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MicroRNA Market to Hit USD 613.2 Million by 2027; Increasing Number of Clinical Trials to Augment Growth

January 22, 2021 | Healthcare

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.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/microrna-market-101237


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.


Industry Development:



  • November 2019 - Novartis acquired The Medicines Company for USD 9.7 billion. The acquisition, according  to the company, will aid in building and developing a pipeline depth in therapeutics and advanced diagnostics.


List of the Companies Profiled in the Global Market:



  • QIAGEN N.V. (Hilden, Germany)

  • Thermo Fisher Scientific (Waltham, U.S.)

  • BioVendor (Brno, Czech Republic)

  • Takara Bio Inc. (Shiga, Japan)

  • Merck KGaA (Darmstadt, Germany)

  • NanoString Technologies, Inc. (Washington, U.S.)

  • Heim Biotek (Seongnam, South Korea)

  • GeneCopoeia, Inc. (Maryland, U.S.)

  • Takara Bio Inc. (Shiga, Japan)

  • Other Prominent Players


Further Report Findings:



  • North America stood at USD 97.4 million in 2019 and is expected to hold the highest position in the global microRNA market in the forthcoming years. The increasing focus on the introduction of innovative microRNA-based diagnostics and solutions by the manufacturers in the region is expected to propel the growth of the market in the region.

  • On the other hand, Europe is expected to hold the second position in the market backed by increasing investment in R&D to develop novel molecular diagnostics in the field of microRNA in the region between 2020 and 2027.

  • Based on application, the disease diagnostics segment is likely to gain momentum in the forthcoming years. This is ascribable to factors such as the increasing need to enhance molecular diagnostics in the backdrop of growing incidence of chronic diseases across the globe. The segment held a market share of about 54.0% in 2019.  


Table of Segmentation:












































 ATTRIBUTE



  DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD million)



Segmentation



By Product



  • Instruments

  • Kits & Reagents



By Application



  • Isolation & Purification

  • Detection & Quantification

  • Disease Diagnostics

  • Others



By End-User



  • Pharma & Biotech Companies

  • Academic & Research Institutes

  • Healthcare Facilities

  • Others



 



By Geography



  • North America (By Product, By Application, By End User, and by Country)

  • Europe (By Product, By Application, By End User, and by Country)

  • Asia-Pacific (By Product, By Application, By End User, and by Country)

  • Rest of the World (By Product, By Application, By End User)


Global MicroRNA Market
  • PDF
  • 2019
  • 2016-2018
  • 126

    CHOOSE LICENSE TYPE

  • 4850
    6850
    8850

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