The growth of the pseudouridine market is fuelled by a rising need in the treatment of cancer disease
Covid-19 Impact & Market Status
Due to travel prohibitions and business closures, the COVID-19 has had a negative impact on economies and businesses in a number of countries. The closure of various plants and factories has had a severe influence on global supply chains, negatively affecting manufacturing, delivery schedules, and product sales in the worldwide market. Most sectors, with the exception of medical supplies and life support items, had been severely hit but the pseudouridine market has risen as the demand has increased. As a huge number of vaccines are being produced for the coronavirus hence the need for pseudouridine has increased during this period.
Powder Segment In High Demand
Powder and solutions are the two different types of pseudouridine available in the market. Powder segment has currently earned the highest revenue share in the market and is predicted to continue during the analysis period as it is cheaper and can be incorporated more efficiently with other ingredients.
Vaccines Segment To Earn Highest Revenue
Vaccines and Scientific Research are the two different kinds of applications of the pseudouridine market. The vaccines segment currently earns the highest revenue share in the market, and it is predicted to continue to rise during the analysis period due to the increased demand for vaccines during this pandemic period. As all medical companies are trying to find a cure for the coronavirus hence the need for pseudouridine is necessary because it is to be used in the development of vaccines. Also, pseudouridine is used in vaccines for other harmful and life-threatening diseases.
North America Expected To Dominate The Market
North America is currently earning the highest revenue share in the market and is predicted to dominate the market during the analysis period due to the presence of major corporations in the area and the increased demand for pseudouridine in those regions to find a cure for the various kinds of diseases occurring among the people. Also, these regions have been hit the hardest during the pandemic hence the demand for pseudouridine has grown exponentially. These countries' earnings are a significant component that will likely drive the global market for pseudouridine in the coming years.
Europe and Asia-Pacific also earns a significant revenue share in the pseudouridine market, and the Asia-Pacific is predicted to rise rapidly during the analysis period due to strong demand for cure against major diseases like cancer etc.
The global disruption caused by covid-19 pandemic increased the need of effective vaccine that could find the way out of the pandemic boosted the availability of viral sequence data furthering the development of global pseudouridine market.
The global pseudouridine market is also being propelled by the need for pseudouridine in different kinds of diseases, medications, vaccines and critical contribution made by pseudouridine to the efficacy of covid-19 vaccine is driving the global pseudouridine market.
Pseudouridine was first discovered in the human body as a component of tRNA (transfer RNA), a form of RNA. It is an isomer of the nucleoside uridine in which the uracil is connected via a carbon-carbon glycosidic bond rather than a nitrogen-carbon one. In cellular RNA, pseudodouridine is the most common RNA alteration.
The global pseudouridine market is predicted to grow from USD 958.3 million by 2029 at a Compound Annual Growth Rate (CAGR) of 38.2 percent during the forecast period 2019-2029.
Pseudouridine has a minor but noticeable effect on the adjacent sugar-phosphate backbone, as well as improving base stacking. Most, but not all, pseudouridine residues in RNA may have biological functions due to these effects. Certain genetic mutants lacking certain pseudouridine residues in tRNA or rRNA have difficulty translating, develop slowly, and cannot compete effectively in mixed culture with wild-type cultures. Human disorders like mitochondrial myopathy and sideroblastic anaemia (MLASA) and Dyskeratosis congenita have been linked to pseudouridine alterations. In human immunodeficiency virus (HIV) infections, pseudodouridines have been identified as regulators of viral latency mechanisms.
The global pseudouridine market has intense competition due to the high demand and consists of several big corporations such as MP Biomedicals, BOC Sciences, TriLink BioTechnologies, Thermo Scientific Chemicals, Biosynth Carbosynth, Toronto Research Chemical, Wuhan Finetech, Shanghai Hongene Biotech, Ulcho Biochemical, Wuhan Glycogene, and YAMASA among others.
Latest Innovations in the Global Pseudouridine Market: A Snapshot
- BOC Sciences announces its extensive bespoke synthesis services for biopharmaceutical, chemical, and life science research partners throughout the world. BOC Sciences provides quality-guaranteed chemicals and competent technical support throughout the process thanks to powerful computer-aided technology and an experienced technical team. Chemical synthesis is important in the screening of various potential active components as an integral aspect of drug discovery or other chemical businesses. The synthesis of various compounds is typically a difficult and multi-step process involving a variety of chemical transformations and operations on a variety of raw materials with varying physical and chemical properties. As a result, BOC Sciences and its seasoned chemist team offer a broad range of assured custom synthesis services to assist customers in streamlining the research process and reducing project cycle times.
- In 2020, Moderna Therapeutics and Pfizer-BioNTech introduced two novel vaccine based on mRNA technology.
Pseudouridine Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 958.3 million|
|Growth Rate||CAGR of 38.2% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and South Africa|
|Key Players Profiled||MP Biomedicals, BOC Sciences, TriLink BioTechnologies, Thermo Scientific Chemicals, Biosynth Carbosynth, Toronto Research Chemical, Wuhan Finetech, Shanghai Hongene Biotech, Ulcho Biochemical, Wuhan Glycogene, and YAMASA.|
Key Segments of the Global Pseudouridine Market
Type Overview, 2019-2029 (USD Billion)
Application Overview, 2019-2029 (USD Billion)
- Scientific Research
Regional Overview, 2019-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa