The South & Central America RNAi therapeutics market is expected to reach US$ 38.70 million by 2027 from US$ 21.22 million in 2019. The market is expected to grow at a CAGR of 7.9% from 2020 to 2027. The RNAi therapeutics market in South & Central America is growing primarily due to increasing investments in RNAi therapies, and rising prevalence of infectious diseases and chronic conditions in the region. However, the high cost of RNAi therapeutics restrains the growth of the market. Additionally, a significant number of pipeline candidates for strategic alliances and rise in emphasis on the RNA technologies would fuel the growth of the market during the forecast period.
RNAi refers to the interference RNA, which is responsible for controlling and manipulating protein translation in the cell. These RNAi are used to silence particular genes that are responsible for diseases. The awareness about RNAi is increasing extensively due to its ability to offer a target-specific mechanism, leading to superior treatment outcomes. The approach is widely utilized for drug development. The increasing number of investments in RNAi therapy development coupled with growing prevalence of infectious diseases and chronic conditions drive the market growth.
According to the National Health Survey 2013, in Brazil, deaths caused by chronic diseases accounted for 72% of total reported deaths, out of which cancer caused 16.3%, cardiovascular diseases caused 31.3%, diabetes caused 5.2%, and chronic respiratory disease caused 5.8% deaths. The rising number of deaths caused by such diseases propels the growth of healthcare systems. Brazil's cardiovascular mortality remains high, whereas Suriname and Guyana are the only countries in South America with higher mortality rates. Rising obesity levels and better diagnosis help increase diabetes prevalence among adults, from 3% of Brazilians in 1996 to 5% in 2007. Extensive R&D activities are being conducted by government institutions and academic research centers to discover new drug delivery technologies and deal with the increasing number of patients suffering from infectious diseases (e.g., pneumonia, meningitis, food poisoning, and flu) and chronic conditions (e.g., cancer, diabetes, and cardiovascular conditions).
Furthermore, cancer and diabetes are among the leading causes of mortality. As per Pan American Health Organization (PAHO) and Brazil Health Department reports, as of September 5, 2019, Chikungunya, Dengue, Measles, Yellow Fever, and Zika virus outbreaks continued during 2019. There has been a triggered introduction of vector-borne infectious diseases throughout urban and rural areas due to the increased mobility rates of the population in the last decade. Also, the cases of infectious diseases, especially caused due to bacteria, are growing day by day. RNAi therapies have significant potential to offer effective treatment for such extensively increasing diseases. The rising cases of these diseases accelerate the need for superior treatments, which bolsters the growth of the South & Central America RNAi therapeutics market.
The number of COVID-19 infected cases is surging across South & Central America. Due to the rising incidence of COVID-19 in the region, there is an increase in demand for new therapeutic drugs. Increasing research on RNAi therapy coupled with growing prevalence of COVID-19 would favor the growth of the South & Central America RNAi therapeutics market during the forecast period. The growing efforts by pharmaceutical and biotech companies, and academic institutes to treat COVID-19 is propelling the growth of the market.
In 2019, the small interfering RNAs (siRNA) segment accounted for a larger share of the South & Central America RNAi therapeutics market. Market growth for this segment is attributed to the increasing preference for small interfering RNAs for drug development and growing number of research partnerships. Furthermore, the microRNA (miRNA) segment is expected to register a higher CAGR in the market during the forecast period.
A few of the major secondary sources referred to while preparing this report on the South & Central America RNAi therapeutics market are World Health Organization (WHO), National Health Survey 2013, and Pan American Health Organization (PAHO).