PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514974
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1514974
The RNA-based Therapeutics and Vaccines Market size was valued at USD 2.0 Million in 2023, expanding at a CAGR of 65.10% from 2024 to 2032.
RNA-based therapeutics and vaccines represent a modern approach to medical treatments and disease prevention that utilizes RNA molecules as the primary agents for therapy or immunization. RNA vaccines can be developed and manufactured more rapidly than traditional vaccines, as they do not require the production of the pathogen itself.
RNA-based Therapeutics and Vaccines Market- Market Dynamics
Advancement in RNA delivery technologies and personalized medicines are expected to propel market demand
RNA-based therapeutics, such as mRNA therapy, hold promise for personalized medicine. They can be tailored to target specific genetic mutations or disease mechanisms unique to individual patients. This potential for customization aligns with the growing trend toward precision medicine, where treatments are increasingly tailored to individual genetic profiles and disease characteristics. Thus, increased demand for personalized therapies & medicine is expected to fuel the market growth. Additionally, advances in lipid nanoparticles (LNPs) and other delivery systems have significantly improved the stability and efficiency of RNA therapeutics and vaccines. These advancements reduce barriers to commercialization and enhance the feasibility of RNA-based treatments for various diseases.
The COVID-19 pandemic has underscored the urgent need for rapid vaccine development. RNA-based vaccines, such as those developed by Pfizer-BioNTech and Moderna, demonstrated unprecedented speed in development and deployment. This experience has accelerated interest and investment in RNA technology for future pandemic preparedness. Regulatory agencies, such as the FDA and EMA, have demonstrated willingness to expedite review processes for RNA-based therapies and vaccines, particularly during public health emergencies. This regulatory support reduces time to market and encourages further investment in RNA technology.
RNA-based Therapeutics and Vaccines Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 65.10% over the forecast period (2024-2032)
Based on Product Type segmentation, the RNA-based Therapeutics segment was predicted to show maximum market share in the year 2023, owing to the high need for RNA therapeutics.
Based on Application segmentation, cardiovascular diseases segment was the leading Application in 2023, owing to rising demand for RNA vaccines in treatment of cardiovascular diseases.
Based on End User segmentation, hospitals segment was the leading End User in 2023, owing to high demand for treatment of chronic, genetic, and cardiovascular disorders.
On the basis of region, North America was the leading revenue generator in 2023, owing to high prevalence of infectious & genetic diseases.
The Global RNA-based Therapeutics and Vaccines Market is segmented on the basis of Product Type, Application, End User, and Region.
The market is divided into two categories based on Product Type: RNA-based Therapeutics and RNA-based Vaccines. The RNA-based Vaccines segment dominates the market. High demand for precision medicinal vaccines & therapies are boosting market growth.
The market is divided into seven categories based on the Application: oncology, immunology, ophthalmology, infectious disease, cardiovascular disease, genetic disease, and others. The cardiovascular disease segment dominates the market. Rising genetic and immunology related diseases and new research in genetics is promoting segment demand.
The market is divided into three categories based on End User: hospitals & clinics, research laboratories, and others. The hospitals & clinics segment dominates the market and is expected to maintain its high dominance during the forecast period. Research laboratories is expected to expand at fastest rate with rise in vaccine research & therapies.
RNA-based Therapeutics and Vaccines Market- Geographical Insights
Worldwide, the RNA-based Therapeutics and Vaccines market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America dominates the global market. Many pioneering RNA-based therapeutics and vaccines originate from companies based in this region, supported by robust research institutions and venture capital funding. The US FDA's proactive stance on facilitating the development and approval of RNA-based therapies has encouraged investment and accelerated commercialization in the United States.
The market for RNA-based therapeutics and vaccines is characterized by intense competition among several key companies. Market players are actively advancing RNA-based therapies across a wide range of diseases, including cancer, genetic disorders, infectious diseases, and metabolic conditions. Ongoing clinical trials and preclinical research aim to expand the therapeutic applications of RNA technologies beyond the COVID-19 pandemic. Collaborations between academia, biotech firms, and pharmaceutical companies are driving innovation in RNA-based therapies. These partnerships leverage diverse expertise in RNA biology, drug delivery, and clinical development to accelerate the translation of research into commercial products.
In August 2023, CureVac collaborated with GSK for the development of bivalent mRNA COVID-19 vaccines.
In March 2022, Moderna has started second phase HIV vaccine trials.