Dublin, May 29, 2024 (GLOBE NEWSWIRE) -- The "mRNA Therapeutics Market Size, Share & Trends Analysis, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global mRNA therapeutics market is expected to reach USD 31.3 billion by 2030. It is expected to expand at a CAGR of 17.05% from 2024 to 2030.
One of the main factors propelling the market growth is the rising incidence of chronic and infectious diseases like diabetes, HIV, cancer, and CVDs. The growing need for therapeutic drugs and vaccinations to combat viral illnesses like Ebola, influenza, HIV, and most recently COVID-19 is expected to fuel industry growth. The COVID-19 virus has been the focus of numerous government organizations and vaccine producers, and it is anticipated that this will accelerate market expansion.
Furthermore, the availability of vaccination doses around the world is projected to increase during the forecast period as a result of multiple suppliers using novel techniques, such as combining the phase 1 and phase 2 clinical trial stages and obtaining regulatory clearances more quickly from health agencies, thus contributing to the industry growth. With the use of cutting-edge technologies, mRNA vaccines and therapeutics are generated in comparison to conventional medications. These products are less expensive to produce, more powerful against infections, and have enhanced immunogenicity. A favorable outlook for market expansion is also being created by advancements in the compositions of lipid nanoparticles for in-vivo systemic delivery of mRNA.
As another significant growth-inducing element, pharmaceutical firms are spending on mRNA technology since they can combine numerous molecules into a therapeutic drug. The market is expected to be driven by additional factors, such as significant biotechnology-related research and development (R&D) initiatives and advancements in medical technology. For instance, Moderna and AstraZeneca are working together on a myocardial ischemia therapy using mRNA (a form of cardiac disease that develops when there is a decrease in blood flow to the heart, depriving the heart muscle of necessary oxygen). Similarly, mRNA treatments for heart disease are also being tested by Arcturus Therapeutics. Such investments are likely to supplement the market growth in the coming years.
The COVID-19 pandemic is anticipated to positively impact the industry growth. The COVID-19 vaccine is one of the diseases for which the mRNA technology is being used. In addition to its predominant use in cancer therapy, the COVID-19 vaccine is the main factor driving the market for mRNA. The mRNA firms are working hard to create COVID-19 vaccines for the next generation due to the coronavirus mutation and the potential spread of virus variants. For instance, in June 2022, The Food and Drug Administration approved the Moderna COVID-19 Vaccine and also the Pfizer & BioNTech COVID-19 Vaccine for use in children as young as 6 months old as COVID-19 preventative measures. As a result, the usage of these technologies is projected to increase during the COVID-19 pandemic and result in industry growth.
Additionally, there has been a discernible trend toward consolidation over the past few years, with players forming strategic alliances to support current R&D projects. For instance, in February 2021, building on their current partnership, GlaxoSmithKline plc and CureVac N.V. announced a new USD152.36 million agreement to create COVID-19 next-generation mRNA vaccines with the possibility for a multi-valent strategy to address numerous developing variations in a single vaccination. As additional mRNA-based therapeutic / vaccine leads exhibit proof-of-concept, go through clinical testing, and eventually hit the market, the opportunity for stakeholders involved in this specialized industry segment is likely to experience a significant increase in the predicted future.
mRNA Therapeutics Market Report Highlights
- Based on applications, the market is segmented into rare genetic diseases, oncology, respiratory diseases, infectious diseases, and others.
- Based on types, the market is further categorized into prophylactic and therapeutic. The prophylactic segment completely dominated the market with a share of 100% in 2023.
- Based on end-uses, the market is further segmented into hospitals & clinics, research organizations, and others. The hospitals & clinics segment dominated the market with a share of 45.36% in 2023 and is expected to register the fastest growth rate from 2024 to 2030
- The North America mRNA therapeutics market accounted for the largest revenue share of 40.37% share in 2023
Key Topics Covered
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segment Snapshot
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Rising Prevalence of Cancer
3.2.1.2. Academic and Industrial Interest in mRNA
3.2.1.3. Advantages of mRNA Vaccines
3.2.1.4. Growing Demand for Therapeutic Medicines
3.2.2. Market Restraint Analysis
3.2.2.1. Stringent Government Regulations for mRNA-based Product Approvals
3.3. Industry Analysis Tools
3.3.1. Porter's Five Forces Analysis
3.3.2. PESTEL Analysis
3.3.3. COVID-19 Impact Analysis
Chapter 4. Application Business Analysis
4.1. Application Segment Dashboard
4.2. mRNA Therapeutics Market Application Movement Analysis
4.3. mRNA Therapeutics Market Size & Trend Analysis, by Application, 2018 to 2030 (USD Million)
4.4. Rare Genetic Diseases
4.5. Oncology
4.6. Respiratory Diseases
4.7. Infectious Diseases
4.8. Others
Chapter 5. Type Business Analysis
5.1. Type Segment Dashboard
5.2. mRNA Therapeutics Market Type Movement Analysis
5.3. mRNA Therapeutics Market Size & Trend Analysis, by Type, 2018 to 2030 (USD Million)
5.4. Prophylactic
5.5. Therapeutic
Chapter 6. End-use Business Analysis
6.1. End-use Segment Dashboard
6.2. mRNA Therapeutics Market End-use Movement Analysis
6.3. mRNA Therapeutics Market Size & Trend Analysis, by End-use, 2018 to 2030 (USD Million)
6.4. Hospitals & Clinics
6.5. Research Organizations
6.6. Others
Chapter 7. Regional Business Analysis by Application, Type, End-use
7.1. Regional Dashboard
7.2. Market Size & Forecast and Trend Analysis, 2023 & 2030
7.3. North America
7.4. Europe
7.5. Asia Pacific
7.6. Latin America
7.7. MEA
Chapter 8. Competitive Landscape
8.1. Company Categorization
8.2. Strategy Mapping
8.3. Company Market Position Analysis, 2023
8.4. Company Profiles/Listing
8.4.1. Moderna Inc.
8.4.2. BioNTech SE
8.4.3. CureVac N.V.
8.4.4. Arcturus Therapeutics
8.4.5. Sanofi
8.4.6. GSK plc
8.4.7. Argos Therapeutics Inc.
8.4.8. Ethris
8.4.9. Pfizer Inc.
8.4.10. AstraZeneca
For more information about this report visit https://www.researchandmarkets.com/r/mqpcdm
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
