North America miRNA Sequencing And Assays Market Size and Growth Rate:
The North America miRNA sequencing and assays market is forecasted to reach USD 341.0 million by 2024 from USD 181.0 million in 2018, at a CAGR of 11.0%.
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North America miRNA Sequencing And Assays Market Growth Drivers and Restraints:
The miRNA sequencing and assays market is driven by several factors such as the benefits of miRNA sequencing over other technologies, increasing research funding for genomics, and the reducing cost of sequencing. But, the dearth of skilled professionals is expected to limit market growth to a certain extent.
Although the factors such as the superiority of miRNA sequencing over other techniques coupled with a significant reduction in the cost of sequencing are making the North American miRNA sequencing and assay market,the threat of potential artifacts error and high-cost infrastructure requirements are projected to restrain the market growth.
The sequencing by synthesis segment commanded the market with the largest share in 2018 due to the technological improvements in sequencing platforms and the decreased costs. Sequencing consumables ruled the market with a larger share in 2018. The large share of this segment can essentially be attributed to the repeat purchases of kits due to their special requirement and the high costs compared to library preparation kits. In 2017, academic and research institutes accounted for the highest share of the miRNA sequencing & assays market. The large share of this section can be attributed to the availability of research grants and the growing focus of market players on providing efficient miRNA sequencing products and help for research applications.
North America miRNA Sequencing And Assays Market Geographical Segmentation:
North America accounted for the largest share of the market in 2018. Factors such as growing investments in the development of sequencing, developing research in the fields of genomics and RNA biology, and the growing demand for economical, high-throughput techniques for miRNA analysis are encouraging the growth of the market in this region.
Illumina, a leading player in the market, gives an extensive product portfolio of miRNA sequencing kits and assays. It has a notable presence in more than 100 nations including major markets such as Germany, US, China, and Japan. Illumina focuses on natural and inorganic growth strategies such as companies and collaborations to remain competitive in the market. In the latest three years, it collaborated with several organizations such as BioRad (US) and Thermo Fisher Scientific (US) as well as included a new, smaller, and cheaper NGS programs such as the iSeq 100.
Key Players of the North America miRNA Sequencing And Assays Market:
The North American miRNA sequencing and assays market include main players such as Illumina (US), Thermo Fisher Scientific (US), and BioRad (US), among others.
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