According to a report by TechSci Research titled “mRNA Vaccines Market –Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028,” the global mRNA vaccine market is projected to experience significant growth throughout the forecast period. This growth can be attributed to the numerous advantages of mRNA vaccines over DNA vaccines, including production efficiency, safety, efficacy, and distribution. Factors such as the increasing incidence of cancer, genetic abnormalities, and viral infections are driving the global mRNA vaccine market. In 2020 alone, approximately 10 million deaths, accounting for nearly one in six deaths globally, were caused by cancer. mRNA vaccines, which are capable of encoding and expressing tumor-associated antigens (TAA), tumor-specific antigens (TSA), and related cytokines, represent a substantial category of cancer vaccines. Their adaptability to various diseases and patients stems from their ability to enhance both humoral and cellular immunity.
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The sudden outbreak and rapid spread of the COVID-19 pandemic, coupled with the success of Moderna and Pfizer-BioNTech’s COVID-19 vaccines, are expected to open new growth opportunities for the mRNA vaccine market in the coming years. Consequently, numerous biotechnology and pharmaceutical companies, as well as academic and research institutions, have initiated research and development efforts, along with the launch of clinical trials for various types of mRNA vaccines. This surge in activity is anticipated to create lucrative prospects for the global mRNA vaccine market throughout the forecast period. Clinicaltrials.gov reports that approximately 444 clinical studies related to mRNA vaccines are currently in progress across different regions of the world.
The global mRNA vaccines market can be segmented based on mRNA type, application, and region. There are three categories within the market: Nucleoside-modified mRNA, Unmodified mRNA, and Self-Amplifying mRNA. These mRNA vaccines, known as “mRNA vaccines,” utilize cutting-edge technology with mRNA as the genetic component. Compared to conventional vaccines, mRNA vaccines offer enhanced immunogenicity, greater potency, rapid development, relative affordability, and improved safety, making them a highly effective alternative.
In terms of application, the global mRNA vaccines market is divided into COVID-19 mRNA vaccines and Non COVID-19 mRNA vaccines. During the COVID-19 pandemic years, specifically 2021-2022, the COVID-19 mRNA vaccine experienced significant growth due to the widespread prevalence of the virus. As the frequency of COVID-19 cases declines in comparison to the pandemic years, the Non COVID-19 mRNA vaccines are expected to witness substantial growth during the forecast period.
The global mRNA vaccine market can be further segmented geographically into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America is expected to dominate the global market during the forecast period, driven by the increasing demand for mRNA vaccines for infectious or chronic diseases and the presence of major players operating in the United States.
Major companies operating in Global mRNA Vaccines Market are:
- Arcturus Therapeutics Holdings Inc.
- BioNTech SE
- CureVac N.V.
- Daiichi Sankyo Company Limited.
- Ethris GmbH
- GlaxoSmithKline plc
- Gennova Biopharmaceuticals Ltd
- Moderna, Inc.
- Pantherna Therapeutics GmbH
- Providence Therapeutics
- Silence Therapeutics
- Translate Bio
- VERSAMEB AG
- Verve Therapeutics Inc.
Pharmaceutical companies are eager to invest more money in the production of mRNA-based COVID-19 vaccines because of the rise in COVID-19 cases and the government’s increasing emphasis on the establishment of effective immunization techniques. Pharmaceutical companies are also making considerable investments to expand their separate pipelines for non-COVID-19 applications such as infectious illnesses, cancer, and other disorders as a result of the increased popularity of mRNA vaccines. BioNTech SE has been a pioneer in the mRNA vaccines and therapeutics ecosystem thanks to the presence of a diversified portfolio and intense market penetration.
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“mRNA Vaccine market will witness robust growth during the forecast period owing to the advancement of mRNA technologies to produce mRNA vaccines to prevent infectious or chronic diseases. The prevalence of chronic disease will also boost the growth of market. mRNA vaccines are the rapidly producing vaccine comparative to other vaccines produced from biological means. Furthermore, increasing research & development in the domain of vaccine production through mRNA all over the world will also affect the market growth, positively.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“mRNA Vaccine Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By mRNA Type (Nucleoside-modified mRNA, Unmodified mRNA, Self-Amplifying mRNA), By Application (COVID-19 mRNA Vaccines, Non COVID-19 mRNA Vaccines, Others), Region and Competition”, has evaluated the future growth potential of Global mRNA Vaccines Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global mRNA Vaccines Market.
Report Scope:
In this report, Global mRNA Vaccine Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Global mRNA Vaccine Market, By mRNA Type:
o Nucleoside-modified mRNA
o Unmodified mRNA
o Self-Amplifying mRNA
Global mRNA Vaccine Market, By Application:
o COVID-19 mRNA Vaccines
o Non COVID-19 mRNA Vaccines
o Others
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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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