Published Year: 2019
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Market Research Report
A quick peek into the report
Market Overview
BIS healthcare experts have found that the global market for mRNA vaccines and therapeutics to be one of the most rapidly evolving and dynamic markets, and the global mRNA vaccines market for COVID-19 is predicted to decline at a CAGR of 13.50% over the forecast period of 2021-2025. The global mRNA vaccines 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. Moreover, the global mRNA therapeutics market for non-COVID-19 applications is predicted to grow at a CAGR of 95.49% over the forecast period of 2026-2031. The global mRNA therapeutics market is majorly driven by the increasing focus on research in the field of mRNA for deciphering insights regarding its clinical utility, growing fund infusions by the government-funded initiatives, and growing product pipeline, among others.
Figure: Global mRNA Vaccines Market for COVID-19 Vaccines Snapshot
The global mRNA vaccines market for COVID-19 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 growth of the global mRNA vaccines market, particularly during, Q4 2020- Q4 2022. 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. However, due to the expected transition of the ongoing COVID-19 pandemic into an endemic by the end of 2023, the market is anticipated to drastically decline by the end of 2025.
Figure: Global mRNA Therapeutics Market for Non-COVID-19 Vaccines Snapshot
The global mRNA therapeutics market for non-COVID-19 applications is favored by the clinical developments which have been taking place to development of various therapies for non-COVID-19 applications, particularly for infectious disease, oncology, and other diseases. It should be noted here that the global mRNA therapeutics market consists of vaccines which are being developed for non-COVID-19 applications. 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 global mRNA therapeutics market in the forthcoming years.
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.
Competitive Landscape
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 global mRNA vaccines market for COVID-19 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 holds the largest share of the global mRNA therapeutics market for non-COVID-19 applications 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.
Global mRNA Vaccines and Therapeutics Market
Focus on Application, mRNA Type, Country Data (13 Countries), and Competitive Landscape - Analysis and Forecast, 2021-2031
Some Faq's
Frequently Asked Questions
The global mRNA vaccines and therapeutics market is expected to grow in negative in (-13.50%) during 2021-2025 for the Covid Vaccines. In case of Non-Covid Vaccine the market is expected to grow at a CAGR of 95.49% during 2026-2031.
Challenges that are hindering the growth of the market include logistical challenges associated with mRNA-based covid-19 vaccines and high price associated with mRNA-based covid-19 vaccines.
Factors driving the growth of the market include growing cases of covid-19 globally, favorable regulatory environment, and significant external funding for the development of mRNA-based covid-19 vaccines.
The mRNA vaccines are used in both in COVID-19 and non-COVID-19 vaccines.
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.
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