MiRNA Sequencing Market Forecast and Size 2031

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.

MiRNA Sequencing Market Analysis

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.

MiRNA Sequencing Market Overview

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.

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MiRNA Sequencing Market: Strategic Insights

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MiRNA Sequencing Assay Market Drivers and Opportunities

Increasing Adoption of miRNA Sequencing Assay in Disease Diagnosis Favors the 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.

Ongoing Extensive Research on miRNA Sequencing Assay– An Opportunity in the MiRNA Sequencing Market

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.

MiRNA Sequencing Market Report Segmentation Analysis

Key segments that contributed to the derivation of the MiRNA Sequencing Market analysis are product and services, type, technology, and end users.

• Based on Products and Services, the MiRNA Sequencing market is segmented into library preparation and consumables. The consumables held the largest share of the market in 2023.
• By Technology, the 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 2023. However, the nanopore segment is expected to register the highest CAGR over the forecast period.
• By End User, the market is segmented into Research Institute, Academia, and CROs. The research institute segment held the largest share of the market in 2023.

MiRNA Sequencing Market Share Analysis by Geography

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.

MiRNA Sequencing Market Regional Insights

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.

MiRNA Sequencing Market Report Scope

MiRNA Sequencing Market Players Density: Understanding Its Impact on Business Dynamics

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:

1. Illumina, Inc.
2. Thermo Fisher Scientific, Inc.
3. Takara Bio
4. New England Biolabs
5. Norgen Biotek Corp
6. Lexogen GmbH

Disclaimer: The companies listed above are not ranked in any particular order.

MiRNA Sequencing Market News and Recent Developments

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:

• HTC Molecular Diagnostics Inc. unveiled new features of its proprietary HTG EdgeSeq technology. The company has improved its technology, and now its new sample preparation harmonization enables miRNA and mRNA profiling without the need for additional samples. Source: https://www.mordorintelligence.com/industry-reports/mirna-sequencing-and-assay-market. (Source: HTC Molecular Diagnostics, Press Release/Company Website/Newsletter, April 2022)
• Allogene Therapeutics collaborated with Antion Biosciences to advance multiplex gene silencing for the development of next-generation allogeneic CAR T products. As part of the collaboration, Antion's miRNA technology (miCAR) will be used as an additional tool to enhance the efficacy and safety of allogeneic CAR T therapies. (Source: Biocartis, Press Release/Company Website/Newsletter, Jan 2022)
• Lexogen, a pioneer in the field of genomics and transcriptomics, is proud to introduce the groundbreaking LUTHOR High-Definition Single Cell 3’ mRNA-Seq Kit, a game-changing innovation that sets new standards in single-cell RNA sequencing. (Source: Lexogen, Press Release/Company Website/Newsletter, Jan 2022)

MiRNA Sequencing Market Report Coverage and Deliverables

The “MiRNA Sequencing Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Market dynamics such as drivers, restraints, and key opportunities
• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
• Detailed company profiles