Global mRNA Vaccines and Therapeutics Market to Reach US$ 72.7 Billion by 2032, Spurred by Increasing Investments in Biotechnology

August 31, 2020 | Healthcare

According to the latest report by IMARC Group, titled "mRNA Vaccines and Therapeutics Market Report by Vaccine Type (Self-amplifying mRNA-Based Vaccines, Conventional Non-Amplifying mRNA-Based Vaccines), Treatment Type (Bioengineered Vaccine, Gene Therapy, Gene Transcription, Cell Therapy, Monoclonal Antibody, and Others), Vaccine Manufacturing (In-House, Out-Sourced), Application (Cancer, Infectious Disease, Gene Editing, Protein Replacement), End-User (Hospitals and Clinics, Research Organizations, and Others), and Region 2024-2032," the global mRNA vaccines and therapeutics market size reached US$ 57.7 Billion in 2023. Messenger Ribonucleic Acid (mRNA) is a single-stranded RNA molecule that plays a vital role in human biology, especially in protein synthesis. Numerous mRNA vaccines and therapeutics are now available in the market that are administered in the human body to trigger virus-detecting immune sensors. This is executed to induce the production of antibodies that further bind to the potential pathogens. These solutions use genetic information to produce viral antigen proteins within the cells and provide acquired immunity through an RNA containing vector, such as lipid nanoparticles. Their use aids in boosting the immunity of the body by improving B- and T-cell responses.

Global mRNA Vaccines and Therapeutics Market Trends:

mRNA vaccines represent a promising alternative to conventional vaccines due to their high potency, capacity for rapid development and potential for low-cost manufacture. Along with this, there has been a rise in the requirement of vaccines and therapeutics for the treatment of various viral infections, such as Ebola and Human Immunodeficiency Virus (HIV). Since these therapeutics are considered to be more effective against pathogens due to their enhanced immunogenicity, numerous private and public companies are heavily investing in extensive research and development (R&D) activities in the field of biotechnology for vaccine development and protein replacement therapy using mRNA. Additionally, on account of the outbreak of the coronavirus disease (COVID-19) pandemic, numerous companies are currently engaging in the development of a vaccine to curb the transmission of the virus, thereby creating a positive outlook for the market. Moderna, Inc. is one such leading mRNA technology firm that is actively invested in the development of the mRNA-1273 vaccine against the novel coronavirus (SARS-CoV-2). It has registered positive interim results in its Phase 1 study and has already proceeded with the Phase 3 study of mRNA-1273 that is being conducted in collaboration with the NIH and BARDA. The market is further driven by the significant improvements in the lipid nanoparticle formulations for in-vivo systemic delivery of mRNA. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 72.7 Billion by 2032.

Market Summary:

  • On the basis of the vaccine type, the market has been bifurcated into self-amplifying and conventional non-amplifying mRNA-based vaccines.
  • Based on the treatment type, the market has been classified into bioengineered vaccine, gene therapy, gene transcription, cell therapy, monoclonal antibody and others.
  • On the basis of vaccine manufacturing, the market has been divided into in-house and out-sourced.
  • Based on the application, the market has been categorized into cancer, infectious disease, gene editing and protein replacement.
  • On the basis of the end-user, the market has been segmented into hospitals and clinics, research organizations, and others.
  • On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
  • The competitive landscape of the industry has been examined in the report with the detailed profiles of the key players. Some of these players include Arcturus Therapeutics, Inc., BioNTech SE, CureVac AG, eTheRNA immunotherapies NV, ethris GmbH, GlaxoSmithKline plc, Moderna, Inc., Translate Bio, Inc., Argos Therapeutics, Inc., Sangamo Therapeutics, Inc., and Pfizer Inc.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global mRNA Vaccines and Therapeutics Market to Reach US$ 72.7 Billion by 2032, Spurred by Increasing Investments in Biotechnology
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