Global RNA therapy clinical trials market to reach $3.5 billion by 2030
Posted: 21 August 2023 | Catherine Eckford (European Pharmaceutical Review) | No comments yet
Research states that the rising success rate of RNA-based COVID-19 vaccines and demand for personalised medicines is driving the global RNA therapy clinical trials market.
According to a market report, the global RNA therapy clinical trials market is anticipated to reach $3.5 billion by 2030 and grow at a CAGR of 3.84 percent from 2023 to 2030.
The data stated that expansion of the market in emerging countries is due to factors such as the rising success rate of RNA-based COVID-19 vaccines, regulatory approval, as well as demand for personalised medicines. This has therefore led to a rise in the number of RNA clinical trials being conducted.
RNA potential for rare diseases
Rare diseases remain the top targeted therapeutic area by RNA therapies, the report by Research and Markets noted. Worldwide, higher focus on development of new RNA-based drugs for infectious diseases and rare diseases add to greater requirements for RNA therapy clinical trials.
Other growth factors for the RNA therapy clinical trials market
Over the past few years, development of COVID-19 vaccines has particularly impacted the growth of the market, according to the data. This has also resulted in the pharmaceutical industry investigating RNA as a target to treat other infectious diseases and oncology indications. Thus, this has driven growth of the RNA therapy clinical trials market.
The mRNA sector had the biggest revenue share of 35.7 percent in 2022, due to more research being done in the field.
In 2022, Phase II studies led the RNA therapy clinical trials market with a revenue share of 41.3 percent. The report highlighted that the effectiveness of RNA therapy and the safety of RNA clinical trials will drive growth of this sector.
Moderna & Merck announced positive trial results in December 2022 for a personalised mRNA cancer vaccine with KEYTRUDA combination. The Phase IIb KEYNOTE-942/mRNA-4157-P201 trial of mRNA-4157/V940 evaluated the vaccine’s efficacy in melanoma stage III/IV.
The paper stated that key players dominating the market include IQVIA, Charles River Laboratories International, Syneos Health and Novotech.
Related topics
Big Pharma, Biopharmaceuticals, business news, Clinical Development, Drug Development, Drug Markets, Industry Insight, mRNA, Research & Development (R&D), RNA, Therapeutics
Related organisations
Charles River Laboratories International, IQVIA, Merck, Moderna, Research and Markets, Syneos Health
