(PharmaNewsWire.Com, August 24, 2024 ) According to the latest research by InsightAce Analytic, the Global Small Interfering RNA (siRNA) Therapeutics Market is valued at US$ 12.73 billion in 2023, and it is expected to reach US$ 48.46 Billion by 2031, with a CAGR of 18.39% during the forecast period of 2024-2031.
Small interfering RNA (siRNA) therapeutics are a type of gene silencing that aims to treat certain diseases by targeting certain genes. Factors that contribute to the expansion of the market include an increasing number of clinical trials, a relatively short pre-clinical development period, increases in government funding for R&D, and a robust healthcare infrastructure. Furthermore, small interfering RNA (siRNA) therapeutics have emerged as noteworthy developments, given that cancer continues to rank among the top causes of mortality worldwide. They are crucial in small interfering RNA (siRNA) therapeutics, which control gene expression and help the market grow.
However, the industry is expected to be hindered by regulatory hurdles related to the approval of therapies and high costs. Also, the market is expected to see a slowdown throughout the projected period due to specific manufacturing and pharmacological challenges related to this (siRNA) therapeutics development. In addition, pharmaceutical companies and research institutes are increasing their spending, which is leading to a rise in innovation and commercialization in the siRNA therapeutics market.
List of Prominent Players in the Small Interfering RNA (siRNA) Therapeutics Market:
GE Healthcare Dharmacon, Inc.
OPKO Health, Inc.
Alnylam Pharmaceuticals
Arrowhead Research Corp
Sanofi Genzyme
Genecon Biotechnologies Co., Ltd.
Arbutus Biopharma Corp
Silence Therapeutics AG
Sylentis S.A.
Olix Pharmaceuticals
GlaxoSmithKline
Isis Pharmaceuticals/ Ionis Pharmaceuticals
BenitecBiopharma Ltd.
Bio-Path Holdings Inc.
Calando Pharmaceuticals
Market Dynamics:
Drivers-
The need for precision medicine to combat the rising tide of genetic abnormalities and viral infections is propelling the small-interfering RNA (siRNA) therapeutics industry. Technological developments in delivery methods, such as systems based on nanoparticles and liposomes, have greatly enhanced the efficacy and stability of siRNA therapies, adding to their therapeutic potential. Environmentally friendly regulatory frameworks and rising funding for biopharmaceutical research are further factors fueling market expansion. Partnerships and cooperation between pharmaceutical businesses, academic institutions, and biotech companies also contribute to innovation. The interest in innovative, focused treatments among patients and the growing need for precise medicine are further factors fueling the siRNA therapeutics industrys rapid expansion.
The small interfering RNA (siRNA) therapeutics market growth is slowing because of the expensive production and development costs. Ensuring the efficient distribution and stability of siRNA molecules within the body is one of the many technical problems that impact the efficacy of therapy. Further, novel siRNA therapeutics incur higher costs and have their market entrance postponed due to the complicated regulatory procedures and long approval delays that are necessary. A major complication of development is the requirement for comprehensive clinical trials to guarantee effectiveness and safety. These factors hinder the significant growth of the siRNA therapeutics industry.
Regional Trends:
The North American small interfering RNA (siRNA) therapeutics market is anticipated to register a very large market share in revenue. It is projected to grow at a high CAGR in the near future due to the increasing number of clinical studies and new product releases in the region. Further factors that could lead to market expansion in the region include an increase in healthcare expenditure, government investment for R&D, and a well-established healthcare infrastructure. Besides, APAC had a substantial share in the market because of rapid urbanization, enhanced healthcare facilities, abundant discretionary income, supportive regulations for government funding, and increasing public knowledge of the variety of therapists who can treat illnesses such as cancer, heart disease, and others, as a result of the dramatic rise in small interfering RNA (siRNA) therapeutics market in this region.
Recent Developments:
In April 2024, Wave Life Sciences reported ongoing progress in their partnership with GSK and achieved notable breakthroughs in siRNA and RNA editing. Wave partnered with GSK and identified its initial two programs for further development after successfully validating their targets. These applications utilized Wave's advanced GalNAc-siRNA format, which is the next generation in the field of hepatology.
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
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