Dublin, June 28, 2024 (GLOBE NEWSWIRE) -- The "Global Nucleic Acid Therapeutics CDMO Market" report has been added to ResearchAndMarkets.com's offering.
The global nucleic acid therapeutics CDMO market accounted for USD 12.13 billion in 2023 and is expected to reach USD 32.78 billion by 2034 with a CAGR of 9.46% during the forecast period 2024-2034.
The market will expand due to several factors, including rising demand for nucleic acid therapeutics, an increase in the prevalence of genetic and chronic diseases, an increase in FDA approvals of these drugs, a growing pipeline of nucleic acid therapeutics, and an increase in strategic alliances and partnerships.
By type, the RNA-based therapies segment accounted for the highest revenue-grossing segment in the global nucleic acid therapeutics CDMO market in 2023 owing to the rapid adoption of mRNA vaccines and the expanding pipeline of RNA-based therapeutics for various diseases. For instance, the FDA approved the first gene therapy in June 2023 to cure particular Duchenne muscular dystrophy patients. Additionally, the gene therapy segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing research and development activities, advancements in gene editing technologies, and rising demand for personalized medicine solutions.
By service, the manufacturing services segment accounted for the highest revenue-grossing segment in the global nucleic acid therapeutics CDMO market in 2023 owing to the growing demand for specialized manufacturing expertise and outsourcing of production by biopharmaceutical companies. For instance, Mustang Bio. established a partnership with uBriGene (Boston) Biosciences Inc., the uBriGene Group's U.S. affiliate, in May 2023. Additionally, the process development & optimization services segment is estimated to grow at the fastest CAGR during the forecast period owing to the increasing emphasis on streamlining manufacturing processes, enhancing efficiency, and reducing costs in nucleic acid therapeutics production.
By application, the oncology segment accounted for the highest revenue-grossing segment in the global nucleic acid therapeutics CDMO market in 2023 owing to the rising prevalence of cancer worldwide and the development of nucleic acid therapeutics targeting oncology indications. For instance, Exothera and Quantoom Biosciences joined in April 2023 to take advantage of Quantoom's cutting-edge Nfinity technology, a continuous production platform specifically developed for RNA. Additionally, the genetic disorders segment is estimated to grow at the fastest CAGR during the forecast period owing to the increasing focus on precision medicine and advancements in gene therapy approaches for treating genetic disorders.
By end-user, the biotechnology companies segment accounted for the highest revenue-grossing segment in the global nucleic acid therapeutics CDMO market in 2023 owing to the growing outsourcing trends among biotechnology companies to leverage specialized expertise and infrastructure for nucleic acid therapeutics manufacturing. For instance, Wuxi AppTec stated in January 2023 that it would acquire Cellular Research, Inc., a business that specializes in single-cell sequencing technology, to improve its nucleic acid analysis skills. Additionally, the government & academic research institutes segment is estimated to grow at the fastest CAGR during the forecast period owing to the increasing funding for research in nucleic acid therapeutics and collaborations with industry partners for development and commercialization efforts.
North America is anticipated to have the highest revenue share during the forecast period owing to the presence of a robust biopharmaceutical industry, significant investments in R&D, and a supportive regulatory environment for nucleic acid therapeutics. Additionally, Asia-Pacific is predicted to grow at the fastest CAGR during the forecast period owing to the expanding pharmaceutical and biotechnology sectors, increasing investment in healthcare infrastructure, and rising adoption of nucleic acid therapeutics in the region. For instance, Ajinomoto Bio-Pharma Services stated in August 2022 that it was expanding its gene therapy production plant in Belgium to meet the increasing demand for nucleic acid treatments.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Type, Service, Application, and End-user
- Market Forecast for 5 Regions and 17+ Countries
- Exhaustive Company Profiles of the Top 10+ Market Players
Companies Featured
- Lonza Group
- Catalent Inc.
- Thermo Fisher Scientific Inc.
- Aldevron
- AGC Biologics
- Ajinomoto Bio-Pharma Services
- BioNTech SE
- CordenPharma
- Fujifilm Diosynth Biotechnologies
- Wuxi AppTec
- Eurofins Scientific
- Charles River Laboratories
- Kaneka Corporation
- LakePharma Inc.
- Rentschler Biopharma SE
Key Topics Covered
1. Research Methodology
2. Introduction
3. Executive Summary
4. Market Environment Analysis
5. Market Dynamics
6. COVID-19 Impact Analysis
7. Nucleic Acid Therapeutics CDMO Market: Type Estimates & Trend Analysis
8. Nucleic Acid Therapeutics CDMO Market: Service Estimates & Trend Analysis
9. Nucleic Acid Therapeutics CDMO Market: Application Estimates & Trend Analysis
10. Nucleic Acid Therapeutics CDMO Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Nucleic Acid Therapeutics CDMO Market
13. Europe Global Nucleic Acid Therapeutics CDMO Market
14. Asia-Pacific Global Nucleic Acid Therapeutics CDMO Market
15. Latin America Global Nucleic Acid Therapeutics CDMO Market
16. MEA Global Nucleic Acid Therapeutics CDMO Market
17. Competitor Analysis
18. Company Profiles
19. Conclusion
20. Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/md7i70
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