Market for MicroRNA Tools and Services Expected to More than Double

Due to the rapid growth in microRNA (miRNA) research, the markets for reagents and instrumentation in this field as well as for miRNA service providers are expected to more than double over the next several years.

The growth of therapeutic and diagnostic enterprises, higher research funding, and increased outsourcing to contract research organizations should present immense opportunities for the miRNA tools and services market.

Data released in the new Frost & Sullivan (Mountain View, CA, USA) report "Global Analysis of MicroRNA Tools and Services Market" revealed that the market for reagents and instrumentation earned revenues of 110.0 million USD in 2012 and estimated this to more than double to reach 247.7 USD million in 2017.

The miRNA services market, which caters to academic and research institutes, core facilities, and pharmaceutical and biotech companies, earned revenues of 35.1 million USD in 2012, and this is expected to grow to 63.3 million USD in 2017.

Of the various miRNA technologies, which include quantitative real-time polymerase chain reaction (qRT PCR), microarrays, and functional tools, qRT PCR remains the fastest growing, while microarray is gradually being replaced by next-generation sequencing platforms.

"As miRNA research evolves globally and more efficient products are required, the space is burgeoning with technology innovations," said Divyaa Ravishankar, senior research analyst at Frost & Sullivan. "Strategic alliances for product development are taking place, resulting in novel kits for qPCR and new mimics and inhibitors that help researchers shorten their project timeline and get more funding. To sustain product value until then, market participants must continue to offer technology improvements and differentiated features, and strategically compete without making deep pricing cuts that may irreversibly damage market potential. Providing complete workflow solutions and discounts when a customer purchases products along with several different portfolios will simplify purchasing and attract new customers."

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