COVID-19 Welcomes a New Era in Vaccinology. mRNA Based Vaccines to Reach US$127.3 Billion by the Year 2027
SAN FRANCISCO, June 29, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "mRNA Vaccines - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 1; Released: May 2021
Executive Engagements: 766
Companies: 92 - Players covered include Arcturus Therapeutics, Inc.; Argos Therapeutics, Inc.; BioNTech SE; CureVac AG; eTheRNA; ethris GmbH; GlaxoSmithKline PLC ; Moderna Therapeutics Inc.; Pfizer Inc. ; Sangamo Therapeutics Inc.; Translate Bio Inc.; and Others.
Coverage: All major geographies and key segments
Segments: Indication (COVID-19 Vaccine, Cancer Vaccine, Other Indications)Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry
ABSTRACT-
Induced by necessity, the COVID-19 pandemic has provided an unexpected platform for the launch and commercialization of mRNA based vaccines. The global market for mRNA vaccines is estimated at US$64.9 Billion in the year 2021, and is projected to reach US$127.3 Billion by the year 2027, growing at a CAGR of 11.9% over the analysis period. The market in the U.S. is estimated at US$29.9 Billion in the year 2021. The country currently accounts for a 46.1% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$13.2 Billion in the year 2027 trailing a CAGR of 17.2% through the analysis period. Among the other noteworthy geographic markets are Canada, Japan and Europe, each forecast to grow at 11.0%, 10% and 10.6% respectively over the analysis period.
Until now shrouded in research and development, the mRNA platform provided the first glimmer of hope in this devastating pandemic. mRNA vaccines were the first to complete phase 3 testing and receive emergency use authorization from the FDA. Once a loose idea, mostly dismissed by the scientific community, mRNA vaccines have today become a leading vaccine technology in our battle against the COVID-19 virus. The first time to be approved for use in any human disease, mRNA vaccines today stand at a vantage point in addressing other diseases including cancer. Recent developments have improved mRNA vaccines' ability to increase protein translation, and modulate innate and adaptive immunogenicity. Such improvements have been the result of the development of lipid-encapsulated or naked forms of sequence-optimized mRNA.
Essentially a genetic technology, mRNA utilizes a synthetic messenger RNA (mRNA) that corresponds to a viral protein of a given disease. When injected, mRNA travels through the bloodstream, merges with the immune system cells to produce the viral protein. This educates the immune system to recognize the protein as foreign and start making the spike protein needed to build defenses against the real virus. mRNA is a blueprint that uses information in the virus genes to create viral proteins. Once cells finish making the protein, they quickly break down the mRNA. Therefore mRNA vaccines do not enter the nucleus and does not alter DNA, making them safe. Also, since mRNA vaccines do not expose the recipient to the virus, chances of getting infected is very low. Instead of delivering antigenic proteins directly like a traditional vaccine, an mRNA-based vaccine relies on the host's cells to manufacture protein immunogens which in turn activates antibody and cytotoxic T cell responses. Also unlike traditional vaccines which are weakened viruses, it eliminates the need to culture large amounts of a virus, and then chemically weaken it, thereby saving time. mRNA can be manufactured in labs cost effectively, in large quantities and in less time.
The rollout of mRNA-based COVID-19 vaccines from Pfizer/BioNTech and Moderna have up until now far exceeded expectations and is therefore expected to witnesses accelerated efforts and success in targeting new formulations or candidates and delivery mechanisms to bring more therapies and vaccines to people. The coming years will witness mRNA vaccines being developed for influenza virus, Zika virus, rabies virus and others. The market is expected to be driven by increasing incidence of infectious diseases, cancer, tuberculosis, HIV, across the globe. In addition, the growing demand for vaccines and therapeutics that can help in effectively preventing or treating various viral infections, including influenza, Ebola, and HIV, is anticipated to bolster growth in the mRNA platform market in the coming years. The mRNA vaccines market is forecast to receive notable contribution from the cancer segment that is estimated to claim the leading revenue share over the coming years. The market is gaining from considerable demand for vaccines intended to treat cancer along with standardization of the cancer treatment. The segment's growth is augmented by increasing incidence of cancer. The condition remains one of the major causes of mortalities globally, with the number of new cases annually exceeding 23.6 million by the year 2030. mRNA technology can be exploited to instruct recipients' body to launch a vigorous attack on cancerous cells and repair damaged cells. In addition, the production of missing proteins is expected to pave way for treatment of several other genetic medical conditions.
mRNA vaccines for HIV is also garnering immense interest and funding. Over 36 million people worldwide are infected with HIV and despite the effectiveness of Antiretroviral therapy (ART) in preventing transmission, clinical progression and death, caseloads continue to rise worldwide. mRNA based HIV vaccines offer an attractive alternative to life-long ART. The goal of mRNA vaccines is to create humoral and cell-based immunity. Neutralizing antibodies produced can eliminate infected cells and repair damage. Although developments efforts continue to be challenged by viral and immunological roadblocks, optimism reigns supreme given the current interest and willingness to fund mRNA research following the technology's success in the COVID-19 vaccines space. More
MarketGlass™ Platform
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.
Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android
About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
LINKS
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp
Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./
Follow Us on Twitter
https://twitter.com/marketbytes
Journalists & Media
[email protected]
SOURCE Global Industry Analysts, Inc.
Share this article