In-vitro Transcription Templates Market Size to Observe Steady Growth by 2020-2030

In-Vitro Transcription Templates Market: Introduction

According to the report, the global in-vitro transcription templates market was valued at ~US$ 120 Mn in 2020 and is projected to expand at a CAGR of ~20% from 2021 to 2030. Increase in R&D funding in healthcare and biotechnology and rise in technological advancements in molecular biology are anticipated to drive the global in-vitro transcription templates market during the forecast period. Additionally, rise in prevalence of various types of cancer and infectious diseases, such as COVID-19, is expected to propel the global in-vitro transcription templates market over the next few years.

Investments by key players to strengthen their position is likely to create significant opportunities in the market. For instance, in June 2020, Promega Corporation announced CE marking for the OncoMate MSI Dx Analysis System as a new in-vitro diagnostic (IVD) medical device in Europe. OncoMate MSI is a PCR-based, validated gold standard for determining microsatellite instability (MSI) status in solid tumors.

The usage of mRNA-based personalized cancer vaccines for the treatment of cancer has increased. For instance, Moderna's Immuno-Oncology focuses on therapeutic vaccines and intratumoral immuno-oncology therapeutics. Moderna is able to make modified, mRNA-based personalized cancer vaccines to distribute one custom-tailored medicine for one patient at a time, which is concluded through next-generation sequencing and able to recognize mutations found on a patient's cancer cells. Hence, increase in incidence of cancer boosts usage of in-vitro transcription templates in RNA-derived vaccines and therapeutics.

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North America dominated the global in-vitro transcription templates market in 2020. The trend is likely to continue during the forecast period. Well-established healthcare and life science industries, early adoption of technologically advanced products, high awareness about various infectious as well as chronic diseases, and high per capita healthcare expenditure are the major factors attributed to North America's large market share in 2020.

Asia Pacific is projected to be a highly lucrative market for in-vitro transcription templates over the next few years. The market in the region is anticipated to expand at a high CAGR during the forecast period. The growth of the healthcare sector and the increase in the development of RNA-based vaccines and therapies in countries such as Japan, India, and China are expected to propel the market in the region during the forecast period.

Technological Advancements to Drive In-Vitro Transcription Templates Market

The adoption of technologically advanced products is likely to drive the demand, and thereby the global market. Technological advances and modalities for targeting RNA include using CRISPR-Cas9 genome editing technology, DNA-directed RNA intervention (ddRNAi) technology, and the advancement of specific low molecular modulators for RNA or RNA-modifying enzymes. For instance, CAL-1, Calimmune's leading therapeutic agent, depicts RNA-based gene therapy using ddRNAi to suppress the CCR5 gene to regulate HIV infection and to prevent HIV-positive entities from developing AIDS. Several firms focused on the production of small-molecular RNA modulators have been set up over the past few years.

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Targeting splice-variant control sequences within introns (non-coding regions of an RNA transcriptor DNA sequence within a gene) or exons (coding regions) offers opportunities to develop therapeutics. For instance, Skyhawk Therapeutics, Inc. (Waltham, Massachusetts, the U.S.) was founded with a platform to identify selective small molecule modulators of the RNA spliceosome complex that target RNA mis-splicing (exon skipping), which drives multiple diseases including neurological conditions and cancer. These emerging technologies offer significant opportunities to develop alternative strategies to target RNA for drug development.

N4 Pharma is developing Nuvec, an innovative silica nanoparticle for drug delivery with possible applications across cancer therapy and immunology. That includes enhancing the cellular uptake of novel and disruptive medicines such as mRNA and DNA vaccines or therapies.

Infectious Diseases to Dominate In-Vitro Transcription Templates Market

In terms of disease, the global in-vitro transcription templates market has been classified into cancer, infectious diseases, lifestyle diseases, genetic diseases, and others. The infectious disease segment accounted for major share of the global market in 2020. The segment is projected to dominate the global market during the forecast period. mRNA vaccine has been studied for various diseases including CMV, Zika, and rabies. Development and launch of RNA-based vaccines are anticipated to propel the segment during the forecast period.

Vaccine to Hold Major Share of In-Vitro Transcription Templates Market

Based on treatment, the global in-vitro transcription templates market has been categorized into vaccine and therapeutic. The vaccine segment accounted for major share of the global market in 2020. For instance, the U.S. FDA issued an emergency use authorization (EUA) for Moderna's COVID-19 vaccine for the prevention of coronavirus disease 2019 (COVID-19) caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2).

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Clinical to Dominate In-Vitro Transcription Templates Market

Based on research stage, the global in-vitro transcription templates market has been bifurcated into exploratory and clinical. A number of RNA-based vaccines and therapies is in the pipeline and clinical stage. This is likely to augment the clinical segment over the next few years.

Pharmaceutical & Biotechnology Companies to Account for Major Share of In-Vitro Transcription Templates Market

In terms of end user, the global vitro transcription templates market has been divided into pharmaceutical & biotechnology companies, CROs & CMOs, academics & research, and others. The need of discovery of new therapeutics, vaccines, and capacity expansion leads to high adoption of in-vitro transcription templates among pharmaceutical & biotechnology manufacturers. This is projected to drive the segment during the forecast period.

North America to Dominate In-Vitro Transcription Templates Market

In terms of region, the global in-vitro transcription templates market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global in-vitro transcription templates market in 2020, followed by Europe. North America accounted for major share of the global in-vitro transcription templates market in 2020.

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The growth of the market in the region is can be attributed to increase in demand for biopharmaceuticals such as vaccines and RNA-based therapeutics, peptides for the treatment of cancer, neurological diseases, and chronic kidney diseases. Moreover, rise in prevalence of lifestyle diseases, increase in healthcare spending, and strong economy are factors responsible for North America's dominance of the global in-vitro transcription templates market during the forecast period.

The in-vitro transcription templates market in Asia Pacific is anticipated to grow at a rapid pace during the forecast period. Increase in disposable income and purchasing power of consumers, rise in biotechnology, research institutes, and research funding by government and private bodies, expansion of healthcare infrastructure, large population base, and rise in incidence of chronic and infectious diseases are the key factors expected to augment the in-vitro transcription templates market in Asia Pacific during the forecast period.

Competition Landscape of In-Vitro Transcription Templates Market

The global in-vitro transcription templates market is fragmented in terms of number of players. Key players in the global in-vitro transcription templates market include Thermo Fisher Scientific, Inc., Promega Corporation, Agilent Technologies, Inc., New England Biolabs, Takara Bio Inc., Lucigen Corporation, Enzynomics Co. Ltd., Enzo Life Sciences, Inc. and Cytiva (Danaher)

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