Global mRNA Therapeutics Market

mRNA Therapeutics Market Size, Share, Growth Analysis, By Type(Prophylactic Vaccines, Therapeutic Vaccines), By Application(Rare Genetic Diseases, Oncology) - Industry Forecast 2024-2031

Report ID: SQMIG35A2547 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 75

mRNA Therapeutics Market News

  • Monkeypox may be rare, but it is a serious contagious disease that can be transferred from animals to humans. BioNTech and Pfizer developed a vaccine against the illness, the mRNA-BNTX162b2 vaccine. They turned in an IND (Investigational New Drug) application in April 2023 to the FDA for testing and approval.
  • Moderna got the FDA’s greenlight for its mRNA-1273 vaccine in June 2023. At the same time, Pfizer was also granted approval for their BNT162b2 vaccine. These vaccines were designed against COVID-19 for children aged from six months to five years old
  • Moderna gave the FDA an IND application in March 2023. This was in regard to their mRNA-1273 vaccine against respiratory syncytial virus (RSV). This vaccine has helped reduce the possibility of respiratory tract infection occurrence in young children and infants.
  • CureVac turned in an IND application to the US Food and Drug Administration in May 2023. This was regarding their CV7201 vaccine against COVID-19. This disease is branched from the SARS-CoV-2 virus.
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mRNA Therapeutics Market size was valued at USD 40.80 Billion in 2022 and is poised to grow from USD 41.62 Billion in 2023 to USD 48.76 Billion by 2031, at a CAGR of 2% during the forecast period (2024-2031).

The competitive environment of the mRNA therapeutics market is made up of several key players. There is a mix of renowned pharmaceutical companies and rising biotech startups, along with innovative research institutes. Some industry leaders in this market are Pfizer, Moderna, CureVac, Translate Bio, BioNTech, and Arcturus Therapeutics. 'CureVac AG (Germany)', 'Roche Holding AG (Switzerland)', 'Pfizer Inc. (USA)', 'GlaxoSmithKline plc (United Kingdom)', 'Moderna, Inc. (USA)', 'Sanofi SA (France)', 'BioNTech SE (Germany)', 'Dynavax Technologies Corporation (USA)', 'Arcturus Therapeutics Holdings Inc. (USA)', 'AstraZeneca plc (United Kingdom)', 'Regeneron Pharmaceuticals, Inc. (USA)', 'Alnylam Pharmaceuticals, Inc. (USA)', 'Gilead Sciences, Inc. (USA)', 'Mylan N.V. (USA)', 'Novartis AG (Switzerland)', 'Modulus Therapeutics, Inc. (USA)', 'Catalent, Inc. (USA)', 'Translate Bio, Inc. (USA)', 'Ionis Pharmaceuticals, Inc. (USA)', 'Vertex Pharmaceuticals Incorporated (USA)'

The COVID-19 pandemic accelerated mRNA vaccine development, establishing mRNA technology as a powerful tool in combating infectious diseases.

mRNA Cancer Vaccines: This market has seen a growing and impactful trend. Cancer vaccines are being developed with the help of mRNA. This presents an impressive opportunity for breakthrough in oncology treatment and therapy.

North America asserted its dominance in the market, holding a substantial share of over 35.0%, and is poised to emerge as the fastest-growing region in the forecast period. This ascendancy can be attributed to several key factors, including the availability of significant research funding, the expansion of federal programs dedicated to advancing RNA-based medicines, and a burgeoning number of clinical trials. A case in point is the robust support provided by institutions such as The National Institutes of Health (NIH), the Defense Department, and federally funded academic laboratories. Their unwavering backing for foundational research, including that conducted by Graham and other researchers, has played a pivotal role in the rapid development of COVID-19 vaccines. Notably, in response to the pandemic, the government injected an additional $10.5 billion into vaccine manufacturers, expediting the delivery of their products. These factors collectively underscore North America's position as a thriving hub for mRNA-based medicines and therapeutics.

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Global mRNA Therapeutics Market

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