MicroRNA Market Size to Reach USD 15.5 Bn by 2033 | TMR Study
The global microRNA market growth is driven by the increase in trend of utilizing microRNA therapeutics to treat chronic diseases and surge in R&D in microRNA-based biomarkers and diagnostics in multiple human diseases.
Wilmington, Delaware, United States, March 31, 2023 (GLOBE NEWSWIRE) — According to recent study by Transparency Market Research, the global microRNA market was values USD 1.2 Bn in 2023. It is projected to expand at a CAGR of 29.4% from 2023 to 2033 to reach USD 15.5 Bn by 2033.
Increase in number of microRNA (miRNA)-based therapeutics in clinical testing phase for development of therapies for cancer and cardiovascular diseases has broadened the microRNA market outlook. Recent market trends indicate that biotechnology & pharmaceutical companies are increasing R&D activities in order to offer safe and effective miRNAs therapeutics for a number of human diseases.
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|Market Revenue||USD 1.2 Bn in 2023|
|Estimated Value||USD 15.5 Bn by 2033|
|No. of Pages||250 Pages|
|Market Segmentation||By Services, Products, Application, and End-Use|
|Regions Covered||North America, Europe, Asia Pacific, Middle East & Africa, South America|
|Companies Covered||Merck KGaA, Thermo Fisher Scientific, Horizon Discovery, Synlogic, QIAGEN, GeneCopoeia, New England Biolabs, Quantabio, NanoString, BioGenex, SeqMatic|
Surge in usage of consumables is anticipated to offer significant business opportunities in the microRNA market. The consumable segment is projected to advance at a CAGR of more than 28.5% from 2023 to 2033. Rise in R&D in novel RNA-based therapeutics to treat cancer is expected to augment the market outlook. Advancement in proteomics and genomics is likely to drive the development of miRNA-based therapeutics. For instance, miRNAs are used as novel diagnostic biomarkers for several heart disorders/diseases such as heart failure, arrhythmias, and acute myocardial infarction.
Significant usage of real-time PCR instruments for microRNA identification is expected to augment market expansion. These are effective in quantifying circulating miRNAs. Recent industry interest in harnessing qPCR-based methods for miRNA expression analysis is likely to create attractive business opportunities for companies in the global microRNA industry.
Global MicroRNA Market – Key Findings of Study
- Rise in Demand for microRNA Therapeutics to Manage Multiple Chronic Diseases: MicroRNA therapeutics is gaining traction to treat and manage chronic diseases. Micro RNAs are viewed as targets for novel therapeutic approaches. High prevalence and surge in incidence of chronic diseases, especially cancer, diabetes, and cardiovascular diseases, has increased the need for novel RNA-based therapeutics. MicroRNAs are being adopted in biomarkers, diagnostics, and therapeutics in a broad range of human diseases. Studies on novel biomarkers based on miRNAs are therefore likely to fuel the microRNA market.
- Continuous R&D in Novel RNA-based Therapeutics to Propel Market Development: Companies are working to enhance safety and efficacy of novel RNA-based therapeutics. They are developing effective strategies for safe delivery of miRNA therapeutics to the target tissue in patients. Continuous advancement in disease models for effective miRNA-mediated gene regulation is anticipated to bolster market growth in the near future. Translational research of microRNAs is likely to gain momentum due to rise in demand for advanced diagnostic markers and therapeutic targets for cancer and kidney diseases.
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MicroRNA Market – Key Drivers
- Surge in number of clinical and preclinical studies on new-generation therapeutics is a key trend likely to propel the microRNA market. A number of studies are focusing on evaluating miRNA therapeutics to treat cancer. For instance, research is being conducted to understand the effect of microRNA gene expression deregulation in breast cancer.
- Rise in global healthcare spending to manage diabetes, viral infections, cardiovascular diseases, and neurodegenerative diseases is anticipated to bolster market development
- Prevalence of chronic diseases globally has intensified the need for novel therapies and is likely to pave the way for clinical adoption of miRNA therapeutics
Global MicroRNA Market: Regional Growth Dynamics
- North America held leading share of the global microRNA market in 2022. Surge in adoption of novel RNA-based therapeutics for a range of chronic diseases, especially in the U.S., is anticipated to propel the market. Furthermore, rise in demand for novel mi-RNA therapies to treat cancer is likely to accelerate market development in the region. Rise in number of product launches in the past few years has bolstered market progress in North America.
- Asia Pacific is a lucrative market for microRNA. Presence of a large patient population, especially those suffering from cardiovascular disorders, is likely to spur demand for microRNA therapies in the region in the near future. The market in Asia Pacific is also driven by rapid expansion of medical tourism in developing countries. The market in South Korea and Japan is expected to reach US$ 1 Bn and US$ 245 Mn, respectively, by 2033.
MicroRNA Market: Competition Landscape
Leading players are focusing on strengthening distribution networks across different geographies in order to gain competitive advantage over other companies. Several players have adopted inorganic growth strategies in order to consolidate their market position in developing countries.
Key players operating in the microRNA industry are Merck & Co., Inc., Thermo Fisher Scientific, Horizon Discovery, SynLogics, QIAGEN, Quantabio, NanoString Technologies, BioGenex, Miltenyi Biotec, Sistemic Scotland Limited, and Origin Tech Private Limited.
Browse in-depth TOC on “MicroRNA Market Trends, Growth Drivers”:
30 – Tables
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250 – Pages
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MicroRNA Market Segmentation
- Whole Blood
- Fresh Frozen Tissue
- Other Specimens
- Service Type
- Isolation and purification
- microRNA cDNA Synthesis
- Profiling, Localization, and Quantification
- Functional Analysis
- Cardiovascular Disease
- Neurological Disease
- Immunological Disorder
- Infectious Disease
- Biotechnology & Pharmaceutical Companies
- Academic & Government Research Institutes
- North America
- Latin America
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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