Frost & Sullivan has released a new report showing that the U.S. MicroRNA Market earned revenues of over $20.3 million in 2008. The firm estimates this to reach $98.6 million in 2015.
The U.S. MicroRNA Market report is part of the Drug Discovery and Clinical Diagnostics Growth Partnership Service program, which also includes research in U.S. nucleic acid purification and isolation markets, U.S. qRT-PCR markets, U.S. RNAi markets, and U.S. DNA microarray markets.
Trends indicate that the microRNA tool providers are witnessing extraordinary growth in their research product portfolios. As evidence of the link between microRNAs and disease grows, the diagnostic and therapeutic potential of these molecules will remain the driving forces behind market expansion.
MicroRNA research is said to grow faster compared to other most research fields, as diagnostic tests have already emerged from this young field.
"The rapid discoveries linking microRNAs to various diseases have propelled the microRNA field as well as the market," explains Frost & Sullivan Research Analyst Christi Bird. "Additionally, the release of the first microRNA-based diagnostic test in 2008 eliminated some of the failure risk associated with this young field, which may prompt more researchers to enter the field."
Studies also reveal that the adoption of microRNA research will continue to forge ahead rapidly over the next two years. All three major technologies used for microRNA research - microRNA microarrays, qRT-PCR, and functional analysis tools - are exhibiting high growth common to emerging markets for in-demand research fields.
The condensed timeline from discovery to clinical importance has made the study of microRNAs extremely attractive and promising for both the academic researcher and diagnostic and therapeutic companies, says the firm.
Although growth is on an upward trajectory, the size of the total market is relatively small compared to that of a mature market. Therefore, with increasing competition, revenues generated from microRNA portfolios do not match up to those attained by larger, more established markets.
"While the growth of the microRNA market is attractive to new competitors, the small total market size demonstrates that companies are not making huge profits in this market though some providers claim growth over 100 percent for their microRNA portfolios," continues Bird.
"While companies are not seeing major revenues from the microRNA market compared to more mature portfolios, the strong growth forecast of the microRNA market predicts the total market size in 2015 to reach nearly five times that of the 2008 total."
Companies that roll out such products is predicted to obtain increased visibility and improve brand recognition in specific fields. This in turn is expected to allow participants to garner a majority of the market share, especially in niche research areas. Moreover, those Companies which have positioned a significant place in the market and continue to support technology innovation over the next few years is reported to attain higher revenues in the future.
Jai C.S. is a contributing editor for HealthTechZone. To read more of Jai's articles, please visit his columnist page.Edited by
Patrick Barnard
