South Korea RNA Therapeutics Market Assessment, By Type [RNA Interference Therapeutics, mRNA Therapeutics, Antisense Oligonucleotide Therapeutics, Others], By Product [Vaccines, Drugs], By Indication [Rare Genetic Diseases/Hereditary Diseases, Infectious Diseases, Others], By End-user [Hospitals, Academic Research Centers, Contract Research Organizations, Others], By Region, Opportunities and Forecast, 2017-2031F

South Korea RNA therapeutics market is projected to witness a CAGR of 8.23% during the forecast period 2024-2031, growing from USD 600.36 million in 2023 to USD 1,130.24 million in 2031. The market’s growth is bolstered by rising research and development activities, increasing collaborations between pharmaceutical companies and international research organizations and pharma and biotech companies, and growing emphasis on the development of RNA vaccines.

RNA therapeutics are expected to alter the landscape of the pharmaceutical sector as the conventional drug strategies are reliant on the ability of small molecule drugs for inhibiting and altering the functions of the proteins by targeting their active sites. The rising collaborations between leading pharmaceutical companies and laboratories are expected to propel the growth of the South Korea RNA therapeutics market. In January 2024, Dong-A ST and Eleven Therapeutics Ltd. announced collaboration to develop RNA-based gene therapies. The partnership is expected to focus on discovering various RNA therapies that target fibrotic diseases with the help of the latter’s TERA platform technology. The platform is known for utilizing machine learning and artificial intelligence (AI) to decode RNA chemical modifications, allowing the discovery of xRNA drugs. The companies are striving towards applying xRNA therapies across different therapeutic areas. Such collaborations are expected to address the unmet requirements of various diseases and allow the development of innovative RNA therapies.

Additionally, the rising efforts of the market players to bolster the availability of various RNA therapies in South Korea are also expected to augment the market’s expansion. In January 2022, ST Pharm Co. hosted an investor relations conference in Seoul for oligonucleotides, the raw material essential for RNA therapeutics. Meanwhile, SK Inc. and BIORCHESTRA Co., Ltd. joined hands to develop treatment solutions for epilepsy with the help of microRNA (miRNA) technology. Such collaborations and efforts are expected to bolster the development and availability of RNA therapeutics in South Korea.

Supportive Collaborations Bolster Market Expansion

The rising collaborations in the country to augment the development of RNA therapeutics are expected to influence the market’s expansion positively. In November 2023, NuclixBio, Inc. and ProBio Biotech Corporation announced a partnership to develop the first circular RNA-based anticancer drugs in the country. This partnership will aid the companies in establishing a production process for circular RNA-based therapies from preclinical to clinical stages in South Korea while serving as a cornerstone for NuclixBio’s circular RNA immune cancer treatment to enter clinical trials. The rapidly evolving sector of RNA therapeutics and the advantages associated with circular RNA, including the production of more therapeutic proteins and persistence in the body for extended time periods, are also propelling the efforts toward the development of next-generation mRNA technology.

Rising Research Activities Support Market Growth

The increasing investments in research and development activities due to the rising awareness about the different advantages associated with RNA therapeutics are expected to bolster the growth of the South Korea RNA therapeutics market. For instance, two studies published in the Nature journal (Springer Nature Limited) in February 2023 have revealed the function of Dicer protein in generation of miRNA. miRNA binds to mRNA that selectively suppresses the specific gene expression. The regulation of this gene expression by miRNA can indirectly or directly affect cell differentiation and proliferation, disease, and immune response. These miRNAs are produced via a unique process where the pre-miRNA is cleaved by Dicer proteins and Drosha. The comprehension of the process of miRNA generation can aid in improving gene therapies and the identification of the cause of disease by increasing RNAi’s efficiency. Such activities and developments are expected to provide lucrative growth opportunities for the market in the coming years.

mRNA Therapeutics Account for Major Market Share

The principle of mRNA therapeutics includes the delivery of in vitro transcribed mRNA in the target cells. The mRNA therapeutics enable the draggability of secreted, intracellular, and transmembrane proteins, allow the restoration of gene expression without risking genomic integration, and ensure minimal changes to the manufacturing processes of multiple targets. Due to the central role of mRNA in the expression of proteins, mRNA technology has broad applicability in the prevention and treatment of diseases.

Increasing approvals for different RNA therapeutics are expected to boost the South Korea RNA therapeutics market growth. In July 2023, Lemonex Inc. received approval for their Investigational New Drug (IND) application from the Ministry of Food and Drug Safety for LEM-mR203, their mRNA vaccine with nano-drug delivery technology.

Vaccine Segment Holds Major Market Share

The rising efforts by different companies to accelerate the development of RNA vaccines in South Korea are expected to provide lucrative growth opportunities to the market. Various technology driven contract development and manufacturing organizations in Korea are collaborating with international bioscience companies to bolster the manufacturing and development of RNA vaccines. In August 2024, Quantoom Biosciences SA and ST Pharm Co., Ltd. announced an extended collaboration to improve the supply of critical RNA manufacturing technologies. This collaboration is also expected to pave the road for an extended partnership under which ST Pharm’s advanced IVT-based mRNA-LNP platform, including novel formulation and capping reagents that will be made available with the Ncapsulate and Ntensify mRNA production platform, with the aim of creating a flexible and robust RNA manufacturing ecosystem. Such partnerships are expected to aid the companies in leveraging their technologies and bolster the production and development of innovative RNA vaccines.

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Future Market Scenario (2024-2031F)

As per the South Korea RNA therapeutics market analysis, the market is expected to witness significant growth in the coming years due to the growing awareness about the benefits of RNA therapeutics, rising research activities and investments in RNA technology, and increasing partnerships and collaborations. BioNTech SE is conducting an interventional study to investigate the therapeutic effects, safety, and tolerability of BNT113. The trial has been divided into two parts A and B, that included a non-randomized run-in phase for confirming the tolerability and safety at a selected dosage range and a randomized trial for generating safety and efficacy data of BNT113. The study is expected to conclude in May 2028.

Additionally, the growing efforts of the Coalition for Epidemic Preparedness Innovations (CEPI) to bolster the development of RNA therapeutics and self-amplifying mRNA vaccine technology are also expected to influence the market’s expansion in the coming years positively. The Chungbuk National University (CBNU) is also working towards the development of innovative technologies, which in turn is expected to increase the accessibility of mRNA vaccines and accelerate the outbreak response in the future. CBNU’s mRNA vaccine technology promises to evolve the vaccine development process significantly and offer adaptable, cost-effective, and faster solutions for novel health threats.

Report Scope

“South Korea RNA Therapeutics Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of South Korea RNA therapeutics market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	2023
Historical Period	2017-2022
Forecast Period	2024-2031
Projected Growth Rate	CAGR of 8.23% between 2024 and 2031
Revenue Forecast in 2031	USD 1,130.24 million
Segments Covered	Type, Product, Indication, End-user
Regions Covered	North Chungcheong, South Chungcheong, Gangwon, North Gyeongsang, Gyeonggi, South Gyeongsang, Jeju, North Jeolla, South Jeolla
Key Companies Profile	Rznomics Inc., Pfizer Inc., Biogen Inc., Novartis Korea Limited, Moderna, Inc.
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, South Korea RNA therapeutics market has been segmented into the following categories: 

• By Type
  • RNA Interference (RNAi) Therapeutics
  • mRNA Therapeutics
  • Antisense Oligonucleotide (ASO) Therapeutics
  • Others
• By Product
  • Vaccines
  • Drugs
• By Indication
  • Rare Genetic Diseases/Hereditary Diseases
  • Infectious Diseases
  • Others
• By End-user
  • Hospitals
  • Academic Research Centers
  • Contract Research Organizations
  • Others
• By Region
  • North Chungcheong
  • South Chungcheong
  • Gangwon
  • North Gyeongsang
  • Gyeonggi
  • South Gyeongsang
  • Jeju
  • North Jeolla
  • South Jeolla

Key Players Landscape and Outlook

Rising collaborations between contract development and manufacturing organizations and bio-pharmaceutical companies specializing in the development of RNA therapeutics is bolstering the South Korea RNA therapeutics market size. In August 2024, Rznomics Inc. and SK pharmteco Inc. signed a memorandum of understanding for a manufacturing and contract development partnership. The multi-year partnership between the companies is expected to allow the commercialization and development of RNA-based gene therapy products in South Korea. The combination of Rznomic’s innovative RNA-based therapeutic approach and SK pharmecto’s expertise in gene therapy is expected to ensure the delivery of potentially life-changing treatment solutions for patients. SK pharmecto is going to provide resources and technical expertise, including personnel and facilities, to support the commercial manufacturing of RNA-based biopharmaceutical products.

Key Players Operating in South Korea RNA Therapeutics Market are:

• Rznomics Inc.
• Pfizer Inc.
• Biogen Inc.
• Novartis Korea Limited
• Moderna, Inc.

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• What is the current and future market size of the product/service in question globally or specific to different countries?
• How are the markets divided into different product/service segments and the market size and growth of each segment?
• What is the market potential of different product segments and their investment case?
• How are the markets predicted to develop in the future and what factors will drive or inhibit growth?
• What is the business environment and regulatory landscape specific to the product/service?

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