July 20, 2024
Antisense Oligonucleotides Market

The Development Of Novel Delivery Mechanisms Is Anticipated To Openup The New Avanue For Antisense Oligonucleotides Market

Market Overview:

Antisense oligonucleotides are short single-stranded DNA or RNA molecules that bind to a target mRNA through the RNA-DNA hybridization process. This binds complementarily to the target mRNA, modulating its function through steric blocking of translation, exon skipping, or RNA cleavage. These molecules are in development for treating various diseases such as neurological disorders, oncology, infectious diseases and genetic disorders. They have potential applications in conditions with no approved therapies.

Market Dynamics:

Antisense oligonucleotides market is primarily driven by increasing R&D investments by key players for developing novel therapeutics. For instance, according to Biotechnology Innovation Organization (BIO), the biotechnology industry invested over US$ 93 billion in 2021 for R&D activities, representing over 20% of total R&D spending in the U.S. Furthermore, increasing prevalence of genetic disorders and chronic diseases in developing countries is also propelling the market growth. As per CDC, around 670,000 Americans are affected by neurological genetic disorders. However, high development cost of therapeutics is expected to hinder the market growth over the forecast period.

Segment Analysis

The global antisense oligonucleotides market is dominated by the oncology segment. Antisense oligonucleotides are increasingly used in cancer therapy as they help in downregulation of gene expression involved in cancer progression. Majority of antisense oligonucleotides drugs in clinical trials or approved are for various types of cancer like breast cancer, leukemia, lymphoma etc. The oncology segment accounted for over 35% of the global antisense oligonucleotides market share in 2023 due to high incidence of cancer worldwide and need for improved treatment options.

The global Antisense Oligonucleotides Market Share is estimated to be valued at US$ 2,913.5 Mn in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

PEST Analysis

Political: The market is favorably impacted by various governmental initiatives and funding for R&D in biotechnology and novel drug delivery systems.
Economic: The expanding biopharmaceutical industry and rising healthcare expenditure is driving market growth. High cost of drugs development can hamper market growth.
Social: Growing prevalence of genetic disorders and cancers worldwide is increasing the demand for personalized medicines.
Technological: Advancements in oligonucleotide chemistry and design of second generation antisense drugs with improved stability and safety profile is fueling the market growth.

Key Takeaways

The global antisense oligonucleotides market is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing R&D investments by key players and rising demand for target specific therapies. North America is expected to remain the largest and fastest growing regional market during the forecast period owing to presence of major players, high healthcare expenditure and availability of advanced healthcare facilities.

Regional analysis: North America is expected to account for over 40% share of the global antisense oligonucleotides market by 2030 due to presence of prominent players like Ionis Pharmaceuticals, Biogen and increased funding for research activities. Asia Pacific is anticipated to exhibit fastest growth during the forecast period supported by rising healthcare spending, growing incidents of cancer and genetic disorders.

Key players operating in the antisense oligonucleotides market are Antisense Therapeutics, Biogen, Bio-Path Holdings, Ionis Pharmaceuticals, ProQR Therapeutics, Sarepta Therapeutics, Sterna Biologicals and Wave Life Sciences. These players are focused on conducting clinical trials to develop advance antisense drugs and expand their regional presence through collaborations with biopharma companies.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it