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Industry Research
Antisense oligonucleotides (ASO) Drug and siRNA Drug Industry Research Report 2026
Market perspective
The global Antisense oligonucleotides (ASO) Drug and siRNA Drug market was valued at US$ million in 2025 and is projected to reach US$ million by 2032, implying a CAGR of % over 2026–2032.
North America: the Antisense oligonucleotides (ASO) Drug and siRNA Drug market is projected to increase from US$ million in 2026 to US$ million by 2032, reflecting a CAGR of % over 2026–2032. Europe: the Antisense oligonucleotides (ASO) Drug and siRNA Drug market is projected to rise from US$ million in 2026 to US$ million by 2032, registering a CAGR of % over 2026–2032. Asia Pacific: the Antisense oligonucleotides (ASO) Drug and siRNA Drug market is expected to grow from US$ million in 2026 to US$ million by 2032, at a CAGR of % over 2026–2032. Leading global service providers of Antisense oligonucleotides (ASO) Drug and siRNA Drug include Novartis, Novo Nordisk, Biogen, AstraZeneca, WAVElife, Therapeutics, The WhiteOak Group, Inc., Sylentis and Sirnaomics, among others; in 2025, the top three vendors together accounted for approximately % of global revenue.
Report Scope
Read the full market overview
This report quantifies the global Antisense oligonucleotides (ASO) Drug and siRNA Drug market in terms of revenue (US$ million) and, where applicable, service volume (k units), using 2024 as the base year and providing annual historical and forecast data for 2021–2032.
It standardizes definitions of service Types and end-use Applications, harmonizes provider attribution, and delivers comparable time series by company, Type, Application, and region/country, including indicative price bands (US$/k units) and concentration ratios (CR5/CR10). Outputs are intended to support service design, budgeting, capacity planning, and benchmarking for providers, platforms, channel partners, and investors; the report also reviews technology shifts and notable service innovations relevant to Antisense oligonucleotides (ASO) Drug and siRNA Drug.
Key Companies & Market Share Insights
This section profiles leading service providers with 2021–2025 results and a 2026–2032 outlook—covering revenue, market share, price bands, service portfolio and client mix, regional and channel mix, and key developments (M&A, network expansion, certifications). It also provides global revenue, average price, and—where applicable—volume metrics by provider, and calculates CR5/CR10 and rank changes to support comparative benchmarking.
Antisense oligonucleotides (ASO) Drug and siRNA Drug Market by Company
Novartis
Novo Nordisk
Biogen
AstraZeneca
WAVElife
Therapeutics
The WhiteOak Group, Inc.
Sylentis
Sirnaomics
Silence
Secarna
Sarepta Therapeutics
Quark Pharmaceuticals
ProQR
Miragen Therapeutics
Ionis
Genzyme
Exicure
Dicerna
Avidity Biosciences
Arrowhead
Alnylam
Akcea
Antisense oligonucleotides (ASO) Drug and siRNA Drug Segment by Type
Antisense Oligonucleotides (ASO) Drug
siRNA Drug
Antisense oligonucleotides (ASO) Drug and siRNA Drug Segment by Application
Chronic Liver Disease
Protein Deposition Disease
Single Gene Rare Disease
Others
Antisense oligonucleotides (ASO) Drug and siRNA Drug Segment by Region
North America
United States
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Russia
Netherlands
Nordic Countries
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Southeast Asia
South America
Brazil
Argentina
Chile
Colombia
Middle East & Africa
Saudi Arabia
Israel
United Arab Emirates
Turkey
Iran
Egypt
Key Drivers & Barriers
High-impact rendering factors and drivers have been studied in this report to aid the readers to understand the general development. Moreover, the report includes restraints and challenges that may act as stumbling blocks on the way of the players. This will assist the users to be attentive and make informed decisions related to business. Specialists have also laid their focus on the upcoming business prospects.
Reasons to Buy This Report
1. This report will help the readers to understand the competition within the industries and strategies for the competitive environment to enhance the potential profit. The report also focuses on the competitive landscape of the global Antisense oligonucleotides (ASO) Drug and siRNA Drug market, and introduces in detail the market share, industry ranking, competitor ecosystem, market performance, new product development, operation situation, expansion, and acquisition. etc. of the main players, which helps the readers to identify the main competitors and deeply understand the competition pattern of the market.
2. This report will help stakeholders to understand the global industry status and trends of Antisense oligonucleotides (ASO) Drug and siRNA Drug and provides them with information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to understand competitors better and gain more insights to strengthen their position in their businesses. The competitive landscape section includes the market share and rank (in volume and value), competitor ecosystem, new product development, expansion, and acquisition.
4. This report stays updated with novel technology integration, features, and the latest developments in the market
5. This report helps stakeholders to gain insights into which regions to target globally
6. This report helps stakeholders to gain insights into the end-user perception concerning the adoption of Antisense oligonucleotides (ASO) Drug and siRNA Drug.
7. This report helps stakeholders to identify some of the key players in the market and understand their valuable contribution.
Chapter Outline
Chapter 1: Research objectives, research methods, data sources, data cross-validation;
Chapter 2: Introduces the report scope of the report, executive summary of different market segments (product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.
Chapter 3: Provides the analysis of various market segments product types, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Introduces executive summary of global market size, regional market size, this section also introduces the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by companies in the industry, and the analysis of relevant policies in the industry.
Chapter 6: Detailed analysis of Antisense oligonucleotides (ASO) Drug and siRNA Drug companies’ competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 7, 8, 9, 10, 11: North America, Europe, Asia Pacific, South America, Middle East and Africa segment by country. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and capacity of each country in the world.
Chapter 12: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including revenue, gross margin, product introduction, recent development, etc.
Chapter 13: The main points and conclusions of the report.
More report detail
Tables and figures
Scope & coverage.
Types
- Antisense Oligonucleotides (ASO) Drug
- siRNA Drug
Applications
- Chronic Liver Disease
- Protein Deposition Disease
- Single Gene Rare Disease
- Others
Companies covered
- Novartis
- Novo Nordisk
- Biogen
- AstraZeneca
- WAVElife
- Therapeutics
- The WhiteOak Group, Inc.
- Sylentis
- Sirnaomics
- Silence
- Secarna
- Sarepta Therapeutics
- Quark Pharmaceuticals
- ProQR
- Miragen Therapeutics
- Ionis
- Genzyme
- Exicure
- Dicerna
- Avidity Biosciences
- Arrowhead
- Alnylam
- Akcea
Inside the report.
1 Preface
- 1.1 Scope of Report
- 1.2 Reasons for Doing This Study
- 1.3 Research Methodology
- 1.4 Research Process
- 1.5 Data Source
- 1.5.1 Secondary Sources
- 1.5.2 Primary Sources
2 Market Overview
- 2.1 Product Definition
- 2.2 Antisense oligonucleotides (ASO) Drug and siRNA Drug by Type
- 2.2.1 Market Value Comparison by Type (2021 VS 2025 VS 2032)
- 2.2.2 Antisense Oligonucleotides (ASO) Drug
- 2.2.3 siRNA Drug
- 2.3 Antisense oligonucleotides (ASO) Drug and siRNA Drug by Application
- 2.3.1 Market Value Comparison by Application (2021 VS 2025 VS 2032)
- 2.3.2 Chronic Liver Disease
- 2.3.3 Protein Deposition Disease
- 2.3.4 Single Gene Rare Disease
- 2.3.5 Others
- 2.4 Assumptions and Limitations
3 Antisense oligonucleotides (ASO) Drug and siRNA Drug Breakdown Data by Type
- 3.1 Global Antisense oligonucleotides (ASO) Drug and siRNA Drug Historic Market Size by Type (2021-2026)
- 3.2 Global Antisense oligonucleotides (ASO) Drug and siRNA Drug Forecasted Market Size by Type (2027-2032)
4 Antisense oligonucleotides (ASO) Drug and siRNA Drug Breakdown Data by Application
- 4.1 Global Antisense oligonucleotides (ASO) Drug and siRNA Drug Historic Market Size by Application (2021-2026)
- 4.2 Global Antisense oligonucleotides (ASO) Drug and siRNA Drug Forecasted Market Size by Application (2027-2032)
5 Global Growth Trends
- 5.1 Global Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Perspective (2021-2032)
- 5.2 Global Antisense oligonucleotides (ASO) Drug and siRNA Drug Growth Trends by Region
- 5.2.1 Global Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size by Region: 2021 VS 2025 VS 2032
- 5.2.2 Antisense oligonucleotides (ASO) Drug and siRNA Drug Historic Market Size by Region (2021-2026)
- 5.2.3 Antisense oligonucleotides (ASO) Drug and siRNA Drug Forecasted Market Size by Region (2027-2032)
- 5.3 Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Dynamics
- 5.3.1 Antisense oligonucleotides (ASO) Drug and siRNA Drug Industry Trends
- 5.3.2 Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Drivers
- 5.3.3 Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Challenges
- 5.3.4 Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Restraints
6 Market Competitive Landscape by Players
- 6.1 Global Top Antisense oligonucleotides (ASO) Drug and siRNA Drug Players by Revenue
- 6.1.1 Global Top Antisense oligonucleotides (ASO) Drug and siRNA Drug Players by Revenue (2021-2026)
- 6.1.2 Global Antisense oligonucleotides (ASO) Drug and siRNA Drug Revenue Market Share by Players (2021-2026)
- 6.2 Global Antisense oligonucleotides (ASO) Drug and siRNA Drug Industry Players Ranking, 2023 VS 2024 VS 2025
- 6.3 Global Key Players of Antisense oligonucleotides (ASO) Drug and siRNA Drug Head Office and Area Served
- 6.4 Global Antisense oligonucleotides (ASO) Drug and siRNA Drug Players, Product Type & Application
- 6.5 Global Antisense oligonucleotides (ASO) Drug and siRNA Drug Manufacturers Established Date
- 6.6 Global Antisense oligonucleotides (ASO) Drug and siRNA Drug Market CR5 and HHI
- 6.7 Global Players Mergers & Acquisition
7 North America
- 7.1 North America Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size (2021-2032)
- 7.2 North America Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 7.3 North America Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size by Country (2021-2026)
- 7.4 North America Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size by Country (2027-2032)
- 7.5 United States
- 7.5 United States
- 7.6 Canada
- 7.7 Mexico
8 Europe
- 8.1 Europe Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size (2021-2032)
- 8.2 Europe Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 8.3 Europe Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size by Country (2021-2026)
- 8.4 Europe Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size by Country (2027-2032)
- 8.5 Germany
- 8.6 France
- 8.7 U.K.
- 8.8 Italy
- 8.9 Spain
- 8.10 Russia
- 8.11 Netherlands
- 8.12 Nordic Countries
9 Asia-Pacific
- 9.1 Asia-Pacific Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size (2021-2032)
- 9.2 Asia-Pacific Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 9.3 Asia-Pacific Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size by Country (2021-2026)
- 9.4 Asia-Pacific Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size by Country (2027-2032)
- 9.5 China
- 9.6 Japan
- 9.7 South Korea
- 9.8 India
- 9.9 Australia
- 9.10 China Taiwan
- 9.11 Southeast Asia
10 South America
- 10.1 South America Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size (2021-2032)
- 10.2 South America Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 10.3 South America Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size by Country (2021-2026)
- 10.4 South America Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size by Country (2027-2032)
- 10.5 Brazil
- 10.6 Argentina
- 10.7 Chile
- 10.8 Colombia
- 10.9 Peru
11 Middle East & Africa
- 11.1 Middle East & Africa Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size (2021-2032)
- 11.2 Middle East & Africa Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Growth Rate by Country: 2021 VS 2025 VS 2032
- 11.3 Middle East & Africa Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size by Country (2021-2026)
- 11.4 Middle East & Africa Antisense oligonucleotides (ASO) Drug and siRNA Drug Market Size by Country (2027-2032)
- 11.5 Saudi Arabia
- 11.6 Israel
- 11.7 United Arab Emirates
- 11.8 Turkey
- 11.9 Iran
- 11.10 Egypt
12 Players Profiled
- 12.1 Novartis
- 12.1.1 Novartis Company Information
- 12.1.2 Novartis Business Overview
- 12.1.3 Novartis Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.1.4 Novartis Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.1.5 Novartis Recent Developments
- 12.2 Novo Nordisk
- 12.2.1 Novo Nordisk Company Information
- 12.2.2 Novo Nordisk Business Overview
- 12.2.3 Novo Nordisk Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.2.4 Novo Nordisk Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.2.5 Novo Nordisk Recent Developments
- 12.3 Biogen
- 12.3.1 Biogen Company Information
- 12.3.2 Biogen Business Overview
- 12.3.3 Biogen Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.3.4 Biogen Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.3.5 Biogen Recent Developments
- 12.4 AstraZeneca
- 12.4.1 AstraZeneca Company Information
- 12.4.2 AstraZeneca Business Overview
- 12.4.3 AstraZeneca Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.4.4 AstraZeneca Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.4.5 AstraZeneca Recent Developments
- 12.5 WAVElife
- 12.5.1 WAVElife Company Information
- 12.5.2 WAVElife Business Overview
- 12.5.3 WAVElife Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.5.4 WAVElife Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.5.5 WAVElife Recent Developments
- 12.6 Therapeutics
- 12.6.1 Therapeutics Company Information
- 12.6.2 Therapeutics Business Overview
- 12.6.3 Therapeutics Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.6.4 Therapeutics Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.6.5 Therapeutics Recent Developments
- 12.7 The WhiteOak Group, Inc.
- 12.7.1 The WhiteOak Group, Inc. Company Information
- 12.7.2 The WhiteOak Group, Inc. Business Overview
- 12.7.3 The WhiteOak Group, Inc. Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.7.4 The WhiteOak Group, Inc. Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.7.5 The WhiteOak Group, Inc. Recent Developments
- 12.8 Sylentis
- 12.8.1 Sylentis Company Information
- 12.8.2 Sylentis Business Overview
- 12.8.3 Sylentis Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.8.4 Sylentis Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.8.5 Sylentis Recent Developments
- 12.9 Sirnaomics
- 12.9.1 Sirnaomics Company Information
- 12.9.2 Sirnaomics Business Overview
- 12.9.3 Sirnaomics Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.9.4 Sirnaomics Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.9.5 Sirnaomics Recent Developments
- 12.10 Silence
- 12.10.1 Silence Company Information
- 12.10.2 Silence Business Overview
- 12.10.3 Silence Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.10.4 Silence Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.10.5 Silence Recent Developments
- 12.11 Secarna
- 12.11.1 Secarna Company Information
- 12.11.2 Secarna Business Overview
- 12.11.3 Secarna Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.11.4 Secarna Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.11.5 Secarna Recent Developments
- 12.12 Sarepta Therapeutics
- 12.12.1 Sarepta Therapeutics Company Information
- 12.12.2 Sarepta Therapeutics Business Overview
- 12.12.3 Sarepta Therapeutics Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.12.4 Sarepta Therapeutics Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.12.5 Sarepta Therapeutics Recent Developments
- 12.13 Quark Pharmaceuticals
- 12.13.1 Quark Pharmaceuticals Company Information
- 12.13.2 Quark Pharmaceuticals Business Overview
- 12.13.3 Quark Pharmaceuticals Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.13.4 Quark Pharmaceuticals Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.13.5 Quark Pharmaceuticals Recent Developments
- 12.14 ProQR
- 12.14.1 ProQR Company Information
- 12.14.2 ProQR Business Overview
- 12.14.3 ProQR Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.14.4 ProQR Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.14.5 ProQR Recent Developments
- 12.15 Miragen Therapeutics
- 12.15.1 Miragen Therapeutics Company Information
- 12.15.2 Miragen Therapeutics Business Overview
- 12.15.3 Miragen Therapeutics Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.15.4 Miragen Therapeutics Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.15.5 Miragen Therapeutics Recent Developments
- 12.16 Ionis
- 12.16.1 Ionis Company Information
- 12.16.2 Ionis Business Overview
- 12.16.3 Ionis Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.16.4 Ionis Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.16.5 Ionis Recent Developments
- 12.17 Genzyme
- 12.17.1 Genzyme Company Information
- 12.17.2 Genzyme Business Overview
- 12.17.3 Genzyme Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.17.4 Genzyme Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.17.5 Genzyme Recent Developments
- 12.18 Exicure
- 12.18.1 Exicure Company Information
- 12.18.2 Exicure Business Overview
- 12.18.3 Exicure Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.18.4 Exicure Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.18.5 Exicure Recent Developments
- 12.19 Dicerna
- 12.19.1 Dicerna Company Information
- 12.19.2 Dicerna Business Overview
- 12.19.3 Dicerna Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.19.4 Dicerna Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.19.5 Dicerna Recent Developments
- 12.20 Avidity Biosciences
- 12.20.1 Avidity Biosciences Company Information
- 12.20.2 Avidity Biosciences Business Overview
- 12.20.3 Avidity Biosciences Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.20.4 Avidity Biosciences Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.20.5 Avidity Biosciences Recent Developments
- 12.21 Arrowhead
- 12.21.1 Arrowhead Company Information
- 12.21.2 Arrowhead Business Overview
- 12.21.3 Arrowhead Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.21.4 Arrowhead Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.21.5 Arrowhead Recent Developments
- 12.22 Alnylam
- 12.22.1 Alnylam Company Information
- 12.22.2 Alnylam Business Overview
- 12.22.3 Alnylam Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.22.4 Alnylam Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.22.5 Alnylam Recent Developments
- 12.23 Akcea
- 12.23.1 Akcea Company Information
- 12.23.2 Akcea Business Overview
- 12.23.3 Akcea Revenue in Antisense oligonucleotides (ASO) Drug and siRNA Drug Business (2021-2026)
- 12.23.4 Akcea Antisense oligonucleotides (ASO) Drug and siRNA Drug Product Portfolio
- 12.23.5 Akcea Recent Developments
13 Report Conclusion
14 Disclaimer
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