MiRNA Sequencing and Assay Market
Number of pages: 100 | Report Format: PDF | Published date: March 03, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 3.07 billion |
|
Revenue Forecast in 2031 |
US$ 11.38 billion |
|
CAGR |
14% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023-2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Product, Technology, End User, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global MiRNA sequencing and assay market was valued at US$ 3.07 billion in 2021 and is expected to register a revenue CAGR of 14% to reach US$ 11.38 billion by 2031.
MiRNA Sequencing and Assay Market Fundamentals
Small RNA sequence analysis aids in identifying new miRNAs and other small RNAs and evaluating their differential expression in a sample. The method is suitable for assessing microRNAs without intermediary structures or sequence information, as well as single-base resolution characterization of variations, such as isomiRs. Furthermore, as the usage of miRNA sequencing analysis develops, business leaders have made significant investments.
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MiRNA Sequencing and Assay Market Dynamics
The miRNA sequencing market is expected to register significant revenue growth in the coming years due to increasing demand for miRNA sequencing in clinical laboratories owing to the rising prevalence of cancer and other diseases. miRNA sequencing can provide knowledge about disease pathogenesis’s genetic mechanisms, identify potential therapeutic targets, and track treatment response. As a result, miRNA sequencing has become a valuable tool in precision medicine.
Advances in sequencing technology are propelling the miRNA sequencing market forward. Sequencing by synthesis (SBS) technology has become incredibly common for miRNA sequencing due to its high accuracy, sensitivity, and speed. Furthermore, SBS technology is becoming more accessible and cost-effective, propelling its usage in clinical and research settings.
The rise in efforts to discover novel applications for miRNA sequencing is propelling the miRNA sequencing market forward. MiRNA sequencing can discover new miRNAs, characterize miRNA expression in various tissues and cell types, and detect changes in miRNA expression in response to various treatments. As a result, miRNA sequencing is becoming an essential tool for both basic research and clinical applications. In summary, the miRNA sequencing market is projected to grow substantially in the years to come as the prevalence of cancer and other diseases rises, sequencing technology advances, and new applications for miRNA sequencing emerge.
MiRNA Sequencing and Assay Market Ecosystem
The global MiRNA sequencing and assay market has been analyzed from four perspectives: product, technology, end-user, and region.
MiRNA Sequencing and Assay Market by Product
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Based on the product, the global MiRNA sequencing and assay market has been segmented into sequencing consumables and library preparation kits.
The library kit preparation segment is expected to dominate the market during the forecast period. The rising prevalence of chronic diseases, such as cancer, cardiovascular disease, diabetes, and others, as well as rare disorders, drives the demand for appropriate treatment alternatives and moves the market segment forward.
MiRNA Sequencing and Assay Market by Technology
Based on technology, the global MiRNA sequencing and assay market has been segmented into sequencing by synthesis, ion semiconductor, sOLiD, and nanopore sequencing.
The sequencing by synthesis segment is expected to dominate the global MiRNA sequencing and assay market during the forecast period, owing to its simple workflow, best data accuracy, and wide range of applications. The SBS technology is becoming increasingly popular for miRNA sequencing in clinical laboratories. SBS is a DNA sequencing method that uses successive cycles of synthesis, extension, and detection to determine the nucleotide bases of a DNA strand. Moreover, SBS technology is well-suited for miRNA sequencing due to its high accuracy, sensitivity, and speed. It also requires a very small sample, making it ideal for clinical applications. Several miRNA sequencing platforms have been developed using SBS technology, including Illumina’s MiSeq, Ion Torrent’s Proton, and Oxford Nanopore’s MinION. These platforms sequence miRNAs in biological samples, such as blood, tissue, and cell cultures. SBS technology has enabled the development of new miRNA sequencing applications, such as identifying novel miRNAs and quantifying miRNA expression in various tissues and cell types. It can also predict disease risk and progression and identify biomarkers for cancer diagnosis and prognosis. The growing prevalence of cancer and other diseases is expected to increase the demand for miRNA sequencing in clinical laboratories in the coming years. SBS technology is a powerful tool for miRNA sequencing that is becoming more accessible and affordable.
MiRNA Sequencing and Assay Market by End User
Based on end user, the global MiRNA sequencing and assay market has been segmented into clinical laboratories, life science organizations, and others.
The clinical laboratories segment is expected to dominate the market during the forecast period. MicroRNA (MiRNA) sequencing is becoming increasingly popular in clinical laboratories for the diagnosis and prognosis of cancer. The demand for miRNA sequencing in clinical laboratories is expected to increase in the coming years due to the growing prevalence of cancer and other diseases. MiRNA sequencing can provide insights into the molecular mechanisms underlying disease pathogenesis and offer valuable information for clinical decision-making. Furthermore, miRNA sequencing can be used to identify potential therapeutic targets and monitor treatment response. As such, miRNA sequencing is becoming an important tool for precision medicine. In addition to its clinical applications, miRNA sequencing is also used in basic research to gain insights into gene regulation and the roles of miRNAs in various biological processes. miRNA sequencing is becoming increasingly accessible and cost-effective, driving its adoption in clinical and research applications. As such, the demand for miRNA sequencing in clinical laboratories is expected to grow in the coming years.
MiRNA Sequencing and Assay Market by Region
Based on the region, the global MiRNA sequencing and assay market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
North America dominated the MiRNA sequencing and assay market. This can be attributed to the presence of many prominent companies, such as Illumina Inc., Thermo Fisher Scientific, and PerkinElmer, Inc., in the region. The increase in R&D spending by major firms in the United States to develop novel and improved products is likely to drive regional growth. Illumina, Inc., for instance, spent USD 682 million on research and development in 2020 to develop new sequence analysis technologies and enhance existing equipment. The presence of various groups and organizations in this region that take measures to raise awareness about new and improved miRNA sequencing products and technology fuels regional development. Furthermore, miRNA sequencing and assays are widely used in clinics, healthcare networks, military, and agricultural institutions that receive government funding. As a result, favorable government policies and investments are boosting regional market growth.
MiRNA Sequencing and Assay Market Competitive Landscape
The prominent market players in global MiRNA sequencing and assay include:
MiRNA Sequencing and Assay Market Strategic Developments
Technological developments are the latest trend in MicroRNA research, resulting in significant progress in miRNA technology. In recent years, producers and researchers have been inspired to develop new solutions due to increased technological improvements in the essential phases of miRNA expression profiling, target gene identification, and validation.
Illumina, Inc., Thermo Fisher Scientific, QIAGEN N.V., New England Biolabs, and Takara Bio Inc. are among the top market players.
The library preparation kit segment is estimated to dominate the global miRNA sequencing and assay market during the forecast period.
The market in Asia Pacific is expected to register the highest revenue growth during the forecast period.
The safety and toxicity of miRNA remain a source of contention. As a result, several businesses have suspended clinical trials for innovative miRNA-based therapies.
*Insights on financial performance is subject to availability of information in public domain