Newark, New Castle, USA, June 30, 2023 (GLOBE NEWSWIRE) -- In accordance with the recent Growth Plus Reports study, the Global mRNA Therapeutics Market was estimated at a value of US$ 10.6 billion in 2022 and is expected to register a revenue CAGR of 10.54% from 2023 to 2031 to reach US$ 23.7 billion. The study outlines the most efficient strategy, market trends, significant opportunities and drivers, the competitive environment, market size, statistical data, economic forecasts, and the most important investment areas.
Key Takeaways:
- The increasing prevalence of chronic diseases drives market revenue growth.
- The ability to treat chronic ailments is increasing the demand for the mRNA therapeutics market.
- Increasing as market players are emphasizing development tactics and creating a product pipeline.
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mRNA Therapeutics Market Scope
| Report Attribute | Details |
| Market size value in 2022 | US$ 10.6 billion |
| Revenue forecast in 2031 | US$ 23.7 billion |
| Growth Rate | CAGR of 10.54% from 2023 to 2031 |
| Base Year for Estimation | 2022 |
| Forecast Period | 2023-2031 |
| Historical Year | 2021 |
| Segments Covered | Type, Application, End Use, and Region. |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Market Drivers:
The market revenue is expected to rise because of increased research and development (R&D), partnerships, and collaborations, rising demand for innovative treatments and vaccines, as well as an increase in chronic and infectious diseases. Another factor fueling the market's revenue expansion is the increasing frequency of chronic disorders. However, due to the relatively short protein synthesis half-life in mRNA treatments for chronic illnesses that need recurrent administration, the global market revenue for mRNA therapeutics will only experience a small rise.
Market Segmentation:
Growth plus reports have analyzed the health kiosk market from perspectives such as type, application, end-user, and region.
Type Segmentation:
Based on type, the global mRNA therapeutics market is segmented into prophylactic vaccines, therapeutic drugs, and therapeutic vaccines.
The prophylactic vaccine segment dominates the global mRNA therapeutics market with the largest revenue share. This large revenue share is attributed to the numerous advantages, including preventing diseases before they occur, reducing healthcare costs associated with treating chronic diseases, and protecting vulnerable populations such as infants and elderly individuals.
Application Segmentation:
Based on the application, the global mRNA therapeutics market is segmented as rare genetic diseases, infectious diseases, oncology, respiratory diseases, and others.
The infectious diseases segment dominates the global mRNA therapeutics market with the largest revenue share. This large revenue share is attributed to the rapid and effective treatment of infectious diseases by producing specific immunogenic proteins. Additionally, mRNA vaccines can be quickly developed and manufactured in response to emerging infectious disease prevalence.
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End-User Segmentation:
Based on end-user, the global mRNA therapeutics market is segmented into research organizations, hospitals & clinics, and others.
The hospitals and clinics segment dominates the global mRNA therapeutics market with the largest revenue share. This large revenue share is attributed to the potential for treating various diseases, particularly in the most challenging instances when standard drugs and treatments are no longer effective.
Regional Growth Dynamics:
Based on the region, the global mRNA therapeutics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominates the global mRNA therapeutics market. The key factor supporting the growth of the mRNA therapeutics market in this region is the increased funding for research and development, increased mRNA drug approvals, new medical technology, and rising consumer demand in the healthcare sector.
Competitive Landscape:
The prominent players operating in the global mRNA therapeutics market are:
- Moderna, Inc.
- BioNTech SE
- CureVac N.V.
- Arcturus Therapeutics
- Translate Bio, Inc.
- GSK Plc
- Argos Therapeutics Inc.
- Sangamo Therapeutics, Inc.
- Pfizer Inc.
- AstraZeneca Plc
Many businesses strongly emphasize development strategies, including new product releases, product approvals, and other components like patents and events. The market viewed acquisition, partnership, and collaboration activities as inorganic development strategies. These activities have expanded the demand for mRNA treatments globally and opened new economic and business opportunities.
Recent Developments:
- In January 2023, Moderna, Inc. and CytomX Therapeutics, Inc, partnered and signed a licensing to develop experimental mRNA-based conditionally stimulated therapies based on Moderna's mRNA technologies and CytomX's Probody therapeutic platform.
- In May 2022, the Center for Family Health Research (CFHR) and the Aurum Institute, in collaboration with the nonprofit scientific research organization IAVI and Moderna, Inc., announced that the first screenings for a Phase I clinical study of an mRNA HIV vaccine antigen (mRNA-1644).
- In October 2022, Moderna Inc. announced the United States Food and Drug Administration (FDA) had granted emergency use authorization (EUA) for its BA.4/BA.5 Omicron-targeting bivalent COVID-19 booster vaccine, mRNA-1273.222.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- MARKET DYNAMICS
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL mRNA THERAPEUTICS MARKET - ANALYSIS & FORECAST, BY TYPE
- Prophylactic Vaccines
- Therapeutic Drugs
- Therapeutic Vaccines
- GLOBAL mRNA THERAPEUTICS MARKET - ANALYSIS & FORECAST, BY APPLICATION
- Rare Genetic Diseases
- Infectious Diseases
- Oncology
- Respiratory Diseases
- Others
- GLOBAL mRNA THERAPEUTICS MARKET - ANALYSIS & FORECAST, BY END USE
- Hospitals & Clinics
- Research Organizations
- Others
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VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on 'Strategic Developments' registered by leading players of the market.
CUSTOMIZATION OPTIONS:
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- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- 'Business Profile' of Key Players
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