RNA Based Therapeutics Market Analysis Europe, North America, Asia, Rest of World (ROW) - US, China, Germany, UK, Japan - Size and Forecast 2024-2028

RNA Based Therapeutics Market Size 2024-2028 

The RNA based therapeutics market size is forecast to increase by USD 1.27 billion at a CAGR of 5.54% between 2023 and 2028. The market is experiencing significant growth due to several key drivers. First, the increasing number of clinical studies focusing on messenger ribonucleic acid (mRNA) technology for cancer treatment is fueling market expansion. Additionally, the immunologic characteristics of RNA-based therapeutics, such as their ability to elicit both T-cell and B-cell responses, make them an attractive option for vaccine development against infectious diseases and genetic disorders. Furthermore, pharmacologic frontiers in RNA-based therapeutics are expanding, offering new opportunities for treating rare conditions. However, the high cost of developing RNA-based therapeutics remains a significant challenge for market growth. Despite this, the potential benefits of these innovative treatments continue to draw investment and collaboration from industry players.

What will be the Size of the Market During the Forecast Period?

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RNA-based therapeutics represent a groundbreaking advancement in the healthcare industry, offering innovative solutions for various medical conditions. These therapeutics leverage the intricacies of RNA, a vital biological molecule, to manipulate gene expression, protein production, and immune responses. This market encompasses a wide range of applications, including oncology, infectious diseases, neurodegenerative disorders, and chronic illnesses. The increasing prevalence of chronic illnesses and the growing demand for personalized medicine are primary drivers propelling the RNA-based therapeutics market forward. The ability of RNA-based therapies to target specific genes and proteins, as well as their potential for treating rare conditions, makes them an attractive alternative to conventional treatments.

The regulatory requirements for RNA-based therapeutics are stringent, ensuring their safety and efficacy. These therapies undergo rigorous testing and clinical trials to secure approval from regulatory bodies. The regulatory landscape is continually evolving, with ongoing efforts to streamline the approval process and facilitate the development and commercialization of these innovative treatments. RNA-based therapeutics have a wide range of applications in healthcare, including cancer clinical studies, vaccine development, and gene delivery. In oncology, RNA interference and gene delivery techniques are being explored for their potential to target specific cancer-causing genes. In infectious diseases, RNA-based therapeutics can be used to silence viral genes or enhance immune responses.

Furthermore, for neurodegenerative disorders, RNA-based therapies hold promise in modifying protein expression and addressing the underlying causes of these conditions. Innovations in RNA-Based Therapeutics: Research and academic laboratories, hospitals, and diagnostic laboratories are at the forefront of innovation in RNA-based therapeutics. Small interfering RNAs (siRNAs) and microRNAs are among the most widely studied RNA-based therapeutics, with potential applications in various medical fields. Additionally, advancements in drug delivery systems and molecular diagnostics are enabling the development of more effective and targeted RNA-based therapies. RNA-based therapeutics represent a transformative force in the healthcare industry, offering innovative solutions for a diverse range of medical conditions.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• Type
  • mRNA therapeutics
  • Antisense oligonucleotide (ASO) therapeutics
  • RNA interference (RNAi) therapeutics
  • Others
• Route Of Administration
  • Intravenous (IV)
  • Subcutaneous (SC)
  • Intramuscular (IM)
• Geography
  • Europe
    • Germany
    • UK
  • North America
    • US
  • Asia
    • China
    • Japan
  • Rest of World (ROW)

By Type Insights

The mRNA therapeutics segment is estimated to witness significant growth during the forecast period. MRNA therapeutics represent a groundbreaking method for treating various medical conditions by instructing cells to generate specific proteins. Notable applications include cancer immunotherapies, which encode tumor-related antigens via mRNA, stimulating the immune system to attack and eliminate cancer cells. Moderna Inc. (Moderna) is pioneering mRNA-based therapies for cancer, focusing on personalized cancer drugs/vaccines and additional oncology treatments. Moreover, mRNA therapeutics are being explored for diseases like heart conditions and rare genetic disorders. In gene replacement therapies, mRNA is introduced to generate proteins that are absent or defective due to genetic disorders, providing potential treatments for conditions such as cystic fibrosis and muscular dystrophy.

Furthermore, technological advancements continue to drive innovation in this field, with manufacturing plants being established for large-scale production and vaccine development underway. Biopharmaceutical drugs are increasingly incorporating mRNA technology to address disease targets, further expanding its application scope.

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The mRNA therapeutics segment accounted for USD 1.25 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

Europe is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The European market is witnessing notable expansion due to intensive research and development activities, substantial financial support from governments, and a well-established biopharmaceutical sector. Key contributors to this growth include Germany, the UK, and France. Notably, BioNTech SE, a German company, has spearheaded advancements in RNA technology, most notably with the development of mRNA vaccines during the COVID-19 crisis. This achievement has sparked increased investment in both academic and commercial RNA research across Europe. The European Union is a significant catalyst for the growth of the market, with initiatives like Horizon Europe, the EU's primary funding program for research and innovation, playing a pivotal role.

Furthermore, the EU's commitment to advancing scientific discovery and innovation is fueling the development of novel RNA-based treatments for various indications, including oncology pharmaceuticals, infectious diseases, and neurodegenerative disorders. The regulatory landscape for RNA-based therapeutics is complex, requiring stringent approval processes to ensure safety and efficacy. This market also holds potential for personalized medicine applications, further increasing its significance.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Market Driver

Growing investment and funding in RNA based therapeutics is the key driver of the market. Ribonucleic acid (RNA) based therapeutics are gaining significant attention in the scientific community due to their potential in addressing various chronic conditions. The global market for RNA based therapeutics is experiencing substantial growth, fueled by increasing investments from biopharmaceutical and biotechnological companies, as well as government bodies.

Furthermore, the funding supports the exploration of RNA's untapped potential in areas such as disease prevention in crops and cancer therapies. Molecular diagnostics, particularly in the field of keloids treatment, are another promising application. MicroRNAs, a type of RNA, have shown potential in diagnosing and treating various diseases. As research and academic laboratories continue to uncover new applications for RNA based therapeutics, the market is expected to expand further.

Market Trends

Increasing collaborations and partnerships is the upcoming trend in the market. Advancements in RNA-based therapies are being driven by an increasing number of collaborations and partnerships. These strategic alliances enable the combination of expertise, resources, and technologies to accelerate the development and availability of innovative treatments.

Furthermore, the collaboration focuses on utilizing advanced technologies to advance cancer treatment. These collaborations represent the pharmacologic frontiers of RNA-based therapeutics and their potential impact on clinical studies, particularly in the area of cancer treatment. Immunologic characteristics, such as T-cell and B-cell responses, are a significant focus of these therapeutic approaches, with vaccine types also under exploration. The therapeutic device market for RNA-based therapies is expected to grow substantially as these innovations continue to emerge.

Market Challenge

The high cost of developing RNA based therapeutics is a key challenge affecting the market growth. RNA-based therapies, including RNA vaccines and RNA interference (RNAi) treatments, are making significant strides in the medical field, particularly in the arena of chronic illnesses. Regulating authorities, such as the Food and Drug Administration (FDA), have been closely monitoring the development of these innovative therapies. RNAi treatments inhibit gene expression, offering a potential solution for various genetic disorders and diseases. RNA vaccines, on the other hand, utilize RNA to trigger an immune response, showing great promise in preventing infectious diseases. Medical studies have shown promising results for RNA-based therapies, with RNA vaccines demonstrating high efficacy rates in clinical trials.

For instance, the Pfizer-BioNTech COVID-19 vaccine, based on RNA technology, has been instrumental in controlling the global pandemic. However, the high cost of developing RNA-based therapies poses a significant challenge in the market. Protein and antibody therapeutics, such as recombinant DNA technology-derived antibodies, have been a mainstay in the biopharmaceutical industry.

However, despite their success, RNA-based therapies have yet to reach the same level of market penetration due to their high development costs. In conclusion, RNA-based therapies, including RNA vaccines and RNAi treatments, are revolutionizing the medical field, offering potential solutions for various chronic illnesses and infectious diseases. Regulatory bodies are closely monitoring their development, and medical studies have shown promising results. However, the high cost of developing these therapies remains a significant challenge, hindering their widespread adoption and advancement in the market.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

 Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Alnylam Pharmaceuticals Inc. - The company offers RNA Based Therapeutic such as Givlaari, Oxlumo, Leqvio, and Amvuttra.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Alnylam Pharmaceuticals Inc.
• Arbutus Biopharma Corp.
• Arcturus Therapeutics Holdings Inc.
• Arrowhead Pharmaceuticals Inc.
• Ascidian Therapeutics Inc
• AstraZeneca Plc
• Beam Therapeutics Inc.
• Benitec Biopharma Inc.
• Biogen Inc.
• BioNTech SE
• BioSpace
• Circular Genomics Inc.
• CureVac AG
• Esperovax
• Gennova Biopharmaceuticals Ltd
• Ionis Pharmaceuticals Inc.
• Moderna Inc.
• Novartis AG
• Novo Nordisk AS
• Omega Therapeutics Inc.
• Sarepta Therapeutics Inc.
• Silence Therapeutics plc
• Tevard Biosciences

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

RNA-based therapies have emerged as a promising frontier in pharmacology, offering innovative solutions for various chronic conditions and complex diseases. These therapies, which include RNA interference (RNAi), RNA vaccines, and antisense technology, have shown significant potential in treating oncology, infectious diseases, neurodegenerative disorders, and rare conditions. RNAi technology, for instance, works by silencing specific genes, making it an attractive option for targeted therapy against cancer and genetic disorders. Regulatory requirements and molecular diagnostics play crucial roles in the development of RNA-based therapies. Biopharmaceutical and biotechnological companies, hospitals and diagnostic laboratories, research & academic laboratories, and government bodies are actively investing in RNA therapeutics classes, such as therapeutic ribozymes, small interfering RNAs (siRNAs), aptamers, and RNA vaccines.

Furthermore, advances in HTS, gene delivery, and manufacturing processes have facilitated the production of these therapies. RNA-based treatments for chronic diseases like heart disease, pulmonary diseases, and HIV have shown promising results in clinical studies, with some even demonstrating t-cell and b-cell responses. The innovative products in this field are expected to significantly impact healthcare spending by addressing the chronic disease burden. Technological advances continue to shape the RNA therapeutics landscape, with smart technology and enabling/enabled technologies playing a key role in vaccine development and personalized medicine applications. Public-private investments and collaborations are also driving the growth of this market. RNA-based therapies offer a unique approach to treating various diseases by manipulating protein expression and gene function. The immunologic characteristics of these therapies make them an attractive option for vaccine development and targeted therapy. With ongoing research and clinical studies, the potential applications of RNA-based therapies continue to expand, offering hope for patients suffering from a wide range of conditions.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market  and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across Europe, North America, Asia, and Rest of World (ROW)
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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