Messenger Ribonucleic Acid, also called mRNA vaccine, is a single protein-coding gene in the genome that works as a basis for protein synthesis inside the cells. mRNA vaccines don't consist of the live virus and, instead, they teach cells to make a protein to initiate an immune response.
The “Global mRNA Vaccines and Therapeutics Market” is likely to grow at a CAGR of around 13% during the forecast period, i.e., 2021-26, says MarkNtel Advisors. The market growth essentially attributes to the rising prevalence of infectious and chronic diseases, including HIV, diabetes, cancer, and cardiovascular diseases.
Additionally, the inability of the traditional vaccine approaches to perform at a critical time boosts the market growth. Further, technological advancements support the growth of the market as mRNA vaccines and therapeutics are developed with the help of advanced technologies so that these vaccines are highly effective in crucial times.
The research report, “Global mRNA Vaccines and Therapeutics Market Analysis, 2021,” depicts a deep-dive market analysis of market statistics. It primarily consists of regional & country-wise market size, market forecast, CAGR & share of different market segments, competitive benchmarking, and key market drivers & restraints.
|Study Period||Historical Data: 2016-19|
|Base Year: 2020|
|Forecast Period: 2021-26|
|Regions Covered||North America: USA, Canada, Mexico|
|Europe: Germany, The UK, France, Spain, Italy|
|Asia-Pacific: China, India, Japan, South Korea, Australia|
|South America: Brazil, and Argentina|
|Middle East & Africa: UAE, Saudi Arabia, South Africa|
|Key Companies Profiled||Arcturus Therapeutics Holdings Inc., BioNTech, CureVac N.V., ethris GmbH, Gennova Biopharmaceuticals Ltd, GlaxoSmithKline plc, Moderna, Pantherna Therapeutics GmbH, Pfizer, Providence Therapeutics, Providence Therapeutics, Silence Therapeutics, Translate Bio, Versameb AG, Verve Therapeutics, Inc.|
|Unit Denominations||USD Million/Billion|
COVID-19 pandemic Positively Impacted the Global mRNA Vaccines and Therapeutics Market
The COVID-19 pandemic has positively influenced the growth of the Global mRNA Vaccines and Therapeutics Market owing to the increasing number of COVID-19 patients globally and the massive external funding for the production of mRNA-based COVID-19 vaccines. Additionally, with the emergence of new variants of the SARS-COVID-19 virus across different countries worldwide, the demand for mRNA vaccines is significantly increasing as it is highly effective against new strains. However, as the impact of the COVID-19 pandemic declines in the next few years, the market for mRNA vaccines will drop, which is very likely to affect the overall market growth in the years to come.