September 26, 2017
WELLESLEY, Mass., Sep 26, 2017 – Researchers and healthcare professionals worldwide are exploring avenues in microRNA research and development. This burgeoning market has the potential to approach $1.4 billion by 2021. An updated report by BCC Research examines the industry’s prospects and microRNA tools for research, diagnostics and therapeutics.
The rising incidences of life-threatening diseases and a growing population are among factors driving growth of this market. Companies are focusing on the advancement of superior technologies in order to provide higher-quality treatment and improved therapies for patients. Increased government spending is also expected to support growth of the microRNA market. From less than $380 million in 2016 U.S. sales, the microRNA tools market is poised for the highest growth.
in this region, with global expansion predicted, according to the report MicroRNA Research Tools, Diagnostics and Therapeutics: Global Markets.
Collaborative efforts of researchers and the pharmaceutical industry are establishing microRNA as a promising drug candidate. MicroRNA diagnostics and therapeutics have applications in cancer as well as cardiovascular, metabolic, neurological and other diseases.
“In the last decade, the overall microRNA tools market has witnessed a substantial increase in their usage in the biomedical industry, and researchers have reported several findings on specific microRNAs,” said Robert G. Hunter, BCC Research senior editor, healthcare. “microRNAs have emerged as the key regulators of a large number of genes that play a role in many cellular processes and signaling pathways.”
Key players in this industry include Thermo Fisher Scientific, Qiagen N.V., Affymetrix Inc., Illumina Inc. and Bio-Rad Laboratories Ltd. Major end users of these products are research centers, academic institutions, government and private laboratories, as well as pharmaceutical, diagnostic, biotechnology companies and service sector.
Regional Markets for MicroRNA Tools
After the United States, the European market is predicted to achieve the second highest CAGR through 2021. Growth in European countries is due to an inclination toward research and better diagnostics in the healthcare sector. Markets in emerging regions, especially China and India, are also expanding. Asia is an attractive market for pharmaceutical and biotechnology companies because of its heterogeneous patient population.
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MicroRNA Research Tools, Diagnostics and Therapeutics: Global Markets( BIO115C )
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