The outbreak of coronavirus is a shock to the world’s economy. It has caused a huge disturbance in almost all industries. As coronavirus has become the main focus, all research institutes, biotech and pharmaceutical companies are appointed in collaboration work to deal with Covid-19. This led to the shifting of their focus and also all the resources from making other drugs to coronavirus vaccines. This is hampering the growth of the global small RNA detection market.
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Small RNA Detection Market: Drivers and Restraints-
The increasing prevalence of cancer and cardiovascular diseases is the major driver of the global small RNA detection market growth. Cancer is the leading cause of death in Canada that accounts for around 30% of the total deaths and this count is expected to increase in the future across the globe. Hence, there is an urgent need for cancer detection and effective diagnosis technology.
Furthermore, the increasing use of technologically advanced systems and bioinformatics is likely to boost the growth of the global small RNA detection market. However, the difficulties related to the development of in-house small RNA detection tools such as microarrays, and quantification are expected to restrain small RNA detection market growth.
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Small RNA Detection Market: Segmentation
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Small RNA Detection Market: Overview
Based on the method type, the quantitative real-time PCR tool segment is expected to hold a major share in the small RNA detection market due to its quantitative and high sensitivity nature. Based on the application, the cancer segment is expected to dominate the small RNA detection market due to the increasing prevalence of the disease across the globe. Based on the end-user, biotech companies are expected to be the most dominating segment in the global small RNA detection market due to the increase in research undertaken.
Small RNA Detection Market: Region-wise Outlook
The global small RNA detection market is expected to be dominated by North America, due to the increasing advancement in the technology and ongoing research in the region. Europe is expected to be the next most dominant region, due to the rising biotech companies in the region and rising investments by the government.
Asia-Pacific is expected to have a significant growth in the global small RNA detection market over the forecast period due to the rising incidence of cancer and other chronic disorders and rising investment by foreign countries in India and China. Furthermore, the increase in research undertaken to explore the role of small RNAs in the development, diagnosis, and treatment of diseases is likely to drive the small RNA detection market in the region.
Small RNA Detection Market: Key Market Participants
Some of the market players in the global small RNA detection market identified across the value chain include: Roche Holding AG, Thermo Fisher Scientific, WIN Semiconductors Corp., QIAGEN, Agilent Technologies, Inc., and others.
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