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 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 growth of the market is primarily attributed to the factors such as widening range of microRNA applications and rise in funding for genomics research. However, challenges regarding the delivery, efficacy, and specificity of miRNA-based therapeutics hinder the market growth.
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.
Key Market Segments
The North America 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 North America 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 North America 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
A few of the primary and secondary sources associated with this report on the North America miRNA Sequencing and Assay Market are the Centers for Disease Control and Prevention (CDC), Pharmaceutical Research and Manufacturing Association (PhRMA) and The Food and Drug Administration (FDA).
Reasons to buy the report
North America MiRNA Sequencing and Assay Market Segmentation
By Product
By Technology
By End User
By Country
Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 74.40 Million |
| Market Size by 2027 | US$ 183.47 Million |
| CAGR (2020 - 2027) | 12.1% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America miRNA Sequencing and Assay Market is valued at US$ 74.40 Million in 2019, it is projected to reach US$ 183.47 Million by 2027.
As per our report North America miRNA Sequencing and Assay Market, the market size is valued at US$ 74.40 Million in 2019, projecting it to reach US$ 183.47 Million by 2027. This translates to a CAGR of approximately 12.1% during the forecast period.
The North America miRNA Sequencing and Assay Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America miRNA Sequencing and Assay Market report:
The North America miRNA Sequencing and Assay Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America miRNA Sequencing and Assay Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America miRNA Sequencing and Assay Market value chain can benefit from the information contained in a comprehensive market report.
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