Demand for disease biomarker upswings microRNA market

calendar_today 30 August, 2022 person_outline Growth Plus Reports

According to the deep-dive market assessment study conducted by Growth+ Reports, the global microRNA market was pegged at ~US$ 264.4 million in 2021. The market is expected to witness a CAGR of ~13.8% from 2022 to 2030. 
The increased development of microRNA tools for disease diagnosis with advanced technology, increased chronic condition prevalence like cancer, cardiovascular diseases, and Alzheimer’s disease; advancement, and adoption of the latest sequencing methods and their application, and increased adoption of microRNA as biomarkers are all factors responsible for driving the growth of global microRNA market. 

However, the high cost associated with microRNA instruments and consumables like kits and reagents restrains the market growth. Also, the toxicity and safety associated with the use of microRNA have made the companies halt the clinical trials related to the development of novel RNA-based therapeutics. 

The increasing number of clinical trials which target the chronic diseases related to microRNA expands its application in clinical and preclinical research. MicroRNA has been significantly utilized as modulators for drug resistance such as in cancer treatment and as biomarkers in various pathogenic conditions. MicroRNAs were considered to be biomarkers for the first time in 2008, for the examination of large B-cell lymphoma. Such a trend definitely has a positive impact on the overall microRNA market.  

The increasing prevalence of chronic and rare diseases such as cancer, cardiovascular disease, and diabetes are key factors driving market growth over the projected period. For example, according to the American Cancer Society, an estimated 36,000 new cancer cases will occur in Wisconsin, the U.S. in 2021. According to Rare Diseases Day, as of 2020, rare diseases are estimated to affect nearly 3.5% to 5.9% of the world's population, with 300 million people living with this disorder. Such predictions directly correlate with the increased utilization of microRNA for clinical diagnostics, thus driving the global microRNA market. 

The increased adoption of microRNA instruments and consumables is facilitated by extensive research activities that aims to determine the possible functions of microRNA (miRNA) in the development of innovative treatments for a variety of disease conditions. In June 2020, researchers in Munich revealed a specific microRNA that aids in the preservation of endothelial cell layer integrity thus lowering the risk of atherosclerosis. 

Also, initiatives by major players in the development of microRNA assays and kits and huge funding by biotechnology companies for the same also contributed to the growth of the microRNA market. Qiagen's QIAseq miRNA Library Kit contains a gel-free miRNA sequencing library prep starting with 1 ng of total RNA. It Includes Unique Molecular Indices (UMI) for quantitatively measuring a single microRNA molecule, eliminating adapter dimers and unwanted RNA species for the highest accuracy and most effective data.  

North America dominates the global microRNA market. This dominance is attributed to several factors such as extensive research and development activities due to the increased prevalence of chronic diseases like cancer, the presence of major key players, investments in fields of genomics, proteomics research, etc.; and well-formed research infrastructure for oncology. Additionally, many companies have patents for microRNA biomarkers. For instance, in 2021 Interspace Bosciences, Inc. has been granted a patent for the use of microRNAs to distinguish benign and malignant thyroid neoplasms. Furthermore, new discoveries concerning the function of microRNAs in disorder improvement have made them a key goal of novel therapeutics approaches. Several microRNA-focused therapeutics for illnesses consisting of most cancers and hepatitis have reached the scientific phase. Santaris Pharma has evolved a healing molecule named Miravirsen that targets miR-122 for the remedy of hepatitis C virus (HCV) infection; the molecule is in Phase II scientific trial.

Some of the prominent players operating in the global microRNA market are Merck KGaA, QIAGEN N.V, Thermo Fisher Scientific, Inc., GeneCopoeia, Inc., BioVendor – Laboratorni medicina A.S., NanoString Technologies, Inc., Takara Bio Inc., LGC Limited, BioGenex, SeqMatic LLC, Biodynamics Laboratory, Inc. and ORIGENE TECHNOLOGIES, INC. among others.

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