DUBLIN, August 29, 2023 (GLOBE NEWSWIRE) – The “RNA Therapy Clinical Trials Market Size, Share and Trends Analysis Report, 2023-2030” report has been added to researchandmarkets.com gift.
The global RNA therapy clinical trials market is on an impressive growth trajectory, estimated to attain a size of US$ 3.5 billion by 2030. This growth is projected at a compound annual growth rate (CAGR) of 3.84% from 2023 to 2030. Several factors, including the growing presence of biotechnology and pharmaceutical companies in emerging countries, the rising burden of infectious and rare diseases, the success of RNA-based COVID-19 vaccines, regulatory support, and increased demand for personalized medicines.
Promising therapeutic approach of RNA therapy drives demand
RNA therapy is emerging as a promising therapeutic opportunity for disease treatment and prevention, leading to an increase in RNA diagnostic trials. Extensive research on different types of RNA, coupled with the potential of RNA to address various human diseases, has fueled the demand for RNA therapy clinical trials. This innovative approach, in which RNA serves as both a drug and a target, is fueling the development of new treatments for rare and challenging-to-treat diseases.
Infectious and rare diseases as main drivers
Infectious and rare diseases stand as significant contributors to global mortality, urging biotechnology and pharmaceutical companies to invent new drugs. This encouragement has led to a boom in RNA-based therapies, increasing the demand for RNA therapy clinical trials. Rare diseases, in particular, remain a major focus area for RNA therapies.
Impact of the COVID-19 pandemic on the market
The COVID-19 pandemic has significantly impacted the RNA therapy clinical trials market. While the pandemic’s focus on vaccine development hindered RNA clinical trials, it also increased researchers’ interest in RNA-based COVID-19 vaccines and their potential against other infectious diseases and oncology indications. This twin effect has driven growth within the market.
Strategies and collaborations shape the market
Industry leaders are actively engaging in partnerships, agreements, collaborations and launches to expand their global reach and product portfolio. Notably, IQVIA Company collaborated with Janssen Research & Development, LLC in March 2021 for Phase 3 COVID-19 vaccine clinical trials. These collaborations facilitate virtual monitoring, telehealth technologies, and digital patient engagement strategies to support both remote and on-site studies.
RNA Therapy Clinical Trail Market Report Highlights
- Driven by advancements in gene expression research and technology, the messenger RNA segment commanded the largest revenue share of 35.7% in 2022.
- The phase II segment to dominate the RNA therapy clinical trials market with a revenue share of 41.3% in 2022, bolstered by the efficacy and safety of RNA therapy.
- Rare diseases will constitute the leading segment in 2022, garnering a revenue share of 21.8%. The increasing burden of various rare diseases and research investments have fueled the growth of this segment.
- North America continues to lead with a revenue share of 36.6% in 2022. Established players, increasing rare disease cases, extensive RNA research and increasing clinical trials contribute to the regional growth.
- Innovation and an increasing number of clinical studies have driven the growth in North America. For example, the partnership between Moderna and Merck is focused on a Phase 2B trial of a personalized mRNA cancer vaccine with KEYTRUDA for melanoma stage III/IV patients.
Key Players Shaping the Market
Major players in the market include IQVIA, Laboratories Corporation of America Holdings, ICON PLC, Charles River Laboratories International, Inc., PPD Inc., Syneos Health, Medpace Holdings, Inc., Novotec, PAREXEL International Corp., and Veristat, LLC. These industry leaders are instrumental in shaping the dynamic landscape of RNA therapy clinical trials.
|number of pages||150|
|Estimated market value in 2022 (USD).||$2.56 billion|
|Estimated Market Value (USD) by 2030.||$3.5 billion|
|compound annual growth rate||3.8%|
Major Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Changes, Trends and Scope
Chapter 4. Methodology Business Analysis
Chapter 5. Clinical Trials Phase Business Analysis
Chapter 6. Therapeutic Sector Business Analysis
Chapter 7. Regional Business Analysis
Chapter 8. Competitive Landscape
- ICON plc
- Laboratory Corporation of America Holdings
- Charles River Laboratories International, Inc.
- PAREXEL INTERNATIONAL CORPORATION
- Sineos Health
- Medpace Holdings, Inc.
- ppd inc.
- Veristat, LLC
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Global RNA Therapy Clinical Trials Market