by Antisense oligonucleotides are short synthetic molecules that are used as therapeutic agents for conditions such as cancer, cardiovascular diseases, and neurological disorders. They work by binding to messenger RNA through Watson-Crick base pairing and modulating gene expression. Some key products in this market include Nusinersen by Biogen for spinal muscular atrophy, Inotersen by Ionis Pharmaceuticals/Akcea Therapeutics for hereditary transthyretin amyloidosis, and Volanesorsen by Ionis Pharmaceuticals/Akcea Therapeutics for familial chylomicronemia syndrome. The global antisense oligonucleotides market is estimated to be valued at US$ 2913.5 million in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rapid development of new therapeutics (as highlighted in heading) driven by strong R&D efforts from key players is expected to drive the growth of antisense oligonucleotides market over the forecast period. Large pharmaceutical players such as Biogen, Ionis Pharmaceuticals, and Roche are investing heavily in developing antisense oligonucleotide drugs for various therapeutic areas including neurological disorders, cardiovascular diseases, metabolic diseases, and cancer. For instance, in July 2022, Biogen and Ionis Pharmaceuticals announced phase 3 clinical trial results of donidalorsen, an investigational antisense drug for cardiovascular risk reduction in patients with familial chylomicronemia syndrome. Such ongoing clinical research and product pipeline expansion by leading players are anticipated to boost the revenues in antisense oligonucleotides market during the forecast period. The other driver fueling the market growth is increasing demand for personalized medicine which uses antisense oligonucleotides drugs for targeted gene silencing in various genetic disorders.
Segment Analysis
The antisense oligonucleotides market is segmented based on therapeutic area, technologies and region. Based on therapeutic area, the market is segmented into oncology, cardiovascular diseases (CVDs), neurodegenerative diseases, infectious diseases and others. The oncology segment dominates the market and held over 38% of the market share in 2022. The dominance is attributed to the successful launch and commercialization of approved antisense oligonucleotides drugs for treating various cancer indications.
PEST Analysis
Political: The government support for research and development activities related to rare diseases is driving the market growth. Government initiatives to develop personalized treatment options are favorable for the market.
Economic: Increasing healthcare expenditure, rising per capita income and presence of favorable reimbursement policies are supporting the growth of the antisense oligonucleotides market.
Social: Growing awareness about rare genetic diseases and availability of new treatment options are boosting the adoption of antisense oligonucleotides.
Technological: Advancements in oligonucleotide chemistry and drug delivery mechanisms have enhanced the potency and specificity of antisense oligonucleotides. Continued research on next-generation platforms is further expanding clinical applications.
Key Takeaways
The Global Antisense Oligonucleotides Market Demand is expected to witness high growth.
Regional analysis: The North America region dominated the global market and accounted for over 40% market share in 2022 owing to growing clinical adoption, presence of key market players and availability of favorable reimbursement policies. Europe and Asia Pacific regions are projected to witness fast growth rates during the forecast period owing to increasing research funding, rising incidence of genetic disorders and growing healthcare infrastructure.
Key players operating in the antisense oligonucleotides market are SICK AG, Hitachi Ltd., Honeywell International Inc. Key players are increasingly focusing on strengthening their product portfolios through acquisitions and partnerships. For instance, in 2022, Ionis Pharmaceuticals acquired zanolimumab from Merck to expand its neurological disease pipeline.
Note:
Source: Coherent Market Insights, Public sources, Desk research
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