MicroRNA Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

MicroRNA Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of MicroRNA Market

The microRNA market size was valued at USD 215.4 million in 2019, and the market is now projected to grow to from USD 254.8 million in 2020 USD 613.2 million by 2027, exhibiting a CAGR of 13.4% during the forecast period of 2020-2027.

COVID-19 impact on the miRNA market is synergistic with the corresponding upturn in the same and the subsequent years in the year 2020. Initially, people realized COVID-19 was only a respiratory disease but as many individuals got infected with the virus, the disease impacted physiologically every person. It does not only affect the lungs but also the heart and kidney and has effects on patients with renal diseases. This boosted the microRNA market growth.

Current and future researches and clinical trials on miRNA increases its clinical and preclinical uses. A rapidly increasing number of publications indicate that miRNAs may play important roles in the regulation of multidrug resistance, as markers of specific pathologic states, or as active agents to be used in treatment of various diseases affecting humans. Therefore, expanding the clinical trial for assessing the effectiveness of miRNA in managing several chronic diseases is one of the major factors contributing to the higher growth of the microRNA market share throughout the forecast period.

Technological developments are now seen as a growing theme in the study of MicroRNA and therefore significant developments in the field of miRNA technologies. Recent technologically improvements in the crucial stages of miRNA expression profiling, target gene determination, as well as validation have prompted manufacturers and researches to launch novel solutions over the last couple of years.

Comprehensive Analysis of MicroRNA Market

The microRNA market is responding quite an unprecedented rate of growth because of its market segmentation. This indicators growth in different regions by substituting the major forces of supply and demand which define the shape of local pharmacy benefit management market. Therefore, they are logically divided into 3 Segments, By Product Analysis, By Application Analysis and By End-User Analysis. With reference to product type, the global MicroRNA market is segmented into instruments and kits and reagents. Of them, the instrument segment is expected to foresee the highest growth rate throughout the forecast period. This has brought high growth because, there is increased research trials globally to establish the role of miRNA in different diseases. While talking about application, disease diagnostics was found more dominant in the market share of 2019. The high share of the segment is therefore can be attributed to the increasing occurrence of various diseases and ailment all over the world. Of the two segments, the molecular diagnostic one is more in demand due to rising incidences of chronic diseases, thus propelling the growth of the segment in demand. From the end-user perspective, healthcare facilities segment dominated the global market in 2019. This dominance can be attributable mainly to rising tendencies in the manufacturers’ collaboration with the hospital facilities worldwide.

The market in North America stood at USD 97.4 million in 2019. The strategic rise in the clinical trials to develop new therapeutic agents and diagnostic methods, especially in United States is acknowledged to be a major growth driving factor. Additionally, the rising frequency of extended product launches in the identified areas will augment the growth of the microRNA market on the global level.

QIAGEN N.V. (Germany), Thermo Fisher Scientific (U.S.), BioVendor (Czech Republic), Takara Bio Inc. (Japan), Merck KGaA (Germany), NanoString Technologies, Inc. (U.S.), Heim Biotek (South Korea), GeneCopoeia, Inc. (U.S.), Takara Bio Inc. (Japan) are significant players in the Pharmaceutical market. They are the key player that ensures the industry's success while still having to keep pace with their innovation in product and services. They offer a competitive zone that incites the growth of technologies and quality assurance. They operate on a global scale and have a wide range of product lines ensuring that the market players compete on a fair playing field bringing in innovations that result in the market's evolution.

In November 2019, Novartis has informed that company is to acquire The Medicines Company for 9.7 million US dollars. With the acquisition of The Medicines Company, Novartis faces an opportunity of deepening the pipeline in such therapeutics. It would bring in a new molecule, a so-called siRNA and miRNA inhibitor that could possibly revolutionize the treatment of high risk patients with elevated LDL-C.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2016-2027

Base Year 2019

Forecast Period 2020-2027

Historical Period 2016-2018

Unit Value (USD million)

Segmentation By Product

Instruments

Kits & Reagents

By Application

Isolation & Purification

Detection & Quantification

Disease Diagnostics

Others

By End-User

Pharma & Biotech Companies

Academic & Research Institutes

Healthcare Facilities

Others

By Geography

North America (By Product, By Application, By End User, and by Country)

Europe (By Product, By Application, By End User, and by Country)

Asia-Pacific (By Product, By Application, By End User, and by Country)

Rest of the World (By Product, By Application, By End User)Please Note: It will take 5-6 business days to complete the report upon order confirmation.