Global miRNA Tools and Services Market Size, Share & Industry Trends Analysis Report By Technology (qRT-PCR, Extraction Tools, NGS, Microarray, Functional Analysis Tools), By End User, By Product & Services, By Regional Outlook and Forecast, 2022 - 2028
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Get in-depth analysis of the COVID-19 impact on the miRNA Tools and Services Market
Market Report Description
The Global miRNA Tools and Services Market size is expected to reach $939.8 million by 2028, rising at a market growth of 17.8% CAGR during the forecast period.
miRNA is a non-coding and small gene that is known to influence the expression of certain other genes. miRNAs or microRNAs control apoptosis, inflammation, immunological response, and development and differentiation. A miRNA tool kit provides researchers with practical tools to use when examining these phenomena at their most primitive level, enabling them to more quickly grasp how it functions than by trying to develop a custom test from the beginning.
The increase in cardiovascular disease and cancer incidences globally has boosted the usage of miRNA as a tool in screening and diagnosis processes. Additionally, the application of miRNA is expected to rise due to the usage of technological and bioinformatics-improved systems (such as NGS).
MicroRNAs, which are made up of 18–25 nucleotides, function as post-transcriptional negative regulators of gene expression. Through translational repression or the destruction of target mRNAs, miRNAs regulate the post-transcriptional regulation of genes. MiRNAs regulate a variety of biological activities including cell differentiation, development, proliferation, and death by altering the availability of mRNAs and protein synthesis.
Variations in miRNA-based expression profiles have been seen in a number of disorders, including cancer, osteoporosis, cardiac disease, and heart failure. These changes are linked to dysfunctional cellular processes. Numerous miRNAs affect tumor and oncogenes suppressor genes that are directly involved in the development of cancer.
COVID-19 Impact Analysis
The pandemic had a detrimental effect on the expansion of the market for miRNA equipment and services since production was slowed down by global lockdowns and social distance rules. The pandemic propelled research and technological investments in the medical tools sector to develop rapid testing kits. As a result, simultaneous efforts were also made in the utilization of miRNAs. As research demonstrates that cc-miRNAs can be utilized as a therapy for the COVID-19 pandemic, the industry is expanded along with the rise in infectious viruses.
Market Growth Factors
Rising technological advancements in the utilization of miRNA
In recent years, technological advancements in the crucial stages of miRNA expression profiling, validation, and target gene identification have provided manufacturers and researchers with the motivation to provide novel solutions. For application in preclinical functional research and translational medicine, HTG Molecular Diagnostics Inc., for example, introduced a complete panel for miRNA expression analysis called the HTG EdgeSeq mouse miRNA whole transcriptome test. Due to their crucial roles in numerous biological processes, such as development, differentiation, cell proliferation, and death, miRNA expression profiling is of great interest.
Increasing number of clinical trials for chronic illnesses
MiRNA's pre-clinical and clinical research applications are being expanded by ongoing investigations and clinical trials. A growing number of studies point to the significant use of miRNAs as medications for medical therapy in practically all human health disorders, biomarkers for pathogenic diseases, or modulators of treatment resistance. As a result, one of the important reasons driving the growth of the miRNA is the expansion of clinical trials to assess the effectiveness of miRNA in the therapy of various chronic illnesses.
Market Restraining Factors
Inefficacy of miRNA in delivering results to the target
Similar to small interfering RNA medicines, microRNA-based therapies face difficulties with delivery, the possibility of off-target effects, and safety. The tissue-specific delivery of miRNA therapies is one of the main challenges. One miRNA's ability to target several genes is potentially a disadvantage because potential off-target effects could result in harmful outcomes. Another important consideration in the creation of miRNA therapies is the possibility that some biological activities of miRNAs could be partially redundant or cell-type dependent.
On the basis of technology, the miRNA tools and services market is divided into extraction tools, qRT-PCR, NGS, microarray, functional analysis tools, and others. The qRT-PCR segment acquired the largest revenue share in the miRNA tools and services market in 2021. The rise in cancer cases, the occurrence of chronic diseases, increased financing for research into gene therapy, and cutting-edge drug development techniques that employ RNAi-based methods are all factors that have contributed to the segment's expansion.
End User Outlook
Based on end user, the miRNA tools and services market is categorized into research and academic institutes, IVD, pharma and biotech companies, and CROs. The IVD, pharma and biotech companies segment witnessed a significant revenue share in the miRNA tools and services market in 2021. Pharma and biotech businesses employ miRNA Tools & Services to test the safety of medications during clinical trials or as part of the drug discovery process. Additionally, they use them when creating diagnostics for both scientific (such as detecting gene expression patterns linked to specific tumors) and commercial (such as prenatal testing) objectives.
Product & Services Outlook
Based on product and services, the miRNA tools and services market is bifurcated into research tools and services. The research tools segment garnered the highest revenue share in the miRNA tools and services market in 2021. The rising prevalence of chronic diseases like cardiovascular and cancer disorders, research funding from various companies, and recent developments like the use of bioinformatics for research have all contributed to the segment's growth. The kits, reagents, and other consumables categories are found under this segment.
|Market size value in 2021||USD 313.3 Million|
|Market size forecast in 2028||USD 939.8 Million|
|Historical Period||2018 to 2020|
|Forecast Period||2022 to 2028|
|Revenue Growth Rate||CAGR of 17.8% from 2022 to 2028|
|Number of Pages||218|
|Number of Tables||370|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Technology, End User, Product & Services, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
On the basis of region, the miRNA tools and services market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment witnessed the highest revenue share in the miRNA tools and services market in 2021. Growth in the segment can be ascribed to a number of things, including the existence of important players, considerable R&D efforts, and developed infrastructure for genomics, proteomics, and oncology research. Companies in the area are also getting their miRNA biomarkers approved for patents.
Free Valuable Insights: Global miRNA Tools and Services Market size to reach USD 939.8 Million by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co., Agilent Technologies, Inc., Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., Illumina, Inc., Qiagen N.V., New England BioLabs, Inc., Promega Corporation, GeneCopoeia and Norgen Biotek Corp.
Scope of the Study
Market Segments Covered in the Report:
- Extraction Tools
- Functional Analysis Tools
By End User
- Research & Academic Institutes
- IVD, Pharma & Biotech Companies
By Product & Services
- Research Tools
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- General Electric (GE) Co.
- Agilent Technologies, Inc.
- Thermo Fisher Scientific, Inc.
- Bio-Rad Laboratories, Inc.
- Illumina, Inc.
- Qiagen N.V.
- New England BioLabs, Inc.
- Promega Corporation
- Norgen Biotek Corp.
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