Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Thanks 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, according to research, the global RNA-Based Therapeutics market is projected to reach USD 992 million by 2020.
Base on type, the oncology segment is emerging as the leading target indication which accounts for 32% of market share, and RNA interference (RNAi) and RNA antisense technologies appear to be dominating the market. RNAi is a gene silencing technology in which RNA molecules inhibit gene expression by targeting and destroying specific mRNA molecules.
Geographically, the North America is dominating the market across the world, which is expected to grow at highest CAGR of 20.9% for the forecast period, due to 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.
Region followed by Europe, Europe is experiencing a significant growth for next five years, due to their well established medical insurance, the RNA-Based Therapeutics have a wide adoption by patience; the Asia Pacific is considered as most promising market as their largest population and positive economy, according the report, the Asia Pacific is expected be the largest market globally by 2030.
The global leading companies in this market 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.