RNAI TECHNOLOGY MARKET ANALYSIS

The global RNAi technology market was valued at US$ 1,783.5 Mn in 2021 and is forecast to reach a value of US$ 3,506.5 Mn by 2028 at a CAGR of 10.1% between 2022 and 2028. The global RNAi technology market is experiencing strong growth due to the increasing prevalence of chronic diseases, such as cardiovascular disease, cancer, diabetes, TB, and AIDS, across the globe and increasing approvals for RNAi therapies or therapeutics. Moreover, rise in focus on the RNAi therapeutic development is expected to boost growth of the market. However, factors such as stringent rules and regulations and unstable potentially immunogenic nature of RNA are expected to hamper growth of the global RNAi technology market.

Global RNAi Technology Market: Regional Insights

Based on geography, the global RNAi technology market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period due to the increasing prevalence of target diseases and increasing demand for advanced diagnostics and therapeutics, especially in the U.S. For instance, the United States has a number of RNAi therapeutics that are in developmental pipelines. Cancer is the second most common cause of death in the U.S., after heart disease. According to the American Cancer Society, in 2022, there will be an estimated 1.9 million new cancer cases diagnosed and 609,360 cancer deaths in the United States. With the increase in prevalence of cancer, the demand for novel diagnostics and therapeutics is also increasing in this region.

Asia Pacific is also expected to witness robust growth in the global RNAi technology market due to the increasing prevalence of cancer and growing geriatric population in this region. For instance, according to a recent report by the Indian Council for Medical Research (ICMR), the number of Indians suffering from cancer is expected to rise to 29.8 million in 2025 from 26.7 million in 2021. A number of pharmaceutical and biotech companies have made considerably high investments for RNAi therapeutic development. This in turn is expected to boost growth of the global RNAi technology market in this region.

Figure 1. Global RNAi Technology Market Share (%), by Region, 2021

Global RNAi Technology Market Drivers:

Increasing prevalence of chronic diseases, such as cardiovascular disease, cancer, diabetes, TB, AIDS, and more, across the globe is expected to boost growth of the global RNAi technology market over the forecast period. RNA based therapeutics has potential to treat variety of chronic diseases, as well as rare and genetic disorders. According to the World Health Organization (WHO), cardiovascular diseases account for most NCD (Non Communicable Disease) deaths, or 17.9 million people annually, followed by cancer (9.3 million), chronic respiratory diseases (4.1 million), and diabetes (2.0 million).

Increasing approvals for RNAi therapies or therapeutics is expected to augment growth of the global RNAi technology market over the forecast period. For instance, RNA based therapeutics has potential to treat variety of diseases, and as a result, players in the market are focusing on developing novel RNA based therapeutics. In December 2021, Novartis received the U.S. Food and Drug Administration (FDA) approval for Leqvio, small interfering RNA (SiRNA) therapy to low-density lipoprotein with two doses a year, after an initial dose and one at three months.

Global RNAi Technology Market Opportunities:

The outbreak of COVID-19 (pandemic) across the globe is expected to offer lucrative growth opportunities for players in the global RNAi technology market. For instance, RNAi is being used effectively for the development of COVID-19 therapeutics. According to article published in July 2020 (titled Prospects for RNAi therapy of COVID-19), the two categories of RNAi targets can be exploited against COVID-19 disease, such as viral proteins essential in survival and replication of SARS-CoV-2 and host factors involved in cellular entry and trafficking of the SARS-CoV-2 (COVID-19) virus.

High investment for RNAi therapeutic development is expected to provide significant growth opportunities for players in the global RNAi technology market. A number of pharmaceutical and biotech companies have invested heavily in RNAi therapeutic development. For instance, AstraZeneca and Ionis pharmaceuticals are investing heavily into RNAi technology and/or for RNAi therapeutic development, as RNA based therapeutics has potential to treat many chronic diseases, as well as rare and genetic disorders. This in turn is expected to provide significant growth opportunities for players in the market.

Global RNAi Technology Market Trends:

The future of RNAi-based therapeutics is limitless, as is any clinical experience with long-term RNAi-based therapies. RNAi-based therapies or therapeutics has potential to treat variety of diseases, as well as rare and genetic disorders. Thus, pharmaceutical and biotech companies are investing heavily in RNAi therapeutic development, and this trend is expected to continue over the forecast period. This in turn is expected to aid in the market growth.

The research activities for RNA-based therapeutics are increasing across the globe, especially in North America, due to favorable government initiatives/policies, availability of substantial research funds, and significant infrastructure for research and development (R&D). This trend is expected to continue during the forecast period, driving the growth of the market.

Global RNAi Technology Market Restraints:

Unstable potentially immunogenic nature of RNA is expected to hamper growth of the global RNAi technology market. For instance, RNA is inherently unstable, potentially immunogenic, and typically requires a delivery vehicle for efficient transport to the targeted cells. Moreover, in its present form, mRNA is unfeasible for clinical use because of its labile and immunogenic nature. This in turn is expected to hinder growth of the market.

Stringent rules and regulations are expected to hinder growth of the RNAi technology market. For instance, getting FDA (Food and Drug Administration) approval for new drug has become extremely challenging, and there has been a decline in the FDA drug approval rates in in the recent years. This in turn is also expected to hamper the growth of the market.

Figure 2. Global RNAi Technology Market Share (%), by Application, 2021

Global RNAi Technology Market Segmentation:

The global RNAi technology market report is segmented into Application and Geography.

Based on Application, the global RNAi technology market is segmented into Drug Discovery and Development and Therapeutics. Of which, Therapeutics Segment is expected to dominate the pain management devices market over the forecast period and this is attributed to the rise in focus on RNAi therapeutic development. RNAi technology has shown promising therapeutic results for a number of diseases, especially in cancer. RNAi is an economic, fast, and efficient method of cancer therapy.

Global RNAi Technology Market: Key Developments

In March 2019, Alnylam submitted CTA Application for ALN-AGT, an investigational RNAi therapeutic for the treatment of hypertension in high unmet need settings.

In August 2018, the FDA approved the first ever RNA interference drug, Alnylam’s Onpattro (patisiran), for nerve damages caused by the rare hereditary transthyretin-mediated amyloidosis (hATTR) disease in adults.

In March 2018, Thermo Fisher Scientific acquired IntegenX, a provider of leading rapid DNA technology for human identification.

Global RNAi Technology Market: Key Companies Insights

The global RNAi technology market is highly competitive. This is attributed to the increasing prevalence of chronic diseases across the world, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global RNAi technology market are:

QIAGEN, Dicerna Pharmaceuticals Inc., Phio Pharmaceuticals Corp., Arcturus Therapeutics, Ionis Pharmaceuticals Inc., Sigma Aldrich (Merck KGaA), Benitec Biopharma Ltd., Silence Therapeutics PLC, SBI Biotech Co. Ltd., Alnylam Pharmaceuticals Inc., and Thermo Fisher Scientific Inc., among others.

*Definition: RNAi (RNA interference) is a biological process in which the RNA molecules are observed to inhibit gene expression or translation, by neutralizing targeted mRNA molecules. RNA interference plays an important role not only in regulating genes but also in mediating cellular defense against infection by RNA viruses