Nucleic Acid-based Therapeutics Market to Reach USD 14.25 Billion by 2031 Driven by Surge in Development of Innovative Therapies

The demand for nucleic acid-based therapeutics has soared in recent years due to their effectiveness in developing treatments for various diseases, including COVID-19.

The SNS Insider report forecasts a robust growth trajectory for the nucleic acid-based therapeutics market, with a CAGR of 13.5% anticipated between 2024 and 2031. The Nucleic Acid-based Therapeutics Market was valued at USD 5.36 Billion in 2023.

Growing Demand for Innovative Therapies Fuels Market Growth

The success of nucleic acid-based therapies in combating COVID-19 has significantly boosted market growth.  A study published by MDPI in February 2022 highlighted the promise of these therapies, specifically small interfering RNAs (siRNAs), antisense oligonucleotides (ASOs), and micro RNAs (miRNAs), in suppressing viral gene expression. With over 400 RNA-targeting drug development projects currently underway globally, the focus on RNA therapeutics is propelling market expansion. Furthermore, the rising prevalence of genetic diseases like cystic fibrosis, cancer, and sickle cell anemia is driving the demand for nucleic acid-based therapeutics. These therapies offer the potential to correct abnormal gene expression and treat these diseases at the source.  For instance, according to the Cystic Fibrosis Foundation, over 40,000 people in the United States alone are diagnosed with cystic fibrosis, highlighting the significant market opportunity.

The high prevalence of chronic diseases is attracting substantial investments in nucleic acid-based therapeutics research. Companies are actively raising funds and collaborating to expand their product portfolios in this domain.

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Some of the Key Players Included are:

• Silence Therapeutics plc
• Ionis Pharmaceuticals
• Novartis
• Merck
• Arrowhead Pharmaceuticals
• BioNtech
• Pfizer Inc
• Protagonist Therapeutics, Inc
• Biomedica
• Moderna Inc.
• Alnylam Pharmaceuticals, Inc.
• Other Players

The market’s dynamism is evident in recent developments such as:

• March 2023: Ionis Pharmaceuticals received a positive vote from the FDA’s advisory committee for the potential approval of Tofersen, an antisense oligonucleotide for treating ALS.
• February 2023: Myeloid Therapeutics Inc.partnered with the NSW Government in Australia to establish a state-of-the-art facility dedicated to RNA immunotherapy manufacturing.

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Segment Analysis

The hospitals & clinics segment currently dominates the market, contributing over 50% of the revenue in 2023.

This dominance stems from the expertise, advanced techniques, and comprehensive patient care offered by these institutions, making them the preferred setting for administering nucleic acid-based therapies. Academic and research institutes are also expected to witness increased demand for their services as the market expands.

By Technology:

• RNA-targeted therapeutics
• Gene therapies
• Epigenetic and microRNA modulating therapies
• Genome editing therapies
• Others

By End-user:

• Hospitals & Clinics
• Academic & Research Institutes
• Others

By Application:

• Autoimmune Disorders
• Infectious Diseases
• Genetic Disorders
• Cancer
• Others

Impact of Global Events

The Russia-Ukraine war affected the global market. Disruptions in the supply chain and potential restrictions on raw materials could hinder the production and development of nucleic acid-based therapeutics. Additionally, an economic slowdown may lead to reduced healthcare spending, impacting market growth. However, some companies might benefit from government initiatives to promote domestic production of these therapies.

For instance, in response to potential supply chain disruptions caused by the war, the US government might incentivize domestic manufacturing of key components for nucleic acid-based therapeutics.

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North America is expected to hold a significant market share throughout the forecast period from 2024-2031

The region boasts a well-established research infrastructure that attracts substantial investments in nucleic acid-based therapies. This fosters a continuous stream of innovation and novel therapeutic development. North America faces a rising burden of chronic conditions like cancer and autoimmune disorders. Nucleic acid-based therapies offer a promising approach to address these complex diseases, driving significant demand in the region.

• According to the Autoimmune Association (June 2022), autoimmune diseases affect over 31 million Americans annually. Additionally, a February 2023 article in the Clinical Rheumatology Journal highlights the high burden of systemic autoimmune rheumatic diseases (SARDs) in Canada, affecting a considerable portion of the population.
• The increasing prevalence of cancer further fuels the demand for nucleic acid-based therapeutics. According to Cancer Facts and Figures 2023, nearly 1.9 million new cancer cases are estimated to be diagnosed in the US alone in 2023. Similarly, Canada experiences a significant cancer burden, with nearly 233,900 diagnoses projected by the end of 2022.

Key Takeaways

• The success of nucleic acid-based therapies in combating COVID-19 has propelled market growth.
• Rising investments, increasing prevalence of chronic diseases, and a shift towards innovative biologics are key growth drivers.
• North America’s robust research ecosystem and high disease burden position it as a dominant market leader.
• The Russia-Ukraine war and potential economic slowdown pose challenges but also present opportunities for regional manufacturing.

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