MicroRNA Market

Global MicroRNA Market Size (2023 to 2028)

The global microRNA market is forecasted to grow at a CAGR of 20.12% between 2023 to 2028 and the market size is predicted to be worth USD 3.36 billion by 2028 from USD 1.34 billion in 2023.

Global MicroRNA Market Share Insights:

• Based on product, the consumables segment held 60.12% of the global market share in 2022.
• Based on services, the profiling, localization and quantification services segment accounted for 36.8% of the global market share in 2022.
• Based on application, the cancer segment captured a share of 34.9% of the global market in 2022.
• Based on end-use, the academic and government research institutes segment had 51.8% of the global market share in 2022.
• Based on region, North America held a share of 44.7% of the global market share in 2022.

MARKET DRIVERS:

The growing use of MicroRNA as a biomarker is one of the major factors propelling the MicroRNA market growth. These biomarkers are essential for genome-wide population studies and data-driven methods due to their superior robustness and reproducibility in comparison to conventional procedures. Consequently, these molecules are promising candidates for the development of biomarkers. In addition, the importance of liquid biopsies in the discovery and development of biomarkers has increased as their popularity has increased.

The growing number of R&D activities to explore the potential of microRNA biomarkers further boost the market’s growth rate. Soon, a surge in research into the potential of MicroRNA biomarkers in prognosis, diagnosis, and therapeutics is anticipated to stimulate market growth. In January 2020, for instance, researchers used next-generation sequencing to investigate the viability of MicroRNA found in peripheral blood as a diagnostic biomarker for Bipolar II disorder (BD-II). MicroRNA s could serve as a non-invasive diagnostic tool for other neurodegenerative diseases.

Technological innovations further propel the growth rate of the MicroRNA market. Increasing the sensitivity and selectivity of microRNA detection through technological innovation contributes to the growth of the microRNA market. Nanoparticle-based amplification, RCA-based, DSN-based, LAMP-based, and enzyme-free amplification are among the newly developed techniques for microRNA detection. Similarly, in January 2020, scientists developed a program-based isothermal amplification technique for precise and quantitative digital measurement of MicroRNA. The system can reduce contamination because it is based on signal amplification as opposed to direct replication of the targeted sequence, as with PCR-based methods.

MARKET RESTRAINTS:

The high costs associated with microRNAs majorly hamper the market growth. MicroRNAs have been discovered to be expensive, necessitating investment in microRNA science and other practices. Aside from that, microRNAs are a new technology, with several pieces already folded. The shortage of skilled professionals further hinders the market’s growth rate.

Impact of COVID-19 on the global microRNA market:

The global impact of the COVID-19 pandemic on healthcare systems has been significant, leading to the disruption of regular care in many facilities. This has left vulnerable cancer patients exposed to considerable risks. MicroRNAs have been identified as a promising alternative to currently accepted vaccinations for battling the recently discovered SARS-CoV-2 virus. The detection of SARS-CoV-2 infection can be facilitated through the expression analysis of these microRNAs. As per the latest research report by the National Centre for Biotechnology Information in 2021, titled "The Role of MicroRNAs in COVID-19 Diseases," it has been found that several MicroRNA s effectively bind to the SARS-CoV-2 genome and restrict its post-transcriptional expression, thereby mitigating the severity of COVID-19 disease. Out of all MicroRNA s, miR-21-3p exhibits the strongest binding affinity to the human coronavirus genome. As a result of the surging COVID-19 infection rates, there is a growing need for efficacious treatment options, thereby driving up the demand for cutting-edge next-generation sequencing technologies and microRNA sequencing.

MicroRNAs play a crucial role in virus infection and can aid in alleviating the strain on healthcare systems during a pandemic. However, the pandemic has caused significant disruptions to the global supply chain, thereby impacting the production and distribution of microRNAs. The current challenges faced by our organization include the temporary closure of manufacturing facilities, border restrictions, and supply chain disruptions. As a result, consumers face delays in product delivery and an increase in prices. The scarcity of microRNA-based diagnostics and therapeutics has hindered their application in clinical settings. The COVID-19 pandemic has had a favorable effect on the microRNA market. The microRNA market is experiencing growth due to several factors such as the growing prevalence of chronic diseases, the global increase in COVID-19 cases, the advancements and adoption of next-generation sequencing methods, and the growing use of microRNA biomarker.

REPORT COVERAGE:

This research report on the global microRNA market has been segmented and sub-segmented based on product, service, application, end-user, and region.

Global microRNA Market – By Product:

• Instruments
  • By Technology
    • Real-Time PCR
    • Microarray
    • NGS
    • Others
  • By Workflow
    • Isolation & Purification
    • Whole Blood
    • Serum
    • Plasma
    • FFPE
    • Fresh Frozen Tissue
    • Others
  • miRNA cDNA Synthesis
  • Profiling, Localization, & Quantification
  • Functional Analysis & Others
  • Others
• Consumables
  • By Specimen
    • Whole Blood
    • Serum
    • Plasma
    • FFPE
    • Fresh Frozen Tissue
    • Others
  • By Workflow
    • Isolation & Purification
    • miRNA cDNA Synthesis
    • Profiling, Localization, & Quantification
    • Functional Analysis
    • Others

Global microRNA Market – By Services:

• Service Type
  • Isolation & Purification
  • miRNA cDNA Synthesis
  • Profiling, Localization, & Quantification
  • Functional Analysis
    • Real-Time PCR
    • Microarray
    • NGS
    • Others
  • Others
• By Specimen
  • Whole Blood
  • Serum
  • Plasma
  • FFPE
  • Fresh Frozen Tissue
  • Others

Based on services, the profiling, localization, and quantification services segment held the leading share of the global microRNA market in 2022 and is expected to grow at a healthy CAGR during the forecast period. The growing number of strategic collaborations between companies in the field of microRNA profiling services is majorly driving segmental expansion. The 3D Gene platform for microRNA profiling has enhanced performance and robustness for sample preparation, microRNA profiling, and data analysis workflow management.

Owing to a growing emphasis on the development of new microRNA purification methods, the isolation and purification segment is anticipated to grow at the fastest CAGR over the forecast period. Researchers developed a relatively new magnetic bead-based RNA purification method that incorporates specific RNA isolation kits for efficient analysis of small RNAs such as MicroRNA s. In addition, the RNA extracted using this method was suitable for mRNA and microRNA expression analysis using real-time polymerase chain reaction.

Global microRNA Market – By Application:

• Cancer
• Infectious Diseases
• Immunological Disorder
• Cardiovascular Disease
• Neurological Disease
• Others

Based on the application, the cancer segment accounted for the major share of the global market in 2022 and is predicted to register a healthy CAGR during the forecast period owing to the growing incidence of cancer, the significance of cancer cases in disease pathology, and concerning innovations in the role of microRNAs in cancer diagnosis via cancer-associated genomic regions. Several tumor suppressor microRNAs are typically inhibited during the translation of microRNAs that encode for oncogenes, thereby inhibiting tumor formation and cancer progression. Thus, microRNA dysregulation is well understood as a potential therapeutic target for a variety of cancer types.

Owing to the introduction of new molecular biomarkers for the early detection of cardiovascular diseases, the cardiovascular disease segment is anticipated to grow at a lucrative CAGR over the forecast period. Due to their tissue-specific expression patterns, stability, and secretion of the corresponding body fluids, microRNAs are attractive therapeutic targets for cardiovascular diseases. In addition, several studies have implicated microRNA in cardiovascular diseases.

Global microRNA Market – By End-Users:

• Biotechnology & Pharmaceutical Companies
• Academic & Government Research Institutes
• Other end-users

Based on end-user, the academic and government research institutes segment dominated the microRNA market in 2022. The growing number of initiatives from several governments to encourage academic and research institutions for the R&D around genomics propel the segmental growth. The growing significance of microRNA in the diagnosis of cancer, cardiovascular diseases and infectious diseases by diagnostic labs, CROs, and hospitals further contributes to the segment’s growth rate.

On the other hand, the biotechnology and pharmaceutical companies segment is predicted to account for a considerable share of the global market during the forecast period. Companies such as Regulus Therapeutics, Mirna Therapeutics, and miRagen Therapeutics invest heavily in the development of RNA-based therapeutics.

Global microRNA Market – By Region:

• North America
• Europe
• APAC
• Latin America
• Middle East and Africa

North America held the major share of the global microRNA market in 2022 and is predicted to hold the largest share of the global market throughout the forecast period. The strong presence of pharmaceutical and biotechnology companies, the availability of advanced healthcare infrastructure and increasing investments for R&D majorly drive the North American market growth. The favorable regulatory environment, high adoption rate of advanced technologies and the presence of major market players and collaborations between academic institutions and industry further contribute to the growth rate of the North American market.

Europe is another promising regional market for microRNA. It is predicted to register a healthy CAGR during the forecast period due to factors such as the presence of a well-established healthcare system, high prevalence of chronic diseases and growing demand for innovative diagnostic and therapeutic solutions like microRNA-based products. A strong focus on research and development, with several academic and research institutions actively involved in microRNA studies is another major factor propelling the European market growth. The presence of government initiatives and funding programs supporting genomics research and strategic collaborations between industry players and academic institutions have facilitated the development and commercialization of microRNA-based products in Europe. These factors further fuel the growth rate of the European market.

APAC is predicted to register the fastest CAGR during the forecast period owing to factors such as the presence of a large patient population, increasing healthcare expenditure, rising awareness about personalized medicine and advancements in healthcare infrastructure. The presence of a rapidly expanding biotechnology and pharmaceutical sector, favorable government initiatives and increasing collaborations between regional and international players further fuel the growth rate of the APAC market. The rising prevalence of chronic diseases and the need for effective diagnostic and therapeutic solutions is another key factor supporting regional market growth. China, Japan and India held the major share of the global market in 2022.

Regions such as Latin America and MEA held a moderate share of the global market in 2022.

KEY MARKET PARTICIPANTS:

Merck KGaA., Illumina, Inc., Agilent Technologies, Thermo Fisher Scientific, Inc., System Biosciences LLC, Promega Corporation, Miltenyi Biotec, Rosetta Genomics Ltd., HTG Molecular Diagnostics, Inc., Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd, Qiagen N.V, Bioline GmbH (A Meridian Life Science Company), BioGenex, Horizon Discovery Ltd., GeneCopoeia, Inc, NanoString Technologies, Inc, BioDynamics Laboratory Inc. are some of the major players in the global microRNA market.