market for microRNA is being further stimulated by the ongoing quest for novel therapeutic compounds that can function as new medications by biopharmaceutical companies. The market is also expanding as a result of technological advancements made to increase the sensitivity and selectivity of miRNA detection.
However, the safety and toxicity of these molecules are a matter of concern, due to which several companies have stopped their clinical trials related to microRNA-based therapeutics development.
The global microRNA market has been analyzed from four perspectives: product, application, end-user, and region.
MicroRNA Market by Product
The global microRNA market has been subdivided into two product types: instruments and reagents & kits. The reagents and kits segment dominated the market for microRNA and holds the largest revenue share. This high share is attributed to the rising product launches and expanding research on extracellular RNA for clinical diagnosis and development of therapeutics.
on the other hand, the instruments segment is expected to experience a significant market growth. This is because of the increasing number of clinical trials to evaluate microRNA efficacy. Instruments like real time PCR are consistently used as a reliable technique for detecting microRNA expression owing to their large dynamic range, high sequence specificity, and high sensitivity. It is used for a wide range of research applications such as microRNA profiling, quantification, validation, and functional analysis.
MicroRNA Market by Application
Based on application, the global microRNA market has been divided into, disease diagnostics, profiling, localization, & quantification; and isolation & purification. The disease diagnostics segment holds the largest revenue share in the market owing to the growing prevalence of chronic diseases globally which leads to enhanced molecular diagnostics demand. Thus, this augments the segmental growth.
MicroRNA Market by End-User
The market for microRNA was dominated by the academic and research institutes sector, which also contributed to the greatest revenue share. The development of the market may mostly be traced to supportive government programs that aid academic and research institutions in their genomics research. The increasing use of microRNA by diagnostic labs, CROs, and hospitals for the diagnosis of numerous diseases, including cancer, cardiovascular disease, and infectious diseases, is also anticipated to support market expansion.
MicroRNA Market by Region
The global microRNA market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World, based on regions. The microRNA market is dominated by North America. This dominance is due to factors including the presence of important players, significant R&D efforts, and developed research infrastructure for cancer, proteomics, and genomics. Additionally, microRNA biomarker patent approvals play a significant role in the market expansion.
A significant increase is anticipated in Asia Pacific during the predicted period. This expansion can be ascribed to the quick progress being made in genetic research and the use of new tools to aid in research projects.
Some of the prominent players operating in the global microRNA market are :-