miRNA Sequencing And Assay Market Size, Share & Trends Analysis Report By Product & Service, By Technology, By Workflow, By Application, By End-use, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global miRNA sequencing and assay market was valued at USD 270.0 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 13.25% from 2022 to 2030. The expansion of technologically advanced sequence analysis platforms is anticipated to fuel market growth. miRNA sequence analysis enables the previously non-characterized miRNAs discovery and assists in miRNA isoforms examination and study of disease associations, along with tissue-specific expression patterns.

The COVID-19 pandemic positively impacted the miRNA sequencing market. miRNAs play an important role in the immune response regulation against infectious diseases, exhibiting early changes in the onset of disease and before the pathogen detection. For instance, according to an article published in the NCBI, in July 2021, early-stage diagnosis of COVID-19 may be identified with 99.9% accuracy by measuring miRNA (miR-195-5p, miR-23a-3p, and miR-423-5p). These potential applications of miRNA in the diagnosis of the COVID-19 virus have contributed to market growth.

Next-generation sequencing is usually preferred over microarrays for miRNA sequence analysis since it provides a superior signal-to-noise ratio and enables effective sequencing. Additionally, short RNAs such as miRNA, piRNA, and siRNA have a role in the differentiation, development, and RNA-mediated epigenetic regulation of cellular processes such as death and gene expression. Small RNA sequence analysis makes it easier to find novel miRNAs and other small RNAs and determine whether these nucleic acids are expressed differently in various samples. The method is effective for identifying variants such as isomiRs with single-base resolution and analyzing miRNAs without knowledge of their secondary structure or sequence in advance.

Furthermore, growing uses of sequencing analysis techniques have led to considerable investments by key market players. As a result, a large product line has grown rapidly in the market. Most of these products are advancements to currently available biotechnology products. This has given competitors an advantage to launch and develop products faster than new entrants.

Product & Service Insights

The product segment dominated the market in 2021 with a revenue share of over 80.0% due to the significant application of sequencing in the healthcare sector. Furthermore, major competitors in this market offer a wide selection of cutting-edge items. For instance, Illumina Inc. provides a wide selection of library preparation, sequencing, accessories, consumables, software, and informatics for miRNA sequence analysis. Similarly, HTG Molecular Diagnostics, Inc. offers HTG EdgeSeq miRNA assay that utilizes next-generation sequencing. It enables users to assess the expression of 2,083 human miRNA transcripts (NGS). These product offerings would further boost the market growth.

The service segment is anticipated to witness the fastest growth during the forecast period. Companies such as Novogene Co., Ltd.; Eurofins Genomics; Arraystar Inc.; and Creative Biolabs provide a broad workflow for sequencing. Additionally, companies such as Norgen Biotek Corp. provide service as well as a kit for miRNA sequencing. For instance, in December 2021, InteRNA Technologies announced the Investigational New Drug clearance from U.S. FDA for its Phase I clinical trial with lead miRNA candidate in patients with advanced solid tumors. Such factors are anticipated to fuel the growth of the service segment.

Technology Insights

The sequencing by synthesis segment captured the largest share of over 30.0% in 2021 owing to its simple workflow, highest data accuracy, and wide range of applications. The ongoing research and study in miRNA sequencing by synthesis has contributed to the market growth. According to a study published in January 2021, researchers from China, Germany, and the U.S. assessed the standard SBS and the methods used for this. The study stated that SBS improved more annotated miRNAs and generated more novel miRNAs.

Sequencing by oligonucleotide ligation and detection (SOLiD) technology is anticipated to witness the fastest growth in the coming years. It is majorly used to identify variations in resequencing, targeted resequencing, and transcriptome sequencing. Currently, systems accessible in the market have 30 G per run of data output with 99.99% accuracy.

Workflow Insights

Sequencing workflow captured the largest share of over 50.0% in 2021. The sequencing workflow helps to identify and analyze a complete range of miRNA and small RNA species. Moreover, it assists in determining how post-transcriptional regulation influences phenotype and the discovery of novel biomarkers, which have broad applications in the research of cancer and other complex diseases. The most commonly used platforms for miRNA sequencing include MiSeq and HiSeq offered by Illumina Inc.

The data analysis and storage segment is anticipated to witness lucrative growth in the coming years. Several end-users employ data analysis and storage apps to analyze sequencing data without bioinformatics training, which ultimately reduces the staff and operational cost of the process. Thus, data analysis and storage apps reduce the time required to perform sequencing, which ultimately scales up the sample throughput. Additionally, the rising application of miRNA sequencing requires faster data analysis tools to fulfill the increasing demand. This factor is likely to boost segment growth during the forecast period.

Application Insights

The cancer segment dominated the market in 2021 with a revenue share of over 35.0% owing to the increasing prevalence of cancer globally. Aberrant expression of miRNAs shows great potential as innovative diagnostic and prognostic biomarkers of cancer with high sensitivity and specificity. According to the article published in the NCBI in March 2022, miRNA molecules can help in the development of screening for early detection of tumors by accessing the level of risk, which is a major challenge in the period of personalized medicine. miRNA can significantly enhance the effectiveness of treatment for cancer patients.

Polyglutamine diseases are anticipated to witness the fastest growth in the coming years. Potential biomarkers for the prognosis and diagnosis of polyglutamine disease have been found to be specific miRNA expression patterns in the brain parenchyma and circulatory fluids.

End-use Insights

The research and academic institutes dominated the market in 2021 with a revenue share of over 50.0%. miRNA sequencing techniques and products are widely used in several research studies that are being conducted by research and academic institutes. Therefore, a growing number of research studies is expected to drive the market for miRNA sequencing and assay products. For instance, in June 2020, researchers from the Indian Institute of Technology Madras discovered an over-expressed specific miRNA called 'miR-155' in tongue cancer.

Pharmaceutical and biotechnology industries are expected to witness significant growth in the forecast period. These industries deal with extensive research to develop therapeutics for several diseases. Major factors that drive the segment include an increase in R&D funding, the high adoption rate of high throughput sequencing technologies with advanced features, and a rise in the number of comparative and evolutionary genomic studies in the research and development department.

Regional Insights

North America dominated the market in 2021 with a revenue share of over 45.0% owing to the presence of key players such as PerkinElmer, Inc. and Thermo Fisher Scientific who have increased their R&D activities for novel diseases. Companies operating in this region are engaged in new product development to expand their product portfolio. For instance, in 2020, Illumina, Inc. invested USD 682 million in R&D to advance its existing technology and develop new sequence analysis technology. These factors are further promoting regional growth.

Asia Pacific is anticipated to exhibit the fastest growth rate over the forecast period owing to the presence of numerous organizations and associations that are making efforts to educate young scientists in this region. For instance, APBioNet, an Asia Pacific bioinformatics network, aims to exchange data and information, track the growth of the bioinformatics infrastructure, and host conferences, workshops, and training sessions.

Key Companies & Market Share Insights

Thermo Fisher Scientific, Inc. and Illumina, Inc. are the two key market players. Broader product & service portfolios offered by these companies have resulted in the growth in the companies' revenue generation for miRNA sequencing and assay. Moreover, the companies’ wide distribution network has significantly boosted the growth.

In addition, several market players are expanding their miRNA product portfolio to increase their global presence. For instance, in October 2021, MiRXES Pte Ltd. expanded its product offering by adding new PCR tests for the detection of cardiovascular diseases, infectious diseases, metabolic diseases, and cancer at an early stage. The company is also developing assays for breast, colorectal, liver, and ovarian cancers that use biomarkers during the discovery process. Continuous advancements by key players would further boost the market growth during the forecast period. Some prominent players in the global miRNA sequencing and assay market include:

• Thermo Fisher Scientific, Inc.

• Illumina, Inc.

• QIAGEN N.V.

• PerkinElmer, Inc.

• Abcam plc

• New England Biolabs

• Takara Bio Inc.

• Lexogen GmbH

• Norgen Biotek Corp.

• Maravai LifeSciences

• HTG Molecular Diagnostics, Inc.

• Meridian Bioscience, Inc.

• System Biosciences, LLC

miRNA Sequencing And Assay Market Report Scope

Global miRNA Sequencing And Assay Market Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global miRNA sequencing and assay market report based on product & service, technology, workflow, application, end-use, and region:

• Product & Service Outlook (Revenue, USD Million, 2018 - 2030)

  • Product

    • Library Preparation Kits

    • Sequencing Consumables

    • Instruments

  • Service

• Technology Outlook (Revenue, USD Million, 2018 - 2030)

  • Sequencing By Synthesis

  • Sequencing By Oligonucleotide Ligation and Detection (SOLiD)

  • Nanopore Sequencing

  • Sanger Sequencing.

  • Single Molecule Real-time (SMRT) Sequencing

• Workflow Outlook (Revenue, USD Million, 2018 - 2030)

  • Library Preparation

  • Sequencing

  • Data Analysis & Storage

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Cancer

  • Polyglutamine Diseases

  • Autoimmune Disease

  • Schizophrenia

  • Others

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Pharmaceutical & Biotechnology Industry

  • Research and Academic Institutes

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • France

    • U.K.

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

  • Middle East Africa (MEA)

    • South Africa

    • Saudi Arabia