Global RNAi Technology Market Is Estimated To Witness High Growth...

Global RNAi Technology Market Is Estimated To Witness High Growth Owing To Technological Advancements

Posted 2023-09-04 12:45:50

The global RNAi Technology Market is estimated to be valued at US$1,783.5 million in 2021 and is expected to exhibit a CAGR of 10.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
RNA interference (RNAi) technology is a powerful tool used for gene regulation and has gained significant attention in the field of molecular biology. It involves the use of small interfering RNA (siRNmolecules to target and silence specific genes, thereby altering the expression of proteins. This technology has various advantages, such as its specificity, efficiency, and ability to target disease-causing genes. The need for products associated with the RNAi technology market is driven by the increasing incidence of genetic disorders, cancer, infectious diseases, and neurological disorders.

Market Key Trends:
One key trend in the RNAi technology market is the increasing focus on personalized medicine. Personalized medicine aims to customize treatment plans according to an individual's genetic makeup. The use of RNAi technology allows for targeted gene therapy, enabling personalized treatment options. For example, pharmaceutical companies are developing RNAi-based therapies for specific genetic mutations found in diseases like cystic fibrosis and Huntington's disease.

PEST Analysis:
Political: The regulatory landscape plays a crucial role in shaping the RNAi technology market. Government regulations regarding the use of siRNA molecules for therapeutic purposes need to be well-defined and streamlined.

Economic: The economic factors influencing the market include the cost-effectiveness of RNAi technology and the availability of funding for research and development activities in this field.

Social: The social factors impacting the market include the increasing awareness about genetic disorders and the growing acceptance of gene therapy as a viable treatment option.

Technological: Technological advancements in RNAi technology, such as the development of efficient delivery systems and advanced siRNA molecules, are driving market growth.

Key Takeaways:
In terms of market size, the global RNAi technology market is expected to witness high growth, exhibiting a CAGR of 10.1% over the forecast period. This growth can be attributed to the increasing prevalence of genetic disorders and the demand for personalized medicine options.

In terms of regional analysis, North America is expected to dominate the RNAi technology market due to the presence of key players, advanced healthcare infrastructure, and favorable government initiatives supporting gene therapy research.

Key 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. These companies are focusing on research and development activities to develop innovative RNAi-based therapies.

In conclusion, the global RNAi technology market is expected to witness significant growth due to technological advancements, increasing prevalence of genetic disorders, and the demand for personalized medicine. The market is dominated by key players who are actively investing in research and development to bring novel RNAi-based therapies to the market.