The size of the North America RNAi Drug Delivery Market was estimated to be USD 14.73 billion in 2022 and is predicted to reach USD 52.63 billion by 2027, with a CAGR of 29%.
The rise in chronic diseases such as cancer and carter dysfunction has resulted in a steady increase in demand for RNAi drugs in North America. Also, the rising geriatric population, changing lifestyles, and rising prevalence of cardiovascular diseases are further boosting the market growth. In addition, other factors such as growing awareness among the people in emerging countries such as the United States, increasing disposable income, and infrastructure developments contribute to market growth.
The geriatric population is significantly influencing the RNAi market growth. As the senior population is mostly associated with various chronic disorders, which increases the demand for the RNAi market. The medical research institutions across the region are working towards producing advanced RNA treatments, which is expected to boost market growth. In addition, market players and private organizations are investing in academic research and activities that stimulate the use of innovative drug delivery systems and pharmacological enhancements by boosting stability. Therefore, research in the field of RNA Therapeutics has aided the growth RNA drug delivery market.
The emerging countries in the region, such as the United States and Canada, are initiating various policies to provide advanced healthcare facilities to the growing population in order to improve healthcare services which is expected to fuel the RNAi drug delivery market. Moreover, the adoption of technological advancements such as innovative synthetic barriers and bio-vectors are expected to provide lucrative growth opportunities to the market.
However, high investments and stringent government regulations are the primary factors hindering market growth. In addition, increased risk of failure, lack of proper distribution networks of RNAi drug delivery, and high cost associated with R&D activities impede the market growth.
This research report on the North America RNAi Drug Delivery market has been segmented and sub-segmented into the following categories.
By Drug Delivery:
By Therapeutic Application:
Geographically, North America dominated the global RNAi drug delivery market in 2020 and it is anticipated to record a predominant share in the coming years. The regional market growth is attributed to the availability of advanced healthcare infrastructure, significant investments, and favorable reimbursement policies. In addition, the governments in developing nations are making attempts to increase medication distribution to all parts of the population to improve health care services, boosting the market for RNAi drug delivery.
The United States accounted for the largest share of the RNAi drug delivery market, and it is projected to witness a prominent share during the forecast period. The market is driven by the increasing prevalence of chronic diseases, growing healthcare expenditure, and technological advancement in the healthcare sector. Currently, scientists are working to identify the genes that cause cancer and develop an RNAi drug to combat them. For a few years, this approach has been quickly evolving.
On the other hand, Canada is projected to showcase a promising share in the RNAi market in the coming years. Improving healthcare infrastructure, supportive government policies, and increasing the application of RNAi in molecular diagnosis and its viability as a therapeutic technique are propelling the market growth.
KEY MARKET PLAYERS:
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. are a few of the leading companies in the North American RNAi drug delivery market.
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