Global
MicroRNA Market size
is expected to expand at a steady CAGR over the forecast period. MicroRNA is a
small non-coding RNA that plays a significant role in plants and animals by
targeting specific mRNAs for degradation or translation repression. Growing
number of biotech and pharmaceutical companies involved in research and
development (R&D) activities such as molecular diagnostics and therapeutics
is expected to drive market growth. Ample opportunities for applications in
virology, cardiovascular, endocrinology, genetic disease, and plant science are
anticipated to further fuel expansion in near future.
One
of the major factors contributing to market growth is the provision of large
scale public and private funding. Government investment and increasing
technological developments are anticipated to further drive growth. High
prevalence of diseases is expected to encourage pharmaceutical and biotech
companies to engage in R&D in different disease classes. Increasing
occurrence of cardiovascular and cancer is expected to drive the market at a
steady pace. According to WHO, about 14 million cancer cases were registered in
2012 and the number is estimated to grow at an alarming rate in the years to
come.
Recent
innovations and diverse applications are anticipated to contribute to growth of
the market for microRNA over the forecast period. The technology is used as a
biomarker for cancer diagnosis and treatment. Increasing investments in R&D
initiatives to develop new diagnostic tests and therapeutics is also expected
to fuel product demand. Increased target selectivity and specificity of RNAi
therapeutics, along with adoption of virtual drug development models enables
companies to minimize costs associated with research and production.
Browse Details of Report @ https://www.hexaresearch.com/research-report/microrna-market
Shift
from platform technologies to application-specific products is expected to bode
well for market expansion. Developing drugs or biologics through virtual drug
development platforms offers significant advantages over traditional models
such as minimizing risks and overhead costs associated with conventional
technologies. miRNAs play a major role in various biological processes
including developmental timing, cell proliferation, apoptosis, stem cell
maintenance, differentiation, signaling pathways, and pathogenesis such as
carcinogenesis. This factor is anticipated to boost growth of the market over
the forecast period.
On
the other hand, stringent regulations and high investment cost are expected to
be the major restraints for the global market. High costs associated with
equipment used in detecting miRNA along with extensive and time-consuming
testing methods, subsequently contributes in increasing overall research value.
High failure rate coupled with the lack of skilled professionals with superior
industry experience may hamper market growth.
However,
increasing collaborations and mergers among biotechnology firms and government
research agencies are expected to positively influence market expansion. New
research and patents related to nanomaterial conjugation with microRNA
molecules are anticipated to create immense potential for future developments
particularly in nanotherapeutics and nanomedicine.
Research
tools, diagnostic technologies, and reagents are the major therapeutics in the
global market. Research tool was a significant therapeutic section in the past.
Diagnostic technologies are anticipated witnessing substantial growth in the
forthcoming years owing to high demand for cancer treatment and clinical
experiments. Enabled microRNA technologies comprises purification, labeling,
linear amplification, microarrays, art-PCR, and inhibition. Enabled
technologies, on the other hand, include interference (RNAi) and antisense
technology.
Enabled
technologies are projected to account for the largest share in near future
owing to significant use in therapeutics. RNAi technology is expected to emerge
dominant due to rising investments in drug development. RNA therapeutics find
applications in chronic conditions including kidney, cardiovascular, oncology,
metabolic, and cardiovascular diseases. Shifting focus on pipeline research for
infectious and oncology diseases attributed to their high occurrence and
failure rate of existing treatment processes can further propel growth.
Medical
diagnostics, research, and therapeutics are the major end uses of microRNA
technology. Research and medical diagnostics sectors are expected to enhance
effectiveness of RNA drug technology and therapies. This factor is anticipated
to further boost market growth in the forthcoming years.
Developed
regions like North America and Europe are dominant the global demand for
microRNA due to presence of advanced life science research infrastructure and
R&D organizations. In North America, U.S. represents largest market
followed by Canada. France, Germany, Italy, U.K., and Spain are some of the
major contributors in Europe. Asia Pacific is projected to witness significant
CAGR over the forecast period owing to increased investment by major companies.
Also, flexible regulations are expected to steer regional market growth. India
and China are projected to witness fastest growth in near future.
Key
players operating in the global microRNA market include Alnylam
Pharmaceuticals, Inc.; Affymetrix; Santaris Pharma; AstraZeneca Pharmaceuticals
LP; Exiqon; and Biogen Idec, Inc. Other industry participants include Pfizer
Inc., Eli Lilly and Co., CBC Biomarker Center GmbH, GlaxoSmithKline, F.
Hoffman-La Roche, Merck & Co, and Novartis AG. Recent innovations have
enhanced investments in medical sector for conducting clinical tests and
developing new drugs. Ongoing R&D initiatives coupled with favorable
government initiatives, and business collaborations are expected to present
growth opportunities to market players.
Browse
Related Category Market Reports @ https://www.hexaresearch.com/research-category/healthcare-industry
No comments:
Post a Comment