What is the global market size of MicroRNA Market?

MicroRNA Market size was valued at USD 1001.59 Million in 2021 and is poised to grow from USD 1173.86 Million in 2022 to USD 4178.66 Million by 2030, at a CAGR of 17.2% during the forecast period (2023-2030).

Who are the key vendors in the Global MicroRNA Market?

The global microRNA market is characterized by a highly competitive landscape, with numerous players striving to establish their presence and gain a competitive edge. The market is driven by intense research and development activities aimed at discovering novel microRNA biomarkers, therapeutic targets, and diagnostic tools. These advancements are fueling the development of innovative microRNA-based products and solutions, further intensifying the competition among market participants. Key players in the global microRNA market include biotechnology and pharmaceutical companies, academic and government research institutes, and contract research organizations. These entities contribute to the market by conducting extensive research, clinical trials, and commercialization of microRNA-based products. Furthermore, collaborations and partnerships between industry players and research institutions are common, allowing for knowledge sharing and synergistic advancements. Market participants strive to differentiate themselves by offering a wide range of microRNA-related products and services, including miRNA isolation kits, miRNA quantification assays, miRNA expression profiling arrays, miRNA functional analysis tools, and miRNA sequencing services. Additionally, companies focus on developing proprietary technologies and platforms that enhance the efficiency, accuracy, and sensitivity of microRNA analysis. To stay competitive, market players engage in strategic initiatives such as mergers and acquisitions, partnerships, and collaborations. These activities help them expand their product portfolios, strengthen their market presence, and access new geographical markets. Furthermore, companies invest in research and development to drive innovation and maintain a pipeline of cutting-edge microRNA-based products. The competitive landscape is also influenced by intellectual property rights and patent protection. Securing patents for novel microRNA-related discoveries and technologies is crucial for market players to safeguard their innovations and maintain a competitive advantage. 'Qiagen N.V. - Netherlands', 'Thermo Fisher Scientific Inc. - US', 'Agilent Technologies, Inc. - US', 'Illumina, Inc. - US', 'Merck KGaA - Germany', 'F. Hoffmann-La Roche Ltd. - Switzerland', 'Bio-Rad Laboratories, Inc. - US', 'PerkinElmer, Inc. - US', 'System Biosciences LLC - US', 'New England Biolabs, Inc. - US', 'NanoString Technologies, Inc. - US', 'Exiqon A/S - Denmark', 'Takara Bio Inc. - Japan', 'GenScript Biotech Corporation - US', 'Eurofins Scientific SE - Luxembourg', 'Novartis AG - Switzerland', 'Bio-Techne Corporation - US', 'Agios Pharmaceuticals, Inc. - US', 'Abcam plc - United Kingdom', 'Promega Corporation - US'.

What is the key driver of Global MicroRNA Market?

Technological advancements in genomics and molecular biology, such as next-generation sequencing and microarray platforms, have enabled high-throughput analysis of microRNAs. These technologies provide researchers with valuable tools to identify and characterize microRNAs, leading to increased research activities and driving market growth.

What is the key market trend for Global MicroRNA Market?

Growing Collaboration between Industry and Academia: Collaborations between biotechnology and pharmaceutical companies, academic research institutions, and government organizations are increasingly common in microRNA research. These collaborations leverage the expertise, resources, and knowledge of multiple stakeholders to accelerate the development and commercialization of microRNA-based products and solutions.

Which region accounted for the largest share in Global MicroRNA Market?

North America dominates the microRNA market due to the presence of a well-established healthcare infrastructure, significant investments in research and development, and a strong biotechnology and pharmaceutical industry. The region is home to several key market players and academic research institutes actively engaged in miRNA research. Additionally, favorable government initiatives, collaborations between academia and industry, and the availability of advanced technologies contribute to the dominance of North America in the microRNA market.

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

Report ID: SQMIG35H2216 | Region: Global | Published Date: September, 2024
Pages: 157 | Tables: 61 | Figures: 75

MicroRNA Market Dynamics

MicroRNA Market Drivers

Increased Public and Corporate Funding in Genomic Research

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.

Enhanced Understanding and Application of Biomarkers

MicroRNAs are gaining more importance as non-invasive biomarkers, and the medical profession and scientists are slowly realizing that biomarkers hold the key to the early detection and monitoring of disease conditions. MicroRNAs, being stable in body fluids, represent an ideal solution for diagnostic purposes and a representation of diseased condition. Growing awareness is thereby driving the demand for microRNA-based assays that will help to provide critical information regarding disease conditions and responses to treatment.

MicroRNA Market Restraints

Complex microRNA Biology

MicroRNA biology is also complex, partly because it involves mode of action, mode of interaction with other biological components, and variability from different tissues. This complexity may delay pinpoint identification of specific treatment targets and translate scientific findings into practice somewhat harder, thus threatening the growth of the microRNA market.

Market Fragmentation

This fragmentation of the microRNA industry, with many companies driving in different directions to research, diagnose, and treat microRNA, will make it difficult for end consumers to make the best choices, which again leads to inconsistencies in the quality and reliability of products. It may further complicate the formation of standardized microRNA applications in the clinical environment and problematize working teams.

MicroRNA Market Report Snapshots

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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.

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MicroRNA Market Dynamics

MicroRNA Market Report Snapshots

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What is the global market size of MicroRNA Market?

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