Dublin, Jan. 19, 2022 (GLOBE NEWSWIRE) -- The "microRNA (miRNA) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global microRNA (miRNA) Market to Reach $485.3 Million by 2026
Amid the COVID-19 crisis, the global market for microRNA (miRNA) estimated at US$225.5 Million in the year 2020, is projected to reach a revised size of US$485.3 Million by 2026, growing at a CAGR of 13.8% over the analysis period.
Products, one of the segments analyzed in the report, is projected to record 12.2% CAGR and reach US$290.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 15.7% CAGR for the next 7-year period.
Key drivers propelling growth in the global microRNA market include greater awareness, increasing emphasis on R&D activities, growth of advanced and well-organized technology, rising government initiatives globally, escalating government investments in healthcare, along with advances in genomic technologies and molecular biology.
The growth of microRNA in oncology can be attributed to the growing burden of cancer as well as other cardiovascular diseases, broader therapeutic applications, lowering the cost of sequencing, and greater acceptance of the technology. Rising microRNA adoption in emerging countries such as India, China, among others will offer new growth opportunities. The growing use of microRNA biomarkers is augmenting growth in the market.
Such biomarkers play a particularly important role in data-driven approaches, genome-wide population-based studies because they show high reproducibility and robustness in comparison to conventional procedures. Furthermore, the growing relevance of liquid biopsies is further driving its popularity in the discovery and development of biomarkers. However, intensified demand for highly skilled personnel and challenges regarding in-house development are major hurdles to growth in the global market.
The U.S. Market is Estimated at $107.8 Million in 2021, While China is Forecast to Reach $50.7 Million by 2026
The microRNA (miRNA) market in the U.S. is estimated at US$107.8 Million in the year 2021. China, the world's second largest economy, is forecast to reach a projected market size of US$50.7 Million by the year 2026 trailing a CAGR of 17.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.1% and 13% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.5% CAGR.
The North American region dominates the global market, owing to technological advances, government support, and excellent medical reimbursement facilities. Ever-increasing clinical trials seeking to develop novel diagnostics and therapeutics, particularly in the US, is another key growth driver. Growth in the Europe market is because of increased funding towards research in countries like Germany to encourage the entry of startups in the molecular diagnostics industry, particularly in microRNA.
The microRNA market in Asia Pacific is likely to gain considerable momentum due to increasing consumer awareness, rapid growth in population, supportive government policies, healthcare infrastructure modernization, and escalating foreign investments in developing nations like India and China in the regional market. The Asia Pacific region will also be driven by advances in proteomics and genomics along with increasing adoption of novel tools that help meet research goals.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- A Prelude to MicroRNA
- Impact of Covid-19 and a Looming Global Recession
- 2020 Marked as a Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
- COVID-19 Impact on mRNA Market
- Global Market Prospects and Outlook
- Global miRNA Market Set to Witness Rapid Growth
- Disease Diagnostics Segment Leads the Market
- MicroRNAs Likely to Be Instrumental in Disease Diagnosis and Treatment
- Polymerase Chain Reaction (PCR) Dominates the Instruments Category
- Academic and Government Research Institutes Holds the Largest Share
- North America Dominates Global miRNA Market, Asia-Pacific to Witness Steady Growth
- Competition
- Increasing Emphasis on R&D by Players to Boost Market Growth
2. FOCUS ON SELECT PLAYERS
- Abcam Plc
- Agilent Technologies, Inc.
- Biodynamics Laboratory Inc.
- BioGenex
- Bio-Rad Laboratories Inc.
- BioVendor - Laboratorni medicina a.s.
- Dharmacon, a Horizon Discovery Group Co.
- F. Hoffmann-La Roche Ltd
- GeneCopoeia, Inc.
- HTG Molecular Diagnostics, Inc.
- Lexogen GmbH
- Meridian Bioscience
- Miltenyi Biotec
- NanoString Technologies, Inc.
- New England Biolabs
- Norgen Biotek Corp
- OriGene Technologies, Inc.
- Promega Corporation
- QIAGEN NV
- Quantabio
- SeqMatic LLC
- Sistemic Scotland Limited
- System Biosciences LLC
- Takara Bio Inc.
- Thermo Fisher Scientific, Inc.
- TriLink BioTechnologies Inc.
3. MARKET TRENDS & DRIVERS
- Increasing Incidence of Infectious Diseases and Chronic Conditions to Help miRNA Market Gallop Ahead
- Increasing Application in Cancer Diagnostics as Biomarkers to Drive Market Growth
- The Future of miRNA-based Cancer Biomarkers
- Consistent Increase in Risks and Threats from Infections Drive Healthy Market Growth
- MicroRNA Biomarkers Hold Promise for Diagnosis of Infectious Diseases
- Focus on Development of miRNA-based Therapeutics Bodes Well for Market Growth
- Increasing Investments in miRNA to Bolster Market Growth
- Diagnostics and Therapeutics Investments
- Standard Methods Utilized to measure miRNA Biomarkers
- Advancements in Detection Methodologies Focus on Enhancing Sensitivity and Selectivity of miRNA Detection
- Increasing Demand for Liquid Biopsies to Drive the MicroRNA Market
- miRNA by Type of Gastrointestinal Cancers
- Circulating miRNAs as Cancer Detectors
- Aging Demographics Add to the Global Burden of Chronic Diseases, Presenting Opportunities for the Market
- Growing Global Healthcare Spending and Supportive Government Initiatives Boost Market Prospects
- miRNA and Next Generation Sequencing
- Market Restraints
- AN INSIGHT INTO MIRNA APPLICATIONS
- CANCER
- Role of miRNA in Cancer Cell
- DNA Repair and Cancer
- HEART DISEASE
- miRNA-712
- Human Homolog - microRNA-205
- KIDNEY DISEASE
- NERVOUS SYSTEM
- Stroke
- ALCOHOLISM
- OBESITY
- HEMOSTASIS
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 64
For more information about this report visit https://www.researchandmarkets.com/r/ev1omd
