Europe miRNA Sequencing and Assay Market to Grow at a CAGR of 11.3% to reach US$ 144.87 Mn Million from 2019 to 2027

The Europe miRNA sequencing and assay market is expected to reach US$ 144.87 million by 2027 from US$ 62.30 million in 2019; it is estimated to grow at a CAGR of 11.3% from 2020 to 2027.

The widening application range of microRNAs and rise in funding for genomics research. However, challenges associated with 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 Europe.

The COVID-19 pandemic has been having some serious effects on European countries. The miRNA sequencing and assay market in the region witnessed shortfall at the beginning of the pandemic crisis due to disruptions in supply chain and lowered demands due to lockdown imposed by many European countries. However, later, the demand for the miRNA sequencing and assay products increased drastically with supportive government initiatives. Many private research organizations have expanded their research teams and projects to accelerate studies related to SARS-CoV-2. For instance, QIAGEN, Germany, a pioneer in next-generation sequencing (NGS), has expanded its integrated coronavirus next-generation sequencing platforms and software solutions to accelerate COVID-19 research. Hence, the COVID-19 pandemic has been supporting the Europe miRNA sequencing and assay market growth.

Europe 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

• UK
• Germany
• France
• Italy
• Spain
• Rest of Europe

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

Europe miRNA Sequencing and Assay Report Scope