The Future of miRNA-based Cancer BiomarkersĬonsistent Increase in Risks and Threats from Infections Drive Healthy Market Growth Increasing Application in Cancer Diagnostics as Biomarkers to Drive Market Growth Increasing Incidence of Infectious Diseases and Chronic Conditions to Help miRNA Market Gallop Ahead Increasing Emphasis on R&D by Players to Boost Market Growth North America Dominates Global miRNA Market, Asia-Pacific to Witness Steady Growth Polymerase Chain Reaction (PCR) Dominates the Instruments CategoryĪcademic and Government Research Institutes Holds the Largest Share MicroRNAs Likely to Be Instrumental in Disease Diagnosis and Treatment Global miRNA Market Set to Witness Rapid Growthĭisease Diagnostics Segment Leads the Market Impact of Covid-19 and a Looming Global RecessionĢ020 Marked as a Year of Disruption & TransformationĪs the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021 The Asia Pacific region will also be driven by advances in proteomics and genomics along with increasing adoption of novel tools that help meet research goals. The microRNA market in Asia Pacific is likely to gain considerable momentum due to increasing consumer awareness, rapid growth in population, supportive government policies, healthcare infrastructure modernization, and escalating foreign investments in developing nations like India and China in the regional market. Growth in the Europe market is because of increased funding towards research in countries like Germany to encourage the entry of startups in the molecular diagnostics industry, particularly in microRNA. Ever-increasing clinical trials seeking to develop novel diagnostics and therapeutics, particularly in the US, is another key growth driver. The North American region dominates the global market, owing to technological advances, government support, and excellent medical reimbursement facilities. Within Europe, Germany is forecast to grow at approximately 12.5% CAGR. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 12.1% and 13% respectively over the analysis period. China, the world's second largest economy, is forecast to reach a projected market size of US$50.7 Million by the year 2026 trailing a CAGR of 17.7% over the analysis period. is estimated at US$107.8 Million in the year 2021. Market is Estimated at $107.8 Million in 2021, While China is Forecast to Reach $50.7 Million by 2026 However, intensified demand for highly skilled personnel and challenges regarding in-house development are major hurdles to growth in the global market. Furthermore, the growing relevance of liquid biopsies is further driving its popularity in the discovery and development of biomarkers. Such biomarkers play a particularly important role in data-driven approaches, genome-wide population-based studies because they show high reproducibility and robustness in comparison to conventional procedures. The growing use of microRNA biomarkers is augmenting growth in the market. Rising microRNA adoption in emerging countries such as India, China, among others will offer new growth opportunities. The growth of microRNA in oncology can be attributed to the growing burden of cancer as well as other cardiovascular diseases, broader therapeutic applications, lowering the cost of sequencing, and greater acceptance of the technology.
#APSIM GLOBAL SENSITIVITY ANALYSIS DRIVERS#
Key drivers propelling growth in the global microRNA market include greater awareness, increasing emphasis on R&D activities, growth of advanced and well-organized technology, rising government initiatives globally, escalating government investments in healthcare, along with advances in genomic technologies and molecular biology. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 15.7% CAGR for the next 7-year period. Products, one of the segments analyzed in the report, is projected to record 12.2% CAGR and reach US$290.1 Million by the end of the analysis period.