The latest report by IMARC Group, titled “mRNA Vaccines and Therapeutics Market Report by Vaccine Type (Self-amplifying mRNA-Based Vaccines, Conventional Non-Amplifying mRNA-Based Vaccines), Treatment Type (Bioengineered Vaccine, Gene Therapy, Gene Transcription, Cell Therapy, Monoclonal Antibody, and Others), Vaccine Manufacturing (In-House, Out-Sourced), Application (Cancer, Infectious Disease, Gene Editing, Protein Replacement), End-User (Hospitals and Clinics, Research Organizations, and Others), and Region 2024-2032“, The global mRNA vaccines and therapeutics market size reached US$ 57.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 72.7 Billion by 2032, exhibiting a growth rate (CAGR) of 2.53% during 2024-2032.

Factors Affecting the Growth of the mRNA Vaccines and Therapeutics Industry:

• Advancements in mRNA Technology:

One of the primary drivers of the mRNA vaccines and therapeutics market is the rapid advancement in mRNA technology. In recent years, breakthroughs in synthetic biology, nanoparticle delivery systems, and mRNA stability have significantly enhanced the efficacy and safety profiles of mRNA-based therapeutics. These technological improvements allow for precise and customizable development of vaccines and therapeutics that can target a wide range of diseases, from infectious diseases to cancer. For instance, lipid nanoparticle (LNP) delivery systems protect mRNA from degradation, enabling it to be delivered efficiently into cells. Additionally, improvements in mRNA synthesis processes have reduced the risk of unwanted immune reactions. The modular nature of mRNA technology allows for rapid adaptation to new pathogens or variants, which is crucial in combating diseases such as COVID-19.

• Increased Focus on Pandemic Preparedness and Emerging Infectious Diseases:

The COVID-19 pandemic has highlighted the urgent need for rapid vaccine development and global pandemic preparedness. The unprecedented success of mRNA vaccines, such as those developed by Pfizer-BioNTech and Moderna, has demonstrated the potential of mRNA technology to provide swift and effective responses to emerging infectious diseases. Governments, public health organizations, and private companies are investing heavily in mRNA vaccine platforms as part of their broader strategy for pandemic preparedness. The ability of mRNA technology to quickly design, test, and manufacture vaccines has proven invaluable, offering a significant advantage over traditional vaccine approaches that require longer development timelines. Additionally, the mRNA platform is highly adaptable, enabling swift updates to vaccines in response to mutations or new strains of viruses. This adaptability and speed are driving further interest and investment in mRNA-based solutions for future pandemics, promoting long-term growth in the market.

• Growing Investment and Partnerships in Biopharmaceutical Research and Development:

The mRNA vaccines and therapeutics market is being driven by a rise in investment from both the public and private sectors. Venture capital, pharmaceutical companies, and government funding have been pouring into mRNA research and development, given the success and potential of this technology. For instance, the substantial funding provided by governments worldwide during the COVID-19 pandemic expedited the development and rollout of mRNA vaccines. Additionally, biopharmaceutical companies are forming strategic partnerships and collaborations to accelerate the development of mRNA-based therapeutics. These collaborations facilitate the sharing of knowledge, technology, and resources, which is crucial for overcoming the scientific and regulatory challenges in developing new mRNA products. Furthermore, investments are focused on infectious disease vaccines and are also expanding into other therapeutic areas such as oncology, where mRNA is being explored as a potential platform for cancer vaccines and personalized cancer immunotherapies.

Competitive Landscape with Key Player:

• Arcturus Therapeutics Inc.
• BioNTech SE
• CureVac AG
• eTheRNA immunotherapies NV
• ethris GmbH
• GlaxoSmithKline PLC
• Moderna Therapeutics Inc.
• Translate Bio Inc.
• Argos Therapeutics, Inc.
• Sangamo Therapeutics Inc.
• Pfizer Inc.

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Report Segmentation:

The report has segmented the market into the following categories:

Breakup by Vaccine Type:

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

Conventional non-amplifying mRNA-based vaccines dominate the market due to their proven efficacy, safety profile, and rapid scalability, as demonstrated during the COVID-19 pandemic.

Breakup by Treatment Type:

• Bioengineered Vaccine
• Gene Therapy 
• Gene Transcription 
• Cell Therapy
• Monoclonal Antibody
• Others

Bioengineered vaccine represents the largest segment as they offer precise targeting, rapid development, and enhanced efficacy, making them highly effective against a wide range of infectious diseases.

Breakup by Vaccine Manufacturing:

• In-House
• Out-Sourced

In-house manufacturing holds the maximum number of shares as it allows companies to maintain control over the production process, ensure quality, scale rapidly, and protect proprietary technologies, all of which are critical for the timely and efficient production of vaccines.

Breakup by Application:

• Cancer
• Infectious Disease
• Gene Editing
• Protein Replacement

Infectious disease dominates the market as mRNA vaccines have demonstrated rapid development, high efficacy, and adaptability in responding to emerging pathogens, such as during the COVID-19 pandemic, driving significant demand and investment in this area.

Breakup by End-User:

• Hospitals and Clinics
• Research Organizations
• Others

Hospitals and clinics represent the largest segment as they are the primary points of care where mRNA vaccines and therapeutics are administered, monitored, and managed, ensuring accessibility and patient compliance.

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Europe’s dominance in the mRNA vaccines and therapeutics market is attributed to its strong biopharmaceutical infrastructure, substantial public and private investment in research and development, and a supportive regulatory environment for innovative medical technologies.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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