miRNA Tools and Services Market - Clinical Aspects, Review, Survey Report And Synthesis 2022
In addition, it is anticipated that the ability of miRNAs to act as diagnostic biomarkers and predictors of drug response will boost the demand for miRNA. However, the challenges related to the quantification and development of internal miRNA research tools, such as microarrays, restrict market growth.
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The global market was valued at $146 million in 2015 and is expected to garner $620 million by 2022, registering a CAGR of 23.4% during the forecast period 2016 - 2022. Research tools segment held the nearly four-fifths share of the total market in 2015.
It is expected that the qRT-PCR technology segment will maintain its dominant position throughout the period of analysis due to the increase in the incidence of chronic diseases such as cancer and cardiovascular disorders. The increased demand for the identification of miRNA in different organisms and their associated role as a diagnostic biomarker for the disease also drives market growth.
The research segment and academic institutes dominated the market with more than two-fifths of the total market in 2015. This is mainly attributed to the increase in research projects undertaken to test the capacity of miRNA as candidates for biomarkers of diseases.
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The major companies profiled in the report include QIAGEN (Exiqon), Thermo Fisher Scientific Inc., Illumina, Inc., Agilent Technologies, GE Healthcare Dharmacon Inc., GeneCopoeia, Inc., Promega Corporation, Bio-Rad Laboratories, Inc., Merck & Co., Inc., and New England Biolabs.
Key Findings of the Study:
• Research tools led the global miRNA tools and services market and accounted for nearly four-fifths of the total market in 2015.
• Functional studies services segment is projected to grow at the highest CAGR of 31.2% during the forecast period.
• CROs is the fastest growing segment and is expected to grow at a CAGR of 27.4% during the forecast period.
• qRT-PCR technology segment occupied nearly one-third of the market in 2015.
• In 2015 Japan was the major shareholder and accounted for almost one-third of the Asia-Pacific market.
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