Non-Coding RNA Assays Market - Regional Analysis
North American Market Forecast
North America industry is poised to account for largest revenue share of 40% by 2035. The growth of the market can be attributed majorly to the availability of a large number of biotechnology and pharmaceutical companies. The development and marketing of non-coding RNA tests are made possible by a large number of biotechnology and pharmaceutical firms in the region. For instance, the numerous biotechnology and pharmaceutical firms can contribute to the advancement and commercialization of non-coding RNA tests, resulting in enhanced illness detection and the creation of novel treatment approaches. Further, the increasing government funding for research and development activities is also anticipated to contribute to the market growth in the region. In addition, the region's expanding healthcare industry is also anticipated to boost market growth during the forecast period. As per data, more than 60% of newly approved drugs in the US are the result of work done by small biotech companies.
Europe Market Forecast
The European non-coding RNA assays market is estimated to be the second largest and is projected to grow with the highest CAGR during the forecast period. The growth of the market can be attributed majorly to the presence of a large number of academic research institutions. For instance, non-coding RNA assays in the region may be significantly impacted by the presence of academic research institutes. These organizations frequently have access to resources such as skilled researchers, and well-equipped labs that can assist in non-coding RNA research, which as a result is anticipated to contribute to the market growth in the region.
APAC Market Statistics
Further, the market in the Asia Pacific, amongst the market in all the other regions, is projected to hold a majority of the share by the end of 2035. The growth of the market can be attributed majorly to the growing investment in biotech companies. For instance, as the biotechnology industry in the region is growing, it is likely that more companies are assumed to invest in research and development of non-coding RNA assays, which is expected to lead to the development of new technologies and tools for detecting and measuring non-coding RNAs. In addition, this is projected to speed up the search for novel illness biomarkers and the creation of non-coding RNA-targeting medications. Further, the surging development and adoption of advanced biotechnology in developing countries, including, India, China, and Japan, is also anticipated to contribute to the market growth in the region.
