MicroRNA Market Industry Analysis - MicroRNA Market Size Driven by Recent Developments, Marketing Approaches, and Innovation

The Global MicroRNA Market is expected to grow at a CAGR of around 13.2% from 2022 to 2030 and reach the market value of over US$ 911.8 Million by 2030.

North America dominates the microRNA market by recording a reasonable market share. This is attributed to the presence of prominent players in this region, extensive R&D activities, and highly established research infrastructure for proteomics, genomics, and oncology. Additionally, several government initiatives that support the growth of the domestic biotechnology industry by offering tax exemption for R&D, increased budgets and funding, creating public and private conglomerates by attracting foreign direct investments are the factors that support the growth of the global microRNA market.

On the other hand, Asia Pacific is anticipated to register the fastest growing CAGR in the forthcoming years for the global microRNA market. Rapid advancements in genomic studies and the adoption of newer tools for supporting research endeavors are the prominent factors that support the growth of the overall microRNA market.

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Market Dynamics

Technological innovations for improving the sensitivity and selectivity of miRNA contribute to the growth of the global microRNA market. The newly developed methods for miRNA detection involve nano-particle-based amplification, RCA-based methods, DSN-based methods, LAMP-based methods, and enzyme amplification. Similarly, in January 2020, researchers developed a program-based isothermal amplification technique for specific and quantitative digital measurement of miRNA. The advantage of the system is that contamination is reduced by the fact that this system is dependent on the signal amplification process rather than direct replication of the targeted sequence, as it is done using PCR-based approaches.

Segmental Outlook

MicroRNA market is segmented as product, services, application, and end-user. By product, the market is bifurcated into instruments and consumables. By services, the market is segmented as sample collection, miRNA cDNA synthesis, miRNA profiling & purification, next generation sequencing (NGS), microarray, real time PCR (qRT-PCR), and others. By application, the market is segregated as cardiovascular diseases, cancer, neurological diseases, immunological disorders, infectious diseases, and others. Furthermore, end-user is segmented as biotechnology & pharmaceutical companies, academic & government research institutes, and others.

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Based on product, consumables segment dominates the global microRNA market. A wide range of consumables are used for miRNA profiling involving detection kits, qPCR primers, transfection reagents, and others. High adoption of consumables is witnessed as they are replaced regularly due to their non-durable nature and are primarily attributed to segmental growth. Some prominent players providing consumables involve Thermo Fisher Scientific Inc.; Miltenyi Biotec; and NanoString.

Based on end-user, academic, and research institutes segment dominates the global microRNA market by recording reasonable revenue share. The growth of the segment can be attributed primarily to supportive government initiatives for facilitating genomics research by academic and research institutes. For example, the Australian government awarded a grant of approximately USD 21.6 million in May 2020 to support genomics research in pediatric disease and cancer.

Competitive Landscape

The major players involved in the microRNA market involve The Merck Group, Thermo Fisher Scientific, Inc., Horizon Discovery Group plc, Synlogic, QIAGEN, GeneCopoeia, Inc., New England Biolabs, Quantabio, NanoString Technologies, Inc., BioGenex, SeqMatic LLC., Miltenyi Biotec, and among others.

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Some of the key observations regarding microRNA industry include:

• In May 2020, Thermo Fisher Scientific, Inc., announced a strategic agreement with MSAID GmbH to develop and commercialize deep learning tools for proteomics, making MSAIDs Prosit-derived framework widely accessible to proteomics laboratories. The availability of deep learning tools will enable improved confidence in proteomics research results, primarily in the areas of protein profiling using label-free or tandem mass tag (TMT) based quantification, and a variety of new application.

• In March 2016, BioGenex announced a new product launching namely, "Xmatrx automation". BioGenex unique miRNA probes enable detection of single nucleotide mismatch thus allowing high sensitivity and specificity. BioGenex miRNA-ISH detection kits are optimized for miRNA detection with robust amplification of the signal producing clean intense staining. Each kit includes easy-to-follow protocols and ready-to-use reagents

• In May 2020, NanoString Technologies, Inc., announced a collaboration with OnRamp BioInformatics to develop new analysis tools for data generated on NanoString's "nCounter® Analysis System". The new analysis functionality is built into "ROSALIND", OnRamp's cloud-based analysis suite that facilitates data visualization, exploration, and collaboration.

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This release was published on openPR.