The MiRNA Sequencing Market size is projected to reach US$ 741.25 million by 2031 from US$ 301.52 million in 2023. The market is expected to register a CAGR of 11.90% in 2023–2031. The technological advancements in various types of sequence analysis platforms, and rising applications of miRNA are driving the market growth of miRNA sequencing assay. miRNA sequence analysis helps in the discovery of non-characterized miRNAs and supports miRNA isoforms examination and the study of disease associations. Hence, these factors are likely to remain key miRNA Sequencing market trends.
MiRNA Sequencing Market Analysis
miRNAs are critical in identifying the progression, development, prognosis, diagnosis, and treatment response of cancer patients. Few miRNAs function as tumor suppressors, while others act as oncogenes. According to an article published in Advanced Pharmaceutical Bulletin in July 2023, miRNA acts as a target for cancer diagnosis. The assay has been identified as a potential prognostic factor in head and neck squamous cell carcinomas (HNSCCs) through miRNA profiling. Furthermore, miRNAs have also shown application in forensic medicine due to their features such as stability and specificity capabilities. Hence, the rising adoption of miRNA sequencing assay is boosting the overall market growth.
MiRNA Sequencing Market Overview
North America is the largest market for miRNA Sequencing market growth with the US holding the largest market share followed by Canada. Asia Pacific registered the fastest growth. The growth in North America is characterized by the increasing application of miRNA sequencing assay for the diagnosis of several life-threatening diseases in North America. Furthermore, the rising demand for personalized medicine and escalating chronic and acute diseases as, miRNA act as a biomarker for such diseases, hence these factors are anticipated to augment the market growth of the North American miRNA sequencing market.
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MiRNA Sequencing Market: Strategic Insights
Market Size Value in US$ 192.31 Million in 2019 Market Size Value by US$ 468.99 Million by 2027 Growth rate CAGR of 11.9% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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MiRNA Sequencing Market: Strategic Insights
| Market Size Value in | US$ 192.31 Million in 2019 |
| Market Size Value by | US$ 468.99 Million by 2027 |
| Growth rate | CAGR of 11.9% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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MiRNA Sequencing Assay Market Drivers and Opportunities
Increasing Adoption of miRNA Sequencing Assay in Disease Diagnosis Favors the Market
miRNAs plays an important role in the healthcare industry as miRNAs in circulation are considered promising biomarkers for the diagnosis of diseases, as well as in the prognosis. Moreover, the translation of miRNA-based therapy from a research setting to clinical application holds huge potential, which is acting as a driving factor for market growth. miRNAs can be efficiently utilized as biomarkers in diagnosing and prognosis cancers (ovarian, cervical, and breast), sepsis, cardiac diseases, and nervous system conditions.
Furthermore, miRNA assay also helps in the immune response regulation against infectious diseases, showing early changes at the onset of disease and before the pathogen detection. For instance, according to an article published in NCBI, in July 2021, COVID-19 and its early-stage diagnosis was identified with 99.9% accuracy by measuring miRNA (miR-195-5p, miR-23a-3p, and miR-423-5p). These potential applications of miRNA in diagnosing the COVID-19 virus are further propelling the market growth.
Ongoing Extensive Research on miRNA Sequencing Assay– An Opportunity in the MiRNA Sequencing Market
Extensive research related to miRNA assay has contributed to the market growth. For instance, researchers from the Université de Lyon developed BrumiR, an algorithm that can determine miRNAs and directly from sRNA-seq data. Additionally, Several academic institutes are taking the initiative to accelerate research related to miRNA sequencing and assay. For instance, the University of Manchester researchers created a database of miRNAs that have become an important resource in academia and the biotechnology industry. Such research activities pertaining to miRNA sequencing assay are boosting the market growth.
MiRNA Sequencing Market Report Segmentation Analysis
Key segments that contributed to the derivation of the MiRNA Sequencing Market analysis are product and services, type, technology, and end users.
- Based on Products and Services, the MiRNA Sequencing market is segmented into library preparation and consumables. The consumables held the largest share of the market in 2023.
- By Technology, the market is segmented into Sequencing By Synthesis, Nanopore, and Ion Semiconductor Sequencing. The Sequencing By Synthesis segment held the largest share of the market in 2023. However, the nanopore segment is expected to register the highest CAGR over the forecast period.
- By End User, the market is segmented into Research Institute, Academia, and CROs. The research institute segment held the largest share of the market in 2023.
MiRNA Sequencing Market Share Analysis by Geography
The geographic scope of the MiRNA Sequencing Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America has dominated the MiRNA Sequencing Market. The market growth can be attributed to the rising adoption of miRNA sequencing assay in research studies by using miRNA as a biomarker for diseases such as cancer. Additionally, the rising prevalence of chronic diseases is a major factor in market growth. For instance, researchers from the University of Illinois at Urbana created a novel miRNA point-of-care testing for cancer diagnosis in February 2022. Similarly, according to the study published in Biosensors (Basel) in July 2023, with advantages of miRNA such as sensitivity, efficiency, cost-saving, and ease to operate, point-of-care testing (POCT) is being used widely in the detection of miRNA.
Furthermore, the presence of key market players such as Thermo Fisher Scientific, and Illumina, Inc. who are involved in increasing R&D activities for novel diseases is another contributing factor to market growth. For instance, in 2020, Illumina, Inc. invested USD 682 million in R&D to advance its sequencing technology and develop new sequence analysis technology, thereby fueling the overall market growth of North America's miRNA sequencing assay.
MiRNA Sequencing Market Report Scope
MiRNA Sequencing Market News and Recent Developments
The MiRNA Sequencing Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the MiRNA Sequencing market:
- HTC Molecular Diagnostics Inc. unveiled new features of its proprietary HTG EdgeSeq technology. The company has improved its technology, and now its new sample preparation harmonization enables miRNA and mRNA profiling without the need for additional samples. Source: https://www.mordorintelligence.com/industry-reports/mirna-sequencing-and-assay-market. (Source: HTC Molecular Diagnostics, Press Release/Company Website/Newsletter, April 2022)
- Allogene Therapeutics collaborated with Antion Biosciences to advance multiplex gene silencing for the development of next-generation allogeneic CAR T products. As part of the collaboration, Antion's miRNA technology (miCAR) will be used as an additional tool to enhance the efficacy and safety of allogeneic CAR T therapies. (Source: Biocartis, Press Release/Company Website/Newsletter, Jan 2022)
- Lexogen, a pioneer in the field of genomics and transcriptomics, is proud to introduce the groundbreaking LUTHOR High-Definition Single Cell 3’ mRNA-Seq Kit, a game-changing innovation that sets new standards in single-cell RNA sequencing. (Source: Lexogen, Press Release/Company Website/Newsletter, Jan 2022)
MiRNA Sequencing Market Report Coverage and Deliverables
The “MiRNA Sequencing Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product , Technology , and End User By Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, RoAPAC, RoE, RoMEA, RoSCAM, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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