Major players in the oligonucleotide therapy market are Alnylam Pharmaceuticals Inc. , Biogen Inc. , Dynavax Technologies Corp. , Ionis Pharmaceuticals Inc. , Merck & Co. Inc. , Miragen Therapeutics Inc. , PCI Biotech Holdings ASA, Sarepta Therapeutics Inc.
New York, June 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Oligonucleotide Therapy Global Market Report 2021: COVID 19 Growth And Change to 2030" - https://www.reportlinker.com/p06090627/?utm_source=GNW
, Jazz Pharmaceuticals, and Bausch & Lomb.
The global oligonucleotide therapy market is expected to grow from $0.88 billion in 2020 to $0.98 billion in 2021 at a compound annual growth rate (CAGR) of 11.4%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.62 billion in 2025 at a CAGR of 13%.
The oligonucleotide therapy market consists of sales of oligonucleotide therapy related services by entities (organizations, sole traders and partnerships) that manufacture oligonucleotide therapy products.Oligonucleotide therapy uses synthetic oligonucleotides, which can be artificially produced in labs, to inactivate disease-causing genes.
Only goods and services traded between entities or sold to end consumers are included.
The oligonucleotide therapy market covered in this report is segmented by type into antisense oligonucleotide; aptamer; other and by application into infectious diseases; oncology; neurodegenerative disorders; cardiovascular diseases; kidney diseases; others.
During the historic 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 February 2019, Novartis paid $150 million to Akcea-Ionis for licensing antisense oligonucleotides TQJ230.This deal will help Novartis to set up the test for RNA-targeting drug in phase 3 cardiovascular outcomes trails.
Akcea is a biopharma company specializing in treating patients with cardio-metabolic diseases, whereas, Ionis, a US-based biotechnology company, specializes in discovering and developing RNA-targeted therapeutics.
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. According to the American Cancer Society, there were 1.7 million new cases and 0.6 million cancer deaths in 2019 in the USA. The four most common types of cancer worldwide are lung, prostate, bowel, and female breast cancer, accounting for 43% of all the 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.
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