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 “Middle East and Africa miRNA Sequencing and Assay Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Product, Technology, End User and Country.” The Middle East and Africa miRNA sequencing and assay market is expected to reach US$ 22.00 million by 2027 from US$ 8.71 million in 2019; it is estimated to grow at a CAGR of 12.4% from 2020 to 2027. The report highlights trends prevailing in the Middle East and Africa miRNA sequencing and assay market and the factors driving market along with those that act as hindrances.
The Middle East and Africa 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. miRNA being involved in the process of differentiation; they play a crucial role as a useful marker in identifying cell types. miRNAs are associated with pathological processes such as viral infections, autoimmune diseases, and carcinogenesis. Thus, there is extensive research being conducted to identify new miRNAs. Furthermore, discovery regarding the role of miRNAs in disease development have made miRNAs 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, the growing range of applications of miRNAs is driving the growth of the miRNA sequencing and assay market. Similarly, rise in funding of genomic research to identify new molecules to diagnose and treat diseases across Middle East and Africa, is fueling the market growth.
Countries in the Middle East regions are experiencing serious effects of the COVID-19 pandemic. The initial phases of lockdown in various countries affected the supply of many instruments and consumables in these regions. Due to surging COVID-19 cases, demand for novel diagnostic tests is on rise in the Middle East, and research activities have resulted in higher adoption of miRNA sequencing and assay procedures in this region. Hence, the ongoing pandemic is positively impacting the miRNA sequencing and assay market in the Middle East and Africa.
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 Middle East and Africa miRNA sequencing and assay market.
The report Middle East and Africa 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
- UAE
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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