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HEALTHCARE & PHARMACEUTICAL

Non-Coding RNA Assays Market Segmentation by Type (Regulatory, and Infrastructural); by Size {Small (less than 360 Reactions), Medium (360-750 Reactions), Large (750-2900 Reactions), and Others}; and by End-User (Laboratories, Research Centers, Hospitals, Ambulatory Surgical Centers, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • November, 2021: Thermo Fisher Scientific Company launched new IVD system for assay developers and clinical laboratories to facilitate molecular diagnostics growth.

  • March, 2021:  CD Genomics launched the low-coverage sequencing which can effectively identify novel variants in the genomic databases.

Global Non-Coding RNA Assays Market Highlights over 2022 – 2030

The global non-coding RNA assays market is estimated to grow at a robust CAGR over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing usage of non-coding RNA for regulating gene expression in medical research and development activities. Non-coding RNA works as cellular regulators without encoding protein, which is why, it is used immensely in genomics and biotech research projects. Increasing government investment in medical R&D activities, along with favorable reimbursement policies for promoting life science research projects, are anticipated to boost the market growth. For instance, in the U.S. around USD 100 billion were invested in biotech companies, in 2020.

Non-Coding RNA Assays Market

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The market is segmented by end-user into laboratories, research centers, hospitals, ambulatory surgical centers, and others, out of which, the research centers segment is anticipated to hold the notable share in the global non-coding RNA assays market over the forecast period on account of increasing demand for new drugs and treatment methods for various rare genetic diseases. Additionally, non-coding RNA, or ncRNA, is used extensively for genomic research, which is estimated to boost the segment growth.

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Non-Coding RNA Assays Market Regional Synopsis

On the basis of geographical analysis, the global non-coding RNA assays market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing development and adoption of advanced biotechnology in developing countries, including, India, China, and Japan. Moreover, increasing investment in biotech companies is further projected to boost the market growth. According to the data by the India Brand Equity Foundation (IBEF), around 2,500 biotech companies were established in the country. The patient pool in India is estimated to increase by 20% by 2030.

The market in the North America region is anticipated to gain the largest market share throughout the forecast period on the back of increasing healthcare research expenditure, and adoption of advanced technology in the region.

Global Non-Coding RNA Assays Market

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The global non-coding RNA assays market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global non-coding RNA assays market includes the following segments:

By Type

  • Regulatory
  • Investigative

By Size

  • Small (Less than 360 Reactions)
  • Medium (360-750 Reactions)
  • Large (2900 Reactions)
  • Others

By End-User

  • Laboratories
  • Research Centers
  • Others

Growth Drivers

  • Growing Investment in Medical Research
  • Increasing Government Initiatives to Promote Life Science Research Projects

Challenges

  • Lack of Researchers in Developing Countries

Top Featured Companies Dominating the Market

  • Thermo Fisher Scientific Company
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Springer Nature Limited
  • Applied Microarrays Inc.
  • C D Genomics
  • RELX Group
  • MilliporeSigma
  • QIAGEN
  • Agilent Technologies, Inc.
  • Danaher Corporation
  • Eppendorf SE

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