The global microRNA (abbreviated miRNA) market size is expected to reach USD 626.27 million by 2025, according to a new report by Grand View Research, Inc., posting a CAGR of 18.6% during the forecast period. A significant role of microRNAs in regulating gene expression. Their rapid adoption in development of diagnostic & prognostic tools for various cancer types is anticipated to provide a fillip to the market.
Recent innovations in miRNA applications such as their use as potential biomarkers in advanced diagnostics have accelerated new product development. Based on existing technologies used in gene analysis such as microarrays, qRT-PCR, and sequencing, new products are being developed for better usage of miRNA. These are designed to overcome challenges faced when working with miRNA.
Investments in development of therapeutics & diagnostic tests based on miRNAs have increased tremendously over past few years. Regulus Therapeutics, Rosetta Genomics, Alnylam Pharmaceuticals, miRagen Therapeutics, and Mirna Therapeutics are some major companies involved in the development of RNA-based therapeutics. These players are involved in strategic partnerships to enhance their capabilities. For instance, in February 2018, STA Pharmaceutical Co., Ltd., a manufacturer of technology platform for small molecule pharmaceutical development signed an agreement with Regulus Therapeutics to provide its manufacturing facility to the company.
Academic & government research organizations are key revenue contributors as large number of microRNA research is carried out in these institutes. However, rising interest of biotech & pharmaceutical companies in miRNAs as biomarkers, especially in cancer screening, is providing a significant push to the market. MiRNA regulating gene expressions in Alzheimer’s diseases, Autism Spectrum Disorders (ASD), Schizophrenia, and Parkinson’s diseases have been identified. Soaring need for easy diagnosis of these diseases is projected to further increase demand for miRNA research tools.
Instruments used in miRNA analysis, especially those based on advanced technology, are expensive. However, processes performed are available at reasonable prices through service providers. MiRNA analysis is a part of genomic analysis; thereby many service providers for the genomics market have extended their service offering to this market as well. Novel approaches for handling targeted delivery of miRNAs are being developed. Nanoparticle-based delivery and miRNA conjugation with other small molecules are few of the potential approaches being studied. Focus on development of approaches to overcome challenges in the delivery of miRNA therapeutics is estimated to propel the market over the forecast period.
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https://www.grandviewresearch.com/industry-analysis/microrna-market
Further Key Findings from the Report Suggest:
- Growing competition among miRNA-based therapeutic companies to develop tests & biomarkers for clinical use is likely to boost the demand for miRNA detection services
- Rapid high-quality results coupled with declining sequencing prices are poised to drive adoption of NGS services for miRNA functional studies.
- North America dominated the microRNA market owing to presence of large scale genetic research programs being conducted by universities in the U.S. and Canada. MiRNA profiling studies in these regions are supported by international public functional genomic data repositories such as Gene Expression Omnibus
- Asia Pacific is projected to witness phenomenal CAGR owing to rapid progress in precision medicine & genomics. Owing to the immense potential in APAC, international players are adopting M&A strategies to consolidate their position in the region
- The market is moderately consolidated and competitive in nature due to presence of several multinational players
- Some key companies present in the market are Thermofisher Scientific (Life Technologies); Agilent Technologies; Merck KGaA; QIAGEN (Exiqon); and NanoString Technologies; Inc. The prominence of these players can be attributed to their well-established technical capabilities in other fields of biotechnology.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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