Market Trends of MiRNA Sequencing And Assay Industry
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.
