核酸药物：应用领域拓宽，核酸药物迎来爆发性发展期 头豹词条报告系列

Investment Rating - The nucleic acid drug industry is rated as 4 stars, indicating a strong growth potential and investment opportunity [28]. Core Insights - Nucleic acid drugs are emerging as a new treatment modality, showing high efficiency and low toxicity, particularly in rare diseases, and are expanding into common diseases. The global market for nucleic acid drugs is rapidly growing, driven by the expansion of indications, policy support, and R&D collaborations. It is expected to continue expanding, potentially becoming the third major category of drugs, thus driving innovation in the healthcare sector [2][3]. Industry Definition - Nucleic acids, including DNA and RNA, are carriers of genetic information in all living organisms. Nucleic acid drugs utilize the regulatory functions of nucleic acids to intervene in diseases, offering high treatment efficiency and low toxicity [3][4]. Industry Classification - Nucleic acid drugs are classified into small nucleic acid drugs and mRNA products. Small nucleic acid drugs include antisense oligonucleotides (ASO), small interfering RNA (siRNA), microRNA (miRNA), and aptamers. mRNA products are divided into mRNA vaccines and mRNA drugs [3][4]. Industry Characteristics - The nucleic acid drug industry primarily focuses on rare diseases but is gradually expanding to common diseases. The number of approved nucleic acid drugs is steadily increasing due to technological breakthroughs and the expansion of indications [4][5]. Industry Scale - From 2019 to 2023, the global nucleic acid drug market grew from 18.816 billion RMB to 155.828 billion RMB, with a compound annual growth rate (CAGR) of 69.64%. It is projected to decline to 117.545 billion RMB from 2024 to 2028, with a CAGR of -3.82% [25][26]. Competitive Landscape - The nucleic acid drug industry is dominated by multinational companies, with a limited number of approved products. As of the end of 2023, 19 nucleic acid drugs have been approved globally, including 9 ASO drugs and 7 RNAi drugs. The market is expected to evolve with the approval of new drugs [32][33]. Policy Support - Relevant policies provide positive guidance for the development of the nucleic acid drug market, creating a favorable environment for the commercialization of nucleic acid therapies. Policies such as priority review and the "14th Five-Year Plan for the Development of the Biological Industry" support the growth of this sector [26][30].