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Global Analysis of MicroRNA Tools and Services Market

  • September 2013
  • -
  • Frost & Sullivan
  • -
  • 217 pages

Summary

Table of Contents

Evolving microRNA Market Provides an Opportunity for Vendors of qRT-PCR and Functional Tools

The study covers the analysis and forecasts of MicroRNA tools and services market globally for the period 2009 to 2017. The market is broadly classified into 2 major segments – tools and services. MicroRNA tools market is further segmented into qRT-PCR, microarrays, and functional tools, while services market is further segmented into expression profiling and analysis and phenotypic analysis. The study also covers competitive analysis, product analysis, revenue forecasts, and market shares for the segments covered as part of this research. The base year is 2012 and the forecast period is from 2013 to 2017.

Methodology

The majority of the quantitative and qualitative information contained in this research service was acquired through primary research conducted with the major tool and reagent and service providers for microRNA (or miRNA) market. Most consultations were conducted with vice presidents (VPs) of business units, VPs of marketing, product managers, marketing managers, marketing directors, and business development directors from various companies within the mass spectrometry market.

The analysis contained in this research service is based on the following:
• Information collected through discussions with market participants and from secondary sources—government, industry associations, companies and other web sites, and other credible sources.
• Public announcements and plans by original equipment manufacturers (OEMs), suppliers, new entrants, and others.
• Frost & Sullivan’s published research and market and technology expertise. Forecasts are based on the data and analyses relating to industry challenges, market drivers and restraints, and market trends. If specific revenues or market sizes were unavailable, estimates were derived through consultations with industry experts, augmented by secondary research. Growth trends specific to certain market participants are based on consultations, past growth rates, and technology reviews.

Industry-specific information obtained includes:
• Revenue breakdowns by technology segments and regions specific to miRNA;
• Company revenues, market share estimates, and projected growth rates of various competitors;
• Market information, including customers and regional and technology trends, and;
• Market drivers, restraints, and challenges.

Key Findings

• The total market for miRNA tools was $X million in 2012 and is expected to reach $Xmillion in 2017. The market is expected to grow at a compound annual growth rate (CAGR) of X%.
• Likewise, the market for miRNA services accounted for $X million in 2012 and is expected to reach $Xmillion in 2017. The CAGR for this period is expected to be X%.
• For the miRNA tools market, the United States (US) contributed X%, with Europe positioned at X% and X% from Asia-Pacific (APAC) and Rest of World (RoW). Latin American countries such as Brazil and Mexico are slow and backlogged in relation to miRNA research spectrum.
• Technology segmentation determined that miRNA quantitative real-time polymerase chain reaction (qRT- PCR) remains the most popular segment with a global growth rate of X% during the forecast period. This is closely followed by functional analysis and this segment will tend to gain momentum during the forecast period especially in the US and Europe, projecting a growth rate of X%.
• Within the miRNA services sector, expression arrays segment makes up X% of the market share, leaving the remaining X% to phenotypic screening. The functional analysis segment is expected to catch up post 2015 where Frost & Sullivan predicts rapid utilisation of mimic and inhibitor libraries.
• Lack of infrastructure, personnel, and the requirement for faster turnaround times for funding and grant applications necessitates the need to outsource projects, thereby, opening up larger markets for miRNA service providers.
• The market puts microarray providers and vendors at a risk in the long term during the forecast period. In order to be able to differentiate themselves from the rest of the service providers, there is a trend towards offering miRNA sequencing, microarray, and polymerase chain reaction (PCR) services at competitive prices.
• Market estimates reveal that across the globe, Asia projects the largest market share for microarray application, while the US and European markets have reached their maturity stage where each of the market participants enjoys an equitable share of the revenues, leaving minimal scope for year-on-year growth. The technology will still remain a validating method to cross-reference the data from sequencers and this will keep the market at stagnated revenue each year.
• The existing competitive landscape is dominated by Qiagen, Life Technologies (Thermo Fisher Scientific), Exiqon, Affymetrix, Agilent Technologies, Dharmacon (Thermo Fisher Scientific), and Sigma Aldrich.
• Key companies to watch are Genecopoeia, Nanostrings, Applied Biological Material, and Quanta Biosciences.

Regional Trends: Laboratory consolidation and cost constraint shrink the overall market in Europe. Moreover, an estimated X% of researchers develop their own arrays (home-brew).
• The APAC market gains more popularity due to increased investment from foreign companies in emerging nations such as Japan, China, and India.
• Moreover, sustainability of clinical trials is never a problem as this territory presents a huge patient pool. Local mergers and acquisitions and governmental funding and expansion into complex research will drive the industry forward.
• In the US, the diagnostic field has had an uptake of miRNA research in the past decade, and the pharmaceutical companies are slower with the release of miRNA-based therapeutic products.
• The growth of therapeutic and diagnostic companies in the US will present a large opportunity in the market. At the same time, the US sequestration measures are expected to slow down the market.

Scope and Segmentation

Geographic Coverage: Global
Geographic Segmentation: US, Europe, APAC, and RoW
Europe: Western Europe, Central and Eastern Europe
APAC: Singapore, Japan, Taiwan, India, China, South Korea, Australia, New Zealand, Middle East, Malaysia
RoW: Africa, Latin America, Russia

Market Segmentation:
- Tools: miRNA qRT-PCR, miRNA Microarray, Functional Analysis
- Services: Expression Profiling, Phenotypic Screening

Study period: 2009–2017
Base year: 2012
Forecast period: 2013–2017

Monetary unit: US Dollars

• Revenues for the miRNA tools are obtained from 3 major segments—the miRNA qRT-PCR, miRNA microarray, and functional analysis tools. To maintain the scope of research, home-brew kits and instruments pertaining to sequencing technologies have not been considered for the calculation.
• Revenues from the miRNA services market are computed from the academic laboratories and other commercial laboratories across the globe that use certified technologies from the market leaders to profile miRNAs.

Key Questions This Study Will Answer

What are the key technologies currently used for miRNA expression? Which of the technologies are likely to have growth?
Are the products/services offered currently meeting customer needs, or is there any additional development needed?
Which competitors are competing successfully in their technology segments and why?
How will the structure of the market change over time? Is it ripe for acquisitions?
How supportive are the current regulatory bodies, what impact do they have in various regions?
How does the use of miRNA attribute towards the growth of diagnostic and therapeutic sector?

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