South and Central America miRNA Sequencing and Assay Market Share and Forecast by 2027

The South and Central America miRNA sequencing and assay market is expected to reach US$ 13.84 million by 2027 from US$ 6.24 million in 2019; it is estimated to grow at a CAGR of 10.6% from 2020 to 2027.

The market growth in this region is mainly attributed to the widening range of microRNA applications and rise in funding for genomics research. However, challenges related to the delivery, efficacy, and specificity of miRNA-based therapeutics hinder the market growth.  

MicroRNAs (miRNAs) are noncoding RNAs that are partially complementary to messenger RNA (mRNA). They are known to downregulate the expression, which makes them vital regulators of important cellular functions. 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 South and Central America.

Countries in the are witnessing severe effects of the COVID-19 pandemic. Currently, these countries are rapidly boosting various clinical programs to manage this disease. The increasingly high focus on innovative diagnostic techniques that has resulted in growing adoption of sequencing and genomic assay methods. Eurofins genomics has donated 100,000 fast PCR tests to detect SARS-CoV-2 to hospitals in Brazil. In addition, the key players have also shifted their focus toward the development of advanced instruments and products, which could aid in COVID-19 diagnosis. Hence, the COVID-19 is supporting the South and Central America miRNA sequencing and assay market growth.

South and Central America miRNA Sequencing and Assay Market Segmentation

By Product

• Library Preparation
• Consumables

By Technology

• Sequencing by Synthesis
• Nanopore
• Ion Semiconductor Sequencing

By End User

• Research Institute
• Academia
• CRO

By Country

• Brazil
• Argentina
• Rest of South and Central America

Company Profiles

• Illumina, Inc
• THERMO FISHER SCIENTIFIC INC.
• QIAGEN
• Perkin Elmer, Inc.
• Takara Bio Inc.
• New England Biolabs
• Norgen Biotek Corp
• TriLink BioTechnologies Inc.
• Lexogen GmbH
• Oxford Nanopore Technologies

South and Central America miRNA Sequencing and Assay Report Scope