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.
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.
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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.
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.
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The RNA antisense segment to retain the lion's share-
On the basis of type, the RNA antisense segment held the major share in 2020, garnering nearly two-thirds of the global RNA based therapeutics market, due to increase in revenue of RNA antisense drug discovery and therapeutics. The RNA interference (RNAi) segment, on the other hand, is expected to register the fastest CAGR of 18.8% throughout the forecast period.
The genetic disorder segment to dominate by 2030-
On the basis of application, the genetic disorder segment contributed to the lion's share in 2020, holding more than three-fifths of the global RNA based therapeutics market, owing to surge in cases of genetic diseases, rare disorders, and molecular diagnostics. The same segment is also projected to manifest the fastest CAGR of 18.2% from 2021 to 2030. The report also analyzes the autoimmune disorder segment.
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North America held the major share in 2020-
By region, 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.
Key players in the industry-
- Silence Therapeutics plc.
- Arbutus Biopharma Corporation
- Ionis Pharmaceuticals
- Sarepta Therapeutics
- Alnylam Pharmaceuticals, Inc.
- Benitec Biopharma Inc.
- Genzyme (Sanofi), Arrowhead Pharmaceuticals
- Biogen, Inc.
- Gradalis, Inc.
