mRNA Therapeutics Market Size Worth $37.76 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Aug. 24, 2022 /PRNewswire/ -- The global mRNA therapeutics market size is expected to reach USD 37.76 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 1.7% from 2022 to 2030. One of the main factors propelling the market growth is the rising incidence of chronic and infectious diseases like diabetes, HIV, cancer, and CVDs.

Key Industry Insights & Findings from the report:

• By application, the infectious diseases segment held a dominant share in 2021 owing to the increased patient population and awareness regarding infectious diseases.
• By type, the prophylactic vaccines segment led the market in 2021. One of the key factors propelling the growth of the prophylactic vaccines business is the rising demand for prophylactic vaccinations, particularly the new COVID-19 vaccines.
• By end-use, the hospitals and clinics segment captured the largest revenue share in 2021. The segment is being driven by the increasing number of patients visiting hospitals and clinics.
• North America held the largest revenue share in 2021 owing to an increase in demand for COVID-19 mRNA vaccines, the existence of major players operating in the U.S., the availability of a technologically advanced healthcare research framework, and the presence of high R&D investment.
• Europe is expected to grow significantly during the forecast period due to the rising occurrence of new diseases, which has prompted efforts for immunization against specific infectious diseases like COVID-19.

Read 150-page full market research report for more Insights, "mRNA Therapeutics Market Size, Share & Trends Analysis Report By Application (Infectious Diseases, Oncology), By Type (Prophylactic Vaccines, Therapeutic Drugs), By End-use, By Region, And Segment Forecasts, 2022 - 2030 ", published by Grand View Research.

mRNA Therapeutics Market Growth & Trends

The growing need for therapeutic drugs and vaccinations to combat viral illnesses like Ebola, influenza, HIV, and most recently COVID-19 is expected to fuel industry growth. The COVID-19 virus has been the focus of numerous government organizations and vaccine producers, and it is anticipated that this will accelerate market expansion.

Furthermore, the availability of vaccination doses around the world is projected to increase during the forecast period as a result of multiple suppliers using novel techniques, such as combining the phase 1 and phase 2 clinical trial stages and obtaining regulatory clearances more quickly from health agencies, thus contributing to the industry growth. With the use of cutting-edge technologies, mRNA vaccines and therapeutics are generated in comparison to conventional medications. These products are less expensive to produce, more powerful against infections, and have enhanced immunogenicity. A favorable outlook for market expansion is also being created by advancements in the compositions of lipid nanoparticles for in-vivo systemic delivery of mRNA.

For instance, in March 2022, The National Institutes of Health's National Institute of Allergy and Infectious Diseases (NIAID) launched a phase 1 clinical trial to assess three potential HIV vaccines using a messenger RNA (mRNA) platform due to its active component and direct the cells to make a protein (or perhaps a protein fragment) that stimulates an immune response using artificial mRNA created in a lab, which enhances the vaccine with more specificity as well as robust stability. Thus, it will increase the demand and further boost the industry growth.

As another significant growth-inducing element, pharmaceutical firms are spending on mRNA technology since they can combine numerous molecules into a therapeutic drug. The market is expected to be driven by additional factors, such as significant biotechnology-related research and development (R&D) initiatives and advancements in medical technology. For instance, Moderna and AstraZeneca are working together on a myocardial ischemia therapy using mRNA (a form of cardiac disease that develops when there is a decrease in blood flow to the heart, depriving the heart muscle of necessary oxygen). Similarly, mRNA treatments for heart disease are also being tested by Arcturus Therapeutics. Such investments are likely to supplement the market growth in the coming years.

The COVID-19 pandemic is anticipated to positively impact the industry growth. The COVID-19 vaccine is one of the diseases for which the mRNA technology is being used. In addition to its predominant use in cancer therapy, the COVID-19 vaccine is the main factor driving the market for mRNA. The mRNA firms are working hard to create COVID-19 vaccines for the next generation due to the coronavirus mutation and the potential spread of virus variants. For instance, in June 2022, The Food and Drug Administration approved the Moderna COVID-19 Vaccine and also the Pfizer & BioNTech COVID-19 Vaccine for use in children as young as 6 months old as COVID-19 preventative measures. As a result, the usage of these technologies is projected to increase during the COVID-19 pandemic and result in industry growth.

Additionally, there has been a discernible trend toward consolidation over the past few years, with players forming strategic alliances to support current R&D projects. For instance, in February 2021, building on their current partnership, GlaxoSmithKline plc and CureVac N.V. announced a new USD152.36 million agreement to create COVID-19 next-generation mRNA vaccines with the possibility for a multi-valent strategy to address numerous developing variations in a single vaccination. As additional mRNA-based therapeutic / vaccine leads exhibit proof-of-concept, go through clinical testing, and eventually hit the market, the opportunity for stakeholders involved in this specialized industry segment is likely to experience a significant increase in the predicted future.

mRNA Therapeutics Market Segmentation

Grand View Research has segmented the global mRNA therapeutics market based on application, type, end-use, and region:

mRNA Therapeutics Market - Application Outlook (Revenue, USD Million, 2020 - 2030)

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

mRNA Therapeutics Market - Type Outlook (Revenue, USD Million, 2020 - 2030)

• Prophylactic Vaccines
• Therapeutic Vaccines
• Therapeutic Drugs

mRNA Therapeutics Market - End-use Outlook (Revenue, USD Million, 2020 - 2030)

• Hospitals & Clinics
• Research Organizations
• Others

mRNA Therapeutics Market - Regional Outlook (Revenue, USD Million, 2020 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

List of Key Players in the mRNA Therapeutics Market

• Moderna, Inc.
• BioNTech SE
• CureVac N.V.
• Arcturus Therapeutics
• Translate Bio, Inc.
• GSK plc.
• Argos Therapeutics Inc.
• Sangamo Therapeutics, Inc.
• Pfizer Inc.
• AstraZeneca plc.
• CRISPR Therapeutics AG

Check out more related studies published by Grand View Research:

• RNA Analysis Market - The global RNA analysis market size is anticipated to reach USD 25.48 billion by 2028, expanding at a CAGR of 13.44% over the forecast period, according to a new report by Grand View Research, Inc. Technological advancements in this market can be attributed to the increasing applications of transcriptome sequencing into life science for capturing polyadenylated RNA. For instance, in July 2021, a Lithuanian team is developing a droplet-based technique for simultaneous mRNA and microRNA capture and sequencing in a single cell. The research is backed by European Union with USD 174,000 Horizon 2020 research grant.
• In Situ Hybridization Market - The global in situ hybridization market size is expected to reach USD 2.6 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.9% from 2021 to 2028. The growing popularity of in-vitro diagnostics over conventional disease diagnostic methods has majorly driven the ISH market over the past years.
• miRNA Sequencing And Assay Market - The global miRNA sequencing and assay market size is expected to reach USD 597.8 million by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.0% from 2021 to 2028. Prominent players, such as Illumina, PerkinElmer, Qiagen, and others offer advanced miRNA sequencing products for multiple clinical applications. Moreover, these companies have collaborated with research institutes to expand the application of miRNA sequencing and assay in research studies.

Browse through Grand View Research's Biotechnology Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
Grand View Compass | Astra ESG Solutions
Follow Us: LinkedIn | Twitter

Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg 

SOURCE Grand View Research, Inc.