CHICAGO, March 5, 2019 /PRNewswire/ -- According to the new market research report "miRNA Sequencing and Assay Market by Product (Library Preparation, Consumables), Technology (Sequencing By Synthesis, Nanopore, Ion Semiconductor Sequencing), End User (Research Institute, Academia, CRO), Region - Global Forecast To 2023", published by MarketsandMarkets™, the miRNA Sequencing and Assay Market is projected to reach USD 343 million by 2024 from USD 182 million in 2018, at a CAGR of 11.2%.
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Growth in this market is driven by factors such as the advantages of miRNA sequencing over other technologies, increasing research funding for genomics, and the decreasing cost of sequencing.
Sequencing consumables are projected to hold the largest share of the miRNA Sequencing and Assay Market during the forecast period.
Based on product, the miRNA sequencing & assays market is segmented into library preparation kits and sequencing consumables. Sequencing consumables dominated the market with a larger share in 2018. The large share of this segment can primarily be attributed to the growing demand for consumables and increasing adoption of small RNA sequencing.
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The research and academic institutes end-user segment held the largest share of the market in 2018
Based on end users, the miRNA sequencing & assays market is segmented into academic and research institutes and contract research organizations. In 2018, academic and research institutes accounted for the largest share of the miRNA sequencing & assays market. The large share of this segment can be attributed to the availability of research grants and the increasing focus of market players on providing efficient miRNA sequencing products and services for research applications.
North America dominated the miRNA Sequencing and Assay Market in 2018
North America is estimated to account for the largest share of the market in 2018. Factors such as increasing investments in the development of sequencing, growing research in the fields of genomics and RNA biology, and the rising demand for economical, high-throughput techniques for miRNA analysis are driving the growth of the miRNA sequencing & assays market in this region.
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Major vendors in the Microscope software market include Illumina (US), Thermo Fisher Scientific (US), QIAGEN (Germany), Takara Bio (Japan), and NEB (UK), among others.
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