The global microRNA market size is expected to showcase exponential growth by reaching USD 613.2 million by 2027 while exhibiting a CAGR of 13.4% between 2020 and 2027. This growth is attributable to the increasing prevalence of chronic diseases such as Cancer and the growing focus on adoption of advanced technology in microRNA research across the globe. This information is published by Fortune Business Insights in its latest report, titled, “MicroRNA Market Size, Share & Covid-19 Impact Analysis, By Product (Instruments and Kits & Reagents) By Application (Isolation & Purification, Detection & Quantification, Disease Diagnostics, and Others) and By End User (Pharma & Biotech Companies, Academic & Research Institutes, Healthcare Facilities, and Others), 2020-2027.” The report further mentions that the market stood at USD 215.4 million in 2019.
Healthcare Companies Focus on Novel Product Launches & Research Activities to Bolster Market Growth amid COVID-19
According to the PLOS Medicine report, higher incidence of acute kidney injury (AKI) in patients contracting COVID-19 is associated with a 3-fold higher odds of death than non-COVID-19 patients. These data indicate that patients suffering from novel coronavirus are likely to be monitored for AKI. Moreover, research proves that the cc-miRNAs can be used as therapeutic agents to treat infections in patients suffering from COVID-19, SARS-CoV, and MERS-CoV. Therefore, the growing focus on R&D activities and the introduction of novel products is likely to bode well for the market growth. Based on our analysis, the market is projected to exhibit a stellar growth of 18.30% in 2020.
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North America to Remain Dominant; Increasing Number of Clinical Trials to Accelerate Growth
Among all the regions, North America is expected to remain at the forefront and hold the highest position in the global miRNA market in the forthcoming years. This is attributable to the increasing microRNA clinical trials to develop advanced diagnostic solutions in countries such as the U.S. North America stood at USD 97.4 million in 2019.
On the other hand, Europe is expected to hold the second position in the market in the forthcoming years. This is ascribable to factors such as growing government funding for the startups for R&D activities to develop novel microRNA-based therapies and gain valuable insights in the molecular diagnostics in the region.
Partnership Among Key Players to Develop Advanced Treatment Solutions
The global microRNA market is fragmented by the presence of major companies that are focusing on partnering with other like-minded companies to develop novel microRNA-based treatment solutions on account of the increasing prevalence of chronic diseases. Moreover, other key players are striving to maintain their position by adopting strategies such as merger and acquisition, facility expansion, and collaboration that is likely to favor the growth of the market during the forecast period.
Key Players Operating in The MicroRNA Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- QIAGEN N.V. (Hilden, Germany)
- Thermo Fisher Scientific (Waltham, U.S.)
- BioVendor (Brno, Czech Republic)
- Takara Bio Inc. (Shiga, Japan)
- Merck KGaA (Darmstadt, Germany)
- NanoString Technologies, Inc. (Washington, U.S.)
- Heim Biotek (Seongnam, South Korea)
- GeneCopoeia, Inc. (Maryland, U.S.)
- Takara Bio Inc. (Shiga, Japan)
- Other Prominent Players
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Highlights of the Report:
- In-depth analysis of various insights, namely, MicroRNA Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and MicroRNA Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
Rising Awareness Regarding Microrna Therapeutics Will Enable Growth
The rising investments in research & development activities and is expected to support the growth of the global microRNA market. The increasing prevalence of chronic and acute diseases around the world is likely to boost the global microRNA market revenue during the forecast period. Furthermore, the unveiling of preclinical data in pulmonary fibrosis is expected to augment the growth of the global microRNA market. For instance, miRagen Therapeutics presented preclinical data in pulmonary fibrosis with the usage of second-generation microRNA-29 replacement product candidate at the 2019 American Thoracic Society’s International Conference. In addition, rising awareness regarding MicroRNA therapeutics along with increasing geriatric population is predicted to contribute significantly to the global microRNA market.
Increasing Demand for Preventive Care Will Boost Growth
The dynamic and transformative nature of MicroRNA therapeutics is likely to duel demand, which, will, in, turn aid growth of the global microRNA market. The rising demand for preventive care is also likely to enable growth of the global microRNA market. Furthermore, the launch of RG-012 by Regulus Therapeutics Inc. is expected to escalate the global microRNA market shares. For instance, Regulus Therapeutics Inc. announced that their MicroRNA Therapeutic candidate called RG-012 for the Alport syndrome is on track as planned and was at the stage of initiation for Phase II clinical trials
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Report Focus:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential MicroRNA Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the MicroRNA Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- 1 Overview of Clinical Trials – Key Candidates, Key Companies
- 1.1 Clinical Trials: Potential Candidates, miRNA’s as Therapeutic Agents
- 1.2 Clinical Trials: Potential Candidates, miRNA’s as Biomarkers & Diagnostics
- 2 Regulatory Scenario – miRNA Diagnostic & Therapeutic Products
- 3 Impact of Covid-19 on the Market
- 4 Key Developments, Mergers, Acquisitions, etc.
- 1 Overview of Clinical Trials – Key Candidates, Key Companies
- Global MicroRNA Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- 2.1 Instruments
- 2.2 Kits & Reagents
- Market Analysis, Insights and Forecast – By Application
- 3.1 Isolation & Purification
- 3.2 Detection & Quantification
- 3.3 Disease Diagnostics
- 3.4 Others
- Market Analysis, Insights and Forecast – By End User
- 4.1 Pharma & Biotech Companies
- 4.2 Academic & Research Institutes
- 4.3 Healthcare Facilities
- 4.4 Others
- Market Analysis, Insights and Forecast – By Region
- 5.1 North America
- 5.2 Europe
- 5.3 Asia Pacific
- 5.4 Rest of the World
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