Europe miRNA Sequencing and Assay Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product, Technology, and End User

The Europe miRNA sequencing and assay market is expected to reach US$ 144. 87 million by 2027 from US$ 62. 30 million in 2019; it is estimated to grow at a CAGR of 11. 3% from 2020 to 2027. The widening application range of microRNAs and rise in funding for genomics research.

New York, June 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe miRNA Sequencing and Assay Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product, Technology, and End User" - https://www.reportlinker.com/p06075676/?utm_source=GNW
However, challenges associated with the delivery, efficacy, and specificity of miRNA-based therapeutics hinder the market growth.

MicroRNAs (miRNAs) are noncoding RNAs that are partially complementary to messenger RNA (mRNA).They are known to downregulate the expression, which makes them vital regulators of important cellular functions.

Being involved in the process of differentiation, they act as markers in cell type identification. miRNAs are associated with pathological processes such as viral infections, autoimmune diseases, and carcinogenesis. Thus, extensive research is being conducted to identify new miRNAs. Furthermore, new discoveries regarding the role of miRNAs in disease development have made them a key target of novel therapeutic approaches. Several miRNA-targeted therapeutics against the diseases such as cancer and hepatitis have reached the clinical phase. For instance, Santaris Pharma has developed a therapeutic molecule named Miravirsen that targets miR-122 for the treatment of hepatitis C virus (HCV) infection; the molecule is in the Phase II clinical trial. Therefore, rise in funding of genomic research to identify new molecules to diagnose and treat diseases, and consequent expansion of the range of applications of miRNAs are driving the growth of the miRNA sequencing and assay market in Europe.

The COVID-19 pandemic has been having some serious effects on European countries.The miRNA sequencing and assay market in the region witnessed shortfall at the beginning of the pandemic crisis due to disruptions in supply chain and lowered demands due to lockdown imposed by many European countries.

However, later, the demand for the miRNA sequencing and assay products increased drastically with supportive government initiatives.Many private research organizations have expanded their research teams and projects to accelerate studies related to SARS-CoV-2.

For instance, QIAGEN, Germany, a pioneer in next-generation sequencing (NGS), has expanded its integrated coronavirus next-generation sequencing platforms and software solutions to accelerate COVID-19 research. Hence, the COVID-19 pandemic has been supporting the Europe miRNA sequencing and assay market growth.

The Europe miRNA sequencing and assay market, by product, is segmented into library preparation and consumables. The consumables segment held a larger share of the market in 2019, whereas the library preparation segment is anticipated to register a higher CAGR in the market during the forecast period.

Based on technology, the Europe miRNA sequencing and assay market is segmented into sequencing by synthesis, nanopore, and ion semiconductor sequencing. The sequencing by synthesis segment held the largest share of the market in 2019; however, the nanopore segment is expected to register the highest CAGR in the market during 2020–2027.

Based on end user, the Europe miRNA sequencing and assay market is segmented into research institute, academia, and CROs. The research institute segment held the largest share of the market in 2019 and is estimated to register the highest CAGR in the market during the period.

A few of the primary and secondary sources associated with this report on the Europe miRNA sequencing and assay market are the European Federation of Pharmaceutical Industries and Association (EFPIA), Spanish Society of Medical Oncology (SCOM), and Spanish Society of Pharmaceutics and Pharmaceutical Technology (SEFIG).
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