What are RNA based therapeutics? How Large is RNA based therapeutics Market?
RNA treatment is a term used to portray the usage of RNA-based particles to change regular pathways to fix a specific condition. When in doubt, the RNA progression is the best approach to controlling the explanation or activity of its objective particles. The expansion in number of patients experiencing ongoing illnesses, further energizes the development of the worldwide RNA Based Therapeutics market.
The market across North America ruled in 2020, collecting more than two-fifths the worldwide RNA based therapeutics market. High use on Research and development, presence of central parts and their item accessibility, and deeply grounded medical services foundation in the area impel the market development. All the while, the Asia-Pacific area is additionally expected to refer to the quickest CAGR of 18.9% all through the estimate period. This is credited to upgrades in Research and development offices, accessible discretionary cashflow, and quickly creating monetary circumstances.
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The RNA based therapeutics has been explored as a promising treatment option for the diseases which are difficult to treat. Development of this therapeutics is based on promising technologies such as RNA interference technology (RNAi), antisense technology. Moreover, Cancer diagnosis and treatment is currently undergoing a shift with the incorporation of RNAi techniques in personalized medicine and molecular diagnostics, also for the diagnostic purposes, small interfering RNAs (siRNA) or microRNAs (miRNA) can be utilized.
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.
Get detailed COVID-19 impact analysis on the RNA Based Therapeutic Market-
|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|
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.
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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Depending on end user, the market is categorized into research institutes, academic institutes, and hospitals & clinics. The research institutes segment is projected to show fastest growth during the forecast period, due to the collaboration of research organizations and academic research institutes or collaborating with government bodies to bear the high cost of research.
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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?