MicroRNA Market Size, Share, Growth Analysis, By Products & Services(Services [Type (Isolation & Purification, miRNA cDNA Synthesis, Profiling, Localization), By Application(Cancer, Infectious Diseases, Immunological Disorder, Cardiovascular Disease), By End-use(Biotechnology & Pharmaceutical Companies, Academic & Government Research Institutes, Others), By Region - Industry Forecast 2024-2031

MicroRNA Market size was valued at USD 1.20 billion in 2022 and is poised to grow from USD 1.35 billion in 2023 to USD 3.58 billion by 2031, growing at a CAGR of 12.90% during the forecast period (2024-2031).

The global microRNA industry is characterized by several competitors who are escalating their fight to capture market shares and gain a competitive edge. Research and development activities aimed at discovering new microRNA biomarkers, therapeutic targets, and diagnostic tools are driving the industry. Therefore, rivalry among market players is escalating too since such discoveries are promoting the development of new products and services based on microRNAs. Major players in the microRNA market include contract research firms, government and university research facilities, and biotechnology and pharmaceutical corporations. These organizations maintain the market via in-depth research, clinical studies, and commercialization of microRNA-based products. 'Thermo Fisher Scientific, Inc. (US) ', 'QIAGEN (Germany) ', 'NanoString Technologies, Inc. (US) ', 'Merck KGaA (Germany) ', 'Takara Bio, Inc. (Japan) ', 'BioGenex (US) ', 'GeneCopoeia, Inc. (US) ', 'New England Biolabs (US) ', 'Agilent Technologies, Inc. (US) ', 'Illumina, Inc. (US) ', 'Abcam plc (UK) ', 'Roche Holding AG (Switzerland) ', 'Arcturus Therapeutics Ltd. (US) ', 'Synthego Corporation (US) ', 'Bio-Techne Corporation (US) ', 'F. Hoffmann-La Roche Ltd. (Switzerland) ', 'Asuragen, Inc. (US) ', 'Cell Signaling Technology, Inc. (US) ', 'Molecular Cloud (China) ', 'Ribomed Biotechnologies, Inc. (US) ', 'Sirnaomics Inc. (US)'

Public and corporate funding in genomic research is opening new benefits in the microRNA industry. There is increased funding for conducting research in how microRNAs regulate gene functions and the development of illness. Such funding fast-tracks the creation of diagnostics and treatments through microRNA bases, and it facilitates innovation and cooperative research projects, thereby establishing their use in clinical settings. 

Development of Combination Therapies: Major microRNA market trends include combination therapies. There is a growing trend wherein more emphasis is being laid down on combination therapy that consists of using a classical treatment in combination with a microRNA-based treatment. Researchers are looking into how they can better improve treatment outcomes and surmount drug resistance through the potential use of microRNAs in interfering with a multiplicity of pathways or enhancing the effectiveness of drugs already available on the market. As such, the trend tends to be more holistic where instead of targeting one pathway, the drugs and therapeutic approaches manage to achieve therapeutic gain through the exploitation of unique properties of microRNAs. 

The microRNA market outlook highlighted that in 2023, the market was dominated by North America. This is so because growth in the region of microRNA is attributed to a number of factors, such as availability of significant population of major players in the area; some of which are Merck KGaA., NanoString Technologies, Inc., and Thermo Fisher Scientific, besides others whose expenditure on R&D has increased with them trying to come up with more advanced and innovative products. In 2023, the US accounted for the highest market share in North America. Some of the prominent players of the market with headquarters based in the US are Thermo Fisher Scientific, Merck KGaA., and QIAGEN. Distribution networks form the backbone of these players. The country enjoys simple access to miRNA services and products.