MiRNA Tools and Services Market Expected to Reach $1.8 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “MiRNA Tools and Services Market," The mirna tools and services market was valued at $311.86 million in 2021, and is estimated to reach $1.8 billion by 2031, growing at a CAGR of 19.3% from 2022 to 2031.

All eukaryotic cells have micro-RNA as a genetic component. These are essential components of gene expression in both animal and plant cells, and thus essential for normal cell function. RNA interference drug development and therapies are important for microRNA since the goal of RNA-targeted research is to regulate and control gene expression. Long-term incurable diseases like AIDS and cancer have been linked to abnormal gene expression in recent studies. Micro-RNA research could possibly provide a solution to one of medicine's most vexing difficulties.

The major factors that drive global miRNA tools and services market are rise in the adoption of miRNA instruments and consumables, which is expected to be aided by extensive research activities aimed at determining the possible functions of microRNA (miRNA) in the development of novel therapeutic treatments for a variety of disorders. These investigations aid in understanding the signaling pathway's mechanism of action, which is crucial for developing miRNA therapeutic candidates. For example, Munich researchers revealed in June 2020 that a certain microRNA helps to maintain the integrity of the endothelium, lowering the risk of atherosclerosis. The inflow of miRNA research is being fueled by strong funding in biotechnology companies that offer miRNA treatments. For example, InteRNA Technologies obtained $22.46 million in a series B fundraising round sponsored by AurorA Science, an Italian biotech investment firm, in February 2021. Furthermore, investigations have revealed that these miRNAs play a role in the host's response to coronavirus and other respiratory viruses. As a result, utilizing sequencing tools to analyze variations in miRNA expressions will help researchers better understand the pathophysiology of chronic respiratory infections. 

The market is expected to witness significant growth owing to the rise in incidence of cancer and cardiovascular diseases. Moreover, use of bioinformatics and technologically advanced systems (such as NGS) are set to drive the market growth and the potential of miRNAs to act as candidates for diagnostic biomarkers are anticipated to further contribute to the demand for miRNA globally. However, the challenges related to quantification and the development of in-house miRNA research tools such as microarrays are expected to impede the market growth.

Technological developments are a new trend in Micro RNA research, resulting in significant progress in miRNA technology. In recent years, manufacturers and researchers have been inspired to develop new solutions due to increased technological improvements in the essential phases of miRNA expression profiling, target gene identification, and validation. HTG Molecular Diagnostics Inc, for example, launched a comprehensive panel for miRNA expression analysis, the HTG EdgeSeq mouse miRNA whole transcriptome test, in August 2018, for use in preclinical functional investigations and translational medicine. Furthermore, continuing research and clinical trials for miRNA broaden its clinical and preclinical research uses. A rising body of evidence suggests that miRNAs have great utility as drug resistance modulators, biomarkers for pathogenic diseases, or medicines for medical intervention in human health disorders. As a result, increasing the number of clinical trials for evaluating the efficacy of miRNA in the treatment of many chronic illnesses is one of the significant factors fueling the growth of the miRNA market throughout the forecast period

The miRNA tools and services industry is segmented on the basis of product, technology, end user, and region. By product, the miRNA tools and services market share is segmented into research tools and services. The research tools segment is  further segmented into kits, reagents, and other consumables and services segment is  fragmented into miRNA extraction services, quantification services, microarray services, sequencing services, functional studies services, and others. The research tools segment dominated the market in 2021 with a revenue of $252.62 million. Growth of the segment is attributed to increasing incidence of chronic diseases such as cancer and cardiovascular disorders, research funding by various companies and recent developments such as use of bioinformatics for the research has further driven the market growth. By technology type, the market is classified into extraction tools, qrt-pcr, next-generation sequencing, microarray, functional analysis tools and others. The qRT-PCR segment dominated the market in 2021 with a revenue of $93.49 million. The growth of the segment in miRNA tools and services market trends can be attributed to surge in in the incidence of chronic diseases, rise in the number of cancer cases, increase in funding in gene manipulation therapies research& innovative drug development methodologies that use RNAi-based approaches.

By end user type, the market is classified into research & academic institutes, In vitro diagnostics, pharma & biotech companies, and contract research organizations The research & academic institutes segment dominated the market in 2021 with a revenue of $142.74 million.

KEY FINDINGS OF STUDY

• The study provides an in-depth analysis of the miRNA tools and services market size along with the current trends and future estimations to elucidate the imminent investment pockets.
• It offers miRNA tools and services market analysis from 2021 to 2031, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
• A comprehensive analysis of four regions is provided to determine the prevailing opportunities.
• The profiles and growth strategies of the key players are thoroughly analysed to understand the competitive outlook and global miRNA tools and services market growth.