The [FURL=https://www.industryarc.com/Research/MicroRNA-Market-Research-508505?utm_source=Briefingwire&utm_medium=Pressrelease&utm_campaign=Paidpressrelease]MicroRNA Market[/FURL] size was estimated at $32.38 billion in 2020, projected to grow at a CAGR of 16.8% during the forecast period 2021-2026. MicroRNA, also known as miRNA, contains 22 nucleotides and it is a type of non-coding ribonucleic acid (RNA) found in animals, plants and some viruses that regulates gene expression as well as RNA silencing. The role of microRNAs in regulating gene expression and their rapid adoption in the production of prognostic and diagnostic tools for various cancer types is driving market growth. The market is also growing due to recent developments in MiRNA applications, high investments in MiRNA, as well as increasing initiatives for the production of new therapeutics and diagnostic tests.Key Takeaways
Geographically, the North America region held 39.6% of the total market share in 2020 owing to the higher number of clinical trials to develop novel diagnostic tools and therapeutics.
The role of microRNAs in regulating gene expression and their rapid adoption in the production of prognostic and diagnostic tools for various cancer types are the major driving force for MicroRNA Market during the forecast period 2021-2026.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the MicroRNA Market.
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MicroRNA Market Segment Analysis - By Geography
Based on geography, North America dominated the MicroRNA Market with a region share of 39.6% in 2020 followed by Europe and APAC. The higher number of clinical trials to develop novel diagnostic tools and therapeutics along with supportive government policies are the major factor propelling the growth of MicroRNA Market in this region. Moreover, the presence of large number of pharmaceutical and biotech companies that invest heavily on the research along with the easy availability of technologically advanced instruments is predicted to drive the market growth in this region.
MicroRNA Market Drivers
Increasing Number of Clinical Trials
MiRNA's clinical and preclinical research applications are being expanded by ongoing experiments and clinical trials. In almost all human health conditions, an increasing number of studies indicate that miRNAs may be useful as drug resistance modulators, biomarkers for pathogenic conditions, or drugs for medical intervention which is set to propel the market forward during the forecast period 2021-2026.
Key companies of this market are Merck KGaA, Thermo Fisher Scientific, Inc., Horizon Discovery Ltd., Synlogic, QIAGEN, GeneCopoeia, Inc., New England Biolabs, Quantabio, NanoString, BioGenex, SeqMatic LLC, Miltenyi Biotec, Sistemic Scotland Limited, Biodynamics Laboratory Inc., OriGene Technologies, Inc.
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