Nucleic acid therapeutics market was valued at $4.1 billion in 2021, and is estimated to reach $12.2 billion by 2031, growing at a CAGR of 11.6% from 2022 to 2031. The basic polymers deoxyribonucleic acid (DNA) and ribonucleic acid (RNA) have been extensively studied over the past two decades and are now being considered as stand-alone medicinal agents. Much of the development has resulted from the realization that they perform a wide range of tasks that go beyond simple protein production and genetic information storage. Many of nucleic acid substances have regulatory authorization for usage in humans, and many are currently undergoing clinical trials. Fomivirsen, developed by Ionis Pharmaceuticals in 1998 for the treatment of cytomegalovirus (CMV) retinitis, is the first ASO to be approved for use in humans. The siRNAs are double-stranded molecules with a short length of 21โ23 nucleotides, synthesized chemically and are most stable. The global nucleic acid therapeutics market size is to expand as more R&D activities are conducted in an effort to create an effective treatment. the driving factors which are boosting the market duringย nucleic acid therapeutics market forecastย are expanding government programs and investments for the development of innovative gene therapies. Spreading more consciousness about various chronic illnesses will also contribute to global nucleic acid therapeutics market growth. Theย nucleic acid therapeutics market analysis from 2021 to 2031 to identify the prevailing nucleic acid therapeutics market opportunity.
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Agilent Technologies, Alnylam Pharmaceuticals, Arbutus Biopharma, Arrrowhead, Benitec Biopharma, Caperna, Copernicus, Genzyme Sanofi, Ionis Pharmaceuticals, Merck, Novartis A.G, PYC Therapeuticsย Limited
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The nucleic acid therapeutics industry is expected to grow rapidly due to various new therapies in the approval and developmental stages. Furthermore, nucleic acid therapeutics market trends is also to advance due to the expansion of the pharmaceutical, healthcare industries, biological products developments, and DNA-based therapies. On the other hand, lack of expertise, minimum availability of technologies, and high cost of treatment may restrain the expansion of the global nucleic acid therapeutics market size. Furthermore, the need for nucleic acid therapeutics significantly decreased after the COVID-19 pandemic. The focus of medical professionals, governments, and the general public has moved to containing the virus’s spread as a result of the fatal virus’s quick expansion. It consequently decreased the need for nucleic acid therapies. People visited clinics and hospitals only if they had an emergency, due to which, various other diseases were ignored by the healthcare professionals. As a result, the COVID-19 pandemic caused severe disruptions in the market for diagnosis and treatment of the nucleic acid therapeutics.
Coronavirus Severe acute respiration syndrome (SARS-CoV-2) is an infectious disease caused by the novel coronavirus (COVID-19), which originated in the Wuhan district in China in the late 2019, and since has spread to 212 countries. The virus was initially referred to as โnovel coronavirus 2019โ (2019-nCoV) by the WHO, However, on February 11, 2020, it was given the official name of SARS-CoV-2 by the International Committee on Taxonomy of Viruses. WHO declared COVID-19 as pandemic on March 11, 2020, and by September 1, 2020, over 28.1 million people have been infected globally with over 909,000 deaths. COVID-19 symptoms include fever, cough, and shortness of breath.
Nearly all industries have been impacted by the global public health pandemic, COVID-19. As coronavirus crises sweep the globe and force healthcare organizations to devote the majority of their funds to fight COVID-19, it has also resulted in a significant decline in demand for the nucleic acid therapeutics market share across several sectors, particularly the health and pharmaceutical sectors. The main cause of the interruptions experienced by patients getting treatment for nucleic acid therapeutics in hospitals was the risk of infection. The treatments based on nucleic acid require hospitalization, hence the market growth declined during this period. As a result, the COVID-19 outbreak slowed down the global market growth for treatments of nucleic acid therapeutics, which was expected to have a negative effect on the market’s value in 2020 and beyond.
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- Based on products, the RNA interference [RNAi] and short interfering RNAs [siRNAs] segment dominated the market in 2021.
- Based on application, the monogenetic disorders segment dominated the market in 2021.
- On the basis of end user, the hospitals & clinics segment dominated the market in 2021.
- On the basis of region, North America dominated the market in 2021 and is expected to dominate during the forecast period
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