RNA Therapeutics Market Share Set To Grow with Significant 5.6% CAGR By 2028

RNA Therapeutics Market in terms of revenue was estimated to be worth $13.7 billion in 2023 and is poised to reach $18.0 billion by 2028, growing at a CAGR of 5.6% from 2023 to 2028 according to a new report by MarketsandMarkets™. Growth in this market is largely driven by factors such as the increasing number of partnerships and collaborations among market players and RNA technology manufacturers, expanding modalities for RNA therapeutics, and the rising number of emergency use authorizations and approvals for COVID-19 booster vaccines. The emergence of small activating RNAs (saRNAs) and circular RNAs (circRNAs) has expanded the scope of RNA therapeutics. saRNAs are 21-nucleotide long double-stranded RNAs (dsRNAs) complementary to the promoter region of a targeted gene. They can upregulate gene expression, potentially correcting deficiencies associated with genetic disorders and re-activating tumor suppressor genes in multiple types of cancers. On the other hand, the discontinuation/recalls of RNA therapeutic products is expected to hinder market growth.

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Key Market Players Of RNA Therapeutics Industry :

The prominent players in the global RNA therapeutics market include Moderna, Inc. (US), Alnylam Pharmaceuticals, Inc. (US), Pfizer Inc. (US), Novartis AG (Switzerland), Ionis Pharmaceuticals, Inc. (US), Sarepta Therapeutics, Inc. (US), 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).

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RNA Therapeutics Market Dynamics:

Drivers:
1. Increasing partnerships and collaborations among market players and RNA technology manufacturers

Restraints:
1. Discontinuation or recalls of RNA therapeutic products

Opportunities:
1. Higher progress in the development of RNA aptamer-based therapeutics

Challenge:

1. Rapid degradation by ubiquitous RNases in environment and tissues with strong immunogenicity of exogenous RNA
This research report categorizes the RNA therapeutics market to forecast revenue and analyze trends in each of the following submarkets:

By Product
• Vaccines
• Drugs

By Type
• mRNA Therapeutics
• RNA Interference (RNAi) Therapeutics
• Antisense Oligonucleotide (ASO) Therapeutics
• Other Therapeutics

By Indication
• Infectious Diseases
• Rare Genetic Diseases/Hereditary Diseases
• Other Indications

By End User
• Hospitals and Clinics
• Research Settings

By Region
• North America
• Europe
• Asia Pacific
• South Korea
• Rest of the World

Recent Developments of RNA Therapeutics Industry

• 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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