InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Nucleic Acid Therapeutics Market – (By Technology (RNA targeted therapeutics, Gene Therapies, Epigenetic and microRNA modulating therapies, Genome editing therapies, Others), By Application (Autoimmune Disorders, Genetic Disorders, Infectious Diseases, Cancer, Others), By End User (Hospitals & Clinics, Academic & Research Institutes, Others)), Trends, Industry Competition Analysis, Revenue and Forecast To 2031.”
According to the latest research by InsightAce Analytic, the Global Nucleic Acid Therapeutics Market is valued at US$ 4.93 billion in 2023, and it is expected to reach US$ 13.86 billion by 2031, with a CAGR of 13.8% during the forecast period of 2024-2031.
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Nucleic acid therapeutics refers to a group of medical procedures that make use of therapeutic nucleic acids like DNA and RNA to cure or prevent illness. The market is expected to grow because there has been a surge in research efforts to enhance healthcare systems globally due to the increasing number of chronic diseases and genetic disorders. In addition, increases in demand for pharmaceuticals and healthcare services, along with innovations in biological products and DNA therapies, are driving the nucleic acid therapeutics industry forward.
However, high prices, a lack of expertise, and outdated technology are anticipated to slow the expansion of the global nucleic acid therapeutics market. Nucleic acid therapeutics are becoming more popular as part of the movement towards personalized medicine. This approach involves designing medicines specifically for each patient based on their genetic composition. Additionally, the increased focus from pharmaceutical companies on developing nucleic acid therapeutics, faster absorption and market access, high product demand, and a thriving global market for these therapies are further factors propelling their expansion.
List of Prominent Players in the Nucleic Acid Therapeutics Market:
- Novartis
- Moderna Inc
- BioNTech
- Arrowhead Pharmaceuticals
- Merck
- Thermo Fischer Scientific
- Sanofi
- Alnylam Pharmaceuticals
- Sarepta Therapeutics
- Qiagen
- Imugene
- Copernicus Therapeutics Inc.
- Protagonist Therapeutics
- Arbutus Biopharma
- Agilent Technologies
- Silence Therapeutics (UK),
- Astellas Pharma Inc. (Japan),
- CureVac SE (Germany),
- Sirnaomics (US),
- Arcturus Therapeutics Inc. (US)
- Other Market Players
Market Dynamics:
Drivers-
The demand for nucleic acid therapeutics is being driven by the increasing number of cases of genetic illnesses, which are typically difficult to cure, such as cystic fibrosis, muscular dystrophy, and several malignancies. These treatments are being developed and discovered at a faster rate than ever before due to the substantial investments made in R&D by pharmaceutical corporations, government agencies, and academic institutions. The government has encouraged the development of drugs, which has simplified the approval procedure and created other advantageous conditions that will contribute to the expansion of the market in the coming years.
Challenges:
The nucleic acid therapeutics market is slowing growth because of the high development and production expenses. Nucleic acid therapies are not widely available to patients because of their hefty price tag. In addition to that, there are substantial technological hurdles associated with their complexity, and new treatments have trouble breaking into the market due to the extensive approval processes and stringent regulatory obligations. The general public’s and healthcare professionals’ lack of familiarity with these cutting-edge treatments also poses a challenge to their growth in the market.
Regional Trends:
The North American nucleic acid therapeutics market is expected to report a major market share in terms of revenue. It is predicted to grow at a high CAGR in the near future due to the rising prevalence of long-term diseases like diabetes and cancer, the increasing demand for targeted and individualized treatment, and encouraging initiatives by the government. Besides, Europe had a remarkable share in the market because of greater funding for research and development, which has resulted in more advancements in gene therapy and an increase in the incidence of specific diseases. Moreover, growing numbers of people, more discretionary income, and better healthcare systems are increasing smartphone ownership, which is driving the global nucleic acid therapeutics market in this region.
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Recent Developments:
- In April 2024, Arrowhead Pharmaceuticals, Inc. announced the dosing of its investigational RNA interference (RNAi) therapeutic, ARO-CFB, in a Phase 1/2a clinical trial. The trial included up to sixty-six healthy volunteers and patients with complement-mediated kidney disease.
- In Aug 2022, Merck and Orna Therapeutics entered into a collaboration agreement to jointly explore, create, and market various initiatives, such as vaccines and treatments, in the fields of infectious disease and oncology.
Segmentation of Nucleic Acid Therapeutics Market-
By Technology-
- RNA Targeted Therapeutics
- Gene Therapies
- Epigenetic and microRNA Modulating Therapies
- Genome Editing Therapies
- Others
By Application-
- Autoimmune Disorders
- Genetic Disorders
- Infectious Diseases
- Cancer
- Others
By End-User-
- Hospitals & Clinics
- Academic & Research Institutes
- Others
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- South East Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
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To view the original version on ABNewswire visit: Nucleic Acid Therapeutics Market Investments Study Analysis 2024-2031