Market Trends of miRNA Sequencing and Assay Industry
Library Preparation Kits are Expected to Hold the Largest Market Share in the miRNA Sequencing and Assay Market
- 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 sciences 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 contributing 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 most 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.
- According to the American Cancer Society, an estimated 36,000 new cancer cases occurred in Wisconsin in 2021. Additionally, Rare Disease Day reports that rare diseases affected nearly 3.5%-5.9% of the global population in 2020, with over 300 million people living with one or more of over 6,000 identified rare diseases worldwide. With the increasing number of cancer cases, the use of library preparation kits is also increasing, which is further propelling the segment's growth.
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North America Dominates the Market and Expected to do Same in the Forecast Period
- The market for miRNA sequencing and assays in the North American region 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.
- Furthermore, the presence of key players such as Illumina Inc., Thermo Fisher Scientific, and others, 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.
- According to the American Cancer Society, over 1.9 million new cancer cases are expected to be diagnosed in the United States in 2023, and over 609,820 deaths are estimated to occur from cancer. 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.
- 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. Similarly, in March 2021, DiamiR agreed to acquire a Clinical Laboratory Improvement Amendments (CLIA) certified laboratory in New Haven, Connecticut, from Interpace Biosciences. This acquisition will enhance DiamiR's capabilities to develop and commercialize its microRNA-based tests for early detection, differential diagnosis, prediction of progression, and monitoring brain health and other conditions.
- Therefore, due to the aforementioned factors, the miRNA sequencing and assay market will experience significant growth in the North American region.
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