Allied Market Research recently published a research report on “RNA Based Therapeutic Market by Disease Type (RNA interference (RNAi) and RNA antisense), Application (Genetic Disorders and Auto Immune Disorders) and End User (Research Institutes, and Hospitals & Clinics): Global Opportunity Analysis and Industry Forecast, 2021-2030” in its research database.
According to a recent research study, the global RNA based therapeutics industry was estimated at $4.93 billion in 2021, and is anticipated to hit $25.12 billion by 2030, registering a CAGR of 17.6% from 2021 to 2030.
What are RNA based therapeutics? How Big is RNA based therapeutics Market?
RNA treatment is a term used to depict the utilization of RNA-based particles to tweak natural pathways to fix a particular condition. As a general rule, the RNA succession is the way to controlling the articulation or action of its objective particles. The increase in number of patients suffering from chronic diseases, further fuels the growth of the global RNA Based Therapeutics market.
The market across North America dominated in 2020, garnering more than two-fifths the global RNA based therapeutics market. High expenditure on R&D, presence of major players & their product availability, and well-established healthcare infrastructure in the region propel the market growth. Simultaneously, the Asia-Pacific region is also expected to cite the fastest CAGR of 18.9% throughout the forecast period. This is attributed to improvements in R&D facilities, available disposable income, and rapidly developing economic conditions.
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Rise in initiatives from government for large-scale sequencing projects drives the growth of the global RNA based therapeutics market. On the other hand, hurdles in drug delivery, high cost of research, and threats of failure restrain the growth to some extent. However, early commercialization of pipeline therapeutics is expected to create lucrative opportunities in the industry.
(𝐈𝐧 𝐭𝐨𝐝𝐚𝐲’𝐬 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐦𝐚𝐫𝐤𝐞𝐭, 𝐢𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐢𝐬 𝐚 𝐜𝐫𝐢𝐭𝐢𝐜𝐚𝐥 𝐬𝐭𝐞𝐩 𝐢𝐧 𝐢𝐝𝐞𝐧𝐭𝐢𝐟𝐲𝐢𝐧𝐠 𝐭𝐡𝐞 𝐜𝐨𝐫𝐫𝐞𝐜𝐭 𝐭𝐚𝐫𝐠𝐞𝐭 𝐜𝐨𝐧𝐬𝐮𝐦𝐞𝐫𝐬 𝐚𝐧𝐝 𝐩𝐫𝐨𝐯𝐢𝐝𝐢𝐧𝐠 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐬𝐞𝐝 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬 𝐟𝐨𝐫 𝐭𝐡𝐞𝐢𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐧𝐞𝐞𝐝𝐬. 𝐖𝐡𝐢𝐥𝐞 𝐟𝐨𝐫𝐦𝐮𝐥𝐚𝐭𝐢𝐧𝐠 𝐭𝐡𝐞𝐬𝐞 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬, 𝐞𝐯𝐞𝐫𝐲 𝐟𝐚𝐜𝐞𝐭 𝐚𝐧𝐝 𝐬𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐩𝐫𝐨𝐛𝐥𝐞𝐦 𝐩𝐫𝐞𝐬𝐞𝐧𝐭𝐞𝐝 𝐛𝐲 𝐭𝐡𝐞 𝐩𝐚𝐫𝐭𝐢𝐜𝐮𝐥𝐚𝐫 𝐬𝐞𝐜𝐭𝐨𝐫 𝐢𝐬 𝐭𝐡𝐨𝐫𝐨𝐮𝐠𝐡𝐥𝐲 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐞𝐝. 𝐈𝐭 𝐚𝐥𝐬𝐨 𝐜𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐬 𝐧𝐮𝐦𝐞𝐫𝐨𝐮𝐬 𝐠𝐨𝐯𝐞𝐫𝐧𝐦𝐞𝐧𝐭 𝐫𝐞𝐟𝐨𝐫𝐦𝐬, 𝐭𝐡𝐞 𝐜𝐨𝐦𝐩𝐞𝐭𝐢𝐭𝐢𝐯𝐞 𝐞𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭, 𝐜𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐛𝐞𝐡𝐚𝐯𝐢𝐨𝐮𝐫, 𝐜𝐮𝐫𝐫𝐞𝐧𝐭 𝐚𝐧𝐝 𝐟𝐮𝐭𝐮𝐫𝐞 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬, 𝐚𝐧𝐝 𝐫𝐚𝐩𝐢𝐝𝐥𝐲 𝐜𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐭𝐞𝐜𝐡𝐧𝐢𝐜𝐚𝐥 𝐛𝐫𝐞𝐚𝐤𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐬. 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐚𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐚𝐢𝐝𝐬 𝐢𝐧 𝐭𝐡𝐞 𝐟𝐨𝐫𝐦𝐮𝐥𝐚𝐭𝐢𝐨𝐧 𝐨𝐟 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐩𝐥𝐚𝐧𝐬 𝐚𝐧𝐝 𝐩𝐨𝐥𝐢𝐜𝐢𝐞𝐬.)
Impact of COVID-19 on RNA Based Therapeutics Market–
There was a steep decline in the number of patients visiting clinics and hospitals for RNA based therapies, which, in turn, decreased the demand for RNA based therapeutic products, especially during the initial phase of the pandemic. This impacted the global RNA based therapeutic market negatively.
- Also, mRNA vaccines could potentially offer long-term solutions all over the world for diseases ranging from influenza to AIDS, but owing to lockdown measures and temporary closure of research institutes and academic research, the demand for RNA based therapeutic solutions decreased significantly.
- This trend is quite likely to continue till the pandemic is completely over.
Some of the Top Market Players Are:
- Silence Therapeutics plc.
- Arbutus Biopharma Corporation
- Ionis Pharmaceuticals
- Sarepta Therapeutics
- Alnylam Pharmaceuticals, Inc.
- Benitec Biopharma Inc.
- Genzyme (Sanofi), Arrowhead Pharmaceuticals
- Biogen, Inc.
- Gradalis, Inc.
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|Market Outlook for 2030||USD 25,121.95 million|
|Market Size 2021 Value||USD 4,938.38 million|
|Expected CAGR Growth||17.6% from 2021 – 2030|
|Forecast Year||2021 – 2030|
|Top Market Players||Alnylam Pharmaceuticals, Inc., Silence Therapeutics plc, Arbutus Biopharma Corporation, Genzyme (Sanofi), Ionis Pharmaceuticals, Sarepta Therapeutics, Benitec Biopharma Inc, Arrowhead Pharmaceuticals, Biogen, Inc and Gradalis, Inc.|
|Segments Covered||By Product, By Procedure, By Application, By End-Use, By Region|
|Regional scope||North America, Europe, Asia Pacific, Latin America; Middle East & Africa|
|Customization Options||Customized purchase options are available to meet your research needs. Explore customized purchase options|
Also Read Press Release: RNA Based Therapeutic Market Expected to Reach $ 25,121.95 million by 2030
Key Findings of the Study
- By type, the RNA antisense segment held the largest RNA based therapeutics market share in 2020 and RNA interference (RNAi) is expected to have fasted share during the forecast period.
- By application, the genetic disorders segment held the largest market share in 2020 and is expected to remain dominant during the forecast period.
- By end user, the research institute held the largest market share in 2020 and is expected to remain dominant during the forecast period.
- By region, North America is expected to experience market growth at the highest rate, registering a CAGR of 17.5% during the forecast period.
Allied Market Research has segmented the RNA Based Therapeutic Market report on the basis of procedure, application, end-user, and region:
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By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Spain, Netherlands, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
Important Questions Being Answered by the Market Report
- What is the RNA Based Therapeutic Market size and growth?
- What are the prominent and latest trends impacting the market?
- Which regions will observe growth on new occasions?
- Which players are adopting a functioning and planned framework to obtain customer loyalty?
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