SAN FRANCISCO, July 14, 2021 /PRNewswire/ -- The global miRNA sequencing and assay market size is expected to reach USD 597.8 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.0% from 2021 to 2028. Prominent players, such as Illumina, PerkinElmer, Qiagen, and others offer advanced miRNA sequencing products for multiple clinical applications. Moreover, these companies have collaborated with research institutes to expand the application of miRNA sequencing and assay in research studies.
Key Insights & Findings:
The product segment dominated the market and accounted for the largest revenue share in 2020. The commercial presence of multiple players that offer extensive kits, consumables, and instruments for specialized applications contribute to segment growth
Small and mid-sized research entities face financial limitations to install sequencing equipment owing to their high cost. Therefore, these organizations approach service providers. This is expected to drive the services segment with the fastest CAGR over the forecast period
Sequencing by synthesis holds a major share of the technology segment owing to its high sensitivity, fast turnaround time, and high throughput
Additionally, this technology is playing important role in the detection of mutations in tumor tissue which helps to develop targeted and personalized therapies
The sequencing workflow segment held the largest revenue share in 2020 and is expected to witness the fastest CAGR during the forecast period as it is the most important and crucial step of the workflow
The cancer application segment generated the largest revenue share in 2020 owing to ongoing extensive research in cancer using miRNA as a biomarker to study diagnosis and prognosis of cancer and to develop novel therapies
Furthermore, an increase in the number of cancer patients globally drives segment growth
Research and academic institutions are one of the major revenue generators of the market as miRNA sequencing and assay techniques and associated products are being widely used in various research studies conducted by research and academic institutes
In Asia Pacific, the market is anticipated to register a lucrative growth rate throughout the forecast owing to the presence of a huge target population, growing establishment of healthcare, and high unmet clinical needs
The market holds a significant growth potential owing to the increasing application of miRNA sequencing and assay in the healthcare industry. For instance, several research studies demonstrate that miRNAs can be used as efficient biomarkers in the diagnosis and prognosis of cancer (breast, ovarian, cervical, and others), cardiovascular diseases, sepsis, and nervous system disorders. Therefore, miRNA sequence analysis is increasingly employed to analyze gene regulation in clinical disorders.
As plasma from COVID-19 recovered patients is rich in antiviral miRNAs and antibodies, it has been employed to treat SARS-CoV-2 infected patients. This has led to an increase in research studies that focus on the sequence analysis of miRNAs (microRNA) from the patient as well as the virus.
Grand View Research has segmented the global miRNA sequencing and assay market on the basis of product & service,technology,workflow, application,end useand region:
miRNA Sequencing And Assay Product & Service Outlook (Revenue, USD Million, 2017 - 2028)
Library Preparation Kits
miRNA Sequencing And Assay Technology Outlook (Revenue, USD Million, 2017 - 2028)
Sequencing (Seq.) By Synthesis
Seq. By Oligonucleotide Ligation and Detection (SOLiD)
Single Molecule Real-time (SMRT) Seq.
miRNA Sequencing And Assay Workflow Outlook (Revenue, USD Million, 2017 - 2028)
Data Analysis & Storage
miRNA Sequencing And Assay Application Outlook (Revenue, USD Million, 2017 - 2028)
miRNA Sequencing And Assay End-use Outlook (Revenue, USD Million, 2017 - 2028)
Pharmaceutical & Biotechnology Industry
Research and Academic Institutes
Contract Research Organizations
miRNA Sequencing And Assay Regional Outlook (Revenue, USD Million, 2017 - 2028)
Middle East & Africa
List of Market Players of miRNA Sequencing And Assay Market
microRNA Market– The global microRNA market size was valued at USD 854.6 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 19.8% from 2021 to 2028.
Bioinformatics Market– The global bioinformatics market size was valued at USD 3.51 billion in 2013. Growing demand in the process of novel drug R&D and private and public funding initiatives to support R&D exercises are expected to be the key factors driving the market during the forecast period.
Next Generation Sequencing Market– The global next generation sequencing market size was valued at USD 3.99 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 14.4% during the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.