miRNA Sequencing and Assays Market Overview:
The miRNA Sequencing and Assays Market is projected to reach USD 343 million by 2024 from USD 182 million in 2018, at a CAGR of 11.2% during the forecast period. The major driving factors in the miRNA sequencing and assays market are the advantages of miRNA sequencing over other technologies, increasing research funding for genomics, and the decreasing cost of sequencing.
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Recent Developments:
In 2018, Illumina partnered with Thermo Fisher to provide Ampliseq technology solutions to its customers.
In 2017, Takara Bio acquired WaferGen to augment and expand Takara Bio’s worldwide commercial offerings in transcriptomics and create new market opportunities in other areas of genomics.
In 2016, PerkinElmer acquired Bioo Scientific, which provides consumables solutions for life science research, and food and animal-feed safety testing.
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Market Segmentation:
By product, the library preparation segment is expected to grow at the fastest rate during the forecast period.
Based on product, the miRNA sequencing & assays market is segmented into library preparation kits and sequencing consumables. The library preparation segment is projected to grow at the higher CAGR between 2018 and 2024. Growth in this segment is mainly driven by the increasing adoption of NGS techniques for miRNA analysis.
Sequencing consumables are projected to hold the largest share of the miRNA sequencing and assay market during the forecast period.
Based on product, the miRNA sequencing & assays market is segmented into library preparation kits and sequencing consumables. Sequencing consumables dominated the market with a larger share in 2018. The large share of this segment can primarily be attributed to the growing demand for consumables and increasing adoption of small RNA sequencing.
The research and academic institutes end-user segment held the largest share of the market in 2018
Based on end users, the miRNA sequencing & assays market is segmented into academic and research institutes and contract research organizations. In 2018, academic and research institutes accounted for the largest share of the miRNA sequencing & assays market. The large share of this segment can be attributed to the availability of research grants and the increasing focus of market players on providing efficient miRNA sequencing products and services for research applications.
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Key Players:
The major miRNA sequencing and assays vendors include Illumina (US), Thermo Fisher Scientific (US), QIAGEN (Germany), Takara Bio (Japan), NEB (UK), and 5 others.
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