mRNA Vaccines & Therapeutics Market Growth & Trends [2031]
mRNA Vaccines & Therapeutics Market Growth & Trends [2031]
Segments - mRNA (Messenger Ribonucleic Acid) Vaccines & Therapeutics Market by Application (Infectious Diseases, Oncology, Rare Genetic Diseases, Respiratory Diseases, and Others), Type (Prophylactic Vaccines, Therapeutic Drugs, and Therapeutic Vaccines), End-user (Research Organizations, Hospitals & Clinics, and Others), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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Report Description
mRNA (Messenger Ribonucleic Acid) Vaccines & Therapeutics Market Outlook 2031
The global mRNA (messenger ribonucleic acid) vaccines & therapeutics market size was USD 36.55 Billion in 2022 and is likely to reach USD 58.94 Billion by 2031, expanding at a CAGR of 13.4% during 2023–2031. The market is driven by the advancements in the field of medical science.
Increasing prevalence of chronic illnesses and the search for effective treatments is creating a high demand for RNA-based therapies and mRNA (Messenger Ribonucleic Acid) vaccines during the assessment period. mRNA vaccinations are significantly more advantageous over Gene delivery in several aspects, such as dissemination, production, and efficacy. Its potential for the treatment of cancer, rare genetic diseases, and infectious diseases is expected to provide a substantial spur to the market.
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As per the data published by the World Health Organization (WHO), there has been a rapid progression in the research and development activities related to mRNA vaccines since the onset of the COVID-19 pandemic. The authorization and deployment of these vaccines during the pandemic have provided substantial proof of the feasibility and capabilities of these vaccines for human protection.
In terms of safety, production, and distribution, RNA vaccines have a large number of benefits over DNA vaccines. In contrast to DNA-based drugs, mRNA drugs are highly efficient in transfection and have low toxicity owing to the fact that their functionality does not depend on entering the nucleus. In addition, mRNA does not have any potential risk of accidentally infecting the patient or insertional mutagenesis.
The COVID-19 pandemic boosted the market due to the implementation of mRNA-based drugs in the treatment of pandemic infection. The strong defense of these drugs against this disease has led to significant investments in the research and development of mRNA-based vaccines and therapeutics by global pharmaceutical companies. This has resulted in major propulsion for the market, which is projected to continue in the coming years.
Impact of Artificial Intelligence (AI) in mRNA (Messenger Ribonucleic Acid) Vaccines & Therapeutics Market
The use of artificial intelligence is likely to provide substantial propulsion to the mRNA vaccines & therapeutics market. AI plays a crucial role in vaccine development by studying virus proteins like the spike protein to identify the ones most likely to trigger an immune response. AI's ability to analyze vast amounts of data quickly allows researchers to focus on the most promising targets. It can also predict how the virus evolves, helping to design more effective, long-lasting vaccines.
mRNA (Messenger Ribonucleic Acid) Vaccines & Therapeutics Market Dynamics
Major Drivers
Growing prevalence of chronic and infectious diseases is expected to drive the market during the projection period. Despite the high standards of health and sanitation, the pervasiveness of infectious diseases is on the rise. In addition, the increasing occurrence of chronic ailments such as cancer, diabetes, neurological disorders, osteoporosis, and cardiovascular problems has raised the requirement for effective treatments using mRNA vaccines and therapeutics. This is anticipated to propel the demand for such vaccines and treatments during the assessment period.
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As per the online report published by the National Institute of Health in January 2023, around 71.522 million people aged 50 years or older had at least one chronic disease in 2020. By 2050, this number is estimated to surge by 99.5% and reach 142.66 million.
Existing Restraints
High cost of manufacturing mRNA drugs is likely to hamper the market during the forecast period. This increases the final cost of these vaccines, which often makes them inaccessible to underdeveloped or developing economies. Facilitating such drugs to its people causes major financial restrain in these countries. Since these vaccines have great efficacy and safety, making them available at a lower price can help with the growth of the market during the projection period.
Emerging Opportunities
Research in mRNA technology for creating mRNA biomarkers is anticipated to provide substantial growth opportunities for the market. The effectiveness of mRNA-based preventive vaccines in the treatment of infectious and chronic ailments is leading to a large number of pharmaceutical companies as well as government organizations conducting extensive research towards the development of these drugs at a large scale. This can potentially bring down the price of mRNA vaccines, thereby facilitating lucrative conditions for the market to have a major spur.
Scope of the mRNA (Messenger Ribonucleic Acid) Vaccines & Therapeutics Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
mRNA (Messenger Ribonucleic Acid) Vaccines & Therapeutics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016–2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Application (Infectious Diseases, Oncology, Rare Genetic Diseases, Respiratory Diseases, and Others), Type (Prophylactic Vaccines, Therapeutic Drugs, and Therapeutic Vaccines), End-user (Research Organizations, Hospitals & Clinics, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Pfizer Inc.; Moderna, Inc.; Ionis Pharmaceuticals; In-Cell-Art; GSK plc.; eTheRNA; CureVac SE; CRISPR Therapeutics; BioNTech SE.; Arcturus Therapeutics, Inc.; CSL; and Alnylam Pharmaceuticals, Inc. |
mRNA (Messenger Ribonucleic Acid) Vaccines & Therapeutics Market Segment Insights
Application Segment Analysis
Based on application, the mRNA (messenger ribonucleic acid) vaccines & therapeutics market is divided into infectious diseases, oncology, rare genetic diseases, respiratory diseases, and others. The infectious diseases segment is projected to hold the major share of the market during the projection period.
A large number of drug manufacturers are conducting clinical studies based on mRNA vaccines and therapeutics to develop effective treatments for various communicable diseases. With the financial backing from manufacturers as well as the regulatory bodies, the segment is anticipated to have considerable growth during the forecast period.
The oncology segment is projected to register a considerable CAGR during the forecast period due to the rapid increase in the occurrence of various types of cancer, including lung, stomach, rectum, liver, colon, and breast cancers, which are some of the leading causes of death.
Moreover, the lack of proper therapy-based oncology drugs and extensive research being carried out by government-aided and private pharmaceutical companies is likely to play a pivotal role in boosting the market during the projection period.
- As per the data released by the World Health Organization in February 2022, cancer is one of the primary causes of death globally. In 2020, it alone claimed nearly 10 million lives, which equates to approximately one in six instances of deaths.
Type Segment Analysis
On the basis of type, the global market is segregated into prophylactic vaccines, therapeutic drugs, and therapeutic vaccines. The prophylactic vaccines segment is projected to register a high CAGR during the forecast period due to the extensive research and development and mRNA firms producing at least one preventative vaccine. In addition, the high prevalence of infections such as pulmonary syncytial viruses and hepatitis is expected to further contribute to the growth of this segment.
End-user Segment Analysis
Based on end-user, the mRNA (messenger ribonucleic acid) vaccines & therapeutics market is segmented into research organizations, hospitals & clinics, and others. The hospitals & clinics segment is anticipated to register a robust growth rate during the forecast period due to the rising implementation of mRNA-based drugs in a multitude of chronic ailments.
There has been a substantial increment in the number of people suffering from such diseases over the years and the administration of these drugs by trained professionals in hospitals can alleviate the problem or provide relief to the patients. This is likely to provide major propulsion to this segment.
Regional Outlook
In terms of region, the global mRNA (messenger ribonucleic acid) vaccines & therapeutics market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period owing to their advanced medical infrastructure and presence of key plays pioneering in biotechnology.
The availability of advanced research facilities and skilled workforce further supports the market growth. Additionally, strong regulatory frameworks and substantial investments in research and development is anticipated to propel the market in the coming years.
The market in Europe is likely to witness major expansion as a result of rising number of patients suffering from rare genetic diseases. This is leading to a high awareness of such ailments among the common people as well as medical researchers. Moreover, several leading key market players belong to this region that are working on the development of transformational treatments using mRNA vaccines and therapeutics, which is projected to create considerable momentum for the market.
Segments
The mRNA (messenger ribonucleic acid) vaccines & therapeutics market has been segmented on the basis of
Application
- Infectious Diseases
- Oncology
- Rare Genetic Diseases
- Respiratory Diseases
- Others
Type
- Prophylactic Vaccines
- Therapeutic Drugs
- Therapeutic Vaccines
End-user
- Research Organizations
- Hospitals & Clinics
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Pfizer Inc.
- Moderna, Inc.
- Ionis Pharmaceuticals
- In-Cell-Art
- GSK plc.
- eTheRNA
- CureVac SE
- CRISPR Therapeutics
- BioNTech SE.
- Arcturus Therapeutics, Inc.
- CSL
- Alnylam Pharmaceuticals, Inc.
Competitive Landscape
Key players competing in the global mRNA (messenger ribonucleic acid) vaccines & therapeutics market are Pfizer Inc.; Moderna, Inc.; Ionis Pharmaceuticals; In-Cell-Art; GSK plc.; eTheRNA; CureVac SE; CRISPR Therapeutics; BioNTech SE.; Arcturus Therapeutics, Inc.; CSL; and Alnylam Pharmaceuticals, Inc.
These companies adopt development strategies such as product launches, mergers, partnerships, collaboration, acquisitions, and production expansion to expand their consumer base worldwide. These key players heavily invest in the research and development of effective drugs in order to maintain their market relevance and stay ahead of the curve. For instance,
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In January 2023, Arcturus Therapeutics Holdings Inc., one of the prominent companies of clinical messenger RNA medicines, received approval to advance into the first phase of human study for ARCT-032, an inhaled mRNA medicine for the treatment of cystic fibrosis. This is expected to restore the healthy CFTR protein in the lungs of patients suffering from this ailment, including the ones who don’t have any effective treatment options.
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In November 2022, CSL Limited, one of the global leaders in biotechnology, announced a collaboration with Arcturus Therapeutics through CSL Limited’s subsidiary, CSL Seqirus. This is intended to help CSL Limited use Arcturus Therapeutics’ late-stage sa-mRNA vaccine platform technology, which has shown positive results in preventing severe disease and COVID-19 infection with tolerability and safety.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. mRNA Vaccines and Therapeutics Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. mRNA Vaccines and Therapeutics Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. mRNA Vaccines and Therapeutics Market - Supply Chain
4.5. Global mRNA Vaccines and Therapeutics Market Forecast
4.5.1. mRNA Vaccines and Therapeutics Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. mRNA Vaccines and Therapeutics Market Size (000’ Units) and Y-o-Y Growth
4.5.3. mRNA Vaccines and Therapeutics Market Absolute $ Opportunity
5. Global mRNA Vaccines and Therapeutics Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Types
5.3.1. Prophylactic Vaccines
5.3.2. Therapeutic Drugs
5.3.3. Therapeutic Vaccines
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global mRNA Vaccines and Therapeutics Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Applications
6.3.1. Infectious Diseases
6.3.2. Oncology
6.3.3. Rare Genetic Diseases
6.3.4. Respiratory Diseases
6.3.5. Others
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global mRNA Vaccines and Therapeutics Market Analysis and Forecast by End Users
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by End Users
7.2.2. Y-o-Y Growth Projections by End Users
7.3. mRNA Vaccines and Therapeutics Market Size and Volume Forecast by End Users
7.3.1. Research Organizations
7.3.2. Hospitals & Clinics
7.3.3. Others
7.4. Absolute $ Opportunity Assessment by End Users
7.5. Market Attractiveness/Growth Potential Analysis by End Users
8. Global mRNA Vaccines and Therapeutics Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global mRNA Vaccines and Therapeutics Demand Share Forecast, 2019-2026
9. North America mRNA Vaccines and Therapeutics Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Types
9.4.1. Prophylactic Vaccines
9.4.2. Therapeutic Drugs
9.4.3. Therapeutic Vaccines
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. North America mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Applications
9.7.1. Infectious Diseases
9.7.2. Oncology
9.7.3. Rare Genetic Diseases
9.7.4. Respiratory Diseases
9.7.5. Others
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. North America mRNA Vaccines and Therapeutics Market Size and Volume Forecast by End Users
9.10.1. Research Organizations
9.10.2. Hospitals & Clinics
9.10.3. Others
9.11. Basis Point Share (BPS) Analysis by End Users
9.12. Y-o-Y Growth Projections by End Users
9.13. Market Attractiveness/Growth Potential Analysis
9.13.1. By Country
9.13.2. By Product Type
9.13.3. By Application
9.14. North America mRNA Vaccines and Therapeutics Demand Share Forecast, 2019-2026
10. Latin America mRNA Vaccines and Therapeutics Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Types
10.4.1. Prophylactic Vaccines
10.4.2. Therapeutic Drugs
10.4.3. Therapeutic Vaccines
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Latin America mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Applications
10.7.1. Infectious Diseases
10.7.2. Oncology
10.7.3. Rare Genetic Diseases
10.7.4. Respiratory Diseases
10.7.5. Others
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Latin America mRNA Vaccines and Therapeutics Market Size and Volume Forecast by End Users
10.10.1. Research Organizations
10.10.2. Hospitals & Clinics
10.10.3. Others
10.11. Basis Point Share (BPS) Analysis by End Users
10.12. Y-o-Y Growth Projections by End Users
10.13. Market Attractiveness/Growth Potential Analysis
10.13.1. By Country
10.13.2. By Product Type
10.13.3. By Application
10.14. Latin America mRNA Vaccines and Therapeutics Demand Share Forecast, 2019-2026
11. Europe mRNA Vaccines and Therapeutics Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Types
11.4.1. Prophylactic Vaccines
11.4.2. Therapeutic Drugs
11.4.3. Therapeutic Vaccines
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Europe mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Applications
11.7.1. Infectious Diseases
11.7.2. Oncology
11.7.3. Rare Genetic Diseases
11.7.4. Respiratory Diseases
11.7.5. Others
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Europe mRNA Vaccines and Therapeutics Market Size and Volume Forecast by End Users
11.10.1. Research Organizations
11.10.2. Hospitals & Clinics
11.10.3. Others
11.11. Basis Point Share (BPS) Analysis by End Users
11.12. Y-o-Y Growth Projections by End Users
11.13. Market Attractiveness/Growth Potential Analysis
11.13.1. By Country
11.13.2. By Product Type
11.13.3. By Application
11.14. Europe mRNA Vaccines and Therapeutics Demand Share Forecast, 2019-2026
12. Asia Pacific mRNA Vaccines and Therapeutics Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Types
12.4.1. Prophylactic Vaccines
12.4.2. Therapeutic Drugs
12.4.3. Therapeutic Vaccines
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Asia Pacific mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Applications
12.7.1. Infectious Diseases
12.7.2. Oncology
12.7.3. Rare Genetic Diseases
12.7.4. Respiratory Diseases
12.7.5. Others
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Asia Pacific mRNA Vaccines and Therapeutics Market Size and Volume Forecast by End Users
12.10.1. Research Organizations
12.10.2. Hospitals & Clinics
12.10.3. Others
12.11. Basis Point Share (BPS) Analysis by End Users
12.12. Y-o-Y Growth Projections by End Users
12.13. Market Attractiveness/Growth Potential Analysis
12.13.1. By Country
12.13.2. By Product Type
12.13.3. By Application
12.14. Asia Pacific mRNA Vaccines and Therapeutics Demand Share Forecast, 2019-2026
13. Middle East & Africa mRNA Vaccines and Therapeutics Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Middle East & Africa Average Pricing Analysis
13.2. Middle East & Africa mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Types
13.4.1. Prophylactic Vaccines
13.4.2. Therapeutic Drugs
13.4.3. Therapeutic Vaccines
13.5. Basis Point Share (BPS) Analysis by Types
13.6. Y-o-Y Growth Projections by Types
13.7. Middle East & Africa mRNA Vaccines and Therapeutics Market Size and Volume Forecast by Applications
13.7.1. Infectious Diseases
13.7.2. Oncology
13.7.3. Rare Genetic Diseases
13.7.4. Respiratory Diseases
13.7.5. Others
13.8. Basis Point Share (BPS) Analysis by Applications
13.9. Y-o-Y Growth Projections by Applications
13.10. Middle East & Africa mRNA Vaccines and Therapeutics Market Size and Volume Forecast by End Users
13.10.1. Research Organizations
13.10.2. Hospitals & Clinics
13.10.3. Others
13.11. Basis Point Share (BPS) Analysis by End Users
13.12. Y-o-Y Growth Projections by End Users
13.13. Market Attractiveness/Growth Potential Analysis
13.13.1. By Country
13.13.2. By Product Type
13.13.3. By Application
13.14. Middle East & Africa mRNA Vaccines and Therapeutics Demand Share Forecast, 2019-2026
14. Competition Landscape
14.1. Global mRNA Vaccines and Therapeutics Market: Market Share Analysis
14.2. mRNA Vaccines and Therapeutics Distributors and Customers
14.3. mRNA Vaccines and Therapeutics Market: Competitive Dashboard
14.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
14.4.1. Pfizer Inc.
14.4.2. Moderna, Inc.
14.4.3. Ionis Pharmaceuticals
14.4.4. In-Cell-Art
14.4.5. GSK plc.
14.4.6. eTheRNA
14.4.7. CureVac SE
14.4.8. CRISPR Therapeutics
14.4.9. BioNTech SE.
14.4.10. Arcturus Therapeutics, Inc.
14.4.11. CSL
14.4.12. Alnylam Pharmaceuticals, Inc.
Methodology
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