mRNA Vaccines and Therapeutics Market to Reach US$ 85.9 billion, Garnering a 14.6% CAGR by 2034: Transparency Market Research Inc.

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Jul 22, 2024, 12:45 ET

Besides vaccines, mRNA technology is being explored for therapeutic applications in oncology, infectious diseases, genetic disorders, and other areas. This diversification expands the market potential.

WILMINGTON, Del., July 22, 2024 /PRNewswire/ -- The mRNA vaccines and therapeutics market was projected to attain US$ 19.6 billion in 2023. It is likely to garner a 14.6% CAGR from 2024 to 2034, and by 2034, the market is expected to attain US$ 85.9 billion.

Continuous advancements in mRNA delivery systems, lipid nanoparticle formulations, and manufacturing processes are improving efficacy, safety, and scalability, driving market growth. Initiatives to improve global health and vaccine accessibility, combined with partnerships between governments, NGOs, and pharmaceutical companies, are expanding the reach of mRNA vaccines in developing countries.

Increased public awareness and acceptance of mRNA technology are driving demand for future mRNA-based therapeutics. mRNA technology allows for personalized approaches in medicine, such as tailored cancer vaccines based on individual genetic profiles. This trend towards precision medicine enhances therapeutic efficacy and patient outcomes.

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MRNA Vaccines and Therapeutics Market: Key Players

The competitive landscape of the mRNA vaccines and therapeutics market is dynamic and evolving, characterized by a mix of established pharmaceutical companies, biotechnology firms, and emerging players.

The following companies are well known participants in the mRNA vaccines and therapeutics market:

Moderna Inc.
BioNTech SE.
CureVac SE
Arcturus Therapeutics Inc.
Sanofi
GSK plc
Argos Therapeutics Inc.
Ethris
Pfizer Inc.
AstraZeneca

Key Developments

In 2022, CSL Limited announced that its subsidiary, CSL Seqirus, finalized a global collaboration and license agreement with Arcturus Therapeutics Holdings Inc. This agreement provides CSL Seqirus access to Arcturus Therapeutics' advanced self-amplifying mRNA (sa-mRNA) vaccine platform technology.
In the same year, Moderna, Inc., a biotechnology company at the forefront of messenger RNA (mRNA) therapeutics and vaccines, announced it had received emergency use authorization (EUA) from the U.S. Food and Drug Administration (FDA) for its BA.4/BA.5 Omicron-targeting bivalent COVID-19 booster vaccine, mRNA-1273.222, for children aged six months to five years.

The increasing incidence of chronic diseases like cancer, diabetes, and cardiovascular disorders is driving demand for novel therapeutic approaches, including mRNA-based treatments targeting these conditions. Integration of mRNA technology with other advanced technologies like CRISPR-Cas9 for gene editing or with digital health platforms for real-time monitoring is opening new avenues for therapeutic interventions and patient management.

Investments in scaling up mRNA manufacturing capacity and improving production efficiency are addressing supply chain challenges and meeting global demand for vaccines and therapeutics. Shift towards patient-centric healthcare models, where treatments are tailored to individual patient needs and preferences, aligns with the personalized nature of mRNA therapies, thereby driving market adoption.

mRNA Vaccines and Therapeutics Market Report Scope:

Report Coverage	Details
Forecast Period	2024-2034
Base Year	2020-2022
Size in 2023	US$ 19.6 Bn
Forecast (Value) in 2034	US$ 85.9 Bn
Growth Rate (CAGR)	14.6 %
No. of Pages	153 Pages
Segments covered	By mRNA Type, By Type, By Application, By End-user, By Region

Key Findings of Market Report

Investments in education and training programs for healthcare professionals and researchers on mRNA technology and its applications are fostering expertise and capability building across the industry.
Integration of artificial intelligence (AI) and machine learning (ML) algorithms for data analysis, predictive modeling, and personalized treatment optimization is enhancing the development and deployment of mRNA therapies.
Focus on rare diseases and orphan drug designation for mRNA-based therapies presents niche market opportunities, supported by regulatory incentives and high unmet medical needs in these patient populations.
Exploration of mRNA vaccines' potential for providing long-term immunity and development of booster shots against emerging variants of pathogens like SARS-CoV-2 is driving continuous market demand and innovation.

Market Trends for MRNA Vaccines and Therapeutics

By mRNA type, the nucleoside-modified mRNA segment is expected to boost the growth of the MRNA vaccines and therapeutics market. Nucleoside modifications improve mRNA stability against enzymatic degradation and enhance its translational efficiency within cells. This results in higher protein expression levels, which is crucial for the effectiveness of vaccines and therapeutics.
Modifications such as pseudouridine reduce the innate immune response triggered by mRNA molecules, thereby enhancing safety and reducing adverse reactions in recipients. Nucleoside-modified mRNA technology enables the development of vaccines and therapeutics targeting a wider range of diseases, including infectious diseases, cancer immunotherapy, and genetic disorders. This versatility expands market opportunities.
mRNA vaccines are relatively easier and faster to manufacture compared to traditional vaccines, allowing for rapid scale-up and distribution during outbreaks or pandemics. Growing acceptance and adoption of mRNA technology by pharmaceutical companies, governments, and public health agencies support ongoing research, development, and deployment of prophylactic vaccines.

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Global Market for MRNA Vaccines and Therapeutics: Regional Outlook

North America

North America boasts robust research institutions, biotechnology companies, and academic collaborations that support the advancement of mRNA vaccines and therapeutics. Access to funding and expertise accelerates product development timelines.
Government agencies in North America, such as the NIH (National Institutes of Health) and BARDA (Biomedical Advanced Research and Development Authority), provide substantial funding and regulatory incentives to accelerate mRNA vaccine research, development, and manufacturing.

Asia Pacific

Asia Pacific is becoming a hub for biopharmaceutical manufacturing and research. Local production capabilities and expertise in genetic engineering and biotechnology support the development and scale-up of mRNA-based products.
The region offers diverse patient populations for clinical trials, enabling rapid evaluation of mRNA vaccines and therapeutics across different demographics and disease profiles.

MRNA Vaccines and Therapeutics Market Segmentation

mRNA Type

Nucleoside-modified mRNA
Unmodified mRNA
Self-amplifying mRNA

Type

Prophylactic
Therapeutic

Application

Infectious Diseases
Oncology
Rare Genetic Diseases
Others (Respiratory Diseases, etc.)

End User

Hospitals & Clinics
Biopharmaceutical Companies
Others (Research Organizations, etc.)

Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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