UAE CT Scanners Market Assessment, By Type [Stationary CT Scanners, Portable CT Scanners], By Technology [High-Slice CT Scanners, Medium-Slice CT Scanners, Low-Slice CT Scanners, Cone-Beam CT Scanners], By Application [Cardiovascular, Orthopedic, Neurolog

UAE CT Scanners Market Assessment, By Type [Stationary CT Scanners, Portable CT Scanners], By Technology [High-Slice CT Scanners, Medium-Slice CT Scanners, Low-Slice CT Scanners, Cone-Beam CT Scanners], By Application [Cardiovascular, Orthopedic, Neurology, Oncology, Others], By End-user [Hospitals, Diagnostic Imaging Centers, Others], By Region, Opportunities and Forecast, 2017-2031F

Saudi Arabia RNA therapeutics market is projected to witness a CAGR of 7.32% during the forecast period 2024-2031, growing from USD 390.45 million in 2023 to USD 686.92 million in 2031. The market’s expansion is bolstered by the growing burden of infectious and chronic diseases, investments towards the enhancement of the healthcare sector, supportive government measures and policies, rising collaborations between the market players and the government of Saudi Arabia, and increasing emphasis towards the biotech industry.

The growing threat of chronic diseases, including cancer, is propelling the requirement for advanced therapeutic solutions and supporting the growth of the Saudi Arabia RNA therapeutics market. According to the estimates of the World Health Organization (WHO), 28,113 new cases of cancer were reported in Saudi Arabia in 2022. Due to the rising burden of such diseases in Saudi Arabia, the government is supporting research activities and international collaborations to ensure the availability of RNA therapeutics to combat the evolving requirements of the country. Theoretically, mRNA technology can also aid in producing proteins that are usually missing in the cases of various diseases such as diabetes, cystic fibrosis, and sickle cell anemia. The mRNA vaccine technology is also being tested for a wide range of infectious agents and diseases, such as cancer, to combat the disease. Cancerous cells end up creating unique pieces of protein that are not available on healthy cells, efforts are being made to ensure the development of a vaccine that produces those unique protein pieces for educating the immune system and attacking cancerous cells. Such developments are expected to provide patients with viable treatment solutions and aid them in managing complex diseases. Due to the growing awareness about such potential applications of RNA therapeutics and rapid investments towards the biotech industry, the market is expected to witness significant growth opportunities in the coming years.

Enhancement of the Biotechnology Sector Supports Market Expansion

The growing emphasis towards the upgradation and expansion of the biotechnology industry by the government of Saudi Arabia is expected to provide lucrative growth opportunities to the market. Increasing emphasis on biotechnology can be attributed to the country’s efforts to support sustainable development, provide new jobs, and boost economic growth. The National Biotechnology Strategy, launched in January 2024, is expected to enhance the country’s biotechnology landscape and make Saudi Arabia a biotech hub in the Middle East and North Africa (MENA) region in the coming years. The strategy focuses on four crucial areas that include plant optimization, genomics, biomanufacturing and localization, and vaccine production.

To avoid the ordeal witnessed by the country in the wake of the COVID-19 pandemic, the government is also increasingly focusing on the distribution, development, and production of vaccines. Furthermore, the country also aims to reduce dependence on imported drugs and ensure the availability of advanced therapeutic solutions for the population. Additionally, the country plans to expand its analytical platforms and national genomic database due to the vital role of genomics in precision medicine. Such measures are expected to provide lucrative growth opportunities to the market and boost the Saudi Arabia RNA therapeutics market demand.

mRNA Technology Transforms Medicine in Saudi Arabia

The guiding principle behind the deployment of mRNA technology has been that if the drug works for one disease, it holds the potential to transform others as well. The success of mRNA was previously witnessed with the rollout of COVID-19 vaccines in Saudi Arabia. Various companies, including Moderna, Inc., are committed to partnering with the government of Saudi Arabia to advance next-generation annual vaccines and meet the evolving requirements of COVID-19 in the coming years. Even though the public health emergency related to the pandemic has ended, the World Health Organization (WHO) recommends a sound public health approach to reduce deaths and hospitalizations. Meanwhile, in order to identify potential mRNA targets that can mitigate and treat various symptoms of infectious and chronic diseases, various market players are actively focusing on working with the government of Saudi Arabia to facilitate clinical development and early drug discovery efforts.

Rising Government Initiatives Support Market Expansion

One of the major factors attributed to the growth of the Saudi Arabia RNA therapeutics market is the rising government initiatives. The government of Saudi Arabia has been striving to strengthen various sectors, including healthcare and biotech, and recognizes its potential to offer diversity to the country's economy. Additionally, the government has shown interest in the renovation of the country’s regulatory frameworks so that the approval process of new therapeutics might be accelerated, and the latest RNA technologies could be adopted as quickly as possible into clinical practice. Furthermore, public health awareness campaigns supported by the government are raising awareness about the potential of RNA therapies to treat chronic diseases, including cancer, genetic disorders, and viral infections, positively influencing the market’s expansion. Along with building local talent, the government of Saudi Arabia has been encouraging international collaborations, attracting foreign investments, and encouraging multinational biotech companies to set up their operational bases in the country. Such efforts are expected to enhance the overall commercialization and development of RNA therapeutics in the country.

Vaccine Segment Holds Major Market Share

The government's growing efforts to propel vaccine development in the country are bolstering the Saudi Arabia RNA therapeutics market. The country is planning for significant investments in late-stage vaccine development technologies to increase self-sufficiency. In order to ensure health security in the MENA region and increase regional exports, the government also plans establish end-to-end vaccine manufacturing facilities. Due to the recent breakthroughs in mRNA technology, the emphasis on developing mRNA vaccines is increasing to combat the threat of different infectious and chronic diseases. The fast production and quick development time also make them ideal for providing protection against variants of existing diseases and novel infections, thus bolstering their demand in Saudi Arabia.

Future Market Scenario (2024-2031F)

As per the Saudi Arabia RNA therapeutics market analysis, the market is poised to witness significant growth in the coming years due to the growing threat of chronic and infectious diseases, rising investments towards the transformation of the healthcare sector, and advancements in the biotech industry. The growth of the market is also supported by various transformative healthcare plans under the country’s Vision 2030, including The Saudi Genome Program, which is expected to bolster advancements in healthcare disease prevention, diagnosis, and therapy. The program also aims to make the country a global hub of collaborations for genomics and genetics and prevalent genetic diseases in the MENA region. With the help of the project, the country plans to construct a pioneering database to enable personalized medicine and capture the genetic blueprint of Saudi Arabian society for revolutionizing healthcare. Such projects and initiatives are expected to provide lucrative growth opportunities to the market and bolster the demand for Saudi Arabia RNA therapeutics in the coming years.

Key Players Landscape and Outlook

The rising investments and collaborations by the key players of the market to bolster the development of production facilities in the country are expected to aid the market’s expansion. In August 2023, National Resilience, Inc. announced a partnership with Lifera to develop a biomanufacturing facility in Riyadh. The proposed facility is expected to handle aspect filling of bacterial and inactivated vaccines and mRNA therapeutics, including large molecules, plasma-derived products, and monoclonal antibodies. The joint venture is also going to focus on parenteral products and sterile injectables to meet the local therapeutic requirements. Such partnerships are expected to provide lucrative growth opportunities for the market in the coming years.