USD 40.80 Billion
mRNA Therapeutics Market Size, Share, Growth Analysis, By Type(Prophylactic Vaccines, Therapeutic Vaccines, Therapeutic Drugs), By Application(Rare Genetic Diseases, Oncology, Respiratory Diseases, Infectious Diseases), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2547 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
65
|Figures:
75
mRNA Therapeutics Market Insights
Global mRNA Therapeutics Market size was valued at USD 40.80 Billion in 2022 and is poised to grow from USD 41.62 Billion in 2023 to USD 48.76 Billion by 2031, at a CAGR of 2% during the forecast period (2024-2031).
Recently, mRNA-based therapeutics have gained traction as the potential answer to effectively treating chronic conditions. This has fed the guaranteed and consistent growth of the market. mRNA vaccines are favored over DNA vaccines in recent times. These advantages are underscored during production and distribution, offering a safer alternative. mRNA vaccines and therapeutics have also withstood human clinical trials and come out successful. This has also driven the demand for these products.
Moderna and Pfizer-BioNTech have largely contributed to the market during the COVID-19 pandemic. Their vaccines in response to the global health crisis fueled substantial market growth. These therapeutics are also being heavily used in oncology clinical trials. In 2021, mRNA vaccine trials for cancer patients scored a great number of volunteers, coming in at the second-highest. This, though, was excluding COVID-19 trials in cancer patients. Industry growth has reached new heights since then.
New versions of the SARS-CoV-2 virus have started to crop up around the world. The need for effective vaccines has turned medical professionals to mRNA vaccines. The COVID-19 pandemic accelerated the usage of mRNA-based products, fueling further market expansion.
Messenger-RNA is an emerging therapeutic tool. This has come into light due to technological advancements that enhance translation and stability, along with delivery techniques. The pharmacological industry has also seen the potential for expansion through mRNA vaccines, increasing the potential for growth in the market.
mRNA vaccines are the next step in vaccine development. They will bring forth a new era in immunization. This can be portrayed with a fine example. Moderna Inc. and the National Institute of Allergy and Infectious Diseases joined hands in March 2020 to create mRNA-1273 (NIAID). This vaccine showed a 94.1% rate of efficacy in the prevention of symptomatic COVID-19. The US FDA granted it speedy approval and registered it for emergency use in December 2020.
In addition, the rapidly expanding field of mRNA therapeutics is poised to revolutionize personalized medicine. It will remodel the traditional standards of healthcare , which will raise the demand for mRNA-based products in the near future.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Infectious Diseases
Fastest Growth
Oncology
Growth Rate
2% CAGR
Global mRNA Therapeutics Market ($ Bn)
Country Share for North America Region (%)
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mRNA Therapeutics Market Segmental Analysis
The global mRNA therapeutics market is segmented on the basis of type, application, region. By type, the market is segmented into prophylactic vaccines, therapeutic vaccines, therapeutic drugs. By application, the market is segmented into rare genetic diseases, oncology, respiratory diseases, infectious diseases, others. By end–use, the market is segmented into hospitals & clinics, research organizations, others. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Analysis By Application
By application type, there is one market segment that brought in 100% of the revenue in the market in 2022. This category is infectious disease. Infectious diseases have held dominance over the market for a long time and there are a number of reasons supporting its supremacy. The rising integration of mRNA in vaccines has cemented this segment’s position. Other factors responsible are the wide impact of the COVID-19 pandemic and an increase in the number of volunteers opting for clinical trials targeting different infectious diseases. All of this has sustained its growth in the market with the potential to grow further.
Infectious disease may lead the market, but the oncology segment is quickly gaining ground. According to WHO, cancer killed nearly 10 million in 2020. The oncology illness is the no.1 cause for mortality globally. This fact has driven the importance of effective medications against cancer. The prevalent forms of this disease are breast, colon, rectum, lug, stomach, and liver. These are the most fatal variants of the disease and also the most common. The rising incidence of this segment’s illness has boosted the need for mRNA-based cancer vaccines and therapies. This is a potentially great step in continued market expansion.
Analysis By Type
Prophylactic vaccines have remained at the top of the market for a while. In 2022, it held an impressive 100% share of the market's revenue. This explains its constant dominance over the mRNA therapeutics market. There are constant R&D efforts furthering this segment’s expansion. At least 77% of mRNA-based businesses are currently working on one preventive vaccine, stabilizing this segment’s position. Prophylactic vaccines have gained this vast revenue figure in the COVID-19 pandemic, supplying many products during the global crisis. Other vaccines that treat conditions like RSV (respiratory syncytial virus) and influenza have also used these vaccines, contributing to this segment’s supremacy.
Global mRNA Therapeutics Market By Application
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mRNA Therapeutics Market Regional Insights
North America asserted its dominance in the market, holding a substantial share of over 35.0%, and is poised to emerge as the fastest-growing region in the forecast period. This ascendancy can be attributed to several key factors, including the availability of significant research funding, the expansion of federal programs dedicated to advancing RNA-based medicines, and a burgeoning number of clinical trials. A case in point is the robust support provided by institutions such as The National Institutes of Health (NIH), the Defense Department, and federally funded academic laboratories. Their unwavering backing for foundational research, including that conducted by Graham and other researchers, has played a pivotal role in the rapid development of COVID-19 vaccines. Notably, in response to the pandemic, the government injected an additional $10.5 billion into vaccine manufacturers, expediting the delivery of their products. These factors collectively underscore North America's position as a thriving hub for mRNA-based medicines and therapeutics.
Europe, on the other hand, secured the second-largest revenue share, propelled by a growing patient population and heightened awareness regarding rare genetic diseases. Additionally, Europe benefits from the presence of major industry players and a burgeoning demand for mRNA vaccines and therapeutics. As part of an expansion effort aimed at enabling the local delivery of mRNA vaccines and therapies, Moderna is extending its presence across several European countries, including Denmark, Belgium, the Netherlands, Poland, Norway, and Sweden. This strategic move is expected to substantially bolster the demand for mRNA vaccines and further fuel market growth in the region during the forecast period. Europe's evolving landscape, characterized by a blend of established industry giants and transformative treatment needs, positions it as a pivotal player in the global mRNA-based medicine arena.
Global mRNA Therapeutics Market By Region
- Largest
- Fastest
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mRNA Therapeutics Market Dynamics
Drivers
COVID-19 Pandemic
- The COVID-19 pandemic accelerated mRNA vaccine development, establishing mRNA technology as a powerful tool in combating infectious diseases.
Growing Investment and Funding
- Increased investments from both public and private sectors, including government agencies and venture capital firms, are driving R&D efforts in mRNA therapies.
Expanding Clinical Trials
- A surge in clinical trials for various diseases, including cancer, rare genetic disorders, and infectious diseases, is propelling the market forward.
Restraints
Production and Supply Chain Challenges
- The global market for mRNA therapeutics was dogged by a number of challenges, especially in the production and distribution process. Upscaling the production capacity of mRNA production while maintaining a stable supply chain proved quite difficult, especially during a global health pandemic.
Safety Concerns
- There is a lot of room for error in mRNA therapeutics. They require massive efforts in testing, experimenting, and analysis. Thai is because they may be affected by immune responses or might have off-target effects. This can prove to be a safety concern in the future, disrupting market growth.
Competition from Other Therapies
- The mRNA therapeutics market is faced with some competition in evolving times. Emerging technologies and pre-established treatments that warrant similar benefits without the necessary side effects to patient safety pose a threat to market growth.
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mRNA Therapeutics Market Competitive Landscape
The competitive environment of the global mRNA therapeutics market is made up of several key players. There is a mix of renowned pharmaceutical companies and rising biotech startups, along with innovative research institutes. Some industry leaders in this market are Pfizer, Moderna, CureVac, Translate Bio, BioNTech, and Arcturus Therapeutics.
Moderna and Pfizer collaborated frequently with BioNTech during the COVID-19 pandemic. They developed pioneer mRNA COVID-19 vaccines, helping fight the virus globally. This development has steeled their place at the top of the market. The market’s top dogs use their extensive expertise of the mRNA technology, along with their huge production capacity, to maintain their share of the market.
Top Player’s Company Profiles
- CureVac AG (Germany)
- Roche Holding AG (Switzerland)
- Pfizer Inc. (USA)
- GlaxoSmithKline plc (United Kingdom)
- Moderna, Inc. (USA)
- Sanofi SA (France)
- BioNTech SE (Germany)
- Dynavax Technologies Corporation (USA)
- Arcturus Therapeutics Holdings Inc. (USA)
- AstraZeneca plc (United Kingdom)
- Regeneron Pharmaceuticals, Inc. (USA)
- Alnylam Pharmaceuticals, Inc. (USA)
- Gilead Sciences, Inc. (USA)
- Mylan N.V. (USA)
- Novartis AG (Switzerland)
- Modulus Therapeutics, Inc. (USA)
- Catalent, Inc. (USA)
- Translate Bio, Inc. (USA)
- Ionis Pharmaceuticals, Inc. (USA)
- Vertex Pharmaceuticals Incorporated (USA)
Recent Developments
- Monkeypox may be rare, but it is a serious contagious disease that can be transferred from animals to humans. BioNTech and Pfizer developed a vaccine against the illness, the mRNA-BNTX162b2 vaccine. They turned in an IND (Investigational New Drug) application in April 2023 to the FDA for testing and approval.
- Moderna got the FDA’s greenlight for its mRNA-1273 vaccine in June 2023. At the same time, Pfizer was also granted approval for their BNT162b2 vaccine. These vaccines were designed against COVID-19 for children aged from six months to five years old
- Moderna gave the FDA an IND application in March 2023. This was in regard to their mRNA-1273 vaccine against respiratory syncytial virus (RSV). This vaccine has helped reduce the possibility of respiratory tract infection occurrence in young children and infants.
- CureVac turned in an IND application to the US Food and Drug Administration in May 2023. This was regarding their CV7201 vaccine against COVID-19. This disease is branched from the SARS-CoV-2 virus.
mRNA Therapeutics Key Market Trends
- mRNA Cancer Vaccines: This market has seen a growing and impactful trend. Cancer vaccines are being developed with the help of mRNA. This presents an impressive opportunity for breakthrough in oncology treatment and therapy.
- Partnerships and Collaborations: Another market trend has gripped the market and related industries. There is a significant advancement in mRNA product development and rise in field expertise. This is because of the growing collaborations and mergers between various global pharmaceutical companies.
- Orphan Diseases: The market has also seen the growth of a notable trend. The therapeutics that are offered by this market can even help in the treatment of rare diseases. This is because the market product can potentially heal and address medical needs which have gone untreated. As a result, mRNA therapies are garnering more attention from medical professionals and patients.
mRNA Therapeutics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global mRNA therapeutics market has expanded due to continued innovation in the medical field. It has even given a hand in said advancements. It has achieved that with the potential of mRNA-based treatments to transform the way medicine works. The COVID-19 pandemic was a turning point for the market. The deployment of effective mRNA vaccines during that time highlighted its importance in infectious disease control.
The mRNA therapeutics landscape is changing and evolving quickly. The market can now help in the treatment of rare genetic diseases, oncology, and a number of autoimmune conditions. The healthcare sector will be disrupted by this move towards customized and specialized medication. The industry will be able to provide customized treatments, tailored to the varying genetic profiles among different patients.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 40.80 Billion |
| Market size value in 2031 | USD 48.76 Billion |
| Growth Rate | 2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on mRNA Therapeutics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on mRNA Therapeutics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the mRNA Therapeutics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the mRNA Therapeutics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the mRNA Therapeutics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the mRNA Therapeutics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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