According to our new research study on “miRNA Sequencing and Assay Market Forecast to 2027 – COVID-19 Impact and Global Analysis – by Product, Technology, and End User,” the market is expected to reach US$ 468.99 million by 2027 from US$ 192.31 million in 2019; it is estimated to grow at a CAGR of 11.9% from 2020 to 2027. The report highlights trends prevailing in the miRNA sequencing and assay market along with the factors governing its growth.
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Based on product, the consumables segment held a larger share of the market in 2019, whereas the library preparation segment is expected to register a higher CAGR during the forecast period. A significant demand for library preparation kits in the library construction applications owing to their capability to shorten the RNA fragmentation process, and increasing research activities pertaining to complex life sciences process are the key factors contributing to the growth of the market for the library preparation kits segment. Also, rising demand for custom miRNA panels is likely to propel the growth of the segment during the forecast period. Moreover, technological advancements in NGS techniques are driving the growth of the segment.
The growth of the miRNA sequencing and assay market is mainly attributed to the widening range of miRNA applications and rise in funding for genomics research. However, the challenges related to delivery, efficacy, and specificity of miRNA-based therapeutics may hinder the market growth.
Illumina, Inc., Thermo Fisher Scientific Inc., Qiagen, Perkin Elmer, Inc., Takara Bio Inc., New England Biolabs, Norgen Biotek Corp, TriLink BioTechnologies Inc, Lexogen GmbH, and Oxford Nanopore Technologies are among the leading companies operating in the miRNA sequencing and assay market.
The report segments global miRNA sequencing and assay market as follows:
By End User
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