mRNA therapeutics Market Size to Surpass USD 128.14 Bn by 2030

Ottawa, Sept. 13, 2022 (GLOBE NEWSWIRE) -- The mRNA therapeutics market was estimated at USD 42.56 billion in 2021. The increased prevalence of infectious and chronic diseases including cancer, diabetes, HIV, and CVDs are among the primary drivers of a growing mRNA therapeutics market. Industry expansion is anticipated to be fueled by the rising demand for therapeutic medications and vaccines to treat viral diseases like HIV, Ebola, influenza, and most notably COVID-19.

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Many governmental agencies and vaccine manufacturers have focused on the COVID-19 viruses, and it's believed that this may hasten business expansion. Additionally, it is anticipated that throughout the projected timeframe, a greater variety of providers would employ creative strategies, such as integrating the phases 1 and 2 clinical study phases and securing regulatory requirements from health organizations more swiftly, which will support industry expansion.

In contrast to traditional pharmaceuticals, mRNA vaccinations and treatments are produced using cutting-edge technology. These goods have improved immunology, are much less costly to produce, and are more effective against diseases. Improvements in the lipid nanoparticle formulations within systemic administration of mRNA are also creating a positive prognosis for a growing market.

Report Highlights

• In 2021, the communicable diseases category dominated the industry and accounted for all revenues.
• In 2021, the preventive vaccinations sector completely controlled the industry.
• The sector of clinics and hospitals, which had a share of revenue of over 61% in 2021, is anticipated to expand at the fastest pace throughout the projected timeframe.
• North America will dominate the market in 2021 with a market of about 35% and is expected to expand at the quickest rate throughout the forecast period.
• In terms of revenue share in 2021, Europe came in second.
  
  

Regional Snapshots:

In terms of market shares in 2021, the United States was in the lead. During the projected timeframe, the United States is expected to expand at the fastest rate. The North American market would be influenced by the availability of sizable funding for research, growing federal programs for RNA-based therapies, and rising numbers of clinical studies. For instance, Graham as well as others' basic research was supported by the National Institute of Health, the Defense Industry, and government-financed university institutions in Nov 2020. This assistance was a key factor in the rapid discovery of vaccines against COVID-19.

The government has boosted its investments in vaccine producers because the epidemic began to speed up the supply of their goods. Due to a rise in patients and knowledge of rare hereditary diseases, Europe accounted for the second-largest profit share in 2021. Additionally, there are significant companies currently in Europe, as well as the demand for mRNA vaccinations and therapies to develop transformative treatments is rising there. For example, Moderna is spreading its wing throughout Europe that part of the United States biotech's development to "allow the distribution of mRNA immunizations and therapeutics locally," which would increase the need for mRNA vaccines and then further fuel the market throughout the forecast period.

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Scope of the Report

Market Dynamics

Drivers

The prevalence of infectious and chronic diseases has rapidly increased during the past ten years. Chronic and contagious diseases are expanding around the world despite all of the protective precautions and personal hygiene practices implemented. This is related to the falling nutrient content in the diet, which is one of the most crucial factors in determining how to prevent sickness. Diabetes, malignancies, osteoporosis, neurological disorders, and cardiovascular issues are a few of the most prevalent chronic diseases.

According to the Health Organization, cancer will be one of the leading causes of mortality worldwide in 2020, accounting for almost 10 million fatalities. Among the most common cancers that result in mortality are those of the colon, lung, and rectum, as well as the stomach, liver, and breast malignancies. Increased demand for mRNA cancer immunotherapy and therapies would emerge from an increase in the prevalence of chronic illnesses, propelling the industry's growth over the anticipated period.

Increased operational player investments in the creation of innovative and effective vaccines and medications are predicted to hasten industry expansion throughout the anticipated time frame. For instance, as part of a joint venture with Axcelead, Inc., American mRNA therapeutic manufacturer Arcturus Pharmaceuticals established a Japanese company in Chiba Prefecture in early April 2021. In addition, the company is currently constructing a production facility in Minamisoma Town, Fukushima District. These investments will support market expansion in the following years.

Restraints

The global market for mRNA vaccines is restrained by factors such as the rising prevalence of genetic disorders, cancer, and viral infections; and growing public awareness of the importance of immunization. The COVID-19 outbreak and the increase in the number of major industry players undertaking clinical studies for vaccine development were also expected to have a significant impact on the market in the upcoming years.

Opportunities

The global demand for mRNA vaccinations and RNAi treatments is anticipated to increase throughout the course of the projection period as a result of rising rates of chronic and infectious diseases, as well as government initiatives for implementing the previous. Targeted specialization, therapeutic sensitivity, and elevated vaccination awareness are further key factors that support the growth of the mRNA vaccines & RNAi therapies sector.

The high cost of studies, the possibility of failure, and the challenges associated with measuring mRNA are anticipated to impede the market growth. However, the application of mRNA technologies and the development of mRNA biomarkers is projected to create a lucrative market opportunity for mRNA vaccinations and RNAi therapeutics for the major market participant.

Challenges

Even though mRNA vaccine candidates have the potential for rapid growth and good efficacy, both of which will support the products' continuous expansion, they are a more feasible option than conventional vaccination methods in the mRNA vaccination market. These immunizations could also be produced and delivered more simply and inexpensively simpler and more inexpensive manner. Therefore, mRNA immunizations have revolutionized the field of vaccination by resolving all of the market's current problems.

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Recent Developments

• In February 2021, CureVac N.V. and GlaxoSmithKline plc amended their existing collaboration agreement to include the development of COVID-19 future mRNA vaccinations with the potential for a multi-valent strategy to tackle multiple developing variations in a single immunization. As additional mRNA-based pharmaceutical/vaccine leads exhibit proof-of-concept, progress through clinical trials, and eventually hit the market, the potential for stakeholders in this specialized industry sector is predicted to dramatically increase in the anticipated future.
  
  

Market Segmentation

By Application

• Rare Genetic Diseases
• Oncology
• Respiratory Diseases
• Infectious Diseases
• Others
  
  

By Type

• Prophylactic Vaccines
• Therapeutic Vaccines
• Therapeutic Drugs
  
  

By End User

• Hospitals & Clinics
• Research Organizations
• Other
  
  

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)
  
  

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