Market Size –
The mRNA therapeutics market size has grown steadily in recent years. It will grow from $33.50 billion in 2023 to $34.76 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. The growth in the historic period can be attributed to increasing financial support for the creation of efficient pharmaceuticals and vaccines, the expansion of federal programs dedicated to advancing RNA-based medicines heightened awareness regarding rare genetic diseases, and a rise in the number of clinical trials.
The mRNA therapeutics market size is expected to see steady growth in the next few years. It will grow to $40.69 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to the growing number of infectious diseases, the increasing number of patients visiting hospitals and clinics, expanding applications of mRNA therapeutics, growing demand for personalized and precision medicine, favorable regulatory environments, and accelerated approval pathways. Major trends in the forecast period include advancements in mRNA delivery technologies, rapid development and adaptation of mRNA vaccines, the emergence of self-amplifying mRNA (saRNA) platforms, the scalability and flexibility of mRNA manufacturing, and the development of novel mRNA modifications.
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Scope Of mRNA Therapeutics Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
mRNA Therapeutics Market Overview
Market Drivers –
The increased prevalence of long-lasting and communicable diseases is expected to propel the growth of the mRNA therapeutics market going forward. Long-lasting and communicable diseases are illnesses that persist for extended periods and can be transmitted between individuals, such as tuberculosis, HIV/AIDS, and hepatitis. The prevalence of long-lasting and communicable diseases is increasing due to increased global travel and inadequate healthcare infrastructure, which facilitate the spread and hinder the effective management of these illnesses. mRNA therapeutics are useful for long-lasting and communicable diseases by rapidly enabling the body to produce proteins that boost immune responses, leading to quicker development of vaccines and treatments. For instance, in October 2023, according to GOV.UK, a UK-based government website, in 2022, there were 94,397 people in England living with diagnosed HIV and receiving care, a 3% increase from the 91,368 individuals in 2021. Therefore, the increased prevalence of long-lasting and communicable diseases is driving the growth of the mRNA therapeutics market.
Market Trends –
Major companies operating in the mRNA therapeutics market are focusing on developing innovative solutions, such as mRNA-based booster vaccines, to enhance immunity against evolving viral variants. An mRNA-based booster vaccine refers to a vaccine that uses messenger RNA (mRNA) technology to enhance and prolong immunity against a specific pathogen, often after the initial vaccination series. For instance, in June 2023, Gennova Biopharmaceuticals Ltd., an India-based pharmaceutical company, launched India’s first indigenous mRNA-based Omicron-specific booster vaccine called GEMCOVAC-OM to provide a variant-specific vaccine that can elicit desired immune responses against the Omicron variant of SARS-CoV-2. GEMCOVAC-OM is thermostable, does not require ultra-cold chain infrastructure, and can be administered without a needle injection using a needle-free device system, making it easy for last-mile deployment in India. In clinical studies, the vaccine generated significantly higher immune responses compared to other vaccines, demonstrating the need for variant-specific vaccines to elicit desired immune responses.
The mRNA therapeutics market covered in this report is segmented –
1) By Product: Vaccines, Drugs
2) By Application: Infectious Diseases, Oncology, Rare Genetic Diseases, Respiratory Diseases, Other Applications
3) By End Use: Hospitals And Clinics, Research Organizations, Other End Uses
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Regional Insights –
North America was the largest region in the mRNA therapeutics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mRNA therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the mRNA therapeutics market are Pfizer Inc., Novartis AG, Sanofi AG, AstraZeneca plc, GlaxoSmithKline plc, Hoffmann-La Roche AG, Moderna Therapeutics Inc, BioNTech SE, Vertex Pharmaceuticals Incorporated, Catalent Inc, Alnylam Pharmaceuticals Inc, Sarepta Therapeutics Inc, Arcturus Therapeutics Holdings Inc, CureVac N.V, Ethris GMBH, eTheRNA immunotherapies NV, In-Cell-Art S.A.S., Nutcracker Therapeutics Inc, SCM LifeScience Co Ltd, Suzhou Abogen Biosciences Co Ltd, Tiba Biotech LLC, CSPC Pharmaceutical Group, CRISPR Therapeutics AG
Table of Contents
1. Executive Summary
2. mRNA Therapeutics Market Report Structure
3. mRNA Therapeutics Market Trends And Strategies
4. mRNA Therapeutics Market – Macro Economic Scenario
5. mRNA Therapeutics Market Size And Growth
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27. mRNA Therapeutics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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