miRNA Sequencing and Assay Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

miRNA Sequencing and Assay Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The miRNA Sequencing and Assay Market is expected to register a CAGR of 10.9% during the forecast period.

The COVID-19 pandemic affected healthcare systems globally and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients with cancer to significant risks. In addition to vaccinations against SARS-CoV-2 infection that have been approved, miRNAs are found to be a potential alternative for combating this new virus. The expression of these miRNAs, on the other hand, is useful in detecting SARS-CoV-2 infection. According to the National Center for Biotechnology Information, 2021, titled “The role of miRNAs in COVID-19 diseases”, various miRNAs bind to the SARS-CoV-2 genome and limit its post-transcriptional expression, reducing the severity of COVID-19 disease. In addition, among all miRNAs, miR-21-3p is found to have the best binding to the human coronavirus genome. Due to the increasing COVID-19 infection, the demand for effective treatment is increasing, which increases the demand for next-generation sequencing technologies and miRNA sequencing. According to an article published by the National Center for Biotechnology Information, 2020, titled “A new approach for COVID-19 treatment by micro-RNA”, it has been found that miRNAs perform critical functions during virus infection, reducing the burden on healthcare systems during a pandemic. Hence, it is observed that COVID-19 had a significant positive impact on the market studied.

Additionally, in cancer patients, miRNAs are critical in assessing the development, progression, prognosis, diagnosis, and treatment response. Some miRNAs are tumor suppressor miRNAs, while others are oncogenes (oncomiRs). For instance, MiR-451 was identified to be a potential prognostic factor in head and neck squamous cell carcinomas (HNSCCs) after miRNA profiling. The clusters of miR-375 and miR-106b-25 are implicated in the development and progression of head and neck squamous cell carcinomas. miRNAs sparked a lot of interest in forensic medicine in recent years due to their stability and specificity. These are promising indicators in forensic practice due to their small size, and they are especially useful for degraded samples or complex mixes. They have been studied as possible biomarkers and signatures in a variety of diseases, including cancer, cardiovascular disease, muscle disease, and diabetes.

Hence, owing to the above-mentioned factors, the market studied is expected to witness strong growth over the forecast period. However, paucity of expert and need for computing infrastructure is expected to hinder the market growth.

Key Market TrendsLibrary Preparation Kits are Expected to Hold the Largest Market Share in the miRNA Sequencing and Assay Market

The capacity of library preparation kits to shorten the RNA fragmentation process and an increase in research activities relevant to complicated life sciences processes are two main reasons driving the library preparation kits segment. The increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, etc., and rare diseases are increasing the demand for effective treatment options and are propelling the growth of the miRNA market. Moreover, the advancement and adoption of next-generation sequencing methods and their applications in various fields are further boosting the miRNA sequencing market in the forecast period.

For instance, Qiagen’s QIAseq miRNA Library Kit includes gel-free miRNA sequencing library prep from 1 ng of total RNA. It eliminates adapter dimers and undesired RNA species for the greatest fidelity and most effective data, incorporates Unique Molecular Indices (UMIs) for quantitative measurement of individual miRNA molecules, and connects directly to the RNA-seq analysis portal for human, mouse, and rat samples. Hence, with the presence of such advanced kits available in the market, the segment is believed to witness strong growth over the forecast period.

According to the American Cancer Society, an estimated 36,000 new cancer cases occurred in Wisconsin in 2021. According to Rare Disease day, rare diseases are estimated to affect nearly 3.5% - 5.9% of the global population in 2020, with over 300 million people living with one or more of over 6,000 identified rare diseases worldwide. With the rising cancer cases, the use of library preparation kits is increasing which is propelling the segment growth.

North America Dominates the Market and Expected to do Same in the Forecast Period

The market for miRNA sequencing and assay in the North American region is expected to grow significantly during the forecast period owing to the factors such as increasing incidences of cancer, rising demand for next-generation and miRNA sequencing services and applications in drug development, and adoption of the latest technology established for miRNA sequencing.

Moreover, the presence of key players, such as Illumina Inc., Thermo Fisher Scientific, etc., and an increase in research and development spending by companies to develop innovative and advanced products in the United States are expected to drive regional growth. According to GLOBOCAN 2020 statistics, 2,281,658 new cancer cases were diagnosed in the United States in 2020, with 612,390 fatalities. This indicates that the incidence and mortality rate associated with cancer is significantly high, increasing the demand for precision medicines and treatments for patients, subsequently increasing the demand for miRNA sequencing and assay techniques, driving the market.

In February 2022, the researchers at the University of Illinois Urbana developed a new miRNA point-of-care test for cancer detection. The test uses nanoparticles to capture tumor-specific microRNAs (miRNAs) in human serum. Similarly, in March 2021, DiamiR agreed to acquire CLIA (Clinical Laboratory Improvement Amendments) certified laboratory in New Haven, Connecticut, from Interpace Biosciences. This will enhance DiamiR’s capabilities to develop and commercialize its microRNA-based tests for early detection, differential diagnosis, prediction of progression, and monitoring of brain health and other conditions.

Hence, owing to the above-mentioned factors, the market studied is believed to grow significantly in the North American region.

Competitive Landscape

The miRNA sequencing and assay market is moderately competitive and consists of a few major players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions with the other companies and launching new products to consolidate their market positions across the globe. Some of the companies which are currently dominating the market are Illumina, Inc., Thermo Fisher Scientific, Qiagen N.V., Perkinelmer, Inc., and Takara Bio, Inc.

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