The global mRNA vaccines and therapeutics market size was evaluated at USD 1,241.64 million by 2023 and is projected to gain around USD 18,936.64 million by 2033 with a CAGR of 31.32% between 2024 and 2033.
Key Points
- North America dominated the mRNA vaccines and therapeutics market in 2023.
- Asia Pacific is estimated to be the fastest growing during the forecast period of 2024-2033.
- By disease type, the hereditary transthyretin-mediated amyloidosis genetic segment dominated the market in 2023.
- By disease type, the acute hepatic porphyria segment is the fastest growing during the forecast period.
- By route of administration type, the IV infusion segment dominated the market in 2023.
- By route of administration type, the subcutaneous segment is the fastest growing during the forecast period.
- By end-user type, the hospitals and clinics segment dominated the in 2023 and is also expected to be the fastest growing during the forecast period.
Market Overview
The mRNA vaccines and therapeutics market has experienced significant growth in recent years, driven by advancements in biotechnology and increasing adoption of mRNA-based technologies in healthcare. mRNA (messenger RNA) vaccines have gained prominence due to their role in providing rapid and targeted immune responses against infectious diseases, including COVID-19. Moreover, mRNA therapeutics hold promise for treating various chronic diseases by leveraging the body’s cellular machinery to produce therapeutic proteins.
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Growth Factors
Several factors contribute to the growth of the mRNA vaccines and therapeutics market. Key among these is the ability of mRNA technology to enable rapid vaccine development in response to emerging infectious diseases. The success of COVID-19 vaccines such as Pfizer-BioNTech and Moderna has demonstrated the efficacy and potential of mRNA platforms. Additionally, increasing investments by pharmaceutical companies and government initiatives to support mRNA research and development further propel market expansion. Advances in lipid nanoparticle delivery systems have also enhanced the stability and efficacy of mRNA therapeutics, widening their therapeutic applications.
mRNA Vaccines and Therapeutics Market Scope
| Report Coverage | Details |
| Market Size in 2023 | USD 1,241.64 Million |
| Market Size in 2024 | USD 1,630.52 Million |
| Market Size by 2033 | USD 18,936.64 Million |
| Market Growth Rate from 2024 to 2033 | CAGR of 31.32% |
| Largest Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | Disease Type, Route of Administration, End-user Type, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Market Dynamics
Drivers
Key drivers of the mRNA vaccines and therapeutics market include the urgent need for effective vaccines against infectious diseases, technological advancements enhancing mRNA stability and delivery, and growing partnerships between biopharmaceutical companies and research institutions. Moreover, the potential for mRNA therapeutics to address previously untreatable diseases such as certain cancers and genetic disorders fuels market expansion. Favorable regulatory approvals and increasing manufacturing capacities further support market growth.
Opportunities
Opportunities in the mRNA vaccines and therapeutics market abound, particularly in expanding applications beyond infectious diseases to include cancer immunotherapy, cardiovascular diseases, and rare genetic disorders. Continued research into improving mRNA delivery systems and reducing production costs presents avenues for innovation and market penetration. Furthermore, collaborations between pharmaceutical giants and biotech startups facilitate the development of novel mRNA-based therapies and vaccines.
Challenges
Despite rapid growth, the mRNA vaccines and therapeutics market faces several challenges. These include technological hurdles related to mRNA stability, immunogenicity concerns, and scaling up manufacturing processes to meet global demand. Regulatory complexities, especially concerning novel vaccine platforms, also pose challenges to market expansion. Additionally, public skepticism and vaccine hesitancy underscore the importance of comprehensive communication strategies to build trust and acceptance of mRNA-based vaccines and therapies.
Region Insights
North America dominates the mRNA vaccines and therapeutics market, attributed to a strong biotechnology sector, substantial investments in research and development, and supportive regulatory frameworks. Europe follows closely, driven by robust healthcare infrastructure and collaborations between academic institutions and biotech firms. Asia-Pacific shows significant growth potential, fueled by increasing healthcare expenditure, rising awareness of personalized medicine, and expanding clinical trials in countries like China and Japan.
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mRNA Vaccines and Therapeutics Market Companies
- Kernal Biologics Inc
- Sanofi
- Argos Therapeutics Inc
- Charoen Pokphand Group
- AIM Vaccine Corporation
- CureVac SE
- Ethris GmbH
- Bohringer Ingelheim International GmbH
- Arcturus
- Daiichi Sankyo
- GSK Plc.
- Gennova Biopharmaceuticals Limited
- Moderna, Inc.
- BioNTech SE
- Pfizer Inc.
Recent Developments
- In May 2022, the first-in-Africa clinical trial of the mRNA HIV vaccine development program was launched by the non-profit scientific research organization, IAVI and a biotechnology company pioneering mRNA vaccines and therapeutics, Moderna, Inc. This is for immunogenicity, safety, and to strengthen regional scientific capacity.
- In March 2024, the Dr, Jeffrey S. Weber and the team at NYU Langone Health’s Perlmutter Cancer Center and other cancer centers around the world, clinical trial tests personalized to the mRNA vaccine for the treatment of metastatic melanoma.
- In April 2024, a biopharmaceutical company driven by immunology in the pursuit of powerful prevention and treatment of diseases, VBI Vaccines Inc., announced that expanded collaboration with the Government of Canada to advance mRNA-launched enveloped virus-like particle (eVLP) vaccine platform.
- In May 2024, a personalized mRNA cancer vaccine trial developed by Genentech and BioNTech for patients and launched by NHS.
Segments Covered in the Report
By Disease Type
- Hereditary Transthyretin-mediated Amyloidosis Genetic
- Acute Hepatic Porphyria
- Primary Hyperoxaluria Type 1
- Atherosclerotic Cardiovascular Disease
By Route of Administration
- IV Infusion
- Subcutaneous
By End-user Type
- Research Institutes
- Hospitals and Clinics
By Geography
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East & Africa
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