Global Market for miRNA Research Tools, Diagnostics and Therapeutics to Reach $1 Billion by 2019
Wellesley, Mass. (PRWEB) November 13, 2014
BCC Research (http://www.bccresearch.com) reveals in its new report, MicroRNA Research Tools, Diagnostics and Therapeutics: Global Markets, the global market for microRNA (miRNA) research tools, services, diagnostics and drug discovery is expected to reach $1 billion by 2019, at a compound annual growth rate (CAGR) of 12.6% for the period of 2014 to 2019. A growing number of pharmaceutical and biotech companies are becoming involved in miRNA research due to advancements in molecular diagnostics and therapeutics, thereby, expanding and embracing cardiovascular, virology, endocrinology, plant science and genetic disease fields.
miRNAs are a recently discovered class of gene regulators, which, when produced by a cell, are able to turn off specific sets of genes through post-transcriptional mechanisms. In 2013, miRNA diagnostics had a market worth about $800,000 and it is anticipated to reach $4.2 million by 2019. The miRNA drug discovery market was worth about $70.5 million in 2013 and it has the potential to reach $145.5 million by 2019.
Rapid growth in miRNA research in the recent past, because of its diagnostic and therapeutic potential, has fueled development in the global miRNA tools and services market. Of the three major miRNA research tool technologies, next-generation sequencing platform seems to be experiencing the fastest growth, while quantitative real-time polymerase chain reaction is gradually being replaced by microarray products.
“Notable discoveries and rapid progress in the past few years provide the hope that miRNAs will in the near future have great potential in the diagnosis and treatment of many diseases,” says BCC Research analyst P. Natana Raj. “Advancements and the intense interest surrounding these discoveries have resulted in the growing need for applicable and validated experimental tools to enable researchers to accurately study the expression and biological functions of miRNAs.”
The nascent but steadily growing field of miRNA research has been one of the most prolific contributors to modern medicine in recent times. Still at the developmental stage, miRNA research has helped those in the medical sector in understanding the dynamics of various diseases from a different perspective. After a heavy focus on miRNA research between 2002 and 2008, the research community is now slowly stepping into the clinical trials of the already published work.
MicroRNA Research Tools, Diagnostics and Therapeutics: Global Markets provides an overview of the current state of the miRNA market, focusing mainly on continuing research endeavors, newly emerging sophisticated tools, reagents, techniques, diagnostics and therapeutic products. Forecast projections are provided for the period, 2014 to 2019.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
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