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

According to a new market research study of “North America miRNA Sequencing and Assay Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product, Technology, End User and Country.” The North America miRNA sequencing and assay market is expected to reach US$ 183.47 million by 2027 from US$ 74.40 million in 2019; it is estimated to grow at a CAGR of 12.1% from 2020 to 2027. The report highlights trends prevailing in the North America miRNA sequencing and assay market and the factors driving market along with those that act as hindrances.

The North America 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) are noncoding RNAs that are partially complementary to messenger RNA (mRNA). They are known to downregulate the expression, which makes them vital regulators of important cellular functions. 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 North America.

In North America, the US was profoundly affected by the COVID-19 pandemic. Various healthcare research centers across North America have primarily undertaken the research related to COVID-19 therapeutics. In addition to therapeutics, scientists are actively working on the prevention of COVID-19 through vaccine development. Moreover, lockdown and supply chain disruptions have lowered the demand for miRNA sequencing and assay products due to change in customer behaviours.

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 North America miRNA sequencing and assay market.

The report North America 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

• US
• Canada
• Mexico