Nucleic Acid Therapeutics CDMO Market - A Global and Regional Analysis: Focus on Chemical Synthesis Method, Product, Technology, End User, and Region - Analysis and Forecast, 2023-2033
Global Nucleic Acid Therapeutics CDMO Market Industry Overview
The global nucleic acid therapeutics CDMO market was valued at $3.88 billion in 2022 and is expected to reach $14.19 billion by 2033, growing at a CAGR of 12.55% during the forecast period 2023-2033. The market is driven by factors such as the growing demand for nucleic acid therapeutics applications to treat chronic and genetic diseases, manufacturing advancement for producing nucleic acid by CDMO (a contract development and manufacturing organization), increasing FDA(Food and Drug Administration) approvals of nucleic acid therapeutics, and increasing investment for the expansion of CDMO manufacturing units.
Market Lifecycle Stage
The global nucleic acid therapeutics CDMO market is developing. The global nucleic acid therapeutics CDMO market has witnessed several collaborations among the market players. The collaborations are aimed at combining capabilities, expanding the customer base, and marketing, among others.
The opportunity for growth of the global nucleic acid therapeutics CDMO market lies in continued research and development activities for manufacturing innovative nucleic acid therapeutics. Many pharmaceutical companies are expanding their businesses and becoming more outsourcing-oriented.
Impact of COVID-19
The COVID-19 pandemic had a low impact on the nucleic acid therapeutics contract development and manufacturing organization (CDMO) sector. The demand for nucleic acid-based COVID-19 vaccines and therapies has led to an increased demand for CDMO services. Many CDMOs have experienced an uptick in orders for services such as nucleic acid synthesis, formulation, and manufacturing of viral vectors.
The future impact of COVID-19 on the demand and supply across the global nucleic acid therapeutics CDMO market depends on the abilities of stakeholders to withstand unforeseeable scenarios in the future. The intensity of impact due to COVID-19 in the future will depend on the current efforts being made by companies to equip their supply chains with the necessary components and processes to remain responsive.
Market Segmentation:
Segmentation 1: by Product Type
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