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Global microRNA (miRNA) Market to Reach $485.3 Million by 2026

miRNAs or microRNAs, non-coding short RNA molecules regulate gene expression by attaching to target mRNAs, leading to gene silencing and translational repression. Commonly found among plants, animals, and certain viruses, microRNAs or miRNAs are RNA molecules that have a critical role in regulating gene expression as well as RNA silencing. Key drivers propelling growth in the global microRNA market include greater awareness, increasing emphasis on R&D activities, growth of advanced and well-organized technology, rising government initiatives globally, escalating government investments in healthcare, along with advances in genomic technologies and molecular biology. The growth of microRNA in oncology can be attributed to the growing burden of cancer as well as other cardiovascular diseases, broader therapeutic applications, lowering the cost of sequencing, and greater acceptance of the technology. Rising microRNA adoption in emerging countries such as India, China, among others will offer new growth opportunities. The growing use of microRNA biomarkers is augmenting growth in the market. Such biomarkers play a particularly important role in data-driven approaches, genome-wide population-based studies because they show high reproducibility and robustness in comparison to conventional procedures. Furthermore, the growing relevance of liquid biopsies is further driving its popularity in the discovery and development of biomarkers. However, intensified demand for highly skilled personnel and challenges regarding in-house development are major hurdles to growth in the global market.

Amid the COVID-19 crisis, the global market for microRNA (miRNA) estimated at US$282.6 Million in the year 2022, is projected to reach a revised size of US$485.3 Million by 2026, growing at a CAGR of 13.8% over the analysis period. Products, one of the segments analyzed in the report, is projected to record 12.2% CAGR and reach US$290.1 Million by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 15.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $120.5 Million in 2022, While China is Forecast to Reach $50.7 Million by 2026

The microRNA (miRNA) market in the U.S. is estimated at US$120.5 Million in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$50.7 Million by the year 2026 trailing a CAGR of 17.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.1% and 13% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.5% CAGR. The North American region dominates the global market, owing to technological advances, government support, and excellent medical reimbursement facilities. Ever-increasing clinical trials seeking to develop novel diagnostics and therapeutics, particularly in the US, is another key growth driver. Growth in the Europe market is because of increased funding towards research in countries like Germany to encourage the entry of startups in the molecular diagnostics industry, particularly in microRNA. The microRNA market in Asia Pacific is likely to gain considerable momentum due to increasing consumer awareness, rapid growth in population, supportive government policies, healthcare infrastructure modernization, and escalating foreign investments in developing nations like India and China in the regional market. The Asia Pacific region will also be driven by advances in proteomics and genomics along with increasing adoption of novel tools that help meet research goals.