miRNA Tools and Services Market Overview:
miRNA Tools and Services Market was valued at $146 million in 2015 and is expected to garner $620 million by 2022, registering a CAGR of 23.4% during the forecast period 2016 - 2022.
MicroRNAs are a class of non-coding RNAs that play a major role in regulating gene expressions. These molecules work at the post-transcription level and modify the expression of around 30% of all mammalian protein-encoding genes. The market is expected to witness significant growth owing to the rise in incidence of cancer and cardiovascular diseases. Moreover, use of bioinformatics and technologically advanced systems (such as NGS) are set to drive the market growth and the potential of miRNAs to act as candidates for diagnostic biomarkers are anticipated to further contribute to the demand for miRNA globally. However, the challenges related to quantification and the development of in-house miRNA research tools such as microarrays are expected to impede the market growth.
Cancer is the leading cause of death in Canada and accounts for almost 30% of the total deaths. According to GLOBOCAN estimates, in Mexico, approximately 196,737 new cases of cancer were diagnosed in 2015. This number is further expected to increase to 246,802 by 2025. In addition, according to American Cancer Society (ACS), cancer accounts for nearly one out of every four deaths in the U.S. According to GLOBOCAN, in 2012, there were nearly 1,604 new cases of cancer per 100,000. The overall age standardized cancer incidence rate for the same year is almost 5.9% higher in men than in women, with rates of 825 and 779 per 100,000, respectively. Hence there is a pressing need for the cancer detection and diagnosis technology, which in turn is expected to stimulate the market for miRNA.
Estimated Number of People Living With Cancer
Asia-Pacific possesses high market potential, owing to the rise in incidence of chronic disorders and increase in researches undertaken to explore the role of microRNAs in the development, treatment, and diagnosis such as cancer. For instance, in May 2015, Researchers from Agency for Science, Technology, and Research (A*STAR) Bioprocessing Technology Institute and the National University of Singapore developed an algorithm and miRNA detection technology for diagnosing cancer non-invasively. The test involves detecting microRNAs (which indicates the presence of tumors) from a few drops of blood, thus making them an excellent biomarker of the disease. Therefore, the aforementioned factors are expected to upsurge the demand for miRNA in the region.
Indonesia: miRNA Tools and Services Market ($Million), 2014-2022
Moreover, research funding granted by various organizations for miRNA research has also contributed to the market growth. For instance, on January 12 2017, Damon Runyon Cancer Research Foundation (U.S.) granted fellowship to 16 scientists for supporting translational cancer research. One of the recipients of the award Kurt J. Warnhoff, is conducting his research to examine new genes and pathways that in turn modifies miRNA biogenesis, which results in cancer development. Similarly, in April 2013, Firefly BioWorks awarded $120,000 research grants to scientists to expand their work on twelve different miRNA projects.
The key players profiled in this report are as follows QIAGEN (Exiqon), Thermo Fisher Scientific Inc., Illumina, Inc., Agilent Technologies, GE Healthcare Dharmacon Inc., GeneCopoeia, Inc., Promega Corporation, Bio-Rad Laboratories, Inc., Merck & Co., Inc. and New England Biolabs Other players operating in the miRNA tools and services market include WaferGen Biosystems, NanoString Technologies, Inc., HTG Molecular Diagnostics, Inc., OriGene Technologies, Inc., Quantabio, Miltenyi Biotec, and Norgen Biotek Corp.
- The study provides an in-depth analysis of the global miRNA tools and services market, with current trends and future estimations, to elucidate the imminent investment pockets.
- Quantitative analysis from 2014 to 2022 is expected to enable the stakeholders to capitalize on prevailing market opportunities.
- The report provides actual historical figures for 2014 and year-on-year forecasts from 2016 to 2022, considering 2015 as base.
- Comprehensive analysis across all regions is provided to determine the prevailing opportunities.
- Extensive analysis is conducted by keenly monitoring the key product positioning and the top contenders within the market framework.
miRNA Tools and Services Market Key Segments:
The global miRNA tools and services market is segmented based on product and services, technology, end user, and region.
By Product and Services
- Research Tools
- Other consumables
- miRNA Extraction Services
- Quantification Services
- Microarray Services
- Sequencing Services
- Functional Studies Services
- Extraction Tools
- Functional Analysis Tools
By End User
- Research & Academic Institutes
- IVD, Pharma & Biotech Companies
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- Republic of South Africa
- Rest of LAMEA