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 [https://www.transparencymarketresearch.com/mrna-vaccines-and-therapeutics-market.html] 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.
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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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