Global mRNA Vaccines and Therapeutics Market Report and Forecast 2024-2032

Global mRNA Vaccines and Therapeutics Market Size

The global mRNA vaccines and therapeutics market was valued at USD 64.5 billion in 2023, driven by the rising incidence of chronic diseases and increasing awareness of the widespread potential of mRNA technology across the globe. The market is expected to grow at a CAGR of 1.20% during the forecast period of 2024-2032, with the values to reach USD 71.7 billion by 2032.

mRNA Vaccines and Therapeutics Market Outlook

• In November 2023, Japan approved ARCT-154, the first self-amplifying mRNA (sa-mRNA) COVID-19 vaccine globally. The vaccine is developed by CSL and Arcturus Therapeutics, registering a significant milestone in vaccine innovation.

• In March 2024, Strand Therapeutics discovered an improved class of mRNA molecules, designed to detect types of encountered cells and target diseased cells.

• The global prevalence of non-communicable diseases (NCDs) drives market growth for mRNA vaccines and therapeutics.

mRNA Vaccines and Therapeutics Market Overview

mRNA vaccines and therapeutics utilise messenger RNA molecules to instruct cells to produce proteins that trigger immune responses or treat diseases. The market is poised to be driven by rapid vaccine development, expanding applications of mRNA technology beyond infectious diseases, technological advancements enhancing efficacy and safety, increasing investments from public and private sectors, and regulatory support for innovative mRNA-based treatments. These factors collectively propel market growth, revolutionising healthcare with promising therapeutic innovations.

mRNA Vaccines and Therapeutics Market Growth Factors

Prevalence of Chronic Diseases Aiding the Market Demand

The market is poised for substantial growth due to the rising prevalence of chronic diseases globally. As per the data released by the World Health Organization, non-communicable diseases NCD claims nearly 41 million people per year which is approximately equivalent to 74% of all deaths worldwide.

The most common medical conditions that are the common cause of high deaths include cardiovascular diseases accounting for most NCD deaths, or 17.9 million people each year, followed by cancers (9.3 million), chronic respiratory diseases (4.1 million), and diabetes (2.0 million).

The rapidly changing lifestyle habits among people including tobacco consumption, physical inactivity, excess alcohol intake, unhealthy diets, and air pollution are categorised as common risk factors of NCDs.

Surge in Research and Development Initiatives to Boost mRNA Vaccines and Therapeutics Market Demand

In March 2024, MIT spinout Strand Therapeutics made significant advancements in the field of mRNA technology by developing a new class of mRNA molecules. It is capable of sensing the type of cells they encounter in the body and expressing therapeutic proteins specifically in diseased cells.

The success of such research initiatives may contribute to a surge in targeted mRNA therapies, accelerating regulatory approvals and adoption in healthcare settings. The market is anticipated to experience significant expansion in the mRNA therapeutics domain as these technologies become pivotal in treating chronic diseases like cancer further validating mRNA as a versatile and powerful tool in precision medicine.

Approvals by the Regulatory Authorities Solidifying the Market Demand

In November 2023, CSL, a global biotechnology leader and Arcturus Therapeutics announced that ARCT-154, a self-amplifying mRNA (sa-mRNA) COVID-19 vaccine for initial vaccination and booster for adults 18 years and older was approved by Japan's Ministry of Health, Labor and Welfare (MHLW). The approval of this vaccine recorded a significant milestone as the first sa-mRNA vaccine in the world. The approval by the MHLW supported the wider applications of the vaccine beyond COVID-19, owing to its efficacy and safety. The approval may also trigger regulatory authorities across the globe to approve similar mRNA treatments and vaccines to enable easy availability, boosting market growth. Underscoring the hidden potential of mRNA technology in developing medical treatments and public health, the market is poised to be propelled for an upward trajectory in the forecast period.

mRNA Vaccines and Therapeutics Market Trends

mRNA Vaccines and Therapeutics Market Segmentation 

Market Breakup by Product

• Vaccines
  • Self-amplifying mRNA-Based Vaccines
  • Conventional Non-amplifying mRNA-Based Vaccines

• Drugs

Market Breakup by Treatment Type

• Gene Therapy

• Cell Therapy

• Monoclonal Antibody

• Others

Market Breakup by Application

• Cancer

• Infectious Disease 

• Rare Genetic Disease

• Respiratory Disease

• Others

Market Breakup by End User

• Hospitals and Clinics

• Research & Development Organizations

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

mRNA Vaccines and Therapeutics Market Share

Vaccines Dominate the Product Segment

The product segments include vaccines and drugs. Vaccines are further segmented into self-amplifying mRNA-based vaccines and conventional non-amplifying mRNA-based vaccines. Self-amplifying mRNA-based vaccines stand out due to their potential for enhanced immunogenicity, longer-lasting immune responses, and scalability in manufacturing. Vaccines dominate the product segment as they play a critical role in preventing infectious diseases and supporting public health. With the global emphasis on immunization, vaccines represent a foundation of preventive medicine, offering cost-effective and scalable solutions to fight a wide range of pathogens and protect global population.

Market Segmentation Based on Application Areas

Under application segmentation, there is cancer, infectious disease, rare genetic disease, respiratory disease, and others. The mRNA technology provides a promising approach towards personalized cancer immunotherapy, with continuous research focusing on its efficacy, safety, and therapeutic benefits.

mRNA Vaccines and Therapeutics Market Analysis by Region

Based on the regional analysis, the market report covers North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, with each region contributing to the overall dynamics of the market. North America leads the market due to robust research and development activities along with a favorable regulatory environment. Europe is following North America driven by the increasing investments in mRNA technology. Asia-Pacific is poised to witness significant growth with rising healthcare expenditure and expanding biotech sector.

Leading Players in the Global mRNA Vaccines and Therapeutics Market

The key features of the market report include patent analysis, grants analysis, funding and investment analysis, clinical trials analysis and strategic initiatives by the leading key players. The major companies in the market are as follows:

AstraZeneca

Based out of Cambridge, United Kingdom, AstraZeneca has a strong focus on the discovery, development, and commercialization of prescription medicines. The company is continuing to expand its mRNA technology through collaborations and develop effective solutions in several therapeutic areas.

Pfizer Inc.

Established in 1849, Pfizer Inc., is one of the leading healthcare companies boasting a strong research and development department. The company collaborated with BioNTech and prepared one of the very first mRNA-based vaccines for COVID-19, known as BNT162b2 or Comirnaty.

Sangamo Therapeutics

It is a biotechnology company based in California, USA. The company is focused on developing genomic medicines with the help of its several proprietary technology platforms in gene therapy, gene editing, cell therapy, and genome regulation.

Other companies in the market include Moderna, Inc., Sanofi, Argos Therapeutics, GlaxoSmithKline plc., Gennova Biopharmaceuticals Limited, DAIICHI SANKYO COMPANY, LIMITED and Boehringer Ingelheim International GmbH. 

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report

Key Queries Solved in the Global mRNA Vaccines and Therapeutics Market Report 

• What was the global mRNA vaccines and therapeutics market value in 2023?  
• What is the global mRNA vaccines and therapeutics market forecast outlook for 2024-2032?  
• What are the major factors aiding the global market demand?  
• What are the major global market trends? 
• What is the market segmentation based on the product?
• What are the major treatment types of mRNA vaccines and therapeutics?
• What are the application areas of mRNA vaccines and therapeutics?
• What are the major end users of the market?
• What are the major regional markets according to the EMR report? 
• Who are the key players involved in the global mRNA vaccines and therapeutics market?
• How will the market landscape evolve in the upcoming years? 
• What are the major drivers, opportunities, and restraints in the market? 
• What will be the effect of each driver, challenge, and opportunity on the market? 
• Which country is poised to lead the market share in the forecast period? 
• Which distribution channel is anticipated to propel the market growth? 
• Which segment has the highest impact on the market size? 
• How are partnerships, collaborations, mergers and acquisitions shaping the market dynamics?