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RNA Based Therapeutics Market 2023 - 2030 an overview, benefits and prospectus with growing at a CAGR of 17.6% - Says Allied Market Research
According to the report, the global RNA based therapeutics industry was estimated at $4.93 billion in 2021, and is anticipated to hit $25.12 billion by 2030.
CAGR: 17.6%
Current Market Size: USD 4.93 Billion
Forecast Growing Region: APAC
Largest Market: North America
Projection Time: 2021- 2030
Base Year: 2020
Report Key Pointer: COVID-19 Outbreak & Impact
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What are the benefits of RNA therapeutics?
However, RNA-based treatments may have therapeutic potential for diseases, such as diabetes, cancer, and Huntington's disease [2,10,11,12,13]. RNA therapies may provide better treatment options to target the pathophysiological mechanisms of these disorders, which may lead to better outcomes for patients.
Ascend in drives from government for enormous scope sequencing projects drives the development of the worldwide RNA based therapeutics market. Then again, obstacles in drug conveyance, significant expense of exploration, and dangers of disappointment control the development somewhat. In any case, early commercialization of pipeline therapeutics is supposed to set out worthwhile open doors in the business.
Impact of COVID-19 on RNA Based Therapeutics Market-
Also, mRNA vaccines could potentially offer long-term solutions all over the world for diseases ranging from influenza to AIDS, but owing to lockdown measures and temporary closure of research institutes and academic research, the demand for RNA based therapeutic solutions decreased significantly.
This trend is quite likely to continue till the pandemic is completely over.
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Key players in the industry-
Silence Therapeutics plc.
Arbutus Biopharma Corporation
Ionis Pharmaceuticals
Sarepta Therapeutics
Alnylam Pharmaceuticals, Inc.
Benitec Biopharma Inc.
Genzyme (Sanofi), Arrowhead Pharmaceuticals
Biogen, Inc.
Gradalis, Inc.
By Regional Analysis:
By region, the market across North America dominated in 2020, garnering more than two-fifths the global RNA based therapeutics market. High expenditure on R&D, presence of major players & their product availability, and well-established healthcare infrastructure in the region propel the market growth. Simultaneously, the Asia-Pacific region is also expected to cite the fastest CAGR of 18.9% throughout the forecast period. This is attributed to improvements in R&D facilities, available disposable income, and rapidly developing economic conditions.
North America (U.S., Canada, Mexico)
Europe (Germany, France, United Kingdom, Rest of Europe)
Asia-Pacific (Japan, China, Australia, India, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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