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(Health-NewsWire.Net, September 17, 2021 ) The MicroRNA Market size was estimated at $32.38 billion in 2020, projected to grow at a CAGR of 16.8% during the forecast period 2021-2026. MicroRNA, also known as miRNA, contains 22 nucleotides and it is a type of non-coding ribonucleic acid (RNA) found in animals, plants and some viruses that regulates gene expression as well as RNA silencing. The role of microRNAs in regulating gene expression and their rapid adoption in the production of prognostic and diagnostic tools for various cancer types is driving market growth. The market is also growing due to recent developments in MiRNA applications, high investments in MiRNA, as well as increasing initiatives for the production of new therapeutics and diagnostic tests.
Additionally, the demand for microRNA is being driven by biopharmaceutical companies' growing interest in finding new therapeutic molecules that can serve as new drugs. Several miRNA-based candidates, such as anti-miR compounds and unique inhibitors for miRNAs, are being tested in clinical trials as possible therapeutic solutions. Moreover the demand for microRNA is also growing as a result of technological advancements in field of microarray and next generation sequencing which improves the sensitivity and selectivity of miRNA detection. However, the high costs associated with MicroRNA kits and other products, stringent regulations along with question on their safety and toxicity is predicted to pose a threat to the market's growth during the forecast period 2021-2026.
MicroRNA Market Segment Analysis- By Application
On the basis of application, the market is divided into cancer, infectious diseases, immunological disorder, cardiovascular diseases, neurological diseases and other applications. Cancer segment account for the highest market share in 2020 as it is one of the most common diseases in which mRNA-miRNA interactions play a role. Several microRNA target sites are grouped together in cancer-related genomic regions. Furthermore, tumor suppressor miRNAs are often suppressed in the translation of mRNAs that encode for oncogenes, resulting in tumorigenesis and cancer growth inhibition there by driving the growth of the segment.
However as a result of the increasing cardiovascular conditions in the world, the cardiovascular diseases segment is expected to expand rapidly at a significant CAGR of 17.6% during the forecast period 2021-2026. The advent of new molecular biomarkers for the early detection of cardiovascular diseases further offers a lucrative rate during the forecast period. Because of their tissue-specific expression pattern, secretion into the corresponding body fluids, and stability, microRNAs are desirable targets for CVD therapeutics.
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MicroRNA Market Segment Analysis - By End User
Based on End User, the global microRNA market is segmented into biotechnology & pharmaceutical companies, academic and government research institutes and others. In 2020, the academic and government research institutes segment dominated the microRNA sector. The Dominance of the segment can largely be attributed to supportive government policies aimed at promoting genomics research by academic and research institutes. For instance, to advance the production of its circulating miRNA in Advanced Rectal Cancer (miCRA) project, the UNICANCER Group has partnered with Bordeaux University Hospital. Biotechnology & Pharmaceutical Companies segment account for the fastest market share in 2020 and is projected to grow at a CAGR of 15.9% during the forecast period 2021-2026. The dominance is due to increasingly usage of microRNA for the diagnosis of diseases such as cancer, cardiovascular disease, and infectious disease.
MicroRNA Market Segment Analysis - By Geography
Based on geography, North America dominated the MicroRNA Market with a region share of 39.6% in 2020 followed by Europe and APAC. The higher number of clinical trials to develop novel diagnostic tools and therapeutics along with supportive government policies are the major factor propelling the growth of MicroRNA Market in this region. Moreover, the presence of large number of pharmaceutical and biotech companies that invest heavily on the research along with the easy availability of technologically advanced instruments is predicted to drive the market growth in this region. However, Asia Pacific region is predicted to see the demand maturing in MicroRNA Market owing the rapid advancement in genomic studies, as well as the increasing adoption of micro-RNA in emerging economies such as China, India, and others, which is predicted to create new opportunities for the regional micro-RNA industry.
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MicroRNA Market Drivers
Increasing Number of Clinical Trials
MiRNA's clinical and preclinical research applications are being expanded by ongoing experiments and clinical trials. In almost all human health conditions, an increasing number of studies indicate that miRNAs may be useful as drug resistance modulators, biomarkers for pathogenic conditions, or drugs for medical intervention which is set to propel the market forward during the forecast period 2021-2026.
MicroRNA Market Challenge
High Cost of the Product
Despite the technological advancement and supportive government policy’s, some factors are preventing product acceptance. The high costs associated with MicroRNA kits and services that utilizes advance technology such as Microarray and NGS, stringent regulations and the concerns around the safety and toxicity is predicted to act as a major impediment to the MicroRNA market's growth during the forecast period 2021-2026.
MicroRNA Market Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the MicroRNA Market. Key companies of this market are Merck KGaA, Thermo Fisher Scientific, Inc., Horizon Discovery Ltd., Synlogic, QIAGEN, GeneCopoeia, Inc., New England Biolabs, Quantabio, NanoString, BioGenex, SeqMatic LLC, Miltenyi Biotec, Sistemic Scotland Limited, Biodynamics Laboratory Inc., OriGene Technologies, Inc.
Developments:
In May 2020, DiamiR received U.S. Patent approval for miRNA-based methods that are used for monitoring and detection brain aging.
Key Takeaways
Geographically, the North America region held 39.6% of the total market share in 2020 owing to the higher number of clinical trials to develop novel diagnostic tools and therapeutics.
The role of microRNAs in regulating gene expression and their rapid adoption in the production of prognostic and diagnostic tools for various cancer types are the major driving force for MicroRNA Market during the forecast period 2021-2026.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the MicroRNA Market.
Related Reports :
A. RNA Sequencing Market
https://www.industryarc.com/Research/RNA-Sequencing-Market-Research-502466
B. miRNA Tools and Services Market
https://www.industryarc.com/Research/MiRNA-Tools-And-Services-Market-Research-501994
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