Global Oligonucleotide Therapy Market Segments
The global oligonucleotide therapy market is expected to decline from $0.9 billion in 2019 to $0.88 billion in 2020 at a compound annual growth rate (CAGR) of -2.1%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.25 billion in 2023 at a CAGR of 12.2%. The rise in the number of cancer cases across the globe is likely to contribute to the growth of the oligonucleotide therapy market during the forecast period. However, during the historic period, the oligonucleotide therapy market was restrained by the low number of drug approvals by the FDA.
Oligonucleotide therapy uses synthetic oligonucleotides, which can be artificially produced in labs, to inactivate disease-causing genes. Only goods and services traded between entities or sold to end consumers are included.
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The global oligonucleotide therapy market is further segmented based on type and geography.
By Type: Antisense Oligonucleotide, Aptamer, Other
By Application: Infectious Diseases, Oncology, Neurodegenerative Disorders, Cardiovascular Diseases, Kidney Diseases, Others.
By Geography: The global oligonucleotide therapy market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American oligonucleotide therapy market accounts for the largest share in the global oligonucleotide therapy market.
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Trends In The Oligonucleotide Therapy Market
The developers and providers of the oligonucleotide therapy market are investing in research and development to remodel the design of therapy to reduce its side effects on patients. New and innovative oligonucleotides allow precision medicine approaches and can be designed to selectively target any gene with minimal side effects. It also helps in targeting patient-specific sequences that are causative of rare diseases.
Oligonucleotide Therapy Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides oligonucleotide therapy market overviews, analyzes and forecasts oligonucleotide therapy market size and growth for the global oligonucleotide therapy market, oligonucleotide therapy market share, oligonucleotide therapy market players, oligonucleotide therapy market size, oligonucleotide therapy market segments and geographies, oligonucleotide therapy market trends, oligonucleotide therapy market drivers and oligonucleotide therapy market restraints, oligonucleotide therapy market’s leading competitors’ revenues, profiles and market shares. The oligonucleotide therapy market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.