PUBLISHER: Grand View Research | PRODUCT CODE: 1511803
PUBLISHER: Grand View Research | PRODUCT CODE: 1511803
The global RNAi technology market size is anticipated to reach USD 6.65 billion by 2030 and is growing at a CAGR of 14.6% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growing technological advancements and increasing applications in drug discovery and development are anticipated to increase the demand for RNAi technology over the forecast period.
The COVID-19 pandemic has had a positive impact on the market. The urgency to develop effective treatments and vaccines for COVID-19 led to a surge in funding and investments in RNA-based technologies, including RNAi. Governments, pharmaceutical companies, and biotech firms invested heavily in RNA research, accelerating the development and commercialization of RNAi therapies. This has increased the demand for RNAi technologies during the forecast period.
Moreover, growing government investments in healthcare are anticipated to fuel market growth over the forecast period. The government and relevant bodies are taking efforts to minimize healthcare expenditure on infectious diseases by promoting biopharmaceutical treatments. International healthcare institutions contribute to raising awareness and the discovery of new therapies for various disorders. Increasing external funding for clinical studies to introduce new drug treatments is pivotal for product development. Government-led initiatives to expedite the development of drug delivery platforms for reducing disease burden are driving market expansion.
However, undeveloped countries have a substantial shortage of skilled professionals and research support, profoundly impacting their participation in the dynamic market. The scarcity of a well-trained workforce is exacerbated by educational disparities and a lack of continuous training opportunities. Simultaneously, limited research funding, infrastructure shortcomings, and regulatory complexities impede scientific progress in these regions. This is anticipated to hamper the market's growth over the forecast period.