The Europe RNA Based Therapeutic Market would witness market growth of 14.9% CAGR during the forecast period (2021-2027).
RNA-based therapies have been investigated as a possible treatment option for difficult-to-treat disorders. The therapies are being developed using promising technologies including RNA interference technology (RNAi) and antisense technology. In addition, with the incorporation of RNAi techniques in personalized medicine and molecular diagnostics, cancer detection and therapy are currently undergoing a change. Small interfering RNAs (siRNA) or microRNAs (miRNA) can also be used for diagnostic purposes.
Because of the growing demand for RNA therapies to tackle unmet medical needs, non-profit organizations have pooled their financial resources to accelerate the development of RNA therapeutics. In addition, the growing desire for personalized medicine to improve clinical outcomes and pharmaceutical safety has supported the expansion of the RNA vaccines market. In the treatment of cancer, personalized therapy is crucial (large patient population).
Because of increased RNA research activities in collaboration with government organizations, the UK RNA-based Therapeutics and Vaccines market holds a significant position in Europe. Additionally, the number of manufacturers of RNA is increasing in Germany, owing to which, Germany holds the second largest share in Europe RNA based therapeutics and vaccines. Moreover, the increasing geriatric population across the region is another reason for the development of RNA-based therapeutics in Europe. According to the data shared by Eurostat, in 2020, more than a fifth of the EU population (20.6 percent) will be 65 or older. Between 2020 and 2100, the proportion of people aged 80 and up in the EU population is expected to increase by two and a half times, from 5.9% to 14.6 percent.
The Germany market dominated the Europe RNA Based Therapeutic Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $693.9 million by 2027. The UK market is poised to grow at a CAGR of 14% during (2021 - 2027). Additionally, The France market would exhibit a CAGR of 15.7% during (2021 - 2027).
Based on Type, the market is segmented into RNA Antisense and RNA Interference (RNAi). Based on Application, the market is segmented into Genetic disorders and Auto immune disorders. Based on End User, the market is segmented into Research Institutes and Hospitals & Clinics. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global RNA Based Therapeutic Market Size will Hit $11.4 Billion by 2027, at a CAGR of 15.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Arbutus Biopharma Corporation, Arrowhead Pharmaceuticals, Inc., Benitec Biopharma, Inc., Alnylam Pharmaceuticals, Inc., Sanofi S.A. (Sanofi Genzyme), Biogen, Inc., Gradalis, Inc., Ionis Pharmaceuticals, Inc., Sarepta Therapeutics, Inc., and Silence Therapeutics Plc.
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