MicroRNA Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (MicroRNA Arrays, Next Gen Sequencing, Immunoassay, PCR-Based Assay), By Application (Research and Development, Clinical Diagnostics), By End-user (Research and Academic Institutes, Biopharmaceutical Companies, Diagnostic Centers ) and Region Forecast 2019-2030  

MicroRNA market size was valued at US$ 440.0 million in 2023 and is anticipated to grow at a CAGR of 26.1% from 2024-2030. MicroRNAs or (miRNAs) are the major class of small, single-stranded non-coding RNAs in an organism that play crucial roles in regulating gene expression.  MicroRNAs are useful in diagnostics and treatment of several diseases.

The rising chronic disorders across the globe are significant drivers of the increased revenues of the microRNA market. As the burden of chronic diseases rise, the demand for advanced tools for diagnosis and treatment of diseases rises. MicroRNA emerged as excellent therapeutics in treatment of the chronic disorders including cancer, chronic kidney disease (CKD), respiratory diseases, and others.

Moreover, microRNA serves as a promising diagnostic biomarker to diagnose several chronic disorders. Recently miRNA has been used in the diagnosis and treatment of chronic pediatric diseases including bronchial asthma, congenital heart disease, cystic fibrosis, type 1 diabetes mellitus, and epilepsy and several research studies are going on to discover several other therapeutic potentials of miRNA.

Furthermore, the rising demand for personalized medicine is another significant driver behind the growth of the microRNA market. MicroRNA is now being increasingly utilized to develop personalized medicine that combines genetic data together with phenotypic and environmental factors to yield healthcare tailored to an individual and eliminate the constraints of the "one-size-fits-all" therapy approach. microRNA.

For instance, microRNA has been used as a critical tool for better understanding personalized cancer biogenesis, evolution, diagnosis, and treatment. Therefore, as the demand for patient-tailored treatments rises, the adoption of microRNA technology around the globe surges.

However, the high cost of adoption of microRNA technology and the instability of microRNA stands as a potential restraint to the market growth. Meanwhile, the rising investments by the government and rising collaboration among the healthcare sectors across the globe can create significant opportunities for the growth of the microRNA market over the forecasted years. The key players in the microRNA market are further contributing to the development of the market by announcing launches, collaborations, and acquisitions. For instance, in july 2023, DiamiR Biosciences announced to develop microRNA-based Alzheimer's risk assessment blood test CogniMir, for Pharma Services and aims to make it available in late 2023 or early 2024.

Key Developments

• In February 2022, Craif launched the miSignal Series for early-stage cancer detection using urinary miRNA.