Pune, Sept. 27, 2024 (GLOBE NEWSWIRE) -- MicroRNA Market Size & Growth Analysis:
According to SNS Insider, The MicroRNA Market Size was valued at USD 1.3 Billion in 2023 and is expected to reach USD 7.7 Billion by 2032 and grow at a CAGR of 21.1% over the forecast period 2024-2032.
This growth is further induced by the rapid application of microRNAs (miRNAs) in disease diagnostics and therapeutics backed by technological interventions and more investments in research and development. The increasing usage of miRNAs for gene regulation and their future role in drug discovery as potential biomarkers for diseases are leading to expansion in the market.
Market Analysis
The microRNA market has witnessed tremendous growth credited to the ever-increasing demand for advanced diagnostic applications and targeted therapies. Increased chronic diseases and rising personalization in healthcare are driving this market forward. Product and service lines significantly contributed to the market in 2023, which stood at around USD 1.3 billion. The demand for miRNA-based diagnostics and therapeutic applications has increased exponentially following advancements in technology and an expanded pipeline of ongoing research activities. More companies are now offering new products and services for miRNA-related research. Advances in miRNA technology have significantly enhanced the accurate diagnosis and treatment of diseases, giving a further boost to the market.
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Key MicroRNA Market Players:
- Thermo Fisher Scientific, Inc.
- QIAGEN
- New England Biolabs
- Quantabio
- Horizon Discovery Group plc.
- NanoString Technologies, Inc.
- Merck KGaA
- Takara Bio, Inc.
- LGC Limited
- BioGenex
- GeneCopoeia, Inc.
- New England Biolabs
- BioVendor
- Heim Biotek
- SeqMatic LLC
- Miltenyi Biotec
- Sistemic Scotland Limited
- Biodynamics Laboratory Inc.
- OriGene Tec
- Synlogic
MicroRNA Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 1.3 Billion |
| Market Size by 2032 | US$ 7.7 Billion |
| CAGR | CAGR of 21.1% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segmentation
By Product and Services
In 2023, the service segment dominated the microRNA market with a share of 58.8 % of the revenue. This dominance is mainly due to the wide-ranging services that include isolation and purification, synthesis of miRNA cDNA, profiling, localization, and quantification, and even functional analysis. For example, recent research studies published in Nature highlighted the need for producing the P-TarPmiR method, which allows for the precise identification of high target specificity for plant-specific miRNAs, thereby making it necessary to have specialized services in the study of miRNAs.
By Application
The cancer segment accounted for the highest revenue in the year 2023 due to considerable investments in cancer research and miRNA-based therapies and diagnostics. Advances in miRNA-based treatment and diagnostic test clinical trials are enhancing the discovery of types and stages of cancers.
By End-User
In 2023, the market will be dominated by the segment of biotechnology and pharmaceutical companies as these end-users form the crux of interaction and partnership with research institutions, access to the latest research, and large-scale projects that act as catalysts for accelerating advancements in miRNA technology. For instance, in August 2022, MiRXES published a new Industry 4.0 manufacturing facility as well as a multi-cancer screening research project that upgrades its research and production capacity. The research institutes sector, academic and government, will greatly expand instead.
MicroRNA Market Key Segmentation:
By Products & Services
- Services
- Type
- Specimen
- Products
- Instruments
- Consumables
By Application
- Cancer
- Infectious Diseases
- Immunological Disorder
- Cardiovascular Disease
- Neurological Disease
- Others
By End Users
- Biotechnology & Pharmaceutical Companies
- Academic & Government Research Institutes
- Others
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Regional Analysis
Leading Region: North America
North America was leading in the microRNA market in 2023 due to research investments in this region and the presence of major biotechnology and pharmaceutical companies. In particular, the U.S. is a leader in this regard, with several companies and research institutes focused on developing miRNA technology. For instance, Thermo Fisher Scientific has recently launched new miRNA analysis tools that are expected to fuel more studies in the region. Strong infrastructure combined with further development helps the region emerge as a leader in the market.
Asia-Pacific to Grow at the Fastest Pace
The Asia-Pacific region will grow at the fastest pace among all markets for microRNAs. All these growth opportunities are further contributed to by rising investments in healthcare research, a soaring number of research collaborations, and an expanding healthcare infrastructure. In September 2024, Chinese company BGI Group launched a new miRNA sequencing service targeted at expediting the research in genomics and personalized medicine in the region. Research and Development in Countries like China and India drives the Asia-Pacific Market.
Recent Developments
June 2024 - Qiagen announced the comprehensive miRNA profiling kit to be used in applications related to cancer research.
February 2024: Bio-Rad Laboratories launched its latest advanced miRNA isolation and quantification system to pursue personalized medicine.
October 2023: Exosome Diagnostics declared a new miRNA-based diagnostic test for early cancer detection.
December 2023: Nanostring Technologies launched a new miRNA expression panel for infectious disease research.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
- Incidence and Prevalence (2023)
- Prescription Trends, (2023), by Region
- Drug Volume: Production and usage volumes of pharmaceuticals.
- Healthcare Spending: Expenditure data by government, insurers, and out-of-pocket by patients.
6. Competitive Landscape
7. MicroRNA Market Segmentation, by Products & Services
8. MicroRNA Market Segmentation, by Application
9. MicroRNA Market Segmentation, by End Users
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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