Global miRNA Sequencing and Assay Market is Expected to Reach at a CAGR of 11.42% from 2018 to 2025
A new research report published by Fior Markets with the title miRNA Sequencing and Assay Market by Product (Sequencing Consumables, Library Preparation Kits), Technology, End User, Regions, and Global Forecast 2018-2025.
As per the report, the global miRNA sequencing and assay market is expected to grow from USD 173.58 Million in 2017 to USD 412.29 Million by 2025, at a CAGR of 11.42% during the forecast period from 2018-2025. The North America region led the global demand for the miRNA sequencing and assay with a 39.71% share of market revenue in 2017.
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Major players in the global miRNA sequencing and assay market are Illumina Inc., Thermo Fisher Scientific Inc., Qiagen N.V., Takara Bio Inc., New England Biolabs, Inc., Perkinelmer, Inc., Norgen Biotek Corporation, Trilink Biotechnologies, Lexogen, Oxford Nanopore Technologies, F. Hoffmann-La Roche Ltd., Bio-Rad Laboratories Inc., Sigma Aldrich Corp., HTG Molecular Diagnostics, Inc., Rosetta Genomics Ltd., Kaneka Corporation, Abcam PLC., Meridian Bioscience, Inc, System Biosciences LLC, and among others. The miRNA sequencing is becoming an integral part of the cancer and stem cell research activities. Thus, major firms are increasingly focusing on launching the new specifically developed products for this particular segment. For instance Bioline, a wholly-owned subsidiary of Meridian Bioscience, Inc., in 2015, announced the launch of EPIK miRNA Panel Assays. These arrays are specifically developed for miRNA profiling of cancer samples, biofluids, and stem cells.
The product segment is divided into sequencing consumables and library preparation kits. The sequencing consumables segment emerged as the leader in the global miRNA sequencing and assay market with a 58.82% share of market revenue in 2017. On the other hand, the library preparation kits segment is anticipated to grow at an accelerated CAGR of 13.67% over the forecast period. The technology segment is categorized into sequencing by synthesis, ion semiconductor, SOLiD, and nanopore sequencing. Owing to the factors such as reduction in the cost of sequencing coupled with advancements in sequencing by synthesis platforms, the sequencing by synthesis segment dominated the global miRNA sequencing and assay market with a 37.61% share of market revenue in 2017. The end user is segmented into academic and research institutes and contract research organizations. Owing to the increase in the research grants for the purpose of genomic research, the academic and research institutes segment led the global miRNA sequencing and assay market with a 68.27% share market revenue in 2017.
Although the factors such as superiority of miRNA sequencing over other techniques coupled with significant reduction in the cost of sequencing are driving the global miRNA sequencing and assay market. The threat of potential artifacts error and high cost infrastructure requirements are projected to restrain the market growth.
About the report:
The global miRNA sequencing and assay market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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