Asia Pacific miRNA Sequencing and Assay Market

Market Introduction

miRNA is a small noncoding RNA molecule of 20-30 nucleotides and play an important role in gene regulation. miRNA is partially complementary to messenger RNA (mRNA) and its main function is to downregulate gene expression. Since their discovery they have emerged as vital regulators of important cellular functions. miRNAs are associated with pathological processes such as viral infections, autoimmune diseases, and carcinogenesis.

Market Overview and Dynamics

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 market growth in this region is mainly attributed to the widening range of microRNA applications and rise in funding for genomics research. However, challenges related to the delivery, efficacy, and specificity of miRNA-based therapeutics hinder the market growth.

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.

Key Market Segments

The Asia Pacific miRNA sequencing and assay market, by product, is segmented into library preparation and consumables. The consumables segment held a larger share of the market in 2019, whereas the library preparation segment is anticipated to register a higher CAGR in the market during the forecast period.

Based on technology, the Asia Pacific miRNA sequencing and assay market is segmented into sequencing by synthesis, nanopore, and ion semiconductor sequencing. The sequencing by synthesis segment held the largest share of the market in 2019; however, the nanopore segment is expected to register the highest CAGR in the market during 2020–2027.

Based on end user, the Asia Pacific miRNA sequencing and assay market is segmented into research institute, academia, and CROs. The research institute segment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the period.

Major Sources and Companies Listed

Some of the primary and secondary sources associated with this report on the Asia Pacific miRNA sequencing and assay market are the Organization for Economic Cooperation and Development (OECD), Institute for Research in Genetic Engineering and Molecular Biology (INGBEI) and Commonwealth Scientific and Industrial Research Organization (CSIRO).

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Asia Pacific MiRNA Sequencing and Assay Market Segmentation

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

Company Profiles

• Illumina, Inc
• THERMO FISHER SCIENTIFIC INC.
• QIAGEN
• Perkin Elmer, Inc.
• Takara Bio Inc.
• New England Biolabs
• Norgen Biotek Corp
• TriLink BioTechnologies Inc.
• Lexogen GmbH
• Oxford Nanopore Technologies

Asia Pacific miRNA Sequencing and Assay Market Strategic Insights

Asia Pacific miRNA Sequencing and Assay Market Segmentation Analysis

Asia Pacific miRNA Sequencing and Assay Market Report Highlights

Asia Pacific miRNA Sequencing and Assay Report Scope

Asia Pacific miRNA Sequencing and Assay Market Country and Regional Insights