According to a recent study by Nova One Advisor, the mRNA therapeutics market size was valued at USD 12.19 billion in 2023
According to a recent study by Nova One Advisor, the mRNA therapeutics market size was valued at USD 12.19 billion in 2023 and is poised to exceed USD 58.90 billion by 2033, expanding at a CAGR of 17.06% between 2024 and 2033.
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mRNA-based therapies have received a lot of attention in recent years because of their high potential for treating chronic diseases. mRNA vaccines provide significant advantages over DNA vaccines in terms of manufacturing, dissemination, and safety. They have showed potential in human clinical trials, driving up demand for messenger ribonucleic acid-based vaccines and treatments. The market is expanding due to an increase in clinical trials and the increased use of stem cell therapies around the world.
Government agencies from several countries, research institutions, and multiple biotech and pharmaceutical companies are focusing on efficient and speedy techniques of detecting COVID-19. In addition, mRNA vaccinations are a safe and effective way to prevent COVID-19. The advantages of COVID-19 messenger RNA vaccines have piqued pharmaceutical companies’ interest in rapidly delivering RNA vaccinations over the world. As a result, the use of RNA vaccines is expected to grow during the pandemic. In addition, following encouraging results in phase I and phase II clinical trials, mRNA-1273 and BNT162b2 entered phase III clinical trials in late July 2020.
It also demonstrates around 94.1% efficacy in symptomatic COVID-19 prophylaxis and has gained urgent approval from the US FDA for mass immunization. Biopharmaceuticals, such as monoclonal antibodies, peptides, and nucleic acids, have received a lot of attention as innovative treatment techniques aimed at meeting the high expectations of treating serious medical conditions. Furthermore, messenger RNA-based technologies have shown great promise for treating and preventing a variety of disorders. Furthermore, technological improvements and scientific research over the last decade have made messenger RNA a viable therapeutic alternative, removing some of the drawbacks associated with its use, such as its short half-life and inherent immunogenicity.
As a result, the use of mRNA therapeutic drugs is projected to expand. Furthermore, because messenger RNA translation is only temporary and foreign material is not integrated into the cell’s genome, the resulting cellular therapeutic product has numerous advantages over a more conventional approach, including easier production under acceptable manufacturing procedures, reduced cytotoxicity from on-target off-tumor effects, and better clinical validation and regulatory treatment. As a result, it is predicted to enhance demand for mRNA therapies, hence driving market expansion.
Key Takeaways:
- The North America mRNA therapeutics market accounted for the largest revenue share of 40.75% share in 2023.
- The Asia Pacific mRNA therapeutics market is anticipated to witness the fastest growth from 2024 to 2033.
- The infectious disease segment held the largest market share of 100% in 2023.
- The oncology segment is expected to register the highest CAGR over the forecast period.
- The prophylactic segment completely dominated the market with a share of 100% in 2023.
- The therapeutics segment is expected to register the highest CAGR from 2024 to 2033.
- The hospitals & clinics segment dominated the market with a share of 45.85% in 2023 and is expected to register the fastest growth rate from 2024 to 2033.
- The other segment is expected to register a significant CAGR from 2024 to 2033.
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What are the Importance of mRNA Therapeutics Market?
Revolutionary Technology: mRNA therapeutics represent a cutting-edge approach to treating diseases by leveraging the body’s own cellular machinery to produce therapeutic proteins. This technology has the potential to revolutionize the treatment of various diseases, including cancer, infectious diseases, and genetic disorders.
Versatility: mRNA therapeutics have a wide range of potential applications, from vaccines to protein replacement therapies. This versatility makes them valuable in addressing various medical needs and opens up possibilities for treating previously untreatable conditions.
Rapid Development: Compared to traditional drug development methods, mRNA therapeutics can be developed and manufactured relatively quickly. This rapid development process allows for a faster response to emerging health threats such as pandemics or new disease outbreaks.
Customization and Personalization: mRNA therapeutics have the potential for customization and personalization, allowing for tailored treatments based on individual patient needs. This personalized approach could lead to more effective and targeted therapies with fewer side effects.
Potential for Vaccine Development: mRNA vaccines have gained significant attention due to their role in the rapid development of COVID-19 vaccines. The success of mRNA vaccines against COVID-19 has highlighted the potential of this technology for developing vaccines against other infectious diseases.
Investment and Growth: The growing interest and investment in mRNA therapeutics by pharmaceutical companies, biotech startups, and research institutions indicate the significant potential of this market. As research advances and more therapies enter clinical development, the market is expected to continue growing.
mRNA Therapeutics Market By Type Insights
Based on types, the market is further categorized into prophylactic and therapeutic. The prophylactic segment completely dominated the market with a share of 100% in 2023. COVID-19 products currently account for most prophylactic vaccine revenues. Vaccines for other illnesses, including influenza and respiratory syncytial virus, are expected to contribute to segment growth over the coming years. The clinical trials and development of RNA vaccines for COVID-19, influenza, HIV, and other viral infections are now being undertaken by several key players to strengthen their market positions as well as generate lucrative revenue.
For instance, in February 2023, RVAC Medicines began the phase IB clinical trial for three COVID-19 mRNA vaccine candidates in Singapore after receiving approval from the Health Sciences Authority (HSA). The therapeutics segment is expected to register the highest CAGR from 2024 to 2033. Growing expenditure by key market players to produce novel and effective RNA therapeutics is expected to boost market growth over the forecast years. For instance, in July 2022, Axcelead, Inc.’s subsidiary companies Axcelead Drug Discovery Partners, Inc. and ARCALIS, Inc. came together to offer comprehensive drug discovery support services for messenger RNA-based vaccines and therapeutics.
mRNA Therapeutics Market By End-use Insights
Based on end-uses, the market is further segmented into hospitals & clinics, research organizations, and others. The hospitals & clinics segment dominated the market with a share of 45.85% in 2023 and is expected to register the fastest growth rate from 2024 to 2033. The widespread use of messenger RNA-based vaccines and therapeutics to treat chronic diseases is expected to boost the market for personalized pharmaceuticals. The segment growth is also likely to be driven by the increasing number of patients visiting hospitals and clinics.
The other segment is expected to register a significant CAGR from 2024 to 2033. The other segment includes specialty pharmacies, which play a vital role in distributing and administering messenger RNA vaccines, primarily due to the unique storage requirements associated with these vaccines. For instance, the Pfizer-BioNTech mRNA COVID-19 vaccine, which initially required ultra-low-temperature storage, benefits significantly from the expertise of specialty pharmacies in handling temperature-sensitive medications.
mRNA Therapeutics Market By Regional Insights
The North America mRNA therapeutics market accounted for the largest revenue share of 40.75% share in 2023. The availability of significant research funding, the rise in federal programs adopting RNA-based medicines, and increasing number of clinical trials are expected to drive the region’s growth. For instance, in November 2020, The National Institutes of Health (NIH), the Defense Department, and federally funded academic laboratories supported Graham and others’ basic research, which has been a crucial component in the rapid development of vaccinations against COVID-19.
U.S. mRNA Therapeutics Market Trends
The mRNA therapeutics market in the U.S. is expected to grow over the forecast period due to the presence of key market players in the U.S. that are undergoing various strategic initiatives, such as collaborations and partnerships.
Europe mRNA Therapeutics Market Trends
The Europe mRNA therapeutics market is identified as a lucrative region in this industry. This is attributed to strong government support, advancements in research infrastructure, and the success of COVID-19 vaccines based on messenger RNA.
The mRNA therapeutics market in the UK is expected to grow over the forecast period due to growing government deals with companies signed within the country to manage the pandemic, such as COVID-19.
The France mRNA therapeutics market is expected to grow over the forecast period owing to increasing investments by major players in the development of messenger RNA-based vaccines.
The mRNA therapeutics market in Germany is expected to grow over the forecast period due to the presence of a substantial number of providers offering messenger RNA therapeutics and initiatives undertaken to expand the scope of these tools.
Asia Pacific mRNA Therapeutics Market Trends
The Asia Pacific mRNA therapeutics market is anticipated to witness the fastest growth from 2024 to 2033. This growth is attributed to increasing investment in biotechnology, advancements in healthcare infrastructure, and a growing focus on precision medicine. Future trends involve increasing applications beyond infectious diseases to oncology and genetic disorders, with notable examples being China’s investment in messenger RNA research and Japan’s efforts in personalized medicine.
The mRNA therapeutics market in China is expected to grow over the forecast period due to several initiatives undertaken by local companies to advance the messenger ribonucleic acid synthesis landscape.
The Japan mRNA therapeutics market is expected to grow over the forecast period. Major players in the market are adopting several strategies, including mergers & acquisitions, partnerships & collaborations, to stay competitive in the region.
Middle East and Africa mRNA Therapeutics Market Trends
The mRNA therapeutics market in Middle East & Africa (MEA) is witnessing growth propelled by increasing healthcare investments and a rising focus on advanced medical solutions. Drivers include government initiatives, such as the UAE’s commitment to advancing biotechnology and fostering collaborations with mRNA technology developers.
The Saudi Arabia mRNA therapeutics market is expected to grow over the forecast period. Due to the rapidly expanding biologics industry, many globally established players are entering the market and partnering with local players in this country.
The mRNA therapeutics market in Kuwait is expected to grow over the forecast period due to the presence of several multinational and regional pharmaceutical companies in the country.
mRNA Therapeutics Market Recent Developments
- In September 2023, Moderna, Inc. expanded its messenger ribonucleic acid research across oncology, respiratory, and rare diseases. This initiative was anticipated to fuel the company’s revenue
- In August 2023, CureVac announced the commencement of dosing for the initial participant in a Phase 2 study. This study focuses on modified COVID-19 mRNA vaccine candidates developed through a collaboration with GSK Plc
- In January 2023, BioNTech SE entered a strategic collaboration with the UK government to supply personalized messenger RNA cancer immunotherapies for up to 10,000 patients by 2030. This initiative positively impacted the company’s revenue
- In January 023, BioNTech SE completed the acquisition of InstaDeep Ltd. This initiative was anticipated to strengthen BioNTech’s AI-powdered drug discovery, design, and development
Key mRNA Therapeutics Company Insights
The market players operating in the mRNA therapeutics market are adopting product approval strategies to increase the reach of their products and improve their availability in diverse geographical areas, along with expansion as a strategy to enhance production/research activities. In addition, several market players are acquiring smaller players to strengthen their market position. This strategy enables companies to increase their capabilities, expand their product portfolios, and improve their competencies.
mRNA Therapeutics Market Top Key Companies:
The following are the leading companies in the mRNA therapeutics market. These companies collectively hold the largest market share and dictate industry trends.
- Moderna Inc.
- BioNTech SE
- CureVac N.V.
- Arcturus Therapeutics
- Sanofi
- GSK Plc.
- Argos Therapeutics Inc.
- Ethris
- Pfizer Inc.
- AstraZeneca
mRNA Therapeutics Market Report Segmentation
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the mRNA Therapeutics market.
By Application
- Infectious Diseases
- Oncology
- Rare Genetic Diseases
- Respiratory Diseases
- Others
By Type
- Prophylactic
- Therapeutic
By End-use
- Hospitals & Clinics
- Research Organizations
- Others
By Region
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa (MEA)
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