Global miRNA Tools and Services Market - 2022-2029

Global miRNA Tools and Services Market - 2022-2029

Market Overview

The global miRNA tools and services market size was valued at US$ XX million in 2021 and is estimated to reach US$ XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

MicroRNAs are non-coding RNA that play an important function in gene expression regulation. These chemicals act at the post-transcriptional level, influencing the expression of approximately 30% of all mammalian protein-encoding genes. The rise in cancer and cardiovascular disorders is likely to drive considerable growth in the market. Furthermore, the usage of bioinformatics and technologically advanced systems (such as NGS) is expected to fuel market expansion, and the potential of miRNAs to act as diagnostic biomarkers is expected to contribute to global demand for miRNA.

Market Dynamics

The rise in cancer and cardiovascular disorders is likely to drive considerable growth in the market. Globally increasing research and development activity to create various diagnostic tests is also driving market demand.

Increasing Technological developments will drive the market growth

Technological developments are a new trend in Micro RNA research, resulting in significant progress in miRNA technology. In recent years, manufacturers and researchers have been inspired to develop new solutions due to increased technological improvements in the essential phases of miRNA expression profiling, target gene identification, and validation. HTG Molecular Diagnostics Inc, for example, launched a comprehensive panel for miRNA expression analysis, the HTG EdgeSeq mouse miRNA whole transcriptome test, in August 2018, for use in preclinical functional investigations and translational medicine.

Furthermore, continuing research and clinical trials for miRNA broaden its clinical and preclinical research uses. A rising body of evidence suggests that miRNAs have great utility as drug resistance modulators, biomarkers for pathogenic diseases, or medicines for medical intervention in human health disorders. As a result, increasing the number of clinical trials for evaluating the efficacy of miRNA in the treatment of many chronic illnesses is one of the significant factors fueling the growth of the miRNA market throughout the forecast period. According to the Future Medicine Journal, a medicinal study was undertaken in May 2016 for the clinical development of TargomiRs, a miRNA mimic-based treatment for patients with recurrent thoracic cancer. These factors are likely to boost the miRNA Tools and Services market.

Safety and Toxicity issues of miRNA is likely to hamper the market growth

Several clinical uses have been linked to the benefits of miRNA. It is used to treat chronic conditions such as cancer, cardiovascular problems, and renal disease. However, their safety and toxicity remain a source of contention. As a result, several businesses have suspended clinical trials to develop innovative miRNA-based therapeutics. For example, Mirna Therapeutics Inc, a clinical-stage pharmaceutical company, said in September 2016 that it would discontinue the ongoing Phase 1 research of MRX34, their explored medication for several cancers. Due to many immune-related serious adverse events documented in patients given MRX34 throughout the trial.

COVID-19 Impact Analysis

The COVID-19 pandemic has influenced the miRNA industry in 2020. The novel coronavirus was previously thought to be predominantly a respiratory illness, but as more individuals got the virus, it developed a wide range of physiological characteristics. COVID-19's influence extends well beyond the lungs, affecting the cardiovascular system and causing difficulties in people with renal diseases. As the number of Covid-19 cases increases worldwide, so does the danger of functional renal failure in critically ill COViD-19 patients. A study published in PLOS Medicine, for example, found that a high prevalence of acute kidney injury in COVID-19 patients was related to 3-fold higher risk of death than COVID-19 should AKI. These findings suggest that patients with COVID-19 should be watched for AKI development, and preventive measures should be implemented. Furthermore, research shows that cc-miRNAs can be employed as therapeutic agents for COVID-19, SARS-CoV, and MERS-CoV infections.

Segment Analysis

The kits and reagents segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

In 2020, the kits and reagents category had the most market share. The high share is primarily due to an increase in product launches during the last few years. For example, in August 2019, HTG Molecular Diagnostics Inc, a provider of molecular profiling instruments, research tools, reagents, and services, announced the pre-launch release of the new HTG Edge Seq Mouse miRNA Whole Transcriptome Assay (WTA).

Furthermore, Cancer is Canada's biggest cause of death, accounting for over 30% of all deaths. According to GLOBOCAN estimates, around 196,737 new cancer cases were identified in Mexico in 2015. This figure is predicted to rise to 246,802 by 2025. Furthermore, cancer is responsible for approximately one out of every four deaths in the United States, according to the American Cancer Society (ACS). According to GLOBOCAN, there were roughly 1,604 new instances of cancer per 100,000 people in 2012. Men have a 5.9 percent higher total age-standardized cancer incidence rate than women, with 825 and 779 per 100,000, respectively, for the same year. As a result, there is an urgent demand for cancer detection and diagnosis technology, which is likely to increase the market for miRNA.

Geographical Analysis

Asia-Pacific region holds the largest market share of the global miRNA Tools and Services market

Asia-Pacific has a significant market potential because of the rising prevalence of chronic diseases and the increased number of studies being conducted to investigate the function of microRNAs in the development, treatment, and diagnosis of diseases such as cancer. For example, in May 2015, researchers from the Agency for Science, Technology, and Research (A*STAR) Bioprocessing Technology Institute and the National University of Singapore created a non-invasive cancer diagnosis algorithm and miRNA detection technology. The test includes detecting microRNAs (which signal the existence of malignancies) in a few drops of blood, making them an ideal disease biomarker. As a result, the aforementioned variables are projected to boost the region's need for miRNA.

Furthermore, various organizations' research funding for miRNA research has led to market expansion. For example, on January 12, 2017, the Damon Runyon Cancer Research Foundation (U.S.) awarded 16 scientists fellowships to encourage translational cancer research. Kurt J. Warnhoff, one of the award recipients, is researching to investigate new genes and pathways that, in turn, modify miRNA synthesis, resulting in cancer development. Similarly, Firefly BioWorks provided $120,000 in research funding to scientists in April 2013 to help them expand their work on twelve different miRNA projects.

Competitive Landscape

The miRNA Tools and Services market is a moderately competitive presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include QIAGEN, Thermo Fisher Scientific Inc, Illumina Inc, Agilent Technologies, Gene Copoeia, Promega Corporation, Bio-Rad Laboratories Inc, New England Biolabs, NanoString Technologies Inc, HTC Molecular Diagostics Inc ,among others.

The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the miRNA Tools and Services market globally. For instance, In November 2019, Novartis announced the acquisition of The Medicines Company, which will help the company to continue expanding its pipeline depth in critical therapeutic areas. It would include a potentially first-in-class siRNA and miRNA inhibitor with the potential to fundamentally transform the treatment of high-risk individuals with elevated low-density lipoprotein cholesterol (LDL-C).

Promega Corporation

Overview:

Promega Corporation is a Madison, Wisconsin-based developer of enzymes and other biotechnology and molecular biology products with a portfolio that includes genomics, protein analysis and expression, cellular analysis, drug development, and genetic identity.

Product Portfolio:

Maxwell RSC miRNA: RNA of high quality that can be amplified from mammalian tissue, plasma, serum, or concentrated exosomes. Simple, risk-free RNA extraction without the use of organic chemicals.In a single run, automated RNA extraction of 1–48 samples

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