The RNAi therapeutics market was valued at US$ 618. 79 million in 2019 and is projected to reach US$ 1,209. 29 million by 2027; it is expected to grow at a CAGR of 8. 8% during 2020-2027. Increasing number of investments in RNAi therapy development coupled with growing prevalence of infectious diseases and chronic conditions is anticipated to drive the market growth during the forecast period.
New York, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "RNAi Therapeutics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Molecule Type ; Application ; Route of Administration ; End User, and Geography" - https://www.reportlinker.com/p05967905/?utm_source=GNW
However, high cost of RNAi therapies is likely to restraint the growth of the market during the forecast years.
According to the Centers for Disease Control and Prevention (CDC), 6 in 10 people in the US have suffered from at least one chronic disease and 4 in 10 people had two or more chronic diseases in 2019.This factor has propelled the growth of healthcare systems across the world.
Extensive R&D activities are being conducted by government institutions and academic research centers to discover new drug delivery technologies and deal with the increasing number of patients suffering from infectious diseases (e.g., pneumonia, meningitis, food poisoning, and flu) and chronic conditions (e.g., cancer, diabetes, and cardiovascular conditions).
A study published in 2019 by the American Society for Microbiology revealed that 1.5-4.5 million infections were caused due to Carbapenem-resistant Enterobacteriaceae every year across the world. Additionally, the same risk factor leads to the hospitalization of ~49,000 people each year in the US. According to a study published by UNICEF, in 2018, pneumonia caused the death of nearly 1,755,000 children aged five and below; also, nearly 1,200,000 children across the world lost their lives due to diarrhea. These numbers show that the cases of infectious diseases, especially caused due to bacteria, are increasing day by day across the world. Further, cancer and diabetes are the major cause of death among population across the world. According to a study conducted by the American Cancer Society (ACS), in 2018, about 1,735,350 new cancer cases were diagnosed in the US.
Also, according to the International Diabetes Federation (IDF), in 2017, 46 million Americans were diabetic, and this number is expected to reach 62 million by 2045.The report by IDF has also mentioned that ~425 million people were diagnosed for diabetes in 2017, and this number is expected to reach 629 million by 2045 across the world.
Moreover, according to the World Health Organization (WHO), in 2018, about 9.6 million deaths across the world were reported due to cancer. RNAi therapies have significant potential to provide promising treatment for such extensively increasing diseases. Thus, the staggering number of cases necessitates the need for superior treatments, which, in turn, bolsters the growth of the RNAi therapeutics market.
The global impacts of COVID-19 are being felt across several markets.In case of pharmaceutical industry, supply chain operations are significantly hampered due to the pandemic.
However, market players in the RNAi therapeutics are focusing on the development of vaccine with the help of gene silencing technology, which might have a positive impact on the market growth during the forecast period.
Based on molecule type, the RNAi therapeutics market is segmented into small interfering RNAs (siRNA) and microRNA (miRNA).The small interfering RNAs (siRNA) segment held alarger share of the market in 2019.
However, microRNA (miRNA) segment is estimated to register higher CAGR during the forecast period.
Based on application, the RNAi therapeutics market is segmented into oncology, cardiovascular, respiratory disorders, renal diseases, genetic disorders, neurodegenerative disorders, infectious diseases, and others. In 2019, the oncology segment accounted for the largest share of the global RNAi therapeutics market; whereas, the cardiovascular segment is estimated to register the highest CAGR in the market during the forecast period.
Based on route of administration, the RNAi therapeutics market is segmented into pulmonary delivery, intravenous injections, intradermal injections, intraperitoneal injections, and others.In 2019, the pulmonary delivery segment accounted for the largest share of the global RNAi therapeutics market.
However, intravenous injections segment is estimated to register the highest CAGR in the market during the forecast period.
Based on end user, the RNAi therapeutics market is further segmented into research and academic laboratories, hospitals, and diagnostic laboratories. The research and academic laboratories segment held the largest share of the market in 2019 and is expected to register the highest CAGR during the forecast period.
The World Health Organization (WHO), Food and Drug Administration (FDA), NHS (National Health Service), and Centers for Disease Control and Preventionare among the major primary and secondary sources referred for preparing this report.
Read the full report: https://www.reportlinker.com/p05967905/?utm_source=GNW
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