The second leading cause of deaths across the world, cancer, caused 9.6 million deaths in the year 2018. That means one every six deaths are accounted for by the diseases. Here, it is worth noting that a large chunk of cancer deaths occurs in countries that fall in the middle and low income bracket.
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A major factor that leads to cancer is poor diet and lifestyle. For instance, use of tobacco is the reason behind 22% death that are caused by cancer. Others include low fruit and vegetable intake, high body mass index, alcohol use, and low levels of exercise.
It is one of the key application areas for RNAi technology and with an increase in incidence will support the growth of the market significantly. Besides, other factors such as increase in incidence of ophthalmic and genetic diseases will also contribute positively to demand for RNAi technology.
Thus, it does not come as a surprise that as per TMR Research, the Compound Annual Growth Rate (CAGR) of global RNAi technology market would be robust and would lead to a slew of new opportunities arising in the market landscape over the forecast period of 2019 to 2029. The market players that flank the global RNAi technology market landscape will leave no stone unturned in order to tap the last benefit that can be accrued from these.
Geriatrics to Pave Way for Impressive Growth Statistics over the Forecast Period
One of the demographics that is prone to a number of ophthalmic and infectious diseases is the aged population and this is exactly the world I set to witness a spurt of. As per recent studies, by 2050, the number of people aged 65 and above would be one in every six people. And, number of people falling in their sixties or above will be 2 billion. This is a massive increase and will contribute to growth of global RNAi technology market over the forecast period. It is also worth noting here that ageing in terms of population is pronounced in North America and Europe. And, here, the number of people in the first age bracket mentioned here would be one in every four.
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Regional Growth to be Dominated by North America over the Forecast Period
Owing to high technological adoption, high awareness levels, rapidly ageing population, robust healthcare infrastructure, and enviable reimbursement framework, the North America region will dominate the global RNAi technology market. Besides, ongoing research and development in the field is quite impressive, credit the presence of some of the most prominent companies that operate in the global RNAi technology market. Countries leading the regional market would be Canada, and the United States of America.
The Slightly Fragmented Vendor Landscape to Mark Global RNAi Technology Market
Some of the players that keep the global RNAi technology market buoyant with their impressive strategies and pro-activeness are Mckesson Corporation, Ecolab, ANSELL Ltd, Cardinal Health, Medline Industries, Inc, Advance Medical Designs, Inc. Little Rapids Corporation, GRI-Alleset and Aligned Medical Solutions. It is also worth noting here that the presence of a decent number of market players in the playfield makes the vendor landscape quite fragmented and since technology and outcomes determine growth, Research and Development is cutting edge in the market landscape.
Other strategies that the market players in global RNAi technology market do not shy away from are alliances that are strategic such mergers and acquisitions for combining knowledge and monetary resources, or entering a market better, and partnerships and collaborations where synergies lead to growth in future. Additionally, these are also deployed in order to ensure a better market share is bagged.
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