A new report by Allied Market Research, titled "RNA Therapeutics Market (technology, applications, end user and geography) - Industry Analysis and Forecast, 2013 - 2020", suggests that the RNA Based Therapeutics Market would reach $1.2 billion by 2020 registering a CAGR of 28.4% during 2014 - 2020. Due to its ability to render targeted solutions for chronic diseases such as cancer, AIDS, rare genetic disorders, and certain cardiovascular conditions, RNA based therapeutics is expected to significantly impact the global pharmaceutical industry.
The large scale funding from public and private sector, growing interest of pharmaceuticals and biotech giants for developing novel delivery technology, and anticipated saving in healthcare expenditure are propelling the growth of RNA therapeutics market. Moreover, the platform technologies such as RNAi and antisense have enabled researchers to accelerate their research activities by defining gene sequences for chronic diseases. Companies have widened the research focus on RNA based drug as well, which has fueled the growth of the overall RNA therapeutics market.
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Pharmaceutical companies have identified the RNA therapeutics for variety of chronic diseases and are also exploring the potential of RNA technology for diagnostic purposes. The RNA based therapeutics market, in the near future is likely to witness a substantial level of momentum due to government funding and programs aimed at commercialization of these drugs. The government of United States, through its National Institute of Health (NIH), provides funds for RNA therapeutics research, thus assist in propelling the growth of this market. To boost the research activities the U.S. FDA is providing fast track designation to the RNA products, which are in the pipeline.
The study suggests that the enabled technologies such as RNA interference technology (RNAi) and RNA antisense technology will dominate the market with RNAi technology getting interest from most of the participants. The development pipeline suggests that oncology segment will emerge as the largest application segment. This is largely due to the high prevalence of such diseases and limited efficiency of available therapeutics in treating such diseases. Research and therapeutics are the two major end-use segments for RNA therapeutics market. North America currently commands the lion's share of the market as most of the research and development activity is concentrated in this region. However, Asia Pacific and other emerging regions will gradually catch-up over the forecast period.
The Key companies in this space are Alnylam Pharmaceuticals, Inc., Benitec Biopharma Limited, Cenix BioScience GmbH, Dicerna Pharmaceuticals, Inc., Genzyme Corporation, ISIS pharmaceuticals Inc., Quark Pharmaceuticals, Inc., Silence Therapeutics PLC, and Tekmira Pharmaceuticals Corp. These organizations have raised funds from private and public sectors to bear the high cost of RNA therapeutics research. Though the clinical results behind RNA based therapeutics are compelling, the Pharma and biotech companies are still working to identify opportunistic areas to grow. It is most likely that the RNA therapeutic companies would successfully tackle the drug delivery issue, which is the major hurdle in commercialization of this therapeutics and at the same time would reap benefits.
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SOURCE Allied Market Research