The global rna based therapeutics market size was worth around USD 13.66 billion in 2023 and is predicted to grow to around USD 24.07 billion by 2032 with a compound annual growth rate (CAGR) of roughly 6.50% between 2024 and 2032.
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Growth Factors for the RNA-Based Therapeutics Market
The use of RNA-based therapies to treat a range of human ailments has expanded due to technological advancements in biopharmaceutical medications. For a variety of disease targets, including HIV, genetic diseases, various malignancies, etc., RNA-based therapies are becoming more and more significant. In addition to illustrating the remarkable utility of RNA, RNA-based treatments include therapeutic ribozymes, small interfering RNAs (siRNAs), and aptamers.
The prevalence of cancer is rising quickly worldwide. Cancer was the second most common cause of death worldwide in 2018. In the same year, there were 9.6 million cancer-related deaths worldwide and close to 18.1 million new cases. The need for selective target-specific treatment options, such RNA-based therapies, is rising in tandem with the number of cancer cases. The global market for RNA-based therapies is being driven by the growing preference for targeted therapy since it has fewer adverse effects than standard medication. The market expansion is also anticipated to be further bolstered by expanding government support and financing for research and development, public-private investments, and strategic collaborations and funding for R&D.
Technological developments including RNAi interference technology, SMaRT technology, and antisense technology, as well as an aging population, an increase in the prevalence of chronic diseases, and rising healthcare costs, are additional factors driving the growth of the RNA-based therapies market. However, the high cost of RNA-based therapies’ research and development could restrain the market’s expansion globally. On the other hand, RNA-based therapies producers may find chances in developing markets and early pipeline treatments commercialization to obtain a competitive edge.
We have provided a competition landscape and an analysis of Porter’s Five Forces model for the market to provide readers with a thorough understanding of the RNA-based therapeutics industry. The study includes a market attractiveness analysis, in which the market size, growth rate, and overall attractiveness of each segment are compared to one another.
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The Global RNA Based Therapeutics Market is segmented based on product, application and region
Global RNA Based Therapeutics Market: Product Segment Analysis
● Cardiovascular
● Kidney Diseases
● Oncology
● Infectious Diseases
● Metabolic Disorders
● Others
Global RNA Based Therapeutics Market: Application Segment Analysis
● Research
● Therapeutics
● Diagnosis
● Others
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The Global RNA Based Therapeutics market profiles key players such as:
● Quark Pharmaceuticals
● Alnylam Pharmaceuticals
● Dicerna Pharmaceuticals
● Tekmira Pharmaceuticals
● Benitec Biopharma
● Genzyme Corporation
● Ionis Pharmaceuticals
● Silence Therapeutics
● Cenix BioScience
● Sirnaomics
Market Analysis for RNA-Based Therapeutics by Region
With its further division into key nations like the United States, Germany, France, the United Kingdom, China, Japan, India, and Brazil, the regional section covers the present and anticipated demand for North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
With a roughly 40% revenue share, North America led the global RNA-based therapies market in 2018. The expansion of the North American RNA-based therapeutics market is being driven by the existence of major market players, rising investments in RNA-based therapeutics research, advantageous government funding policies, the availability of developed research infrastructure, and developments in RNA platform technologies. The key companies are anticipated to have multiple growth prospects in the Asia Pacific RNA-based therapies market.
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