Leeds, UK -- (SBWIRE) -- 07/11/2019 -- Global RNA based therapeutics and vaccines market to value over USD 800 Million by 2029 end and register a CAGR of over 58.4% from 2019 to 2029.
The market for RNA based therapeutics and vaccines are anticipated to boost due to the extensive research undertaken by the firms. This research is supported and aided by various strong governmental as well as private institutional organisations over a significant period. Various firms have recognised the potential of the untapped market of RNA based therapeutics and started exploring into the sector thus expanding the geographical reach of the market worldwide. Therapeutics for specific targets and rare diseases are highly in demand as the medical industry offer only a limited range of therapeutics and vaccines without alternatives for, especially rare diseases. Many firms are thus constantly innovating and researching new cures and drugs for these rare diseases, through collaborations, in order to gain maximum revenue in this industry. For instance, Regeneron Pharmaceuticals, Inc. and Alnylam Pharmaceuticals, Inc. announced a strategic collaboration for RNAi therapeutics development in order to target the chronic liver disease nonalcoholic steatohepatitis (NASH).
RNA based therapeutics and vaccines are projected to emanate as potential substitutes of traditional symptomatic therapeutics against unforeseen ailments.
Significant firms holding major market share are focusing on RNA molecule development for rare medical conditions. In order to reduce manufacturing costs, companies are outsourcing their raw material. This is highly beneficial given the substantial reduction of raw material costs, simple manufacturing processes, and advanced technology are factors to create an opportunistic space for RNA based therapeutics manufacturers. The firms operating in the market are expected to have ROI due to limited competition in the global market.
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RNA based Therapeutics and Vaccines Market: Segmentation
By Product Type
? RNA-based Therapeutics
> siRNA
>miRNA
? RNA-based Vaccines
> mRNA
By Indication Type
? Oncology
? Immunology
? Ophthalmology
? Cardiovascular Diseases
? Infectious Diseases
? Genetic Diseases
? Others
By Region:
? Europe
? North America
? APAC
? Latin America
? Rest of World
North America holds the major share in the RNA based therapeutics and vaccines market due to the increasing incidence in ailments and ready adoption of technologies. Extensive research is done in order to commercialize the therapeutics while hefty investment undertaken for research and advancement in RNA based technologies coupled with the support provided by the various organisations is helping the market in the region to grow at a steady rate. However, the business dynamics present in the Asia Pacific is expected to provide a lucrative opportunity in the global market of RNA based therapeutics and vaccines owing to the less cost required for clinical research in comparison to North America and Europe.
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Competitive Landscape:
? Tier 1 players- established companies in the market with a major market share
? Tier 2 players
? Emerging players which are growing rapidly
? New Entrants
Significant firms in the market are Sylentis S.A., Moderena Therapeutics, Inc., mirage Therapeutics, Regulus Therapeutics, Inc., and Arbutus Biopharma Corp.
FutureWise Key Takeaways
? Growth prospects
? SWOT analysis
? Key trends
? Key data points affecting market growth
Objectives of the Study:
? To provide an exhaustive analysis on RNA based therapeutics and vaccines market based on product type, indication and region
? To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
? To evaluate and forecast micro-markets and overall market
? To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa
? To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
? Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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