(PharmaNewsWire.Com, December 01, 2021 ) MarketsandMarkets™ Research Report’s View on Revenue Impact?
The Aptamers Market valued at an estimated USD 151 million in 2021 and is projected to reach USD 342 million by 2026, at a CAGR of 17.7% during the forecast period.
Factors Responsible for Growth and In-Depth Analysis?
The Growth of aptamers technology market is attributed to factors such as increase in number of clinical trials for development of aptamer-based therapeutics, increase in awareness about advantages of aptamers as compared to antibodies, rising investment in pharmaceutical R&D, and rising prevalence of chronic and rare diseases to increase the demand for aptamer-based therapeutics and diagnostics. Growth in the venture capital funding for research on aptamers and growing collaborations with research institutes and pharmaceutical companies are also expected to offer a wide range of growth opportunities to players in the market.
On the other hand, low market acceptance as compared to antibodies is likely to restrain the market growth while shortage of skilled & trained professionals may challenge market growth to a certain extent.
Some of the prominent players operating in this market include Aptamer Group (UK), Raptamer Discovery Group (US), SomaLogic Inc. (US), Aptamer Sciences, Inc. (South Korea) and Aptagen, LLC (US).
Aptamer Group (UK) has developed a cutting edge Optimer technology, which is used to offer aptamer-based solutions in the market. This unique technology has enabled the company to strengthen its position in the market. The company focuses on expanding its reach into diagnostic and therapeutic applications. The company is developing Optimer therapeutics for treating myeloid cancer, renal disease, and hematological cancer. In the last three years, the company has focused on collaborations and agreements to expand its geographic reach and the capabilities of Optimer technology in therapeutics. It recently collaborated with various diagnostic and pharmaceutical companies to determine the potential for aptamers as therapeutic agents and in diagnostics. This has enabled the company to increase its foothold in the aptamers technology market.
Raptamer Discovery Group (US) has focused on developing next-generation aptamers for diagnostic and therapeutic applications. The company employs Raptamer technology for developing these aptamers. The company has a strong customer base including pharmaceutical companies and academic & research institutes across the globe. The company has received funding for developing aptamer-based therapeutic from various government institutes such as National Aeronautics and Space Agency (NASA) and the National Institutes of Health (NIH). This has provided the company a gateway to expand its horizon into therapeutics development applications.
Geographical Analysis in Detailed?
The global aptamers market is segmented into five major regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of this market. The largest share of North America is attributed to the availability of funds to develop innovative technologies, the presence of prominent market players, and growing collaborations among companies. The Asia Pacific market is estimated to record the highest CAGR during the forecast period. This is attributed to the rising R&D activities on aptamers, the development of aptamer-based products, and the rising focus on drug discovery and development.
“The therapeutics development segment will continue to dominate the aptamers application market during the forecast period”
Based on the application, the aptamers market is segmented into therapeutics development, research & development, diagnostics, and other applications. In 2020, the therapeutics development segment dominated the market due to the increasing number of clinical trials evaluating aptamers for new therapies and collaborations among aptamer companies & prominent pharmaceutical and biotechnology firms. The diagnostic segment is projected to grow at the highest CAGR due to the increasing prevalence of chronic diseases and the development of new diagnostic kits to detect cancer and other diseases.
Pharmaceutical & biotechnology companies are the largest end users of aptamers.
Based on end user, the global aptamers market is segmented into pharmaceutical companies & biotechnology companies, academic & government research institutes, contract research organizations, and other end users. In 2020, pharmaceutical & biotechnology companies dominated the market owing to the increasing number of market players offering custom aptamers for use in therapeutics development & rising R&D expenditure. The diagnostic segment will record the highest CAGR during the forecast period due to the development of diagnostic tools for cancer and infectious diseases.
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