MiRNA Sequencing and Assay Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 5.60 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
MiRNA Sequencing and Assay Market Analysis
The MiRNA Sequencing And Assay Market is expected to register a CAGR of 5.60% during the forecast period.
The factors responsible for the growth of the market include the growing burden of chronic diseases, reduced cost of sequencing, and increasing research on genomics.
Key drivers propelling the global genomic sequencing market include expanding applications in clinical diagnosis, a surging need for diagnosing rare diseases, heightened R&D in genomics and next-generation sequencing, and an escalating appetite for precision medicine. For instance, an article published in the British Medical Journal in March 2022 reported that genomic sequencing, once reserved for a select few, is now becoming a routine diagnostic tool for rare childhood genetic diseases. The article highlighted that next-generation sequencing could swiftly sequence hundreds or even thousands of genes, all at a significantly reduced cost. Given these advantages, the market studied is poised for substantial growth in the coming years.
Furthermore, as the burden of chronic diseases mounts, the demand for miRNA sequencing is set to surge, propelling market growth through the forecast period. For instance, as per the Australian Institute of Health and Welfare, the country recorded 14,800 lung cancer cases in 2023, as compared to 14,529 lung cancer cases in 2022. Furthermore, in September 2023, according to a study published in the Journal of Cancer Epidemiology, Biomarkers, and Prevention, there were 1,019,000 cancer cases reported in Japan in 2022, with the number of cases projected to reach 3,665,900 by 2050. Thus, the high prevalence of cancer cases is expected to bolster the demand for miRNA sequencing over the forecast period.
Investments in genomics have increased in recent years, with companies such as Ultima Genomics and Deep Genomics receiving significant funding for their sequencing and AI discovery platforms. Despite this growth, the market for miRNA sequencing may be hindered by a lack of expertise and computing infrastructure. In July 2022, HTC Molecular Diagnostics Inc. unveiled advanced features of its proprietary HTG EdgeSeq technology. The company improved its technology, and its new sample preparation harmonization enables miRNA and mRNA profiling without the requirement for additional samples.
Similarly, in January 2022, Allogene Therapeutics partnered with Antion Biosciences to propel the evolution of next-gen allogeneic CAR T products through multiplex gene silencing. In this collaboration, Antion's miRNA technology, known as miCAR, will play a pivotal role in bolstering the effectiveness and safety of these therapies.
Overall, the market for miRNA sequencing is anticipated to witness strong growth due to the increasing demand for effective infectious disease treatments and the critical role of miRNAs in cancer diagnosis and treatment. However, addressing the challenges related to expertise and computing infrastructure will be crucial for sustaining this growth.
MiRNA Sequencing and Assay Market Trends
Library Preparation Kits Projected to Hold the Largest Market Share
The growth of the library preparation kits segment is driven by two main factors: the capacity of these kits to shorten the RNA fragmentation process and an increase in research activities related to complex life science processes. Furthermore, the increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, diabetes, and rare diseases is driving the demand for effective treatment options, propelling the growth of the miRNA market. The adoption and advancement of next-generation sequencing methods and their applications in various fields are also expected to contribute to the growth of the miRNA sequencing market in the forecast period.
For example, Qiagen's QIAseq miRNA Library Kit is an advanced kit that includes gel-free miRNA sequencing library preparation from 1 ng of total RNA. The kit eliminates adapter dimers and undesired RNA species to ensure the highest fidelity and effective data. It incorporates Unique Molecular Indices (UMIs) for quantitatively measuring individual miRNA molecules and connects directly to the RNA-seq analysis portal for human, mouse, and rat samples. The availability of such advanced kits in the market is expected to drive the segment's growth over the forecast period.
The growing burden of cancer is expected to contribute to the segment’s growth over the forecast period. For instance, according to the American Cancer Society 2024 update, about 2.0 million new cancer cases were estimated to be reported in 2024 as compared to 1.93 million cases in 2023 in the United States. With the increasing number of cancer cases, the use of library preparation kits is also increasing, which is further propelling the segment's growth.
Moreover, product launches by market players are expected to boost the segment over the forecast period. For instance, in May 2024, QIAGEN unveiled its latest offering, the QIAseq Multimodal DNA/RNA Library Kit. This innovative kit streamlines the process of preparing DNA and RNA libraries for next-generation sequencing (NGS), including applications like whole genome sequencing (WGS) and whole transcriptome sequencing (WTS). Moreover, it facilitates downstream target enrichment through hybrid capture, all from a single sample.
Thus, all aforementioned factors, such as the growing burden of cancer and increasing product launches, are expected to boost the segment’s growth over the forecast period.
North America Expected to Hold a Significant Market Share Over the Forecast Period
The market for miRNA sequencing and assays in North American countries is expected to experience significant growth during the forecast period. This growth can be attributed to several factors, including an increased incidence of cancer, rising demand for next-generation sequencing (NGS) and miRNA sequencing services, applications in drug development, and the adoption of the latest miRNA sequencing technology.
The growing burden of cancer is expected to increase demand for effective diagnosis, and personalized treatment plans are expected to contribute to the growth of the market over the forecast period. For instance, in September 2023, the Government of Canada reported that about 28,600 Canadian women were diagnosed with breast cancer in 2022, representing 25% of all new cancer cases in women in 2022. This high incidence and mortality rate associated with cancer increases the demand for precision medicines and treatments for patients, subsequently increasing the demand for miRNA sequencing and assay techniques and driving the market.
Furthermore, the presence of key players such as Illumina Inc. and Thermo Fisher Scientific, along with increased research and development spending by companies to develop innovative and advanced products in the United States, is expected to drive regional growth. For instance, in February 2022, researchers at the University of Illinois Urbana developed a new miRNA point-of-care test for cancer detection. The test uses nanoparticles to capture tumor-specific microRNAs in human serum.
Therefore, due to the aforementioned factors, the miRNA sequencing and assay market will experience significant growth in the North American region.
MiRNA Sequencing and Assay Industry Overview
The miRNA sequencing and assay market is semi-consolidated and consists of several key players. Currently, a few major players are dominating the market in terms of share, while others are actively making acquisitions and launching new products to strengthen their market positions globally. Among the leading companies in the market are Illumina Inc., Thermo Fisher Scientific, Qiagen NV, Perkinelmer Inc., and Takara Bio Inc. These companies have a strong presence in the market and offer a wide range of miRNA sequencing and assay products to meet the needs of their customers.
MiRNA Sequencing and Assay Market Leaders
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Illumina, Inc.
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Thermo Fisher Scientific
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Qiagen N.V.
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Perkinelmer, Inc.
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Takara Bio, Inc.
*Disclaimer: Major Players sorted in no particular order
MiRNA Sequencing and Assay Market News
- November 2023: Fluent BioSciences announced a partnership with Singular Genomics, a company leveraging novel next-generation sequencing (NGS) and multiomics technologies to empower researchers and clinicians. Together, they unveiled the compatibility of PIPseq Single Cell RNA Kits with sequencing on the Singular Genomics G4 Sequencing Platform.
- May 2023: Twist Bioscience Corporation announced the launch of a portfolio of RNA sequencing tools, which included the Twist RNA Exome, Twist RNA Library Prep Kit, and the Twist Ribosomal RNA (rRNA) & Hemoglobin (Globin) Depletion Kit, as well as custom target enrichment capabilities for RNA and whole transcriptome sequencing.
miRNorth America Sequencing & Assay Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Supremacy of miRNA Sequencing and Assay Sequencing Over Other Methods
4.2.2 Increased Research in the Field of Genomics
4.2.3 Reduced Sequencing Costs
4.3 Market Restraints
4.3.1 Paucity of Experts and Need for Computing Infrastructure
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size - Value in USD)
5.1 By Product
5.1.1 Sequencing Consumables
5.1.2 Library Preparation Kits
5.2 By Technology
5.2.1 Sequencing by Synthesis
5.2.2 Ion Semiconductor
5.2.3 SOLiD
5.2.4 Nanopore Sequencing
5.3 By End User
5.3.1 Clinical Laboratory
5.3.2 Life Science Organization
5.3.3 Other End Users
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Illumina Inc.
6.1.2 Thermo Fisher Scientific
6.1.3 Qiagen NV
6.1.4 PerkinElmer Inc.
6.1.5 Takara Bio Inc.
6.1.6 New England Biolabs Inc.
6.1.7 Norgen Biotek Corporation
6.1.8 Trilink Biotechnologies
6.1.9 Lexogen
6.1.10 Oxford Nanopore Technologies
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
MiRNA Sequencing and Assay Industry Segmentation
miRNA sequencing is a type of RNA-seq that uses next-generation sequencing or massively parallel sequencing of high-throughput DNA to pattern microRNAs. The substance used during the method of decoding miRNA sequencing is a bit different from RNA sequencing.
The miRNA sequencing and assay market is segmented by product, technology, end user, and geography. By product, the market is segmented into sequencing consumables and library preparation kits. By technology, the market is segmented into sequencing by synthesis, ion semiconductor, SOLiD, and nanopore sequencing. By end user, the market is segmented into clinical laboratories, life science organizations, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The report also covers the estimated market sizes and trends for 17 countries across major regions globally.
The report offers the market sizes and forecasts in value (USD) for the above segments.
| By Product | |
| Sequencing Consumables | |
| Library Preparation Kits |
| By Technology | |
| Sequencing by Synthesis | |
| Ion Semiconductor | |
| SOLiD | |
| Nanopore Sequencing |
| By End User | |
| Clinical Laboratory | |
| Life Science Organization | |
| Other End Users |
| Geography | ||||||||
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miRNorth America Sequencing & Assay Market Research FAQs
What is the current MiRNA Sequencing And Assay Market size?
The MiRNA Sequencing And Assay Market is projected to register a CAGR of 5.60% during the forecast period (2024-2029)
Who are the key players in MiRNA Sequencing And Assay Market?
Illumina, Inc., Thermo Fisher Scientific, Qiagen N.V., Perkinelmer, Inc. and Takara Bio, Inc. are the major companies operating in the MiRNA Sequencing And Assay Market.
Which is the fastest growing region in MiRNA Sequencing And Assay Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in MiRNA Sequencing And Assay Market?
In 2024, the North America accounts for the largest market share in MiRNA Sequencing And Assay Market.
What years does this MiRNA Sequencing And Assay Market cover?
The report covers the MiRNA Sequencing And Assay Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the MiRNA Sequencing And Assay Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
miRNA Sequencing and Assay Industry Report
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