microRNA Market Revenue is driven by Outbreak of COVID-19

Posted on 2022-11-18 by researchinsights in Healthcare, Industrial, Pharmaceuticals, Technology // 0 Comments

San Francisco, Calif., USA, Nov 18, 2022 — /EPR Network/ —

MicroRNA Industry Overview

The global microRNA market size is expected to reach USD 3.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 19.8% from 2021 to 2028. Extensive research activities targeted towards exploring the potential functions of microRNA (miRNA) to design novel therapeutic solutions against different diseases is set to contribute to the adoption of miRNA instruments and consumables. These studies assist in understanding the mechanism of action of the signaling pathway, further integral to develop miRNA drug candidates.

For instance, in June 2020, Munich researchers have discovered that a specific microRNA helps in preserving the integrity of the endothelium and hence reducing the risk of atherosclerosis. Robust funding in biotechnology companies offering miRNA therapeutics is further propelling the influx of miRNA companies. For instance, in February 2021, InteRNA Technologies received a funding of USD 22.46 million in a Series B funding round, led by AurorA Science, an Italian biotech investment company.

MicroRNA Market Segmentation

Grand View Research has segmented the global microRNA market on the basis of products, services, application, end-use, and region:

Based on the Product Insights, the market is segmented into Instruments and Consumables

The consumables segment dominated the market for microRNA and held the largest revenue share of 59.9% in 2020.
Based on the instruments segment, real-time PCR dominated the market in 2020, with a share of over 32.0% as it is considered a gold standard when compared to other techniques for the detection of miRNA.

Based on the Services Insights, the market is segmented into Service Type and By Specimen

Profiling, localization and quantification services dominated the market for microRNA and held the largest revenue share of over 35.0% in 2020.
Increasing strategic collaboration between companies for providing microRNA profiling services can be primarily attributed to segment growth.
The isolation and purification segment is expected to witness the fastest CAGR of 16.9% over the forecast period owing to the growing focus on the development of new microRNA purification methods.

Based on the Application Insights, the market is segmented into Cancer, Infectious Diseases, Immunological Disorder, Cardiovascular Disease, Neurological Disease, and Others

The cancer segment dominated the market for microRNA and accounted for the largest revenue share of more than 33.0% in 2020.
The cardiovascular disease segment is expected to grow at a lucrative rate of 16.1% during the forecast period owing to the introduction of new molecular biomarkers for the early detection of cardiovascular diseases.

Based on the End-use Insights, the market is segmented into Biotechnology & Pharmaceutical Companies, Academic & Government Research Institutes, and Other end-users

Matched content

Editor’s pick