The latest report by IMARC Group, titled “ mRNA Vaccines and Therapeutics Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028 “, offers a comprehensive analysis of the industry, which comprises insights on the global mRNA vaccines and therapeutics share . The global market size reached US$ 56.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 66.2 Billion by 2028, exhibiting a growth rate (CAGR) of 2.9% during 2023-2028.
mRNA (messenger RNA) vaccines and therapeutics are a revolutionary class of medical products that utilize the genetic material of mRNA to prevent or treat diseases. mRNA is a molecule that carries the instructions from DNA to the protein-making machinery in our cells. mRNA vaccines and therapeutics use this natural process to provide targeted instructions to our cells, guiding them to produce specific proteins that trigger an immune response or have therapeutic effects. mRNA vaccines, such as the ones developed for COVID-19, work by introducing a small piece of mRNA into the body. mRNA-based therapeutics aim to treat diseases by delivering mRNA molecules that encode specific proteins into target cells. These proteins can have a wide range of therapeutic effects, including stimulating the immune system to fight cancer cells, producing missing proteins in genetic disorders, or creating proteins that target specific disease pathways. They can be developed and manufactured more rapidly, making them adaptable to emerging pathogens or evolving diseases. Additionally, mRNA-based products are highly precise and customizable, enabling a targeted and tailored approach to disease prevention and treatment. Currently, mRNA vaccines and therapeutics are gaining immense traction across the globe as it aids in boosting the immunity of the body by improving B- and T-cell responses.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/mrna-vaccines-therapeutics-market/requestsample
mRNA Vaccines and Therapeutics Market Trends and Drivers:
The global mRNA vaccines and therapeutics market is primarily driven by the rapid development and deployment of mRNA-based vaccines such as the Pfizer-BioNTech and Moderna vaccines due to the rising need for effective medicines amid the Covid-19 pandemic. Moreover, mRNA therapeutics help treat various diseases, including cancer, genetic disorders, and rare diseases. In line with this, the development of personalized and targeted therapies using mRNa by pharmaceutical companies and investors is positively influencing market growth. Apart from this, numerous advancements in mRNA manufacturing processes and technologies that improve scalability, stability, and cost-effectiveness, making mRNA-based products more commercially viable, have catalyzed market growth. Additionally, heightening investments in research and development (R&D) activities and collaborations between pharmaceutical companies and academic institutions is propelling market growth. Besides this, the increasing acceptance and adoption of mRNA technology by regulatory authorities and healthcare professionals is another major growth-inducing factor. Furthermore, the rising prevalence of medical ailments, such as cancer, diabetes, tuberculosis, and cardiovascular diseases (CVDs), is contributing to the market growth. Other factors, including extensive research and development (R&D) activities in the biotechnology field, improvements in healthcare technologies, emerging potential of mRNA technology in treating various diseases, and advancements in manufacturing processes, are also anticipated to drive the market further.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Vaccine Type:
- Self-amplifying mRNA-Based Vaccines
- Conventional Non-Amplifying mRNA-Based Vaccines
Breakup by Treatment Type:
- Bioengineered Vaccine
- Gene Therapy
- Gene Transcription
- Cell Therapy
- Monoclonal Antibody
- Others
Breakup by Vaccine Manufacturing:
- In-House
- Out-Sourced
Breakup by Application:
- Cancer
- Infectious Disease
- Gene Editing
- Protein Replacement
Breakup by End-User:
- Hospitals and Clinics
- Research Organizations
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Arcturus Therapeutics Inc.
- BioNTech SE
- CureVac AG
- eTheRNA immunotherapies NV
- ethris GmbH
- GlaxoSmithKline PLC
- Moderna Therapeutics Inc.
- Translate Bio Inc.
- Argos Therapeutics, Inc.
- Sangamo Therapeutics Inc.
- Pfizer Inc.
Recent Developments:
- In January 2023, Arcturus Therapeutics Inc. stated that the clinical trial proposal for the cystic fibrosis drug arct-032 gained clearance to move forward with first-in-human research.
- In October 2022, Moderna Therapeutics Inc. revealed that it has acquired an emergency use authorization (EUA) from the US Food and Drug Administration (FDA) for its bivalent COVID-19 booster vaccine, mRNA-1273.222, which targets the BA.4/ BA.5 omicron in children and adolescents between the ages of 6 and 17.
- In June 2022, CureVac AG announced the purchase of private business Frame Cancer Therapeutics (Frame), a leader in sophisticated genomics and bioinformatics.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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