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.
Infectious Diseases to Dominate the Global mRNA Vaccines and Therapeutics Market
Based on Application Type, the market bifurcates into COVID mRNA Application and Non-COVID mRNA Application. Here, Non-COVID mRNA Application segments into Immuno-Oncology, Cardiology, Endocrinology, Haematology, and Other Infectious & Rare Diseases. Of them all, Infectious diseases accounted for more than 80% share in the Global mRNA Vaccines and Therapeutics Market. The mRNA Vaccine encodes the desired antigens from the mRNA sequence. When the mRNA vaccine gets injected, some information gets transferred to the cell to generate specific proteins in the cytoplasm. This protein initiates immune responses in the body and protects the body against diseases. Hence, the mRNA vaccine helps prevent transmission of various infectious diseases like HIV, Ebola, Influenza, and other Infectious Diseases, thereby likely to accelerate the segment growth in the forecast period, cites MarkNtel Advisors in their research report, “Global mRNA Vaccines and Therapeutics Market Analysis, 2021.”
Hospitals and Healthcare Clinics Accounted for the Largest Market Share
Based on End-Users, the market bifurcates into Hospitals & Healthcare Clinics, Research Organization & Institutions, and Others. Among these segments, Hospitals & healthcare Clinics acquired the largest share in the Global mRNA Vaccines and Therapeutics Market in the previous few years. The segment growth primarily owes to the rising patient footfall in hospitals and clinics. Additionally, an increasing number of patients suffering from respiratory diseases, cancer, and infectious diseases also leads to aiding the growth of Hospitals & Healthcare Clinics.
North America Attained the Highest Market Share
Geographically, North America held the largest share in the Global mRNA Vaccines and Therapeutics Market in the past few years, owing to the abundant presence of prominent players & exponentially surging number of COVID-19 patients in the US. Additionally, mounting fund infusions, rising focus on precision medicines, favorable regulatory environment, and snowballing need to develop transformative therapeutics are other critical factors augmenting the market growth in North America.
Increasing Cases of COVID-19
mRNA vaccines help protect against various infectious diseases. The COVID-19 mRNA vaccines teach the cells to make a harmless piece of the spike protein. The spike protein lies on the surface of the COVID-19 virus. Once the mRNA vaccine gets injected, the body starts triggering an immune response, thereby creating antibodies against the virus. Moreover, mRNA vaccines are highly effective in combatting new variants of the COVID-19 virus. Hence, the increasing number of COVID-19 patients leads to accelerate the demand for mRNA vaccines and therapeutics.
Transportation Challenges Associated with COVID-19 Vaccines
Transporting mRNA vaccines from the manufacturing site to vaccination centers is one of the biggest challenges for the logistic industry as these vaccines are time-sensitive and temperature-critical products. Therefore, issues while maintaining a cold supply chain to ensure its stability and lack of proper infrastructure to stockpile mRNA-based COVID-19 vaccines are the major factors restraining the market growth.
According to MarkNtel Advisors, the major leading players in the Global mRNA Vaccines and Therapeutics market are 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.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation, and Statistics
Frequently Asked Questions
A. The Global mRNA Vaccines and Therapeutics Market is forecast to grow at a CAGR of 13% during 2021-26.
A. 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, and Verve Therapeutics, Inc. are a few leading players in the Global mRNA Vaccines and Therapeutics Market.
A. The Hospitals and Healthcare Clinics segment is likely to attain the highest CAGR during the forecast period and maintain its significant market share.
A. North America continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities to market players of the Global mRNA Vaccines and Therapeutics Market.
A. The rising prevalence of infectious & chronic diseases, including HIV, diabetes, cancer, & cardiovascular diseases, technology advancements, and the inability of the traditional vaccine approaches to perform at a critical time are the prime factors fueling the market growth.
A. The widespread pandemic has also pushed the mRNA Vaccines and Therapeutics market into action by generating new opportunities to develop COVID-19 vaccines, thereby propelling the market growth in the forecast period.