May 4 2009
Despite growing competition from new entrants, 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 offers the capability of moving from bench to bedside faster than most research fields, as diagnostic tests have already emerged from this young field.
New analysis from Frost & Sullivan, U.S. MicroRNA Markets, finds that the market earned revenues of over $20.3 million in 2008 and estimates this to reach $98.6 million in 2015.
If you are interested in a virtual brochure, which provides a brief synopsis of the research and a table of contents, then send an email to Christina Alfaro, Corporate Communications, at christina.alfaro[.]frost.com, with your full name, company name, title, telephone number, company email address, company website, city, state and country. Upon receipt of the above information, a brochure will be sent to you by email.
"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."
Trends indicate 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.
While the young field continues to discover novel microRNAs in large numbers, it has already produced diagnostic results and demonstrated therapeutic potential. This 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.
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."
Fierce competition in this space has propelled product differentiation to the forefront of marketing strategies. Researchers often exclusively focus on microRNAs important in their fields of research, thus specialized products containing the required microRNA targets may prove to be more attractive and economical options compared to comprehensive arrays. Vendors will gravitate toward more research-specific products, as more in-depth research is conducted and microRNAs are catalogued into particular fields.
Companies that are first to roll out such products will obtain increased visibility and improve brand recognition in specific fields. This will enable participants to garner a majority of the market share, especially in niche research areas. Companies that find a unique slot in the market hierarchy and continue to support technology innovation over the next few years can hope to attain higher revenues in the future.
U.S. MicroRNA Markets is part of the Drug Discovery and Clinical Diagnostics Growth Partnership Service program, which also includes research in the following markets: U.S. nucleic acid purification and isolation markets, U.S. qRT-PCR markets, U.S RNAi markets, and U.S. DNA microarray markets. All research services included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.