miRNA Sequencing And Assay Market Outlook and Industry Forecast to 2028

The global miRNA sequencing and assay market size was valued at USD 224.8 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 13.0% from 2021 to 2028.

The global miRNA Sequencing And Assay Market size is expected to reach USD 597.8 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.0% from 2021 to 2028. Prominent players, such as Illumina, PerkinElmer, Qiagen, and others offer advanced miRNA sequencing products for multiple clinical applications. Moreover, these companies have collaborated with research institutes to expand the application of miRNA sequencing and assay in research studies.

The market holds a significant growth potential owing to the increasing application of miRNA sequencing and assay in the healthcare industry. For instance, several research studies demonstrate that miRNAs can be used as efficient biomarkers in the diagnosis and prognosis of cancer (breast, ovarian, cervical, and others), cardiovascular diseases, sepsis, and nervous system disorders. Therefore, miRNA sequence analysis is increasingly employed to analyze gene regulation in clinical disorders.

As plasma from COVID-19 recovered patients is rich in antiviral miRNAs and antibodies, it has been employed to treat SARS-CoV-2 infected patients. This has led to an increase in research studies that focus on the sequence analysis of miRNAs (microRNA) from the patient as well as the virus.

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miRNA Sequencing And Assay Market Report Highlights

• The product segment dominated the market and accounted for the largest revenue share in 2020. The commercial presence of multiple players that offer extensive kits, consumables, and instruments for specialized applications contribute to segment growth
• Small and mid-sized research entities face financial limitations to install sequencing equipment owing to their high cost. Therefore, these organizations approach service providers. This is expected to drive the services segment with the fastest CAGR over the forecast period
• Sequencing by synthesis holds a major share of the technology segment owing to its high sensitivity, fast turnaround time, and high throughput
• Additionally, this technology is playing important role in the detection of mutations in tumor tissue which helps to develop targeted and personalized therapies
• The sequencing workflow segment held the largest revenue share in 2020 and is expected to witness the fastest CAGR during the forecast period as it is the most important and crucial step of the workflow
• The cancer application segment generated the largest revenue share in 2020 owing to ongoing extensive research in cancer using miRNA as a biomarker to study diagnosis and prognosis of cancer and to develop novel therapies
• Furthermore, an increase in the number of cancer patients globally drives segment growth
• Research and academic institutions are one of the major revenue generators of the market as miRNA sequencing and assay techniques and associated products are being widely used in various research studies conducted by research and academic institutes
• In Asia Pacific, the market is anticipated to register a lucrative growth rate throughout the forecast owing to the presence of a huge target population, growing establishment of healthcare, and high unmet clinical needs