Antisense oligonucleotides are synthesized short DNA or RNA strands that bind to messenger RNA (mRNA) and prevent protein synthesis by either degrading the target mRNA or blocking its translation. These oligonucleotides are used to treat rare diseases caused by single-gene mutations such as Duchenne muscular dystrophy and spinal muscular atrophy. The global antisense oligonucleotides market is estimated to be valued at US$ 2913.5 Mn in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The expanding patient pool suffering from rare diseases presents a huge growth opportunity for players in the antisense oligonucleotides market. According to the National Organization for Rare Disorders (NORD), it is estimated that approximately 30 million Americans, or about 1 in 10, have some type of rare disease. However, only around 5% of the over 7,000 known rare diseases have FDA-approved treatment options. Antisense oligonucleotides targeting specific genes causing rare conditions can help address this significant unmet need. Furthermore, the orphan drug designation status provided by regulatory agencies results in incentives like market exclusivity that attract biotech companies to develop treatments for rare diseases using antisense oligonucleotides. Hence, the opportunity to address unmet needs in rare diseases through targeted therapies is poised to drive robust growth in the antisense oligonucleotides market over the forecast period.

Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as substantial R&D investments, production facilities and expertise are required to bring a new oligonucleotide drug to market.However, specialized biotech companies focusing on RNA therapeutics have been successful in entering the market in recent years. Bargaining power of buyers: The bargaining power of buyers is moderate as third party payers such as governments, health insurers play a major role in the reimbursement for oligonucleotide drugs which are prescribed by physicians but paid for by insurers. Bargaining power of suppliers: The bargaining power of suppliers is moderate as major manufacturers rely on specialized service providers for oligonucleotides synthesis and testing. However, there are a large number of suppliers for raw materials and service providers. Threat of new substitutes: The threat of new substitutes is moderate as new oligonucleotide therapies are likely to emerge for specific diseases. However, new therapies would take considerable time and investment for approval and adoption due to clinical testing requirements. Competitive rivalry: The competitive rivalry is high as large number of players focus on RNA-targeted drug development and target diseases with high unmet needs.

SWOT Analysis
Strengths: Extensive R&D capabilities of major players, strong product pipelines, positive clinical data obtained for drugs in late stages. Weaknesses: High costs associated with clinical development, manufacturing, regulatory uncertainties, unfavorable reimbursement policies. Opportunities: Rising oligonucleotide drug approvals, high addressable patient populations, emerging disease indications. Threats: Patent expiries of blockbuster drugs, biosimilar competition, stringent regulatory framework for RNA therapeutics.

Key Takeaways
The Global Antisense Oligonucleotides Market Demand is expected to witness high growth during the forecast period of 2023-2030. The market size for 2024 is projected to reach US$ 2913.5 Mn registering a CAGR of 7.1% during the forecast period.

Regional analysis: North America currently dominates the market owing to presence of majority of key players, favorable reimbursement policies and increasing RNA therapeutics adoption.The Asia Pacific region is expected to witness the fastest growth over the forecast period due to rising healthcare infrastructure, growing research activities and increasing government funding in countries such as China and India.

Key players operating in the antisense oligonucleotides market are SICK AG, Hitachi Ltd., Honeywell International Inc., Hyundai Elevator Co. Ltd., Nidec MCE, Toshiba Elevators and Building Systems, Thames Valley Controls, and Mitsubishi Electric. Key players focus on expanding their product portfolios through acquisitions and collaborations to be future-ready amid strong competition in the market space.

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