The MiRNA Sequencing Market size is projected to reach US$ 741.25 million by 2031 from US$ 301.52 million in 2023. The market is expected to register a CAGR of 11.90% in 2023–2031. The technological advancements in various types of sequence analysis platforms, and rising applications of miRNA are driving the market growth of miRNA sequencing assay. miRNA sequence analysis helps in the discovery of non-characterized miRNAs and supports miRNA isoforms examination and the study of disease associations. Hence, these factors are likely to remain key miRNA Sequencing market trends.
miRNAs are critical in identifying the progression, development, prognosis, diagnosis, and treatment response of cancer patients. Few miRNAs function as tumor suppressors, while others act as oncogenes. According to an article published in Advanced Pharmaceutical Bulletin in July 2023, miRNA acts as a target for cancer diagnosis. The assay has been identified as a potential prognostic factor in head and neck squamous cell carcinomas (HNSCCs) through miRNA profiling. Furthermore, miRNAs have also shown application in forensic medicine due to their features such as stability and specificity capabilities. Hence, the rising adoption of miRNA sequencing assay is boosting the overall market growth.
North America is the largest market for miRNA Sequencing market growth with the US holding the largest market share followed by Canada. Asia Pacific registered the fastest growth. The growth in North America is characterized by the increasing application of miRNA sequencing assay for the diagnosis of several life-threatening diseases in North America. Furthermore, the rising demand for personalized medicine and escalating chronic and acute diseases as, miRNA act as a biomarker for such diseases, hence these factors are anticipated to augment the market growth of the North American miRNA sequencing market.
miRNAs plays an important role in the healthcare industry as miRNAs in circulation are considered promising biomarkers for the diagnosis of diseases, as well as in the prognosis. Moreover, the translation of miRNA-based therapy from a research setting to clinical application holds huge potential, which is acting as a driving factor for market growth. miRNAs can be efficiently utilized as biomarkers in diagnosing and prognosis cancers (ovarian, cervical, and breast), sepsis, cardiac diseases, and nervous system conditions.
Furthermore, miRNA assay also helps in the immune response regulation against infectious diseases, showing early changes at the onset of disease and before the pathogen detection. For instance, according to an article published in NCBI, in July 2021, COVID-19 and its early-stage diagnosis was identified with 99.9% accuracy by measuring miRNA (miR-195-5p, miR-23a-3p, and miR-423-5p). These potential applications of miRNA in diagnosing the COVID-19 virus are further propelling the market growth.
Extensive research related to miRNA assay has contributed to the market growth. For instance, researchers from the Université de Lyon developed BrumiR, an algorithm that can determine miRNAs and directly from sRNA-seq data. Additionally, Several academic institutes are taking the initiative to accelerate research related to miRNA sequencing and assay. For instance, the University of Manchester researchers created a database of miRNAs that have become an important resource in academia and the biotechnology industry. Such research activities pertaining to miRNA sequencing assay are boosting the market growth.
Key segments that contributed to the derivation of the MiRNA Sequencing Market analysis are product and services, type, technology, and end users.
The geographic scope of the MiRNA Sequencing Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the MiRNA Sequencing Market. The market growth can be attributed to the rising adoption of miRNA sequencing assay in research studies by using miRNA as a biomarker for diseases such as cancer. Additionally, the rising prevalence of chronic diseases is a major factor in market growth. For instance, researchers from the University of Illinois at Urbana created a novel miRNA point-of-care testing for cancer diagnosis in February 2022. Similarly, according to the study published in Biosensors (Basel) in July 2023, with advantages of miRNA such as sensitivity, efficiency, cost-saving, and ease to operate, point-of-care testing (POCT) is being used widely in the detection of miRNA.
Furthermore, the presence of key market players such as Thermo Fisher Scientific, and Illumina, Inc. who are involved in increasing R&D activities for novel diseases is another contributing factor to market growth. For instance, in 2020, Illumina, Inc. invested USD 682 million in R&D to advance its sequencing technology and develop new sequence analysis technology, thereby fueling the overall market growth of North America's miRNA sequencing assay.
The regional trends and factors influencing the MiRNA Sequencing Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses MiRNA Sequencing Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 301.52 Million |
| Market Size by 2031 | US$ 741.25 Million |
| Global CAGR (2023 - 2031) | 11.90% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Product
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The MiRNA Sequencing Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the MiRNA Sequencing Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The MiRNA Sequencing Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the MiRNA Sequencing market:
The “MiRNA Sequencing Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: