miRNA Tools and Services Market Size, Share, Growth, and Industry Analysis, By Type (Research Tools and Services), By Application (Research & Academic Institutes, Pharma & Biotech Companies and Others) and Regional Forecast to 2031

Updated On: 26 August 2024

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MIRNA TOOLS AND SERVICES MARKET REPORT OVERVIEW

The global miRNA Tools and Services Market size was USD 613.74 million in 2023 and the market is projected to touch USD 3325.3 million by 2032, exhibiting a CAGR of 18.41% during the forecast period.

This is an annotated list of online resources to know more about siRNA; their roles and roles in gene silencing and various processes and illnesses that transpire in an organism. There exist several common types of tools that cover virtually any aspect of miRNA investigation: target identification, target prediction, functional studies and, MiRNA profiling.

COVID-19 Impact: Market Growth increased by the Pandemic due to Shift in Research Focus

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Therefore, COVID-19 boosted literature and extensive analysis on miRNA search, role, and function in SARS-CoV-2 infection and immune response. Researchers have searched for miRNAs in blood to establish biomarkers corresponding to COVID-19 course and outcome. Regarding the research done on miRNAs and Covid 19, funding agencies provided more funds towards Covid 19 research hence creating more researchers to do more studies on miRNAs in relation to the virus.

LATEST TRENDS

"Next-Generation Sequencing (NGS) Technologies to Propel Market Growth"

It is therefore interesting to learn about the new horizon in the miRNA tools and services offered by next-generation sequencing (NGS). The development of new paradigms of NGS make it possible to perform, detailed and with a high throughput analysis of miRNAs, and consequently help to discover them with better sensitivity and accuracy in terms of compared to previous techniques . The capability of analyses of miRNA expression at the single cell level is highly advantageous since it reveals true tissue composition and reveals the function and regulation of miRNAs in many different functions and diseases.

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MIRNA TOOLS AND SERVICES MARKET SEGMENTATION

By Type

Based on type the market can be categorized into Research Tools and Services.

• Research Tools- Some of examples of such technologies are Illumina and Ion Torrent that helps in identification and quantification of miRNAs in the source of biological material. These platforms can enable the identification of new miRNAs and also the study of the expression of the miRNAs.
• Services- Such custom arrays that allow for multiplex analysis of the levels of multiple miRNAs in multiple samples. Currently, many commercial companies like the Affymetrix and Agilent offer microarrays for miRNA.

By Application

Based on application the market can be categorized into Research & Academic Institutes, Pharma & Biotech Companies and Others.

• Research & Academic Institutes- Offering NGS and microarray services to identify the tissue specificity, condition and developmental stage regulation of miRNA expression. Providing databases and services in bioinformatics; molecular biology and diagnostic tools to map, identify or forecast miRNA targets and interactions,including luciferase reporter assays.
• Pharma & Biotech Companies- Identification of novel miRNA biomarkers for diagnosis of diseases, their, and their extent, and patients’ properties that allows for management of the disease according to a specific patient’s needs. For discovering new targets for therapy and new dealing pathways that can be activated in diseases such as; cancer, cardiovascular diseases and neurological diseases utilizing miRNA profiling.

DRIVING FACTORS

"Growing Interest in Personalized Medicine to Drive Market Advancement"

One of the key driving factors in the miRNA Tools and Services market growth is the Growing Interest in Personalized Medicine. Thus, the current rising popularity of customized medication is one of the major driving forces behind the growth of the businesses related to miRNA tools and services because these molecules guarantee the definition of different diseases. The concept of personalized medicine can be defined as the use of genetic data to base the medical treatment on the individual features of a patient and miRNA profiling can be regarded as the efficient tool to work with the molecular profiles of patients. Knowledge of miRNA expression profiles allows researchers and clinicians to look for specific ‘fingerprint’ of such or stafe disease or response to certain treatment.

"Increasing Prevalence of Chronic and Infectious Diseases to Expand the Market"

The rise in incidence of chronic and infectious diseases also contribute to the miRNA tools and services market due to their roles in the development, progression and management of the diseases. The emergent diseases like cancer, cardiovascular diseases, diabetes, AND neurodegenerative disorders, downtrodden by infectious diseases like COVID 19 have had to call for a more advanced biological diagnosis and treatment solutions. Thus, miRNAs show great promise as diagnostic markers for the early stage, treatment response assessment, and prognosis of diseases since these molecules are relatively stable in blood and other body fluids, and exhibit disease-specific expression profiles.

RESTRAINING FACTOR

"High Costs and Technical Challenges Poses Potential Impediments to Market Growth "

Expenses and complexity are constraints for the miRNA tools & services market, which slows down the development and popularization of the new technologies. First of all, the cost related to miRNA research and development at its initial stages is rather high. Newer platforms like NGS platforms and specialized software take a lot of money to attain as well as to maintain. Such costs are relatively painful for SC establishments, especially smaller RIs, academic labs, and start-ups with restricted budgets. Besides, other costs associated with reagents, consumables, and manpower also add to the costs because of skillfulness. Secondly, technical limitations in the studies on miRNA are the issues that seem to be critical.

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MIRNA TOOLS AND SERVICES MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

North America to Dominate the Market due to Advanced Research Infrastructure

North America has emerged as the most dominant region in the miRNA Tools and Services market share due to a convergence of factors that propel its leadership in this dynamic industry. North America, and particularly the USA, offer certain research assets, which include the research universities, research laboratories, and biotechnology businesses. This enables a large level of Research and Development in the technologies of miRNA.

KEY INDUSTRY PLAYERS

"Key Players Transforming the miRNA Tools and Services Landscape through Innovation and Global Strategy"

Major industry players are pivotal in shaping the miRNA Tools and Services market, driving change through a dual strategy of continuous innovation and a well-thought-out global presence. By consistently introducing inventive solutions and staying at the forefront of technological progress, these key players redefine the industry's standards. Simultaneously, their expansive global reach enables effective market penetration, addressing diverse needs across borders. The seamless blend of groundbreaking innovation and a strategic international footprint positions these players as not only market leaders but also as architects of transformative shifts within the dynamic domain of miRNA Tools and Services.

List of Market Players Profiled

• Bio-Rad Laboratories, Inc. (S.)
• Miltenyi Biotec(Germany)
• System Biosciences, LLC (S.)
• New England Biolabs (S.)
• HTG Molecular Diagnostics, Inc. (U.S.)

INDUSTRIAL DEVELOPMENT

 2023: Biomatrik was recently targeted at $4 by Thermo Fisher Scientific as a part of strategic deal. 5 billion. From this acquisition, Thermo Fisher will immensely expand its portfolio in the miRNA Tools and Services business.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.