USD 26.35 Billion Growth in mRNA Vaccines & Therapeutics Market Size - Industry Analysis, Market Trends, Market Growth, Opportunities

NEW YORK, May 3, 2023 /PRNewswire/ -- As per Facts and Factors study, the global messenger RNA (mRNA) vaccines & therapeutics market size was worth around USD 0.71 billion in 2021 and is predicted to grow to around USD 26.35 billion by 2030 with a compound annual growth rate (CAGR) of roughly 14.65% between 2022 and 2030.

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Messenger RNA (mRNA) Vaccines & Therapeutics Market: Overview

Messenger RNA (mRNA) is a single-strand ribonucleic acid (RNA) that is used for protein synthesis. It is made from the template of deoxyribonucleic acid (DNA) during the transcription process. The main function of mRNA is to carry protein originating from the DNA in the nucleus of the cell to its cytoplasm or the watery interior. Here the protein-making system reads the mRNA sequence and translates the codon with three bases to the corresponding amino acid which is used to construct the growing protein chain.

The mRNA technology is becoming extremely popular in the medical community which has seen higher interest from the public after Covid-19. mRNA-based vaccines and therapeutics use the main function of mRNA, which is acting as the carrier of protein information, to prompt the body to make certain specific types of protein. For instance, during Covid-19, the mRNA-induced vaccines instructed the human cells to increase the rate of protein that was located on the exterior of the Covid-19 virus.

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Key Insights:

• As per the analysis shared by our research analyst, the global Messenger RNA (mRNA) Vaccines & Therapeutics market is estimated to grow annually at a CAGR of around 14.65% over the forecast period (2022-2030)
• In terms of revenue, the global Messenger RNA (mRNA) Vaccines & Therapeutics market size was valued at around USD 0.71 billion in 2021 and is projected to reach USD 26.35 billion, by 2030.
• The market is projected to grow at a significant rate due to the growing research on mRNA vaccines
• Based on the route of administration segmentation, subcutaneous was predicted to show maximum market share in the year 2021
• Based on application segmentation, infectious diseases were the leading application in 2021
• On the basis of region, North America was the leading revenue generator in 2021

Facts and Factors published the latest report titled "Messenger RNA (mRNA) Vaccines & Therapeutics Market Size, Share, Growth Analysis Report By Application (Infectious Diseases, Cancer, and Others), By End-User (Clinics, Hospitals, Diagnostic Centers, and Others), By Type (Infectious Disease Treatment mRNA Vaccine, Infection Prevention mRNA Vaccine, Standardization of Cancer Treatment mRNA Vaccine, and Individualized Cancer Treatment mRNA Vaccine), By Route Of Administration (Subcutaneous and IV Infusion), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2030" into their research database.

Industry Dynamics:

Global Messenger RNA (mRNA) Vaccines & Therapeutics Market: Growth Drivers

• Growing research on mRNA vaccines to propel market demand.

The global Messenger RNA (mRNA) Vaccines & Therapeutics market is projected to grow owing to the rising interest of the pharmaceutical and healthcare giants in understanding the structure of mRNA and using its main function to treat the various medical conditions that have not found any cure till date. The latest example of the extensive research and studies of mRNA-based vaccines for fighting the Covid-19 virus seemed to be successful. The global market could further benefit from the growing strategic measures adopted by the giants in the pharmaceutical industry including collaborations, joint ventures, acquisitions, and mergers to contribute higher in this segment.

For instance, in July 2022, Pfizer, a leading drug maker and one of the pioneers in the development of vaccines against Covid-19, announced that it will invest around USD 470 million to expand its research activities on mRNA vaccines. With this move, the company plans to maintain its hold in the mRNA field. To achieve better results, Pfizer will be constructing a new facility and renovating all of its existing units on the campus of New York, which is currently the company's main research facility. 

Global Messenger RNA (mRNA) Vaccines & Therapeutics Market: Restraints

• Unclear guidelines for approval to research market growth.

mRNA-based vaccines and therapeutics are relatively new in the medical science field and hence the guidelines and regulatory steps associated with quality control and characterization. This could act as a major growth restraining factor as companies struggle to develop and market the products in different countries which means that currently, the companies will have to solely rely on their internal tools to access the efficiency of the vaccines and their safety and market them based on internal findings.

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Messenger RNA (mRNA) Vaccines & Therapeutics Market: Opportunities

• Increasing efforts to find a cancer cure could provide growth opportunities.

Cancer remains one of the leading causes of death across the world. There is no cure for the disease even after it has been consistently studied and researched. There is hope with mRNA vaccines and researchers continue to explore the mRNA-based vaccine and therapeutics segment. Currently, the collaboration between BioNTech and Pfizer toward mRNA-based cancer vaccines is being carried out in small batches and the results look promising. However, more studies and trials are required to obtain accurate results.

Messenger RNA (mRNA) Vaccines & Therapeutics Market: Challenges

• Slow research advancement to act as a major challenge.

mRNA-based vaccines may have managed to grab the world's attention only recently but they have been in the medical research system for nearly three decades. The growth in the segment has been slow due to challenges like the cost of customized production, stability, and delivery. These aspects persist to remain some of the main areas of concern for businesses operating in mRNA-based therapeutics.

Global Messenger RNA (mRNA) Vaccines & Therapeutics Market: Segmentation

• The global Messenger RNA (mRNA) Vaccines & Therapeutics market is segmented based on application, end-user, type, route of administration, and region.

Based on application, the global market divisions are infectious diseases, cancer, and others. In 2021, the global market was dominated by the infectious diseases segment largely led by the high demand for vaccines to manage the spread of Covid-19 and its effects on the infected patients. 2020 was one of the hardest times the world has witnessed in the last few decades. The impact of Covid-19 can still be witnessed across the world.

As of December 2022, China remains in the grip of the disease as millions are getting infected every day and the global economy awaits the fourth wave. The most recent report published by the Mint stated that nearly 250 million people were infected by Covid-19 between 1st to 20th December 2022.

Based on the route of administration, the global market is segmented into subcutaneous and IV infusion. The highest growth in 2021 was observed in the subcutaneous segment driven by the higher number of single-dose and double-dose Covid-19 vaccines administered to the general population. As per official recommendations, most of the vaccine should be given through the intramuscular route to improve overall efficiency. As per the December 2022 report by the New York Times, more than 71.3% of the global population has already received Covid-19 vaccines.

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List of Key Players in Messenger RNA (mRNA) Vaccines & Therapeutics Market:

• Moderna Inc
• Daiichi Sankyo Company Limited
• BioNTech
• Pfizer
• CureVac N.V.

Key questions answered in this report:

• What are the growth rate forecast and market size for MESSENGER RNA (MRNA) VACCINES & THERAPEUTICS Market?
• What are the key driving factors propelling the MESSENGER RNA (MRNA) VACCINES & THERAPEUTICS Market forward?
• What are the most important companies in the MESSENGER RNA (MRNA) VACCINES & THERAPEUTICS Market Industry?
• What segments does the MESSENGER RNA (MRNA) VACCINES & THERAPEUTICS Market cover?
• How can I receive a free copy of the MESSENGER RNA (MRNA) VACCINES & THERAPEUTICS Market sample report and company profiles?

Report Scope:

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Regional Dominance:

• North America to lead market growth with the highest CAGR.

The global Messenger RNA (mRNA) Vaccines & Therapeutics market is projected to register the highest growth in North America owing to the high research & innovation rate of the associated drugs. Some of the most important players conducting extensive and dedicated research on the technology are located in the US. They are further encouraged by the presence of the advanced infrastructure allowing them access to space and other technological resources needed to conduct the trials and studies.

Growth in Asia-Pacific could be driven by the increasing investments in the pharmaceutical industry of China and India with the latter showing promising results. In August 2021, Gennova Biopharmaceuticals Ltd. became India's first biotechnology company to work on an mRNA-based Covid-19 vaccine. As per official data, more than 55 Indian drug manufacturing companies are capable of developing mRNA-based vaccines.

Global Messenger RNA (mRNA) Vaccines & Therapeutics Market is segmented as follows:

Messenger RNA (mRNA) Vaccines & Therapeutics Market: By Application Outlook (2023-2030)

• Infectious Diseases
• Cancer
• Others

Messenger RNA (mRNA) Vaccines & Therapeutics Market: By End-User Outlook (2023-2030)

• Clinics
• Hospitals
• Diagnostic Centers
• Others

Messenger RNA (mRNA) Vaccines & Therapeutics Market: By Type Outlook (2023-2030)

• Infectious Disease Treatment mRNA Vaccine
• Infection Prevention mRNA Vaccine
• Standardization of Cancer Treatment mRNA Vaccine
• Individualized Cancer Treatment mRNA Vaccine

Messenger RNA (mRNA) Vaccines & Therapeutics Market: By Route Of Administration Outlook (2023-2030)

• Subcutaneous
• IV Infusion

Messenger RNA (mRNA) Vaccines & Therapeutics Market: By Region Outlook (2023-2030)

North America

• The U.S.
• Canada

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa

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