Molecular diagnostics is a vast field that comprises of techniques and methods to analyze biomarkers in genetic code. It helps in encoding genomes and proteomes that are required for studying and detecting the disease, and thus help in deciding the best therapy for an individual. MicroRNA tools and services market is experiencing a significant growth due to increased R&D and rising government initiatives in this field. MicroRNA tools market is further segmented into quantitative real-time polymerase chain reaction (qRT-PCR), microarrays, and functional tools. Of which, qRT-PCR segments remains the largest and the fastest growing segment. MicroRNA services market is further segmented into phenotypic analysis and expression profiling and analysis.
North America dominates the global microRNA tools and services market due to increased government initiatives and broad technical applications of microRNA tools and services in the region. Europe, followed by Asia, is expected to experience high growth rate in the next few years in global microRNA tools and services market. China and India are expected to be the fastest growing microRNA tools and services market in Asian region. This is due to increased investments from foreign companies in these countries. Some of the key driving forces for microRNA tools and services market in emerging countries are increasing R&D investment, improved healthcare facilities and rising government funding.
Various factors such as growing awareness about microRNA technology, increasing government initiatives and accuracy of the results obtained have been driving the microRNA tools and services market. In addition, increased funding from various government and non-government organizations and increased availability of this technology has been driving the microRNA tools and services market. However, high cost involved and lack of experienced professionals has been restraining the growth of microRNA tools and services market.
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