Austin, United States, Dec. 08, 2024 (GLOBE NEWSWIRE) — mRNA Therapeutics Market Size & Growth Analysis:
“According to SNS Insider, the mRNA Therapeutics Market was valued at USD 11.82 billion in 2023 and is projected to grow to USD 48.65 billion by 2032, registering a robust CAGR of 17.04% during the forecast period of 2024-2032.”
mRNA Therapeutics Market Overview
The mRNA therapeutics market has grown unprecedentedly, primarily due to the successful implementation of mRNA-based vaccines against the COVID-19 pandemic. Such success has catalyzed increased investment in developing mRNA technologies for other applications such as cancer immunotherapy, respiratory diseases, and genetic disorders. The ability of mRNA therapeutics to rapidly generate vaccines and therapeutics for emerging diseases, combined with the increasing focus on personalized medicine, makes mRNA a promising approach for next-generation treatments.
Growth drivers include advancements in the research and development of mRNA-based cancer therapies, the continued expansion of the mRNA vaccine portfolio beyond COVID-19, and regulatory approvals which have boosted the acceptance of mRNA products. Other advantages of therapeutics in mRNA include rapid timelines of production and the promise to attack diseases that used to be hard to conquer. The emerging partnerships and funding have increased the number of clinical trials, which will further accelerate the growth trajectory of the market.
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Major Players Analysis Listed in this Report are:
- Moderna Inc.
- BioNTech SE
- CureVac N.V.
- Arcturus Therapeutics
- Sanofi
- GSK Plc.
- Argos Therapeutics Inc.
- Ethris
- Pfizer Inc.
- AstraZeneca
- Translate Bio, Inc
- Sangamo therapeutics
- Etherna Immunotherapies.
- Crisper Therapeutics and others
mRNA Therapeutics Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 11.82 billion |
| Market Size by 2032 | US$ 48.65 billion |
| CAGR | CAGR of 17.04% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | Catalysts Fueling Growth in the mRNA Therapeutics Market are Innovations, Investments, and Expanded Applications |
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Segment Analysis
By Application
In 2023, the infectious diseases application segment dominated the mRNA therapeutics market. This dominance is primarily attributed to the mRNA COVID-19 vaccines developed by Pfizer-BioNTech and Moderna, which were among the first successful mRNA-based therapies to receive emergency use authorization and later full approval. The infectious disease segment is expected to continue to lead, driven by the ongoing development of mRNA vaccines for other viral infections such as influenza, RSV (respiratory syncytial virus), and Zika virus.
The oncology segment is expected to grow at the highest CAGR during the forecast period, driven by increasing investment in mRNA cancer vaccines. Personalized cancer vaccines that trigger the immune system to target and destroy cancer cells are showing great promise. Numerous clinical trials are underway exploring the use of mRNA technology in treating various cancers, including melanoma, non-small cell lung cancer (NSCLC), and others.
By Type
In 2023, the prophylactic segment, which includes vaccines was the dominant segment. The success of mRNA vaccines in addressing the COVID-19 pandemic significantly boosted this segment. As more mRNA vaccines for influenza, HIV, and other infectious diseases enter clinical trials, the prophylactic segment is expected to maintain steady growth.
The therapeutic segment, on the other hand, is projected to experience the highest growth between 2024 and 2032. This growth is driven by the expanding use of mRNA technology in personalized medicine, particularly in cancer therapy. Major pharmaceutical companies are heavily investing in the development of mRNA-based therapeutics for a wide range of diseases, including rare genetic disorders, autoimmune diseases, and cancers.
By End-Use
The hospitals & clinics segment accounted for the largest share of the mRNA therapeutics market in 2023, at 45.3%. This segment is expected to experience the fastest growth between 2024 and 2032 due to the increasing demand for mRNA-based vaccines and therapeutics for chronic diseases. The growing patient population and the expansion of healthcare infrastructure globally are key factors driving the demand for mRNA treatments in hospital settings.
The other category, which includes specialty pharmacies, is also anticipated to grow significantly. Specialty pharmacies play a crucial role in the distribution and storage of mRNA vaccines, especially given the ultra-low temperature storage requirements for some mRNA-based treatments. The increasing reliance on specialty pharmacies to handle these vaccines is expected to drive growth in this segment.
mRNA Therapeutics Market Key Segmentation:
By Application:
- Rare genetic disease
- Respiratory disease
- Infectious disease
By Type:
- Prophylactic vaccines
- Therapeutic Vaccines
- Therapeutic Drugs
By End User:
- Hospitals and clinics
- Research Organizations
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Regional Analysis
In 2023, North America held the largest share of the mRNA therapeutics market, accounting for more than 40.3% of the global market. This is primarily due to the strong presence of major pharmaceutical companies such as Moderna, Pfizer-BioNTech, and CureVac, along with significant investments in mRNA research and development by governments and private organizations. The region’s advanced healthcare infrastructure and high adoption rate of new medical technologies further contributed to its dominance.
Europe followed as the second-largest market for mRNA therapeutics, with countries such as Germany, the UK, and Switzerland emerging as key players in mRNA vaccine development and research. The European Medicines Agency (EMA) has been proactive in granting approvals for mRNA-based products, further boosting market growth in the region. The increasing number of clinical trials and collaborations between European biotech companies and large pharmaceutical firms is expected to continue driving the market in this region.
The Asia Pacific region is expected to experience the highest growth rate during the forecast period, driven by rising healthcare expenditures, growing healthcare infrastructure, and the increasing demand for innovative therapies. Countries such as China, Japan, and India are investing heavily in the biotechnology and pharmaceutical industries, making them key players in the mRNA therapeutics market. Additionally, the growing focus on personalized medicine and the rapid adoption of advanced healthcare technologies are expected to contribute to the expansion of the market in Asia Pacific.
Recent Developments
September 2023 – Moderna, Inc. expanded its mRNA research to encompass oncology, respiratory diseases, and rare conditions, aiming to boost its revenue and market presence in these emerging therapeutic areas.Top of Form
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. mRNA Therapeutics Market Segmentation, by Application
8. mRNA Therapeutics Market Segmentation, by Type
9. mRNA Therapeutics Market Segmentation, by End User
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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Source: GlobeNewswire – Press Releases