RNA therapeutics is an emerging class of biotherapeutics that leverages RNA interference (RNAi) and RNA as a drug molecules. One of the key advantages of RNA therapeutics is the high specificity with which they can knock down or modulate individual disease-causing genes. The current focus of RNA therapeutics development is on infectious diseases, cancer, cardiovascular diseases, genetic diseases and neurological diseases. The growing consumer preference for personalized medicines and the rising cases of genetic diseases are fueling the need for effective RNA therapeutics.
The RNA Therapeutics Market is estimated to be valued at US$ 2.5 Bn in 2024 and is expected to exhibit a CAGR of 68% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the RNA therapeutics market are Alphavax, Arcturus Therapeutics, Atyr Pharma, Gritstone Bio, HDT Bio and Among Others. RNA therapeutics offers immense opportunities in developing personalized therapies for cancer, viral diseases, neurological disorders. Companies are actively engaged in clinical trials to demonstrate efficacy and safety of RNA therapeutics. Major players are expanding globally to address the growing unmet need of novel therapies.
Key opportunities in the RNA therapeutics market include its potential to treat currently incurable diseases, enable modulation of multiple targets through a single drug candidate, facilitate development of personalized medicines through easy modification of RNA drug properties. The global expansion strategies adopted by key players include strategic collaborations, acquisitions, geographic and application expansions to strengthen their market presence.
Market drivers: Growing demand for personalized medicine is a key driver as RNA therapeutics facilitates development of personalized treatment approaches. Rising prevalence of genetic diseases and cancers are fueling the need for RNA therapeutics.
Market restraints: High development costs, complexity in drug design and delivery challenges are some of the key restraints. Issues related to off-target effects and immune stimulation also hamper market growth. Regulatory challenges in approving novel RNA therapeutics act as a bottleneck.
Segment Analysis
The RNA therapeutics market can be segmented based on technology, application, route of administration and end user.Based on technology, the splice switching oligonucleotides segment is dominating currently due to its major focus on rare genetic diseases and specific targeted effects. By application, the oncology segment holds the largest share owing to the increasing prevalence of cancer worldwide and ongoing clinical trials evaluating untapped potential of RNA therapeutics in tumor immunology and immunotherapy. Chemotherapy induces segment dominates due to intensive research evaluating RNA interference-based therapeutic approaches to treat various cancersBy route of administration, the intravenous segment holds a significant share due to favorable pharmacokinetic and biodistribution profiles of RNA therapeutics administered through this route of administration. Hospitals are currently the major end users of RNA therapeutics due to availability of technologically advanced healthcare infrastructure and medical reimbursement policies in most countries worldwide.
Global Analysis
North America holds a share of more than 40% of the RNA Therapeutics Market and is expected to continue its dominance during the forecast period due to strong government support and high acceptance of emerging novel biologic therapies in the region. Europe is anticipated to witness rapid growth and hold the second largest share owing to presence of skilled labor, advanced healthcare facilities and rising focus on immunotherapy for treatment of cancer and rare genetic disorders in the region. Asia Pacific exhibits a high growth rate during the forecast period due to growing burden of genetic disorders and cancer, increasing disposable income levels and supportive regulatory policies in emerging economies like India, China and Japan.
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Author Bio:
Alice Mutum is a seasoned senior content editor at Coherent Market Insights, leveraging extensive expertise gained from her previous role as a content writer. With seven years in content development, Alice masterfully employs SEO best practices and cutting-edge digital marketing strategies to craft high-ranking, impactful content. As an editor, she meticulously ensures flawless grammar and punctuation, precise data accuracy, and perfect alignment with audience needs in every research report. Alice's dedication to excellence and her strategic approach to content make her an invaluable asset in the world of market insights. (LinkedIn: www.linkedin.com/in/alice-mutum-3b247b137 )
What Are The Key Data Covered In This RNA Therapeutics Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the RNA Therapeutics's growth between 2024 and 2031.
:- Accurate calculation of the size of the RNA Therapeutics and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- RNA Therapeutics Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market's competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of RNA Therapeutics vendors
FAQ’s
Q.1 What are the main factors influencing the RNA Therapeutics?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top RNA Therapeutics companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the RNA Therapeutics’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it