New York, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oligonucleotide Therapy Global Market Report 2023" - https://www.reportlinker.com/p06241895/?utm_source=GNW
, Jazz Pharmaceuticals and Bausch & Lomb.
The global oligonucleotide therapy market is expected to grow from $0.98 billion in 2021 to $1.10 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The oligonucleotide therapy market is expected to reach $1.86 billion in 2026 at a CAGR of 14.0%.
The oligonucleotide therapy market consists of sales of ASOs, siRNAs, miRNAs, and DNAzymes.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Oligonucleotide therapy refers to a collective term for cutting-edge molecular-targeting agents that use chemically produced oligonucleotides with single-stranded DNA (DNA) or RNA (RNA) backbones that have the potential for selectivity. Oligonucleotides are made to base-pair with a strand of DNA or RNA for the majority of applications. PCR primers are oligonucleotides’ most popular application (polymerase chain reaction)
The main types of oligonucleotide therapy are antisense oligonucleotide, aptamer, and others.Synthetic DNA oligomers called antisense oligonucleotides (AS ONs) hybridize to a target RNA in a sequence-specific method.
They’ve been used to successfully limit gene expression, modify precursor messenger RNA splicing, and inactivate microRNAs. It is used in infectious diseases, oncology, neurodegenerative disorders, cardiovascular diseases, kidney diseases, and others and is implemented in hospitals, and research institutes.
The rise in the number of cancer cases across the globe is likely to contribute to the growth of the oligonucleotide therapy market during the forecast period.For instance, in January 2022, according to the American Cancer Society, there will likely be 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, or roughly 1,670 fatalities every day. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43 percent of all new cancer cases.The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all new cancer cases. Therefore, the rise in cancer incidence rate globally is anticipated to boost the demand for the oligonucleotide therapy market over the forthcoming years.
During the forecast period, the oligonucleotide therapy market was restrained by the low number of drug approvals by the FDA.As of January 2020, the market only had 11 drugs approved for treatment, thus restraining the growth of the market.
This can be attributed to the strict standards for manufacturing and high drug efficacy standards set by the regulatory bodies for approval of this therapy, thus increasing the time required for approval and limiting the growth of the market.
The developers and providers of the oligonucleotide therapy market are investing in research and development to remodel the design of therapy to reduce its side effects on patients.The new and innovative oligonucleotides allow precision medicine approaches and can be designed to selectively target any gene with minimal side effects.
It also helps in targeting patient-specific sequences that are causative of rare diseases. In August 2020, FDA granted accelerated approval to Viltepso (viltolarsen) injection, an antisense oligonucleotide for the treatment of Duchenne muscular dystrophy (DMD), which is a genetic disorder, with reduced side effects.
In August 2020, Evotec SE, a Germany based pharmaceutical drug discovery and development company, announced a strategic partnership with Secarna Pharmaceuticals GmbH & Co.KG, a Germany-based antisense oligonucleotide company specializing in addressing significant unmet medical needs in immunology and immuno-oncology.
Through this partnership, the multimodality platform of Evotec is further enhanced by this strategic cooperation with Secarna. In areas with a high unmet medical need, Evotec works to identify the best possible approaches to developing disease-modifying medications, whereas Secarna is a top supplier of tested ASO technology with a special platform to enable the identification and selection of ASOs in their early stages.
The regions covered in the oligonucleotide therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The countries covered in the oligonucleotide therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The oligonucleotide market research report is one of a series of new reports that provides oligonucleotide market statistics, including oligonucleotide industry global market size, regional shares, competitors with an oligonucleotide market share, detailed oligonucleotide market segments, market trends and opportunities, and any further data you may need to thrive in the oligonucleotide industry. This oligonucleotide market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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