Market Overview:
Antisense oligonucleotides are short sequences of synthetic nucleotides that bind to target messenger RNA (mRNA) and stop their translation into protein. They are being developed to treat a wide range of genetic disorders including cancer, infectious diseases, cardiovascular diseases, and neurological diseases. Antisense oligonucleotides offer advantages such as high specificity, safety, and stability to combat several disease conditions.
Market key trends:
One of the major trends driving growth of the antisense oligonucleotides market is rising focus on development of personalized medicines. Personalized medicines utilize a person's specific genetic makeup and life experiences to develop customized diagnostics and treatments for diseases. Due to high unmet medical needs of several genetic disorders and rising cases of rare diseases, focus on development of personalized medicines is increasing globally. Antisense oligonucleotides offer potential to develop personalized medicines by customizing treatment options based on individual patient's genetic profile. Development of antisense oligonucleotides as personalized medicine is expected to augment the market growth over the forecast period.
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.
Porter’s Analysis
Threat of new entrants: The high capital requirement and need for extensive R&D act as entry barriers for new players. Existing players have established distribution networks and economies of scale which also pose threat to new entrants.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of alternative treatments. However, high treatment costs increase buyer's bargaining power.
Bargaining power of suppliers: Suppliers of raw material and manufacturing equipment have low to moderate bargaining power as there are many suppliers in the market.
Threat of new substitutes: Threat from new substitutes is moderate as alternatives like RNA therapeutics and gene therapies are emerging gradually.
Competitive rivalry: Intense due to presence of major players and high R&D investments driving innovation.
SWOT Analysis
Strength: High potential to treat various genetic disorders. Increasing investment in R&D and clinical trials.
Weakness: High investment required and long drug development process. Challenges in delivery and ensuring targeted delivery.
Opportunity: Increasing prevalence of genetic diseases. Large untapped market potential in emerging economies. Collaborations present opportunity for market expansion.
Threats: Slow regulatory approvals and high scrutiny by regulatory agencies. Patent cliff expiry of blockbuster drugs.
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 prevalence of genetic disorders and launch of novel drugs. North America currently dominates the market due to presence of major players and high healthcare spending. Europe is the second largest market attributed to government support and availability of funding for research. Asia Pacific is expected to be the fastest growing region owing to growing patient population, increasing healthcare expenditures and raising awareness.
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. The market is witnessing intense competition with major players focusing on R&D to develop innovative products and expanding to emerging economies. Increasing prevalence of genetic disorders worldwide presents lucrative growth opportunities for players in the coming years.
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