PUBLISHER: The Business Research Company | PRODUCT CODE: 1513187
PUBLISHER: The Business Research Company | PRODUCT CODE: 1513187
MicroRNAs, small RNA molecules that do not code for proteins and typically span about 20-22 nucleotides in length, serve as regulators of gene expression. They achieve this by binding to complementary sequences on messenger RNA (mRNA) molecules, typically resulting in gene silencing through translational repression or target degradation.
The primary products related to microRNAs include instruments and consumables. MicroRNA instruments encompass the tools and equipment utilized for microRNA analysis, such as microarray scanners and PCR machines. Various assay types involved include immunoassays, next-generation sequencing, miRNA arrays, and PCR-based arrays, applied in cancer, infectious diseases, immunological disorders, cardiovascular diseases, neurological diseases, and other applications. These are employed by academic and research institutes, biopharmaceutical companies, diagnostic centers, and clinical research organizations.
The microRNA market research report is one of a series of new reports from The Business Research Company that provides microRNA market statistics, including microRNA industry global market size, regional shares, competitors with microRNA market share, detailed microRNA market segments, market trends, and opportunities, and any further data you may need to thrive in the microRNA industry. This microRNA market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The microRNA market size has grown rapidly in recent years. It will grow from $1.12 billion in 2023 to $1.33 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The historical growth can be attributed to the discovery of microRNAs, RNA interference (RNAi), genome sequencing projects, computational biology and bioinformatics, and research on extracellular vehicles (EVs).
The microRNA market size is expected to see rapid growth in the next few years. It will grow to $2.63 billion in 2028 at a compound annual growth rate (CAGR) of 18.6%. The anticipated growth in the forecast period can be attributed to clinical translation, regulatory networks and systems biology, microRNA-based therapeutics, therapeutic potential, and biomarker discovery. Significant trends expected in the forecast period encompass technological advances, bioinformatics and data analysis, cross-species conservation, microbiome interactions, and functional mechanisms.
The rising incidence of cancer cases is poised to drive the expansion of the microRNA market in the foreseeable future. Cancer, a multifaceted ailment characterized by uncontrolled cell proliferation, often culminates in the development of malignant tumors that can infiltrate nearby tissues and metastasize to distant organs, posing significant health hazards. The escalating number of cancer cases stems from diverse factors, including aging demographics, lifestyle behaviors such as smoking and unhealthy dietary habits, environmental toxins, and enhanced diagnostic techniques facilitating early detection. MicroRNA, when combined with conventional cancer treatments, augments drug sensitivity and enhances treatment outcomes. Beyond therapy, miRNAs function as diagnostic and prognostic biomarkers, aiding in cancer type identification, prognosis prediction, and treatment response monitoring. For example, in May 2024, as reported by the National Cancer Institute, an estimated 20 million new cancer cases and 9.7 million cancer-related deaths occurred annually in 2022, with projections indicating a rise to 15.3 million deaths and 29.9 million new cases per year by 2040. Consequently, the mounting incidence of cancer cases propels the growth of the microRNA market.
Prominent entities in the microRNA market are directing their efforts towards developing cutting-edge solutions, such as MiRNA probe customization services, to cater to the specific requirements of researchers and clinicians, enhance miRNA detection accuracy, and facilitate diverse applications. MiRNA probe customization services encompass specialized offerings provided by biotechnology and molecular biology firms to design and manufacture tailored probes targeting specific microRNAs (miRNAs) for various research and clinical purposes. For instance, in September 2023, Abnova Corporation, a biotechnology firm based in Taiwan, introduced enhanced services for customizing miRNA probes alongside a new array of cataloged miRNA probes to address the varied needs of academic, industrial, and research communities involved in miRNA studies. These probes play a critical role in identifying and precisely localizing miRNAs, which are small, non-coding RNA molecules essential for numerous biological processes. Abnova's customization services ensure high specificity and minimal cross-reactivity, rendering them suitable for analyzing samples with limited miRNA content.
In May 2021, Nexturn Bio Inc., a South Korea-based miRNA research and development (R&D) company, acquired a 50% stake in RosVivo Therapeutics Inc. for $5.5 million. Through this acquisition, Nexturn Bio Inc. aims to bolster its position as a bio-company by collaborating on the development of novel medication pipelines utilizing miRNA technology. RosVivo Therapeutics, Inc., based in the United States, specializes in the development of microRNA-based therapeutics.
Major companies operating in the MicroRNA market are Thermo Fisher Scientific Inc., Merck KGaA, Agilent Technologies Inc, Kaneka Corporation, Illumina Inc., Bio-Rad Laboratories Inc., QIAGEN N.V., Miltenyi Biotec, LGC Limited, Promega Corporation, Abcam plc, Integrated DNA Technologies Inc., NanoString Technologies Inc., Biodynamics Laboratory Inc., Horizon Discovery Ltd., OriGene Technologies Inc., Biogenex Laboratories, Omega Bio-Tek, New England Biolabs, Quantabio, SeqMatic LLC, GeneCopoeia Inc., HTG Molecular Diagnostics Inc., Synlogic Inc, Sistemic Scotland Limited
North America was the largest region in the microRNA market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the MicroRNA market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the MicroRNA market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The microRNA market consists of revenues earned by entities by providing services such as microRNA sequencing and data analysis services, microRNA therapeutic development services, and microRNA profiling services. The market value includes the value of related goods sold by the service provider or included within the service offering. The microRNA market also includes sales of microRNA extraction kits, microRNA detection kits, microRNA quantification kits, and microRNA expression arrays. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
MicroRNA Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
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The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.