Description
The Global mRNA Market size was USD 53.4 billion in 2023 and is expected to grow to USD 85.6 billion in 2031 with a CAGR of 19.6% during the forecast period from 2023 to 2030.
Global mRNA Market: Overview
mRNA technology, which is essential in molecular biology, has increased in vaccination and medical studies. Biology advancements, bigger R&D expenditure, and an appetite for advance therapies all drive market growth. Moderna Pharmaceuticals and BioNTech/Pfizer are the industry leaders for mRNA COVID-19 vaccines. Moderna studies mRNA vaccines for a variety of disorders, whereas BioNTech concentrates on infectious illnesses and cancers. Initiatives such as the National Institutes of Health (NIH) and government collaborations in the United States and Canada promote academic research and manufacturing. Associations with Pfizer, BioNTech, Sanofi SA, Translate Bio, GSK, and CureVac show the industry’s overall commitment to mRNA technology.
Global mRNA Market: Covid-19 Impact
The COVID-19 pandemic has spurred global interest in mRNA technology, primarily through mRNA-based vaccines and therapies. Rapid development of COVID-19 vaccines by companies like Moderna and BioNTech/Pfizer has demonstrated mRNA’s effectiveness. Strong government funding, exemplified by initiatives such as the US National Biotechnology and Biomanufacturing Plan and Canadian partnerships, has propelled the sector forward. With over $5 billion invested in mRNA treatments in 2020 and expanding clinical trials, partnerships, and promising therapeutic advancements, the future of mRNA technology appears bright.
Global mRNA Market: Growth Drivers
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Rapid Vaccine Development:
mRNA technology offers a fast and flexible foundation for vaccine creation, allowing unparalleled rapidity in the manufacturing of vaccines against novel illnesses that are infectious. The commercialization of mRNA-based COVID-19 vaccines underscored that technology’s capacity to revolutionise vaccine development while tackling global health issues.
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Advancements in Therapeutics:
mRNA-based therapies show promise in addressing a variety of ailments, include cancer, respiratory infections, and genetic disorders. Ongoing efforts to conduct research and development are aimed at leveraging mRNA technology to provide novel drugs with higher safety and effectiveness features, hence improving market growth.
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Investment in Biotechnology:
Growing investment in biotechnology R&D, in addition to federal support for mRNA technology, have contributed to progress in the sector. Biotech and pharmaceutical companies are broadening their mRNA portfolios and expanding into production infrastructure to meet increasing demand for mRNA products, resulting in market expansion.
Global mRNA Market: Restraining Factors
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Regulatory Challenges:
The environment of regulation for mRNA products is evolving, posing obstacles for market participants in terms of getting approvals and bargaining complex legal processes. Regulatory uncertainties and burdensome standards may impede wider installation of mRNA technology, particularly in certain places.
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Manufacturing Complexity:
The manufacturing process of mRNA-based medications and vaccines is complicated, needing specialised equipment and expertise. Scaling up production facilities to satisfy global demand presents problems regarding of scalability, control of quality, and supply chain administration, thereby impeding the expansion of the market.
Global mRNA Market: Opportunity Factors
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Expanded Applications:
Because of its adaptability, mRNA technology may be used for medicines, testing, and research in alongside vaccinations. Expanding the range of mRNA-based therapeutics in various therapeutic areas provides customers for market expansion as well as creativity.
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Emerging Markets:
The increasing use of mRNA technology in developing countries, fuelled by increased healthcare expansion, rising biomedical investment, and growing pharmaceutical markets, offers considerable growth potential for market players. Emerging economies offer untapped possibilities for the use of mRNA products, particularly in vaccine development and controlling diseases.
Global mRNA Market: Challenges
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Delivery Challenges:
The effective distribution of molecules of mRNA to target cells remains an essential problem in the creation of mRNA-based therapies. Addressing intracellular delivery challenges such as mRNA stability, intracellular absorption, and immunogenicity is crucial to improving the effectiveness of therapy and realising mRNA technology’s maximum potential.
Global mRNA Market: Segmentation
Based on Product Type: The market is segmented into Standard mRNA, Modified mRNA.
Based on Application: The market is segmented into Vaccines, Therapeutics, Others.
Based on End User: Hospitals, Research Institutes, Biotech & Pharmaceutical Companies
Based on Region: The market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the largest market for nuclear power, driven by growing energy demand and government support for nuclear energy projects.
Global mRNA Market: Regional Insights
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North America:
The North American mRNA market is established and because of tight sanitation standards, significant building, as well as enormous occurrences. The United States and Canada are major players. Assistance from the government, such as NIH funds, promotes mRNA research. The two governments encourage indigenous production, resulting in growth in markets. The success of the COVID-19 vaccine has caused an upsurge in clinical studies, with a CAGR of more than 60% from 2017 to 2021. This expansion reflects an increasing amount of uses for mRNA technology in medical.
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Europe:
The mRNA market in Europe flourishes due to tight environmental restrictions, the development of sustainable sanitation practices, and an established tourism industry. Germany, the UK, and France are among the biggest nations. BioNTech, CureVac, and Moderna are promoting innovation. Collaborations between biotechnology and pharmaceutical companies accelerate development and research, thereby reinforcing Europe’s dominance in the mRNA market.
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Asia Pacific:
The Asia Pacific region is witnessing rapid urbanization, infrastructure development, and rising disposable income levels, driving the demand for portable toilets. Emerging economies such as China, India, and Southeast Asian countries offer substantial growth opportunities for market players.
Global mRNA Market: Competitive Landscape
Moderna, BioNTech SE, CureVac, Translate Bio, Arcturus Therapeutics, eTheRNA Immunotherapies, Ethris GmbH, Novartis AG, Pfizer Inc., Sanofi SA, Roche Holding AG.
Global mRNA Market: Recent Developments
- March 26, 2024: Moderna, Inc. announced that mRNA-1283, the Company’s next-generation COVID-19 vaccine, has successfully met the primary endpoints of its Phase 3 clinical trial, demonstrating a higher immune response against SARS-CoV-2 when compared to mRNA-1273.222, Moderna’s licensed COVID-19 vaccine.
- May 29, 2024: BioNTech SE and the Coalition for Epidemic Preparedness Innovations (“CEPI”) are expanding their strategic partnership to contribute to building a sustainable and resilient end-to-end African vaccine ecosystem.
