mRNA Therapeutics Market
Number of pages: 100 | Report Format: PDF | Published date: 16 March, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market size value in 2022 |
US$ 10.6 billion |
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Revenue forecast in 2031 |
US$ 23.7 billion |
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Growth Rate |
CAGR of 10.54% from 2023 to 2031 |
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Base year for estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments covered |
Type, Application, End Use, and Region. |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global mRNA therapeutics market was valued at US$ 10.6 billion in 2023 and is expected to register a revenue CAGR of 10.54% to reach US$ 23.7 billion by 2031.
Market Fundamentals
mRNA (messenger RNA) therapeutics is a new branch of medicine that uses synthesized mRNA molecules to treat a range of diseases. An mRNA is a form of genetic material that carries instructions from DNA to the cellular machinery responsible for protein production. Researchers can instruct cells to create certain proteins that can help combat disease by introducing synthetic mRNA into the cells.
mRNA therapeutics have a wide range of potential uses, including treatments for genetic abnormalities, infectious diseases, cancer, and a variety of other problems. One of the benefits of mRNA therapeutics is its swift reaction to emerging threats such as novel infectious diseases or rapidly changing cancer cells. The mRNA molecules used in treatments are designed to be stable and avoid triggering an immune response, which might restrict their efficacy.
Although mRNA therapeutics is still a relatively new subject, they have showed promising results in clinical studies, and some mRNA-based vaccines, especially the COVID-19 vaccines created by Pfizer/BioNTech and Moderna, have been licensed for use. As research in this field develops, mRNA therapeutics are likely to become an increasingly essential weapon in the battle against diseases.
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Market Dynamics
The global mRNA therapeutics market primarily is driven by the increasing prevalence of many chronic diseases including respiratory, cardiac, metabolic, and autoimmune diseases. The therapeutic use of messenger RNA has given rise to enormous optimism in the fight against a wide range of incurable diseases. Current advances in biotechnology and molecular medicine have made it possible to produce practically any functional protein/peptide in the human body by introducing mRNA as a vaccination or therapeutic agent. This is a growing precision medicine field that has considerable potential for preventing and treating a wide range of intractable or inherited disorders.
Additionally, the advantages offered by mRNA therapeutics have increased its demand. mRNA therapeutics are very versatile and may be used in a variety of applications. The rising demand is due to their ability to cure chronic disorders. Furthermore, their simple and low-cost manufacturing method, as well as their capacity to function with a wide range of markers, make them excellent for personalized medication. This is beneficial for patients since it allows for rapid reaction and effective therapies suited to their specific needs.
Majority of doctors are highly prescribing new mRNA therapeutics in the treatment of many chronic conditions. According to a new survey conducted by healthcare research firm Sermo in 2022, 76% of doctors would prescribe novel medications based on mRNA technology. Oncology, which is undergoing several experimental studies, has the greatest potential to benefit from the technique.
The global mRNA therapeutics market is also increasing as market players are emphasizing development tactics such as collaborations and the launch of new and innovative products. Moderna Inc (MRNA.O) and privately held Life Edit Therapeutics Inc. in February 2023 collaborated to work together to find and develop mRNA gene-editing drugs. The collaboration will combine Life Edit's varied portfolio of innovative gene editing technologies with the Moderna mRNA platform. The companies collaborated on research and preclinical studies financed by Moderna to discover curative medicines for some of the most difficult genetic diseases. On the other hand, GlaxoSmithKline plc (GSK) in November 2022, stated that the FDA has approved a Biologics License Application (BLA) and awarded priority review for its mRNA-based respiratory syncytial virus (RSV) older adult vaccination candidate.
However, the global mRNA therapeutics market will experience limited growth due to the comparatively short lifespan of protein synthesis in mRNA therapies for chronic disorders demands repeated administration.
Market Ecosystem
The global mRNA therapeutics market is analyzed from four perspectives: Type, Application, End Use, and Region.
mRNA Therapeutics Market by Type
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Based on type, the global mRNA therapeutics market is segmented into prophylactic vaccines, therapeutic drugs, and therapeutic vaccines.
The prophylactic vaccine segment has dominated the global mRNA therapeutics market with the majority of market revenue share in 2022. Prophylactic vaccines have numerous advantages, including the prevention of diseases before they occur, the reduction of healthcare costs associated with treating chronic diseases, and the protection of vulnerable populations such as infants and elderly individuals. Additionally, the use of messenger RNA technology in prophylactic vaccines allows for a faster and more efficient response to emerging infectious diseases, as seen with the development of COVID-19 vaccines. This has further increased the demand for messenger RNA therapeutics in the prophylactic vaccine segment.
mRNA Therapeutics Market by Application
Based on the application, the global mRNA therapeutics market is segmented as rare genetic diseases, infectious diseases, oncology, respiratory diseases, and others.
The infectious diseases segment has dominated the global mRNA therapeutics market in 2022. Messenger RNA therapeutics have the potential to provide rapid and effective treatment for infectious diseases by inducing the production of specific proteins that can combat pathogens. Additionally, mRNA vaccines can be quickly developed and manufactured in response to emerging infectious disease prevalence.
They can also be used to boost the body's natural immunity, making it simpler for the patient to fight off subsequent infections. Moreover, messenger RNA can be utilized to target difficult-to-reach infected cells, potentially lowering treatment resistance. Messenger RNA treatments are gaining popularity among both doctors and patients as a viable alternative to standard infectious disease medications.
mRNA Therapeutics Market by End User
Based on end use, the global mRNA therapeutics market is segmented into research organizations, hospitals & clinics, and others.
The hospitals and clinics segment has dominated the global mRNA therapeutics market. Messenger RNA therapeutics are gaining popularity in hospitals and clinics as a potential way to treat a wide range of diseases, particularly in the most challenging instances when standard drugs and treatments are no longer effective. Moreover, increasing the prescription of messenger RNA therapeutics due to their effectiveness in treating a variety of medical conditions, from cancer to infectious diseases is increasing the uptake of messenger RNA therapeutics.
mRNA Therapeutics Market by Region
Based on the region, the global mRNA therapeutics market is segmented into North America, Europe, Asia Pacific, Latin America and the Middle East & Africa.
North America dominated the mRNA therapeutics market. The key factor supporting the growth of the mRNA therapeutics market is increasing funding for research and development. Additionally, increasing mRNA drug approvals in North America is also supporting segment growth. A rise in the standard of living, as well as new medical technology, are some other factors driving the global mRNA therapeutics market in the United States. Moreover, the mRNA vaccine demand in the United States has been significantly strong demand for a few years due to rising consumer demand in the healthcare sector, and it is expected to develop even more throughout the projected period.
The mRNA therapeutics market in Europe is projected to experience significant growth in the coming years this is owing to increasing research and development activities, the rising prevalence of chronic diseases, and advancements in mRNA technology. Companies in Europe are actively investing in the development of novel mRNA-based treatments, targeting various diseases such as cancer, infectious diseases, and genetic disorders. Moreover, the collaboration between pharmaceutical companies and academia enhances the prospects for growth in the European mRNA therapeutics market.
Asia Pacific is predicted to be the fastest-growing geographic region in the mRNA therapeutics market over the forecast period. The Asia Pacific region has built a massive healthcare infrastructure and made several medical advances via research. Nations such as India and China are rapidly advancing their technologies. India, for instance, has rapidly developed covid vaccines, which will boost the market throughout the projection period. Moreover, increasing government initiatives for research and development in mRNA therapeutics is also increasing the growth of the Asia Pacific.
Competitive Landscape
Several companies are emphasizing development tactics, such as new launches, product approvals, and other elements like patents and events. The market saw acquisition, partnership, and cooperation activities as inorganic development tactics. These initiatives have enabled the expansion of future economic business prospects and increased demand for the global mRNA therapeutics market.
Some of the prominent companies having the largest revenue share in the global mRNA therapeutics market are
Strategic Developments
Over the years, the mRNA therapeutics market’s awareness of the advantages of RNA therapeutics is increasing. Moreover, the global RNA therapeutics market is also increasing as market players are emphasizing the development tactics such as collaborations for the launch of new products.
The global mRNA therapeutics market will be valued at US$ 23.7 billion by 2031
The global mRNA therapeutics market is expected to register a revenue CAGR of 10.54% during the forecast period.
Messenger RNA (mRNA) therapeutics is a branch of medicine that uses synthesized mRNA molecules to treat a range of diseases.
The infectious diseases segment has dominated the global mRNA therapeutics market in 2022.
*Insights on financial performance are subject to the availability of information in the public domain
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Snehal Deshmukh
Principle Consultant
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