According to the report, the global RNA based therapeutics market was approximately USD 1.1 billion in 2018 and is expected to generate around USD 1.97 billion by 2025, at a CAGR of around 8.7% between 2019 and 2025.
New York, NY, June 12, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “RNA Based Therapeutics Market by Technology (Enabled Technology and Enabling Technology), by Application (Kidney Diseases, Cardiovascular, Metabolic Disorders, Infectious Diseases, Oncology, and Others), and by End-User (Research, Diagnosis, Therapeutics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025”. According to the report, the global RNA based therapeutics market was approximately USD 1.1 billion in 2018 and is expected to generate around USD 1.97 billion by 2025, at a CAGR of around 8.7% between 2019 and 2025.
Worldwide cancer prevalence is increasing rapidly. In 2018, cancer was the second leading death cause globally. There were nearly 18.1 million new cancer cases and 9.6 million deaths across the globe in the same year. With increasing cancer cases, there is a growing demand for selective target specific treatment options, such as RNA-based therapeutics. The rising preference for targeted therapy due to its fewer side effects over traditional therapy is driving the RNA based therapeutics market globally. Additionally, strategic partnerships and funding for research and development, increasing public-private investments, and growing government support and funding for research and development are likely to further boost the market growth.
Browse through 54 Tables & 29 Figures spread over 110 Pages and in-depth TOC on “Global RNA Based Therapeutics Market Size, Share 2018: Industry Type, Growth, Segments, Analysis and Forecast, 2025”.
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Other factors contributing to the RNA based therapeutics market growth are technological advancements, such as RNAi interference technology, SMaRT technology and antisense technology, increasing geriatric population base, rising chronic disease burden, and growing healthcare spending. However, high research and development cost of RNA-based therapeutics may limit the global RNA based therapeutics market growth.
The global RNA based therapeutics market is fragments based on technology, application, and end-user. Based on technology, the market includes enabling technologies and enabled technologies. Enabling technology segment is sub-categorized into labeling, microarrays, linear amplification, purification, inhibition, and qRT-PCR. The enabled technology segment is sub-categorized into RNA Interference (RNAi) technologies (microRNA and small interfering RNA) and RNA antisense technologies. The enabled technology segment accounted for the largest share of the global RNA based therapeutics market in 2018, owing to its potential use in therapeutic applications. RNA Interference (RNAi) technology dominated the global market in 2018, owing to the ongoing research and development activities conducted by major manufacturers in this field.
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Based on application, the market includes kidney diseases, cardiovascular, metabolic disorders, infectious diseases, oncology, and others. The oncology segment held the largest share of the global RNA based therapeutics market in 2018, owing to the increasing cancer prevalence across the globe, which has led to major manufacturers’ focus on therapeutic drug development for cancer and infectious diseases.
Therapeutics, research, diagnostics, and others comprise the end-user segment of the RNA based therapeutics market. The research segment dominated the global RNA based therapeutics market in 2018 and is expected to retain its leading position over the forecast time period as well.
Browse the full “RNA Based Therapeutics Market by Technology (Enabled Technology and Enabling Technology), by Application (Kidney Diseases, Cardiovascular, Metabolic Disorders, Infectious Diseases, Oncology, and Others), and by End-User (Research, Diagnosis, Therapeutics, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2025” Report at https://www.zionmarketresearch.com/report/rna-based-therapeutics-market
North America dominated the global RNA based therapeutics market in 2018 with a revenue share of about 40%. Increasing investments in RNA-based therapeutics research, favorable government funding policies, availability of developed research infrastructure, advancements made in RNA platform technologies are driving the North American RNA based therapeutics market growth. Furthermore, the increasing prevalence of chronic disorders, such as cardiovascular diseases, cancer, and infectious diseases is also driving this regional market. The demand for selective target-specific therapy for treating cancer and other diseases is growing rapidly due to its minimum side effects, which, in turn, is fuelling the RNA based therapeutics market. North America is expected to register the highest CAGR over the forecast time period and retain the leading market share. The U.S. represented the largest market in this region in 2018, due to growing government support and funding for research and development, the presence of prominent biopharmaceutical companies, strategic R&D collaborations with academic institutes, and rising healthcare spending.
Europe held the second spot of the global RNA based therapeutics market in 2018, due to the increasing R&D investments, growing demand for target-specific therapy, rising chronic disorder prevalence, the availability of developed healthcare infrastructure. Germany, UK, and France are major countries for RNA based therapeutics market in Europe. Germany held the largest market share in European RNA based therapeutics market, while the UK is estimated to be growing notably over the forecast time period. Increasing R&D investments by biopharmaceutical companies and favorable grants are boosting the market growth in European countries like UK, France, Germany, etc.
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The Asia Pacific RNA based therapeutics market is expected to offer several growth opportunities to the major players. Growing major manufacturers’ focus on the growth opportunities in emerging countries like India and China, rising support for RNA-based therapeutics R&D activities, developing healthcare and R&D infrastructure, increasing cancer prevalence, and escalating aging population base are prominently driving the RNA based therapeutics market in this region. China, Indi, and Japan represent the largest markets for RNA based therapeutics. China is projected to register the highest CAGR, followed by India, over the forecast time period.
The Middle East and Africa represents an un-developed regional market for RNA based therapeutics and is projected to grow at a slow pace over the forecast time period. This can be due to the lack of advanced infrastructure and a poor healthcare system. The Latin American RNA based therapeutics market witnessed moderate growth in the last few years.
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Some key players in RNA based therapeutics market include Quark Pharmaceuticals, Alnylam Pharmaceuticals, Dicerna Pharmaceuticals, Tekmira Pharmaceuticals, Benitec Biopharma, Genzyme Corporation, Ionis Pharmaceuticals, Silence Therapeutics, Cenix BioScience, and Sirnaomics.
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This report segments the global RNA based therapeutics market into:
Global RNA Based Therapeutics Market: By Technology
- Enabling Technology
- Linear Amplification
- Enabled Technology
- RNA Interference (RNAi) Technologies
- Small Interfering RNA (siRNA)
- MicroRNA (miRNA)
- RNA Antisense Technologies
- RNA Interference (RNAi) Technologies
Global RNA Based Therapeutics Market: By Application
- Kidney Diseases
- Infectious Diseases
- Metabolic Disorders
Global RNA Based Therapeutics Market: By End-User
Global RNA Based Therapeutics Market: By Region
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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