The consumables segment by product is estimated to lead the market growth during the forecast period.

According to a new market research study of “Asia Pacific miRNA Sequencing and Assay Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product, Technology, End User and Country.” The Asia Pacific miRNA sequencing and assay market is expected to reach US$ 104.82 million by 2027 from US$ 40.65 million in 2019; it is estimated to grow at a CAGR of 12.7% from 2020 to 2027. The report highlights trends prevailing in the Asia Pacific miRNA sequencing and assay market and the factors driving market along with those that act as hindrances.

The Asia Pacific miRNA sequencing and assay market, by product, is segmented into library preparation, and consumables. The consumables segment held the largest share of the market in 2019, whereas the library preparation segment is anticipated to register the highest CAGR in the market during the forecast period. MicroRNAs (miRNAs) being involved in the process of differentiation, they act as markers in cell type identification. miRNAs are associated with pathological processes such as viral infections, autoimmune diseases, and carcinogenesis. Thus, extensive research is being conducted to identify new miRNAs. Furthermore, new discoveries regarding the role of miRNAs in disease development have made them a key target of novel therapeutic approaches. Several miRNA-targeted therapeutics against the diseases such as cancer and hepatitis have reached the clinical phase. For instance, Santaris Pharma has developed a therapeutic molecule named Miravirsen that targets miR-122 for the treatment of hepatitis C virus (HCV) infection; the molecule is in the Phase II clinical trial. Therefore, rise in funding of genomic research to identify new molecules to diagnose and treat diseases, and consequent expansion of the range of applications of miRNAs are driving the growth of the miRNA sequencing and assay market in Asia Pacific.

The COVID-19 pandemic is severely affecting the countries in Asia Pacific. Disruptions in supply chains due to restrictions imposed by various countries on the transportation of goods and humans, along with the enormous demand for effective therapies for the treatment of COVID-19, have put healthcare research industry in critical situation in this region. Further, with the rise in awareness regarding the importance of miRNA sequencing and assay in COVID-19 diagnosis is propelling the demand for miRNA sequencing and assay products. Various international market players are working on the expansion of their businesses in Asia Pacific to leverage significant business potential exhibited by this region. For instance, MiRXES, Singapore, has expanded its business in Asia Pacific by establishing new subsidiary in Japan. Hence, the ongoing pandemic is contributing to the Asia Pacific miRNA sequencing and assay market growth.

The growth of the market is attributed to some key driving factors such as widening range of microRNA applications and rise in funding for genomics research. However, the challenges related to delivery, efficacy, and specificity of miRNA-based therapeutics hinder the market growth.

Illumina, Inc, THERMO FISHER SCIENTIFIC INC., QIAGEN, Perkin Elmer, Inc., Takara Bio Inc., New England Biolabs, Norgen Biotek Corp, TriLink BioTechnologies Inc., Lexogen GmbH, and Oxford Nanopore Technologies are among the leading companies operating in the Asia Pacific miRNA sequencing and assay market.

The report Asia Pacific miRNA Sequencing and Assay Market as follows:

By Product

• Library Preparation
• Consumables

By Technology

• Sequencing by Synthesis
• Nanopore
• Ion Semiconductor Sequencing

By End User

• Research Institute
• Academia
• CRO

By Country

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific