The key player experts have found the mRNA vaccines and therapeutics market to be one of the most rapidly evolving and dynamic markets, and the global market for mRNA vaccines and therapeutics for COVID-19 vaccines is predicted to grow at a CAGR of -13.50% over the forecast period of 2021-2025. Moreover, the global market for mRNA vaccines and therapeutics for non-COVID-19 vaccines is predicted to grow at a CAGR of 95.49% over the forecast period of 2026-2031. The overall global mRNA vaccines and therapeutics market is driven by certain factors, which include growing cases of COVID-19 globally, a favorable regulatory environment, and significant external funding for the development of mRNA-based COVID-19 vaccines.
The growth of the market is favored by the developments in the field of mRNA-based COVID-19 vaccines due to the growing cases of COVID-19 globally, favourable regulatory environment, and significant external funding for the development of mRNA-based COVID-19 vaccines. Additionally, the emergence of the new SARS-CoV-2 virus in different countries, coupled with the efficacy of mRNA vaccines against new strains, are some of the critical factors which are expected to bolster the market growth. Furthermore, pharmaceutical companies are focusing on the development of new mRNA-based vaccine candidates for COVID-19 to support the healthcare authorities and the government to establish robust vaccination strategies.
The market for mRNA vaccines and therapeutics for non-COVID-19 is favored by the clinical developments which have been taking place to develop novel mRNA-based vaccines and therapies for non-COVID-19 applications, particularly for infectious disease, oncology, and other diseases. The emerging and legacy pharmaceutical companies are massively investing in the development of these treatment modalities to further expand their pipeline. The successful launch of these candidates after obtaining regulatory approvals from the regulatory authorities is anticipated to increase the competitiveness of the market.
Within the research report, the market is segmented on the basis of applications, mRNA type, and region. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
The exponential rise in the number of COVID-19 cases followed by the growing emphasis of the government for establishing robust vaccination strategies has created a buzz among the pharmaceutical companies to further invest in the development of mRNA-based vaccines for COVID-19. Additionally, due to the growing prominence of mRNA vaccines, pharmaceutical companies are also significantly investing to expand their respective pipeline for non-COVID-19 applications such as infectious diseases, oncology, and other diseases. Due to the presence of a diverse portfolio and intense market penetration, BioNTech SE has been a pioneer in the mRNA vaccines and therapeutics ecosystem.
On the basis of region, North America holds the largest share of the mRNA vaccines and therapeutics market for COVID-19 vaccines due to significantly growing fund infusions for mRNA vaccine development, high rise in the pipeline products, presence of established and emerging pharmaceutical companies, presence of ultracold manufacturing and supply chains, and increasing awareness about mRNA-based COVID-19 vaccines, among others. Apart from this, the Asia-Pacific region is anticipated to grow at the fastest rate due to the exponentially rising cases of COVID-19 in the emerging countries, presence of a high population base in the region, and increasing demand for mRNA-based vaccines, among others.
Moreover, North America also holds the largest share of the mRNA vaccines and therapeutics market for non-COVID-19 vaccines due to the growing need to develop transformative therapeutics, increasing fund infusions, a favorable regulatory environment, and massively growing attention to establish precision medicine, among others.
Market Report Coverage - mRNA Vaccines and Therapeutics
- Application – COVID-19 mRNA Vaccines and Non-COVID-19 mRNA Vaccines
- mRNA Type – Nucleoside-Modified mRNA, Unmodified mRNA, and Self-Amplifying mRNA
- North America – U.S., and Canada
- Europe – Germany, France, U.K., Italy, Spain, and Rest-of-Europe
- Asia-Pacific – China, Japan, South Korea, Australia, and Rest-of-Asia-Pacific
- Latin America – Brazil, Mexico, and Rest-of-Latin America
- Growing Cases of COVID-19 Globally
- Favorable Regulatory Environment
- Significant External Funding for the Development of mRNA-Based COVID-19 Vaccines
- Logistical Challenges Associated with mRNA-Based COVID-19 Vaccines
- High Price Associated with mRNA-Based COVID-19 Vaccines
- Growing Emphasis on Research and Development for Non-COVID-19 Applications
Key Companies Profiled
Arcturus Therapeutics Holdings Inc., BioNTech SE, CureVac N.V., Daiichi Sankyo Company, Limited., ethris GmbH, GlaxoSmithKline plc, Gennova Biopharmaceuticals Ltd, Moderna, Inc., Pantherna Therapeutics GmbH, Providence Therapeutics, Silence Therapeutics, Translate Bio, VERSAMEB AG, and Verve Therapeutics, Inc.
Key questions answered in this report:
- What are the major market drivers, challenges, and opportunities in the global mRNA vaccines and therapeutics market?
- What are the key development strategies being implemented by the major players in order to sustain in the competitive market?
- What are the key regulatory implications in developed and developing regions for the global mRNA vaccines and therapeutics market?
- How is each segment of the market expected to grow during the forecast period, 2021-2031?
- Who are the leading players with significant offerings to the global mRNA vaccines and therapeutics market, and what is the expected market dominance for each of these leading players?
- What are the adoption trends for mRNA vaccines and therapeutics in established economies and emerging economies across the world?
- Which companies are anticipated to be highly disruptive in the future, and why?
- What are the current clinical unmet needs that are being faced in the global mRNA vaccines and therapeutics market?
- What are the dynamics of various application areas and countries, which are impacting the global mRNA vaccines and therapeutics market?
- What are the new market opportunities that are influencing the growth of the global mRNA vaccines and therapeutics market?
- How is each segment of the market expected to grow during the forecast period from 2021 to 2031? Following are the segment types:
- mRNA Type
- What are the unmet needs currently existing in the global mRNA vaccines and therapeutics market?