Report : RNAi Therapeutics Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Molecule Type (Small Interfering RNAs (siRNA) and MicroRNA (miRNA)); Application (Genetic Disorders, Oncology, Neurodegenerative Disorders, Cardiovascular, Respiratory Disorders, Infectious Diseases, Renal Diseases, and Other); Route of Administration (Intradermal Injections, Pulmonary Delivery, Intravenous Injections, Intraperitoneal Injections, and Others); End User (Diagnostic Laboratories, Research and Academic Laboratories, and Hospitals), and Geography
Cardiovascular Segment by Application to Grow at Faster Pace During Forecast Period
According to The Insight Partners market research study of "RNAi Therapeutics Market to 2027 - Global Analysis and Forecast by Molecule Type, Application, Route of Administration, and End User," the market is expected to reach US$ 1,209.29 million by2027 from US$ 618.79 million in 2019. The market is estimated to grow at a CAGR of 8.8% from 2020 to 2027. The report highlights trends prevailing in the global RNAi therapeutics market and the factors driving market along with those that act as hindrances.
Based on application, the global RNAi therapeutics market is segmented into oncology, cardiovascular, respiratory disorders, renal diseases, genetic disorders, neurodegenerative disorders, infectious diseases, and others. The oncology segment held the largest share of the market in 2019; whereas, the cardiovascular segment is estimated to register the highest CAGR in the market during the forecast period. Factors such as increasing prevalence of cardiovascular diseases coupled with rising demand for superior alternative for the treatment of cardiovascular conditions is expected to boost the segment growth. Moreover, increasing research and development activities in order to validate the feasibility of RNAi therapies for cardiovascular conditions are projected to drive the cardiovascular application segment.
RNAi refers to the interference RNA which is responsible to control and manipulate protein translation in the cell. These RNAi are used to silence particular genes that are responsible for diseases. At present, the awareness about RNAi is increasing due to its ability to offer target specific mechanism, leading to superior treatment outcomes. The approach is widely utilized for drug development. Increasing investments in RNAi therapy development coupled with growing prevalence of infectious diseases and chronic conditions are anticipated to drive the market growth during the forecast period. However, high cost of RNAi therapy development is anticipated to hamper the market growth.
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.
Alnylam Pharmaceuticals, Inc.; Sanofi, Olix Pharmaceuticals, Inc.; Glaxosmithkline Plc.; Benitec Biopharma; Arbutus Biopharma Corporation; Silence Therapeutics; Rexahn Pharmaceuticals, Inc.; Arrowhead Pharmaceuticals, Inc; and Quark are among the leading companies operating in the RNAi therapeutics market.
The Report Segments Global RNAi Therapeutics Market as follows:
By Molecule Type
By Route of Administration
By End User