PUBLISHER: The Business Research Company | PRODUCT CODE: 1546538
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546538
Messenger RNA (mRNA) therapeutics involve utilizing mRNA molecules to prompt cells to produce therapeutic proteins within the body, aimed at preventing, treating, or curing diseases by facilitating the production of specific proteins necessary for therapeutic benefits.
The primary products in mRNA therapeutics include vaccines and drugs. mRNA vaccines instruct cells via mRNA to generate proteins that stimulate an immune response against targeted diseases. These vaccines find applications across various fields such as infectious diseases, oncology, rare genetic diseases, respiratory illnesses, among others. End users include hospitals, clinics, research organizations, and other healthcare providers.
The mRNA therapeutics market research report is one of a series of new reports from The Business Research Company that provides mRNA therapeutics market statistics, including mRNA therapeutics industry global market size, regional shares, competitors with a mRNA therapeutics market share, detailed mRNA therapeutics market segments, market trends and opportunities, and any further data you may need to thrive in the mRNA therapeutics industry. This mRNA therapeutics market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The mRNA therapeutics market size has grown steadily in recent years. It will grow from $33.50 billion in 2023 to $34.76 billion in 2024 at a compound annual growth rate (CAGR) of 3.8%. During the historic period, growth was driven by several factors including increased financial support for the development of efficient pharmaceuticals and vaccines, expansion of federal programs focused on advancing RNA-based medicines, heightened awareness of rare genetic diseases, and an increase in the number of clinical trials conducted.
The mRNA therapeutics market size is expected to see steady growth in the next few years. It will grow to $40.69 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. In the forecast period, growth is anticipated to be driven by several factors including the rising prevalence of infectious diseases, increasing patient visits to hospitals and clinics, broader applications of mRNA therapeutics, growing demand for personalized and precision medicine, favorable regulatory environments, and accelerated approval pathways. Key trends expected in this period include advancements in mRNA delivery technologies, rapid development and adaptation of mRNA vaccines, the emergence of self-amplifying mRNA (saRNA) platforms, scalability and flexibility improvements in mRNA manufacturing, and innovations in novel mRNA modifications.
The mRNA therapeutics market is poised for growth due to the increasing prevalence of long-lasting and communicable diseases. These diseases, which endure for extended periods and can be transmitted between individuals, include conditions such as tuberculosis, HIV/AIDS, and hepatitis. Factors contributing to their rise include global travel and inadequate healthcare infrastructure, which facilitate disease spread and hinder effective management. mRNA therapeutics are pivotal in combating such diseases by swiftly enabling the body to produce proteins that enhance immune responses, thereby accelerating the development of vaccines and treatments. For example, in 2022, the number of people in England living with diagnosed HIV and receiving care rose to 94,397, a 3% increase from 2021, highlighting the need for effective therapeutic advancements.
Leading companies in the mRNA therapeutics market are concentrating on pioneering solutions, such as mRNA-based booster vaccines, to bolster immunity against evolving viral variants. These vaccines utilize messenger RNA (mRNA) technology to extend and enhance immunity against specific pathogens, particularly following initial vaccination series. For instance, Gennova Biopharmaceuticals Ltd. launched India's first indigenous mRNA-based Omicron-specific booster vaccine, GEMCOVAC-OM, in June 2023. Designed to combat the Omicron variant of SARS-CoV-2, GEMCOVAC-OM is thermostable and can be administered without needle injection, facilitating easy deployment in India's last-mile regions. Clinical studies have shown significantly heightened immune responses compared to other vaccines, underscoring the efficacy of variant-specific approaches.
In September 2021, Sanofi SA. acquired Translate Bio Inc. for $3.2 billion, aiming to accelerate the development of transformative mRNA-based vaccines and therapies. This acquisition enhances Sanofi's mRNA vaccine programs and expands Translate Bio's pipeline in cystic fibrosis, rare pulmonary diseases, and liver diseases using its MRT platform. Translate Bio Inc., based in the US, specializes in mRNA therapeutics and is committed to advancing mRNA-based medicine development.
Major companies operating in the mRNA therapeutics market are Pfizer Inc., Novartis AG, Sanofi AG, AstraZeneca plc, GlaxoSmithKline plc, Hoffmann-La Roche AG, Moderna Therapeutics Inc, BioNTech SE, Vertex Pharmaceuticals Incorporated, Catalent Inc, Alnylam Pharmaceuticals Inc, Sarepta Therapeutics Inc, Arcturus Therapeutics Holdings Inc, CureVac N.V, Ethris GMBH, eTheRNA immunotherapies NV, In-Cell-Art S.A.S., Nutcracker Therapeutics Inc, SCM LifeScience Co Ltd, Suzhou Abogen Biosciences Co Ltd, Tiba Biotech LLC, CSPC Pharmaceutical Group, CRISPR Therapeutics AG
North America was the largest region in the mRNA therapeutics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mRNA therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the mRNA therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The mRNA therapeutics market consists of revenues earned by entities by providing services such as vaccine development, protein replacement therapies, gene editing, monoclonal antibody production, and cancer treatment. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
mRNA Therapeutics Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mRNA therapeutics market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for mRNA therapeutics ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The mRNA therapeutics market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.