The Global RNA Based Therapeutics market size was valued at US$ 5.26 billion in 2021 and is expected to grow at a compound annual growth rate (CAGR) of 18.60% from 2022 to 2030. RNA-based therapeutics is a moderately new class of treatment representing significant potential and growth for the treatment of severe and rare diseases. RNA-based therapeutics are gaining significance for several disease targets, such as genetic disorders, HIV, cancer, etc. The growing prevalence of chronic diseases and lack of proper treatment is generating high demand for the development of RNA-based therapeutics. For instance, according to WHO, cancer ranked number two as a cause of death, and about 9.6 million deaths occurred in 2018. Moreover, the rising prevalence of genetic diseases, hematological disorders are generating the global demand for RNA-based therapeutics. Moreover, advancements and development of promising technologies such as SMaRT technology, antisense technology, and RNAi interference technology are expected to generate immense opportunities for the growth of the market in the coming years.
According to the latest research by InsightAce Analytic, the global market for RNA-based therapeutics was valued at US$ 1,756.5 Mn in 2019 and recording an exponential CAGR of 24.6% during the period of 2019-2030. The strong base on ongoing studies for RNA-based therapeutics and the presence of a large number of players investing in the market is estimated to propel the growth of the market significantly over the estimated timeframe. In July 2018, about 320 ongoing clinical studies for RNA-based therapeutics were registered. The introduction of these potential therapies in the coming years is expected to significantly boost the market's overall growth. However, challenges connected with the commercialization of RNA-based therapies such as drug delivery and toxicity may substantially hamper the market growth. Moreover, the high cost of development may hinder the growth of the market. The lack of substitute treatment selections for rare diseases further enhancing the demand for RNA-based therapeutics globally. Additionally, a growing focus of legislative bodies on evolving reimbursement policies is fueling the development of RNA’s molecules process.
The Global RNA-Based Therapeutics Market is segmented based on drug class, therapeutic area, and region. Based on the drug class, the RNA-based therapeutics market is divided into RNA Aptamer, siRNA, Antisense RNA, and mRNA. Based on the therapeutic area, the market is segmented into Oncology, Genetic Disorder, Ophthalmology, Hematological Disorders, Acute Hepatic Porphyria (AHP), and Others. On the basis of the region, the market is studied across North America, Asia-Pacific, Europe, and LAMEA. North America is estimated to account for a leading position in the global RNA-based therapeutics market in 2019. The presence of a well-established healthcare system, high adoption of technically advanced tools, high government support, and the presence of a large number of companies focusing on RNA-based therapeutics are some of the key factors boosting the market growth in North America. In terms of growth rate, Asia Pacific is expected to register significant increase in the RNA- based therapeutics market during the estimated timeframe.
The key players of this market include Akcea Therapeutics Inc, Biogen Inc., Noxxon Pharma, Ophthotech Corporation, Olix Pharmaceuticals, GlaxoSmithKline Plc, Sanofi S.A, Alnylam Pharmaceuticals, Ionis Pharmaceuticals, Benitec Biopharma Ltd, Acuitas Therapeutics, Arbutus Biopharma, Silence Therapeutics Plc, Enzon Pharmaceuticals Inc, Bio-Path Holdings Inc., Calando Pharmaceuticals (Arrowhead Pharmaceuticals, Inc.), Antisense Therapeutics Ltd., Gene Signal, Gradalis, iCo Therapeutics, Lorus Therapeutics (Aptose Biosciences), miRagen Therapeutics, Mirna Therapeutics Inc, Marina Biotech, OncoGeneX Pharmaceuticals, Quark Pharmaceuticals, Pharmaxis Ltd, Rexahn Pharmaceuticals, Regulus Therapeutics, Rxi Pharmaceuticals, Santaris Pharma A/S (Roche), Sarepta Therapeutics, Sirnaomics Inc., and Dicerna Pharmaceuticals. The growing strategic collaborations among the big biopharmaceutical companies to influence the platform of proprietary technology are expected to significantly generate immense opportunities for the growth of the market in the coming years.