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RNA Therapeutics Market Trends

Report ID: GMI8053
Published Date: Feb 2024
Report Format: PDF

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RNA Therapeutics Market Trends

The RNA therapeutic market has experienced a significant boost in recent years, largely attributed to the increasing trend of partnerships and collaborations among market players.
As pharmaceutical and biotechnology companies recognize the potential of RNA-based therapies in addressing various diseases, they are actively engaging in strategic alliances to pool resources, share expertise, and expedite the development and commercialization of RNA therapeutics.
For instance, in February 2023, Moderna, a biotechnology company pioneering messenger RNA (mRNA) therapeutics and vaccines and Life Edit Therapeutics Inc., signed a strategic R&D collaboration to discover and develop in vivo mRNA gene editing therapies.
Such growing collaborations among market players in the RNA therapeutic sector are pivotal in accelerating innovation and advancing the development of transformative treatments, thereby fostering the robust growth of market.

However, the intricate nature of RNA-based drugs, including the need for advanced technologies and specialized expertise, contributes to elevated development costs. Additionally, manufacturing RNA therapeutics involves sophisticated processes and quality control measures, further increasing production expenses.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global RNA therapeutics industry was valued at USD 19.2 billion in 2023 and is estimated to grow at a CAGR of 5.7% during the forecast period to reach USD 31.1 billion by 2032, owing to the rising incidences of infectious diseases.

The vaccines segment held largest market share of 71.7% in 2023, attributed to the ability of RNA vaccines to induce robust and specific immune responses.

In 2023, North America held a significant share of 36% in the global RNA therapeutics industry, favored by robust R&D initiatives, along with strategic collaborations between pharmaceutical companies and research institutions.

Alnylam Pharmaceuticals, Inc., Arrowhead Pharmaceuticals, Inc., BioNTech SE, Ionis Pharmaceuticals, Moderna Inc., Novartis AG, Orna Therapeutics, Inc., Pfizer Inc., Sanofi and Sarepta Therapeutics, Inc.