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The global microRNA market size is expected to experience significant growth by reaching USD 613.2 million by 2027. The growth is attributable to the increasing number of clinical trials to treat chronic disease worldwide. Fortune Business Insights in its latest report, titled, “MicroRNA Market Size, Share & Covid-19 Impact Analysis, By Product (Instruments and Kits & Reagents) By Application (Isolation & Purification, Detection & Quantification, Disease Diagnostics, and Others) and By End User (Pharma & Biotech Companies, Academic & Research Institutes, Healthcare Facilities, and Others), 2020-2027.”, mentions that the market stood at USD 215.4 million in 2019 and is projected to exhibit a CAGR of 13.4% between 2020 and 2027.
Thermo Fisher Scientific Acquires QIAGEN N.V. to Expand its Specialty Diagnostic Portfolio
In March 2020, Thermo Fisher Scientific, a global leader in scientific diagnostics, announced the acquisition of QIAGEN N.V., a leading provider of molecular diagnostics and other technologies. The acquisition is worth USD 11.5 billion and is likely to expand Thermo’s specialty diagnostics offerings that include superior testing capabilities of infectious diseases. Additionally, it will consolidate its position in the field of microRNA by offering innovative bioinformatics and assay technologies to pave way for the development of novel treatment procedures for chronic diseases. Such developments between the major companies is anticipated to favor the growth of the global market for microRNA.
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Increasing Clinical Trials to Treat Chronic Ailments to Promote Growth
The higher prevalence of chronic ailments is driving the need for advanced R&D to find treatment solutions across the globe. The increasing clinic trials and ongoing studies to evaluate the efficacy of microRNA in treating diseases such as cancer, liver disease, heart ailments, and others is expected to bode well for the market growth. MiRNAs are adopted as modulators for drug resistance, along with being biomarkers for several pathogenic conditions. Therefore, the increasing number of clinical trials is expected to boost the global miRNA market growth in the forthcoming years.
Merger and Acquisition by Prominent Companies to Strengthen Their Market Positions
The global market is consolidated by the presence of major companies that are striving to acquire other small companies to expand their microRNA-based treatment offerings and further strengthen their positions in the global marketplace. Moreover, the adoption of strategies such as collaboration, the introduction of new products, and facility expansion by other key players is expected to contribute to the market growth.
List of the Companies Profiled in the Global Market:
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Value (USD million)