RNAi (RNA interference) based therapeutics has potential to treat a variety of diseases. RNAi has also got a potential for the treatment of viral diseases such as those caused by the hepatitis C virus (HCV) and the human immunodeficiency virus (HIV). Moreover, RNAi is considered a highly specific approach for gene silencing and holds tremendous potential for treatment of various pathologic conditions such as cancer, viral infections, cardiovascular diseases, among others, RNAi is now commonly used in biological and biomedical research to study the effect of blocking expression of a given gene.
Market Statistics:
The global RNAi technology market is estimated to account for US$ 1,963.2 Million in terms of value by the end of 2022.
Drivers:
Increase in focus on the RNAi therapeutic development (RNAi based therapeutics has potential to treat a variety of diseases) is expected to propel the growth of the global RNAi technology market during the forecast period. For instance, market players are investing heavily for RNAi therapeutic development. In February 2022, Sirnaomics Ltd. announced the start of a Phase I clinical trial for evaluation of the safety, tolerability, and anti-tumor activity of the Company's siRNA (small interfering RNA) drug candidate, STP707 with intravenous (IV) administration in the United States for the treatment of solid tumors.
Opportunities:
Rising cases of cancer across the globe is expected to provide substantial growth opportunities for players in the global RNAi technology market. For instance, with the growing incidence of cancer among the global population, demand for effective cancer therapeutics is also increasing with a rapid pace. Cancer is one of the world's largest health problems. According to the World Health Organization (WHO), cancer was the leading cause of death worldwide, accounting for nearly 10 million deaths in 2020, or nearly one in six deaths. As a result, many pharmaceutical and biotechnology companies are heavily investing in research and development to deliver novel (RNAi-based) cancer treatment/therapeutics.
To know the latest trends and insights prevalent in The Global RNAi Technology Market, click the link below:
https://www.coherentmarketinsights.com/market-insight/rnai-technology-market-5281
Restraints:
Stringent rules and regulations and unstable potentially immunogenic nature of RNA are major factors expected to hinder growth of the global RNAi technology market. For instance, due to the inherent instability of RNA, RNA-based therapeutics need specialized delivery vehicles or chemical modifications to allow them to reach minimum effective concentration. Furthermore, mRNA is unfeasible for clinical use because of its labile and immunogenic nature. This in turn is expected to hinder growth of the market. This in turn is expected to hamper growth of the global RNAi technology market.
Global RNAi Technology Market - Impact of Coronavirus (Covid-19) Pandemic
The outbreak of COVID-19 (pandemic) is expected to have a significant impact on the growth of the market. RNAi technology is being effectively used for the development of COVID-19 therapeutics. RNAi against COVID-19 disease can potentially be directed against two different categories of targets, such as viral proteins essential in survival and replication of SARS-CoV-2, and host factors involved in cellular entry and trafficking of the virus. Moreover, the U.S. Food and Drug Administration (FDA) has approved three siRNA products for human use that garner significant hope in siRNA therapeutics for coronaviruses. This in turn is expected to aid in the growth of the global RNAi technology market.
Key Takeaways:
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.
Among application drug discovery and development segment held dominant position in the global RNAi technology market in 2021, accounting for 98.5% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Market Trends:
The future of RNAi-based therapeutics is boundless, as there are any clinical experience with long-term RNAi-based therapies. Research and development (R&D) activities for RNA-based therapeutics are increasing across the globe, due to availability of substantial research funds, favorable government initiatives, and significant infrastructure for R&D. This trend is expected to continue during the forecast period, driving the market growth.
Competitive Landscape:
Major players operating in the global RNAi technology market include 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.
Recent Developments:
In March 2019, Thermo Fisher Scientific and Brammer Bio entered into a definitive agreement, under which Thermo Fisher will acquire Brammer Bio for USD 1.7 billion in cash.
In November 2018, Vir Biotechnology Inc. and Alnylam Pharmaceuticals Inc. announced the initiation of a Phase 1/2 study of VIR-2218, a novel, investigational RNA interference (RNAi) therapeutic for the treatment of chronic hepatitis B virus (HBV) infection.
