The global miRNA Sequencing and Assay market size was estimated to be US$ 345 million in 2021 and is expected grow at a CAGR of 12.5% between 2023 to 2032.
The dominance of miRNA Sequencing technology relative to other techniques, increased funding for genomics research, and declining sequencing costs all point to future growth for the worldwide miRNA sequencing and assay market.
Using next-generation sequencing techniques, the miRNA sequencing approach is utilized to sequence RNA. Researchers utilize it to look at miRNA isoforms, illness relationships, and tissue-specific expression patterns in addition to looking for uncharacterized miRNAs. This technique has the potential to be a crucial tool in the diagnostic and prognostic fields.
Since next-generation sequencing offers a better signal-to-noise ratio and facilitates efficient sequencing, it is typically favored over microarrays for miRNA sequence analysis. In addition, small RNAs like siRNA, piRNA, and miRNA play a part in the differentiation and growth of cells as well as in the RNA-mediated epigenetic control of cellular processes like gene expression and death.
Finding new miRNAs and other small RNAs is made simpler by short RNA sequence analysis, as is determining whether or not these nucleic acids are expressed differently in various samples. The approach is useful for the analysis of miRNAs without prior knowledge of their secondary structure or sequence, as well as for the single-base resolution identification of variations like isomiRs.
Furthermore, significant investments by important market companies have been prompted by the expanding usage of sequencing analytic techniques. As a result, the market has seen a rapid expansion of a sizable product line. Most of these items represent improvements over biotechnology goods that are already on the market. Competition can now launch and develop products more quickly than new entrants as a result.
The market for miRNA sequencing was positively affected by the COVID-19 pandemic. MiRNAs exhibit early changes at the outset of disease and before the pathogen is detected, and they are crucial in the regulation of the immune response against infectious diseases. For instance, a July 2021 NCBI article claims that measuring miRNA will allow for the 99.9% accurate identification of COVID-19's early stages. These potential uses of miRNA in the COVID-19 virus diagnosis have fueled the market expansion.
Factors driving the market growth
The prevalence of infectious and communicable diseases is predicted to rise, and advances made possible by new technology and the application of novel methods to access the sequence of miRNA are expected to spur market expansion. Shortly, the market expansion is anticipated to be aided by rising cancer incidence rates, increased acceptance of practical sequencing methods, and advancements in genetic research.
MiRNA sequencing and assay market expansion may be aided by an increase in interest in miRNA biomarker discoveries. Additionally, factors like the rise in neurological disease prevalence and the rise in demand for personalized medications are to blame for the market's expansion.
Performance of market segments
The cancer segment dominated the miRNA sequencing and test market with more than 30% revenue share. Dysregulated miRNAs are viewed as a novel class of cancer suppressor genes. During the forecast period, the application sector for polyglutamine diseases is anticipated to have the highest CAGR.
The sequencing by Synthesis (SBS) technology sector held the biggest revenue share and led the market. The sequencing workflow sector retained the subsequent biggest revenue share of the miRNA sequencing & assays market, with majority share.
The product division held the highest revenue share of the market. Several educational institutions are getting proposals, to speed up the research, associated with miRNA sequencing and assay. The pharmaceutical & biotechnology industry sector is anticipated to observe a sizeable CAGR, during the forecast period
With a revenue share of approximately 45.0% in 2021, North America dominated the market thanks to the presence of major companies like PerkinElmer, Inc. and Thermo Fisher Scientific, which have stepped up their R&D for emerging diseases. To increase their product line, businesses operating in this region are developing new products. For instance, in 2020, Illumina, Inc. spent USD 682 million on research and development to improve its current technology and create new sequence analysis technology. These elements are encouraging regional growth even more.
Due to a large number of associations and organizations working to educate young scientists in this region, Asia Pacific is predicted to develop at the quickest rate over the projected period. One such network is APBioNet, which tracks the development of the bioinformatics infrastructure and conducts conferences, workshops, and training sessions in addition to exchanging data and information.
Key market players
The two major market participants are Illumina, Inc. and Thermo Fisher Scientific, Inc. MiRNA sequencing, and assay revenue generation has increased as a result of these companies' expanding product and service portfolios. Additionally, the extensive distribution network of the companies has significantly accelerated growth. Other key players are QIAGEN, Oxford Nanopore Technologies, Takara Bio, PerkinElmer. Inc, Trilink Biotechnologies, Lexogen GmbH,Norgen Biotek Corp,Maravai LifeSciences.
By Product & Service
By Application Outlook
With a share of 45.79% in 2021, North America dominated the market for miRNA sequencing and assays. This is due to the presence of important players like PerkinElmer, Inc., Thermo Fisher Scientific, and others who have stepped up their research and development efforts for novel diseases. Additionally, businesses based in this area are working to diversify their product lines by developing new products.
The two major market participants are Illumina, Inc. and Thermo Fisher Scientific, Inc.
The development of technologically sophisticated sequence analysis, the introduction of new technology, and the introduction of various techniques to evaluate the miRNA sequence are the main factors propelling the market's expansion.
The miRNA sequencing and assays market is anticipated to expand at a CAGR of 12.5% between 2023 to 2032.
The miRNA sequencing and assays market size was estimated to be US$ 345 million in 2021.
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