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Global MiRNA sequencing market is expected to register a revenue CAGR of 12% during the Forecast period 2032

Reports And Data

Reports And Data

The global Micro Ribonucleic Acid (MiRNA) sequencing assay market size is expected to register a revenue CAGR of 12% during the forecast period 2032.

NEW YORK, NY, UNITED STATES, April 23, 2023 /EINPresswire.com/ -- The Global MiRNA Sequencing Assay Market sequencing assays was valued at USD 594.16 Billion in 2022 and is expected to witness a revenue CAGR of 12% during the forecast period. This growth can be attributed to the increasing adoption of Next Generation Sequencing (NGS) technologies for accurate and reliable disease detection, as well as the development of bioinformatics tools for data analysis.

MiRNA Sequencing Assay is a technique used to sequence microRNAs, which are small RNA molecules that play a crucial role in gene regulation and expression. After isolation and purification from cells or tissues, these tiny RNA molecules are transformed into complementary Deoxyribonucleic Acid (DNA) through reverse transcription. The resulting cDNA is then amplified and sequenced using NGS technologies, producing high-throughput sequencing data that can be analyzed using bioinformatics tools.

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The demand for accurate diagnostic tools is being driven by the increasing incidence of chronic diseases such as cancer, cardiovascular diseases, neurological disorders, and metabolic disorders. MicroRNAs have been identified as important disease biomarkers, and analyzing them using the MiRNA sequencing assay can provide critical information on the diagnosis, prognosis, and efficacy of various diseases. According to the American Cancer Society, there will be 1.9 million new cases of cancer and 608,570 cancer-related deaths in the United States alone in 2022.

Segments Covered in the Report:

The global market for DNA sequencing is segmented by product type, technology, and end-use. The product type segment is further divided into library preparation kits, sequencing services, reagents & consumables, instruments, and software & services. Among these, the reagents & consumables segment held the largest share of the market in 2021. The increasing demand for DNA sequencing for various research and clinical applications has resulted in a higher consumption of reagents and consumables, driving the growth of this segment. The technology segment is categorized into sequencing by synthesis (SBS), ion semiconductor sequencing, single-molecule real-time (SMRT) sequencing, nanopore sequencing, and others. The SBS technology held the largest share of the market in 2021. SBS technology is widely used in various research applications and has high accuracy and reproducibility, which has resulted in its high adoption rate.

The end-use segment is divided into academic & government research institutes, pharmaceutical & biotechnology companies, contract research organizations, and others. The pharmaceutical & biotechnology companies segment held the largest share of the market in 2021. The high demand for DNA sequencing in drug discovery and development, and increasing research activities in these companies are major factors driving the growth of this segment. Furthermore, the academic & government research institutes segment is expected to witness significant growth during the forecast period. This can be attributed to the growing adoption of DNA sequencing for various research applications in these institutes.

Additionally, the contract research organizations segment is also expected to register considerable growth during the forecast period, owing to the increasing outsourcing of drug discovery and development activities by pharmaceutical and biotechnology companies. Overall, the global DNA sequencing market is expected to continue to grow at a steady rate, driven by the increasing demand for DNA sequencing in various research and clinical applications, and the development of advanced technologies in this field.

Strategic Development:

Illumina, Inc. and Roche revealed on January 15th, 2020 that they had entered into a partnership to create a Next-Generation Sequencing (NGS) examination to be utilized in the field of cancer research.

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Competitive Landscape:

The global miRNA sequencing assay market is highly competitive, with several prominent players vying for market share. Among the major companies included in the market report, Illumina, Inc. is one of the leading players, having a significant market presence owing to its broad range of products and extensive distribution network. The company's NGS platforms, such as MiSeq and NextSeq, are extensively used in the miRNA sequencing assay market.

QIAGEN N.V. is another major player in the market, with a diverse range of sample and assay technologies catering to several industries, including the life sciences and molecular diagnostics. Thermo Fisher Scientific Inc. also has a strong market presence, with its Ion Torrent platform widely used for sequencing applications. Additionally, the company's acquisition of Qiagen in 2021 is expected to further strengthen its market position.

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BGI Genomics, Becton, Dickinson and Company (BD), Takara Bio Inc., Sigma-Aldrich Corporation, Agilent Technologies, Inc., PerkinElmer, Inc., and F. Hoffmann-La Roche AG are other major companies included in the global miRNA sequencing assay market report. These companies have a significant market presence, owing to their diverse range of products and strategic partnerships, collaborations, and acquisitions.In conclusion, the global miRNA sequencing assay market is highly competitive, with several major players vying for market share. These companies are investing heavily in research and development to introduce new and innovative products, expand their product portfolio, and gain a competitive edge in the market.

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Nikhil Morankar
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