Press release
RNA Therapeutics Market: A Promising Era of Advanced Healthcare Solutions
RNA Therapeutics Market
The RNA therapeutics market is projected to grow from USD 13.7 billion in 2023 to USD 18.0 billion by 2028 at a CAGR of 5.6%.
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RNA therapeutics represent a remarkable breakthrough in medical science, offering highly targeted and precise treatments for a wide range of diseases, including genetic disorders, cancer, infectious diseases, and rare conditions.
These therapies harness the power of RNA molecules to modulate gene expression, offering a promising avenue for personalized medicine and improved patient well-being.
Key highlights of the RNA Therapeutics Market:
Rapid Advancements in Technology: The RNA therapeutics market is witnessing unprecedented growth due to the development of advanced technologies, such as mRNA and siRNA, which enable the precise targeting of disease-causing genes.
Increasing Prevalence of Chronic Diseases: The rising incidence of chronic diseases, including cancer and genetic disorders, is driving the demand for RNA-based therapies that offer more effective and specific treatment options.
Collaborations and Partnerships: Industry collaborations and partnerships between pharmaceutical companies, research institutions, and biotech firms are fostering innovation and accelerating the development of RNA therapeutics.
Regulatory Approvals: Regulatory agencies worldwide are recognizing the potential of RNA therapeutics and expediting the approval process for these groundbreaking treatments, ensuring faster access for patients.
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Key Market Players
The global RNA therapeutics market is a consolidated market, with Moderna, Inc. (US), Alnylam Pharmaceuticals, Inc. (US), and Pfizer Inc. (US) together accounting for the majority share of the global market. Novartis AG (Switzerland), Ionis Pharmaceuticals, Inc. (US), Sarepta Therapeutics, Inc. (US), and Sanofi (France), Arrowhead Pharmaceuticals, Inc. (US), BioNTech SE (Germany), Orna Therapeutics (US), CRISPR Therapeutics (Switzerland), Silence Therapeutics (UK), Astellas Pharma Inc. (Japan), CureVac SE (Germany), Sirnaomics (US), Arcturus Therapeutics Inc. (US) and Arbutus Biopharma (US).
Moderna, Inc. (US) Moderna, Inc. is one of the leading players in the RNA therapeutics market that has gained a prominent position in the vaccine space. The company's COVID-19 booster vaccine-Spikevax-is well received globally and has shown considerable growth in sales after its approval
Alnylam Pharmaceuticals, Inc. (US) Alnylam Pharmaceuticals offers three established RNAi therapies, namely, ONPATTRO (patisiran), GIVLAARI (givosiran), and OXLUMO (lumasiran)-all these therapies have shown consistent growth in sales from 2019 to 2022, thereby, contributing to Alnylam's market position.
Novartis AG (Switzerland) Novartis presently offers only one product in the RNA therapeutics market named Leqvio (inclisiran), which is the only small-interfering RNA that is commercialized for cholesterol reduction. The company has developed this product through its collaboration with Alnylam Pharmaceuticals, Inc., offering the company a competitive edge in the market.
Recent Developments:
• In February 2023, Moderna, Inc. received authorization from Health Canada for its COVID-19 booster vaccine, mRNA-1273.214 (SpikevaxBivalent Original/Omicron). This vaccine is designed for immunization against COVID-19 in children and adolescents between 6 to 17 years.
• In January 2023, the US FDA granted Breakthrough Therapy Designation for Moderna's investigational mRNA vaccine candidate-mRNA-1345. This vaccine was developed to prevent RSV-associated lower respiratory tract disease (RSV-LRTD) in adults aged 60 years or older.
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