The size of the European RNAi Drug Delivery Market is expected to grow at a CAGR of 27.5% and reach USD 38.92 billion in 2027 from USD 11.55 billion in 2022.
The Proliferation of chronic diseases such as cancer, cardiovascular diseases, and carteric dysfunction are majorly driving the RNAi drug delivery market in the European region. Also, the growing geriatric population is considered one of the significant factors contributing to the RNAi drugs delivery as the senior population is susceptible to various chronic disorders. In addition, technological advancements in the medical industry, such as innovative synthetic carriers and bio-vectors, are providing significant opportunities for market growth.
The demand for RNAi drugs has been significantly increasing during the recent period as it also lowers the chances of people experiencing side effects and other issues. Other factors such as the availability of advancements in healthcare infrastructure, increasing healthcare spending, and favourable reimbursement policies are boosting the market growth. The recent global pandemic COVID-19 significantly increased the demand for RNAi drugs. Since they are induced by small interfering RNA (siRNA), which can suppress the production of viral antigens, targeted delivery approaches, such as aptamer drug delivery systems, are gaining momentum for administering antiviral medications.
On the other hand, the RNAi drug delivery market is being propelled forward by governments in developing countries adopting attempts to enhance medicine distribution to all sectors of the population in order to improve health care services. Medical research facilities are also developing RNA medicines regularly. By increasing stability, a rising corpus of academic research and activities promotes the adoption of innovative medicine delivery methods and pharmacological enhancements.
However, inappropriate regulations, a significant risk of failure, a shortage of skilled specialists in drug control laboratories are the factors restraining the market growth. On the other hand, a lack of proper distribution networks of RNAi medication delivery due to weak healthcare infrastructure in some countries is hindering market growth. Delivering RNA molecules accurately is a major problem for companies in the RNAi Drug Delivery Market in Europe.
This research report on the Europe RNAi Drug Delivery market has been segmented and sub-segmented into the following categories.
By Drug Delivery:
By Therapeutic Application:
Globally, Europe held the second-largest share of the global RNAi drug deliver market in 2020, and it is anticipated to account significant share during the forecast period. The regional market growth is projected to be fuelled by the presence of advanced healthcare infrastructure, favorable reimbursement policies, and the presence of key market players. Emerging countries in the region are investing in the development of personalized medicine and identifying altered cellular molecules and metabolites. Scientists are currently working to discover cancer-causing genes and create an RNAi medication to combat them. This method has improved substantially in recent years. The emerging countries such as Germany, the UK, France, Italy, and Spain are expanding the European regional market growth with a significant market share.
Germany accounted for the largest share of the European RNAi drug delivery market in 2020, and it is anticipated to record a prominent share during the forecast period. The market growth is attributed to the increasing prevalence of chronic disease, healthcare expenditure, and technological advancements.
Similarly, the UK is most likely to register a significant portion of RNAi's market share during the forecast period. The growing geriatric population, increasing research in the field of nanotechnology, and growing demand for RNAi drug delivery technologies are propelling the market growth.
On the other hand, emerging countries such as Italy, France, and Spain are projected to showcase a considerable share in the RNAi market during the forecast period. The rising prevalence of chronic diseases, improving life science research infrastructure in these countries, and supportive government policies boost the market growth.
KEY MARKET PLAYERS:
Companies playing a prominent role in the Europe RNAi drug delivery market profiled in this report are Alnylam Pharmaceuticals Inc., Merck & Co. Inc, Dicerna Pharmaceuticals Inc., Tekmira Pharmaceuticals Corp., Access Pharmaceuticals Inc., Sirnaomics Inc., Isis Pharmaceuticals Inc, RXi Pharmaceuticals Corp., Calondo Pharmaceuticals Inc., Quark Pharmaceuticals Inc., Silence Therapeutics plc, Traversa Therapeutics Inc., Marina Biotech Inc., Tacere Therapeutics Inc., and PhaseRx Inc.
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