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COVID-19 Drug Development to Propel Growth of Nucleic Acid Therapeutics Market

Date: 8th Oct 2020 | Category: Pharma & Healthcare

The global nucleic acid therapeutics market is expected to record a value of US$7.23 billion in 2024, increasing at a CAGR of 33.3%, for the duration spanning 2020-2024. The factors such as rising incidences of new cancer cases, rising penetration of gene therapy, increasing pharmaceutical R&D spending, rise in prevalence of diabetes, upsurge in healthcare expenditures and rapid advances in nucleic acid technologies for diagnostics would drive the growth of the market. However, the market growth would be challenged by the challenge of delivering nucleic acid therapeutics, development hurdles for RNAi therapeutics and legal regulations. A few notable trends may include, accelerating growth rates of infectious diseases, progress in pharmaceutical and biotech merger & acquisition, growth in government spending on healthcare and development of nucleic acid therapeutics. 

The global nucleic acid therapeutics market holds a very lucrative scope as such class of compounds have emerged in recent years to yield extremely promising candidates for drug therapy to a wide range of diseases. Based on application, nucleic acid therapeutics are widely used for the treatment of mono-genetic disorders and multi-genetic disorders. The high prevalence of various monogenetic diseases is leading to the rising application of various nucleic acid therapeutics, which is likely to help in its market growth in future.

The fastest regional market was Americas due to the presence of major players and the well established R&D infrastructure, which helped in the development of various nucleic acid therapeutics. Further, owing to the sudden outbreak of COVID-19, scientists are evaluating various biomolecules and synthetic inhibitors against COVID-19; where the nucleic acid-based molecules may be considered as potential drug candidates, which is posing as an opportunity for the market growth of the nucleic acid therapeutics globally.

Scope of the report:

The report provides a comprehensive analysis of the global nucleic acid therapeutics market.

The major regional markets (Americas, Europe, Asia-Pacific and Middle East & Africa) have been analyzed. 

The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

The competitive landscape of the market, along with the company profiles of leading players (Alnylam Pharmaceuticals, Arrowhead Pharmaceuticals, Benitec Biopharma, WAVE Life Sciences, Vir Biotechnology and Protagonist Therapeutics) are also presented in detail.

Key Target Audience:

Nucleic Acid and Oligonucleotide Therapeutics Manufacturers

Pharmaceuticals and Biopharmaceutical Firms 

End Users (Hospitals and Research Institutes)

Investment Banks

Healthcare and Medical Consultants 

Government Bodies & Regulating Authorities