by Antisense oligonucleotides are short sequences of synthetic nucleic acid molecules that bind specifically to target mRNA, interfering with gene expression through mechanisms that inhibit translation or trigger enzymatic degradation of the target mRNA. They are used for therapeutic gene silencing and modulation of gene expression. Antisense oligonucleotides offer advantages over small molecule drugs as they can directly interfere with the causes of diseases related to RNA at the gene level. With growing R&D activities in the healthcare sector focusing on novel treatment approaches, the demand for antisense oligonucleotides is increasing. They hold promise for developing effective therapies for various incurable diseases like cancer, viral infections, neurological disorders. The global Antisense Oligonucleotides Market is estimated to be valued at US$ 2913.5 Mn in 2024 and is expected to exhibit a CAGR of 7.1% over the forecast period 2024-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the antisense oligonucleotides market is the growing pipeline of drugs. There are currently over 100 antisense oligonucleotides in clinical development targeting various therapeutic areas like cardiovascular, metabolic, infectious, neurological and oncology indications. Some key drugs in the pipeline are Vupanorsen by Ionis Pharmaceuticals targeting cardiovascular risk factors, Donidalimabc by Biogen targeting immuno-oncology, and Olezarsen by Ionis Pharmaceuticals targeting non-alcoholic steatohepatitis. The increasing clinical research is expected to lead to the approval and commercialization of novel antisense oligonucleotides in the coming years, thereby driving the market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate. Establishing production facilities and R&D for new antisense oligonucleotides requires high capital investment and expertise which create barriers for new players.
Bargaining power of buyers: The bargaining power of buyers is moderate. Buyers have a wide range of antisense oligonucleotides to choose from different manufacturers. However, switching costs are relatively low.
Bargaining power of suppliers: The bargaining power of suppliers is low to moderate. Suppliers of raw materials have minimal differentiation in their products and other suppliers are available at competitive prices in the market.
Threat of new substitutes: The threat of new substitutes is moderate as new targeted therapeutics and other gene based therapies can potentially replace antisense oligonucleotides.
Competitive rivalry: The competitive rivalry is high owing to increasing generic competition and price wars between major players.
Key Takeaways
The Global Antisense Oligonucleotides Market Demand is expected to witness high growth.
Regional Analysis: North America is expected to dominate the market during the forecast period owing to presence of major players, rising R&D activities, and advanced healthcare infrastructure in the region. The Asia Pacific region is anticipated to grow at the fastest CAGR during the forecast period due to increasing healthcare expenditure, rising geriatric population and growing awareness about genetic disorders.
Key players operating in the Antisense Oligonucleotides market are SICK AG, Hitachi Ltd., Honeywell International Inc., Hyundai Elevator Co. Ltd., Nidec MCE, Toshiba Elevators and Building Systems, Thames Valley Controls, and Mitsubishi Electric. Key players are focusing on new product launches, collaborations and acquisitions to strengthen their market position and expand their geographic presence in the emerging markets. For instance, in October 2019, SICK launched the first 3D LiDAR sensor specialized for use in elevators.
Note:
Source: Coherent Market Insights, Public sources, Desk research
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