MiRNA Sequencing And Assay Market Size (2024 - 2029)

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 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.