(EMAILWIRE.COM, November 21, 2023 ) The report “RNA Therapeutics Market by Product (Vaccines, Drugs), Type (mRNA Therapeutics, RNA Interference, Antisense Oligonucleotides), Indication (Infectious Diseases, Rare Genetic Diseases), End User (Hospitals & Clinics) – Global Forecast to 2028″, is projected to grow from USD 13.7 billion in 2023 to USD 18.0 billion by 2028 at a CAGR of 5.6%.
Download PDF Brochure :-https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=235963408
Growth in this market is largely driven by factors such as the increasing number of partnerships and collaborations among market players and RNA technology manufacturers, expanding modalities for RNA therapeutics, and the rising number of emergency use authorizations and approvals for COVID-19 booster vaccines. The emergence of small activating RNAs (saRNAs) and circular RNAs (circRNAs) has expanded the scope of RNA therapeutics. saRNAs are 21-nucleotide long double-stranded RNAs (dsRNAs) complementary to the promoter region of a targeted gene. They can upregulate gene expression, potentially correcting deficiencies associated with genetic disorders and re-activating tumor suppressor genes in multiple types of cancers. On the other hand, the discontinuation/recalls of RNA therapeutic products is expected to hinder market growth.
The vaccines segment accounted for the largest share of the RNA therapeutics market in 2022.
Based on product, the RNA therapeutics market is segmented into drugs and vaccines. In 2022, vaccines represented majority of the market share and is anticipated to maintain this dominance throughout the forecast period. Two key vaccine products that have showcased majority revenue contribution in this segment, include Spikevax (Moderna, Inc.) and Comirnaty (Pfizer, Inc.) vaccines. Additionally, these COVID-19 vaccines showcased a considerable revenue growth between from 2021 and 2022. On the other hand, the recent recall/discontinuation of Spikevax (Moderna, Inc.) is anticipated to hinder the revenue growth post 2022. Increase in the development of innovative RNA medicine companies in the RNA therapeutics market has rendered it the fastest growing segment during the forecast period.
The RNA interference (RNAi) therapeutics segment is expected to grow at the highest CAGR from 2023 to 2028.
Based on the type, the RNA therapeutics market is segmented into RNA interference (RNAi) therapeutics, mRNA therapeutics, antisense oligonucleotide (ASO) therapeutics, and other therapeutics. Factors associated with RNA interference (RNAi) therapeutics such as precision and versatility have increased the potential of RNAi applications in personalized medicine and other clinical applications. On the other hand, the mRNA therapeutics segment accounted for the highest share in the global market in 2022 and is expected to maintain this trend through 2021-2028. The advantages of mRNA over DNA or proteins/peptides coupled with advent of novel vaccine and molecular entities are the key attributive reason to this dominance.
The infectious diseases segment accounted for the largest share in the RNA therapeutics market in 2022.
Based on the indication, the RNA therapeutics market is segmented into infectious diseases, rare genetic diseases/hereditary diseases, and other indications. The large share of the infectious diseases segment is a result of the rapid developments in RNA vaccine manufacturing capabilities for the treatment of infectious diseases along with the outbreak of COVID-19. Demand for mRNA vaccines grew significantly through 2021-2022, for immunization against SARS-COV-2 infection.
Increase in the use of RNA-based therapeutics for the treatment of rare/genetic disorders contributes to the high share of hospitals & clinics.
The RNA therapeutics market is segmented into hospitals and clinics and research settings. The growing use of RNA therapeutics across hospitals and clinics is driven by factors such as the increasing understanding and advancements of RNA-based therapeutics, the growing number of trends in personalized medicine, the increasing prevalence of chronic diseases, and the rising research investments by governments, private foundations, and industry stakeholders.
Europe dominates the global RNA therapeutics market throughout the forecast period.
The global RNA therapeutics market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the Rest of the World. Europe leads the market for RNA vaccines, with highest share of revenue in this segment in 2022. North America has emerged as the fastest growing region from 2023 to 2028. The collective revenue share of Europe, across both RNA vaccines and RNA drugs is highest in 2022, and this is set to continue through the forecast period.
Request for Sample Pages:-https://www.marketsandmarkets.com/requestsampleNew.asp?id=235963408
The prominent players in the global RNA therapeutics market include Moderna, Inc. (US), Alnylam Pharmaceuticals, Inc. (US), Pfizer Inc. (US), Novartis AG (Switzerland), Ionis Pharmaceuticals, Inc. (US), Sarepta Therapeutics, Inc. (US), Sanofi (France), Arrowhead Pharmaceuticals, Inc. (US), BioNtech SE (Germany), Orna Therapeutics (US), CRISPR Therapeutics (Switzerland), Silence Therapeutics (UK), Astellas Pharma Inc. (Japan), CureVac SE (Germany), Sirnaomics (US), Arcturus Therapeutics Inc. (US) and Arbutus Biopharma (US).