Oligonucleotide Therapy Global Market Report 2024

The oligonucleotide therapy market size has grown rapidly in recent years. It will grow from $4.9 billion in 2023 to $5.61 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The expansion in the historical period can be attributed to increased investments in research and development, the introduction of early therapies to the market, advancements in gene editing techniques, initial therapeutic discoveries, and the introduction of RNAi and antisense oligonucleotides.

The oligonucleotide therapy market size is expected to see rapid growth in the next few years. It will grow to $8.75 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The expansion in the forecast period can be attributed to increased investments in research and development, global market penetration, the expansion of therapeutic areas, strategies for disease modification, and regulatory adaptations. Major trends in the forecast period include personalized therapies, advancements in delivery systems, innovations in RNA interference (RNAi), advancements in antisense oligonucleotides, and the integration of gene editing techniques.

The increase in cancer cases globally is expected to contribute to the oligonucleotide therapy market's growth during the forecast period. For example, as of January 2022, the American Cancer Society projected approximately 1.9 million new cancer diagnoses and 609,360 cancer-related deaths in the US, averaging around 1,670 fatalities daily. The most prevalent cancer types globally - lung, prostate, bowel, and female breast cancer - constitute 43% of all new cancer cases. Consequently, the surge in global cancer incidence rates is poised to drive the oligonucleotide therapy market's demand in the coming years.

Government initiatives aimed at research and development in healthcare are anticipated to boost the oligonucleotide therapy market's growth. These initiatives involve specific actions, programs, policies, or projects undertaken by government authorities at various levels (local, regional, national, or international) to address specific issues, achieve defined goals, or instigate positive changes in society. Various government bodies are launching healthcare initiatives to support different aspects, including oligonucleotide therapy. In 2022, the UK government, as per the Department of Health and Social Care, committed £260 million (US $270.65 million) in funding to enhance healthcare research and manufacturing. This funding, provided by BEIS and DHSC, aimed to support NHS-led health research in diagnostics and treatment through new privacy-preserving platforms and clinical research services. Additionally, £60 million (US $63.60 million) was allocated to assist in expanding life sciences manufacturing in the UK.

The oligonucleotide therapy market faced challenges during the forecast period due to the FDA's limited number of drug approvals. In 2022, the National Library of Medicine reported that only 37 new drug entities were approved, marking the lowest number since 2016. This can be attributed to stringent manufacturing standards and high efficacy criteria set by regulatory bodies for therapy approval, leading to prolonged approval timelines and restricting market growth.

Developers and providers in the oligonucleotide therapy market are investing in research and development to redesign therapy approaches. Innovative oligonucleotides enable precision medicine, selectively targeting genes with minimal side effects, and addressing patient-specific sequences causing rare diseases. In April 2023, the FDA approved Qalsody, an antisense oligonucleotide (ASO), for treating ALS associated with the SOD1 gene mutation. Qalsody targets SOD1 mRNA to reduce protein synthesis.

Major companies in the oligonucleotide therapy market are introducing pediatric-focused therapies to drive market revenues. Elevidys, the first FDA-approved gene therapy for Duchenne muscular dystrophy (DMD) in pediatric patients aged 4 through 5, showcases advancements in gene-based treatments for genetic diseases, although not specifically an oligonucleotide therapy.

In September 2022, Vanda Pharmaceuticals, a US-based biopharmaceutical company, and OliPass, a South Korea-based biotechnology company, announced a strategic partnership to develop antisense oligonucleotide (ASO) therapeutics. This collaboration aims to jointly develop a series of ASO molecules based on OliPass' proprietary modified peptide nucleic acids, leveraging the strengths of both companies to advance ASO-based precision medicine therapeutics.

Major companies operating in the oligonucleotide therapy market report are Pfizer Inc., Merck & Co. Inc., GlaxoSmithKline PLC, Gelead Sciences Inc., BioNTech SE, Moderna Inc., Biogen Inc., Bausch + Lomb Company, Jazz Pharmaceuticals PLC, QIAGEN Company, Alnylam Pharmaceuticals Inc., Sarepta Therapeutics Inc., Dynavax Technologies Corp., Ionis Pharmaceuticals Inc., Akcea Therapeutics Inc., Arrowhead Pharmaceuticals Inc., Dicerna Pharmaceuticals lnc., SomaGenics Inc., Wave Life Sciences Ltd., Exicure Inc., Hepion Phrmaceuticals lnc., Avidity Biosciences lnc., Miragen Therapeuutics Inc., ProQR Therapeutics NV, Regulus Therapeutics Inc., PCI Biotech Holdings ASA, Kastle Therapeutics LLC, Santaris Pharma A/S, InteRNA Technologies B.V., Dynacure S.A., Arcturus Therapeutics Holdings Inc., Intellia Therapeutics Inc., Regeneron Pharmaceuticals Inc., Editas Medicine Inc., Evox Therapeutics Ltd., ONK Therapeutics Ltd., PepGen Ltd. North America was the largest region in the oligonucleotide therapy market in 2023. The regions covered in the oligonucleotide therapy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The primary categories of oligonucleotide therapy include antisense oligonucleotides, aptamers, and others. Antisense oligonucleotides (AS ONs) are artificial DNA oligomers designed to hybridize with a specific target RNA sequence. They have proven effective in limiting gene expression, modifying precursor messenger RNA splicing, and deactivating microRNAs. This therapeutic approach finds applications in infectious diseases, oncology, neurodegenerative disorders, cardiovascular diseases, kidney diseases, among others, and is applied in healthcare facilities and research institutes.

The oligonucleotide therapy market research report is one of a series of new reports that provides oligonucleotide therapy market statistics, including oligonucleotide industry global market size, regional shares, competitors with an oligonucleotide market share, detailed oligonucleotide therapy market segments, market trends, and opportunities, and any further data you may need to thrive in the oligonucleotide industry. This oligonucleotide therapy 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.

The countries covered in the oligonucleotide therapy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

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.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.