Europe miRNA Sequencing and Assay Market is expected to reach US$ 144.87 Mn by 2027

PRESS RELEASE BY The Insight Partners 05 May 2021

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The consumables segment by product is estimated to lead the market growth during the forecast period.

According to The Insight Partners market research study of “Europe miRNA Sequencing and Assay Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product, Technology, End User and Country.” The Europe miRNA sequencing and assay market is expected to reach US$ 144.87 million by 2027 from US$ 62.30 million in 2019; it is estimated to grow at a CAGR of 11.3% from 2020 to 2027. The report highlights trends prevailing in the Europe miRNA sequencing and assay market and the factors driving market along with those that act as hindrances.

The Europe miRNA sequencing and assay market, by product, is segmented into library preparation, and consumables. The consumables segment held the largest share of the market in 2019, whereas the library preparation segment is anticipated to register the highest CAGR in the market during the forecast period. MicroRNAs (miRNAs) being involved in the process of differentiation, they act as markers in cell type identification. miRNAs are associated with pathological processes such as viral infections, autoimmune diseases, and carcinogenesis. Thus, extensive research is being conducted to identify new miRNAs. Furthermore, new discoveries regarding the role of miRNAs in disease development have made them a key target of novel therapeutic approaches. Several miRNA-targeted therapeutics against the diseases such as cancer and hepatitis have reached the clinical phase. For instance, Santaris Pharma has developed a therapeutic molecule named Miravirsen that targets miR-122 for the treatment of hepatitis C virus (HCV) infection; the molecule is in the Phase II clinical trial. Therefore, rise in funding of genomic research to identify new molecules to diagnose and treat diseases, and consequent expansion of the range of applications of miRNAs are driving the growth of the miRNA sequencing and assay market in Europe.

The COVID-19 pandemic has been having some serious effects on European countries. The miRNA sequencing and assay market in the region witnessed shortfall at the beginning of the pandemic crisis due to disruptions in supply chain and lowered demands due to lockdown imposed by many European countries. However, later, the demand for the miRNA sequencing and assay products increased drastically with supportive government initiatives. Many private research organizations have expanded their research teams and projects to accelerate studies related to SARS-CoV-2. For instance, QIAGEN, Germany, a pioneer in next-generation sequencing (NGS), has expanded its integrated coronavirus next-generation sequencing platforms and software solutions to accelerate COVID-19 research. Hence, the COVID-19 pandemic has been supporting the Europe miRNA sequencing and assay market growth.

The growth of the market is attributed to some key driving factors such as widening range of MicroRNA applications and rise in funding for genomics research. However, the challenges related to delivery, efficacy, and specificity of miRNA-based therapeutics hinder the market growth.

Illumina, Inc, THERMO FISHER SCIENTIFIC INC., QIAGEN, Perkin Elmer, Inc., Takara Bio Inc., New England Biolabs, Norgen Biotek Corp, TriLink BioTechnologies Inc., Lexogen GmbH, and Oxford Nanopore Technologies are among the leading companies operating in the Europe miRNA sequencing and assay market.

The report Europe miRNA Sequencing and Assay Market as follows:

By Product

  • Library Preparation
  • Consumables

By Technology

  • Sequencing by Synthesis
  • Nanopore
  • Ion Semiconductor Sequencing

By End User

  • Research Institute
  • Academia
  • CRO

By Country

  • UK
  • Germany
  • France
  • Italy
  • Spain
  • Rest of Europe

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